James Investment Research Inc. trimmed its stake in AGCO Co. (NYSE:AGCO) by 8.9% during the first quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 16,985 shares of the industrial products company’s stock after selling 1,650 shares during the quarter. James Investment Research Inc.’s holdings in AGCO were worth $1,181,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors also recently modified their holdings of AGCO. Jane Street Group LLC bought a new position in shares of AGCO in the third quarter worth about $397,000. Man Group plc grew its holdings in shares of AGCO by 129.3% in the third quarter. Man Group plc now owns 38,973 shares of the industrial products company’s stock worth $2,370,000 after purchasing an additional 21,980 shares during the last quarter. Macquarie Group Ltd. grew its holdings in shares of AGCO by 19.8% in the third quarter. Macquarie Group Ltd. now owns 32,341 shares of the industrial products company’s stock worth $1,965,000 after purchasing an additional 5,350 shares during the last quarter. Morgan Stanley grew its holdings in shares of AGCO by 11.4% in the third quarter. Morgan Stanley now owns 296,476 shares of the industrial products company’s stock worth $18,021,000 after purchasing an additional 30,326 shares during the last quarter. Finally, Vanguard Group Inc. grew its holdings in shares of AGCO by 1.1% in the third quarter. Vanguard Group Inc. now owns 6,029,986 shares of the industrial products company’s stock worth $366,563,000 after purchasing an additional 65,104 shares during the last quarter. Institutional investors and hedge funds own 83.76% of the company’s stock.
AGCO traded down $0.23 on Wednesday, hitting $67.38. The company had a trading volume of 448,700 shares, compared to its average volume of 622,303. The firm has a market cap of $5.09 billion, a P/E ratio of 17.32, a price-to-earnings-growth ratio of 0.95 and a beta of 0.88. The company has a current ratio of 1.30, a quick ratio of 0.54 and a debt-to-equity ratio of 0.52. AGCO Co. has a 1 year low of $49.50 and a 1 year high of $75.56.
AGCO (NYSE:AGCO) last announced its quarterly earnings results on Thursday, May 2nd. The industrial products company reported $0.86 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.42 by $0.44. AGCO had a return on equity of 11.62% and a net margin of 3.49%. The firm had revenue of $2 billion during the quarter, compared to the consensus estimate of $1.96 billion. During the same period in the prior year, the company posted $0.30 earnings per share. The firm’s quarterly revenue was down .6% compared to the same quarter last year. Equities research analysts forecast that AGCO Co. will post 4.94 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, June 14th. Investors of record on Wednesday, May 15th will be issued a dividend of $0.16 per share. This represents a $0.64 dividend on an annualized basis and a yield of 0.95%. The ex-dividend date is Tuesday, May 14th. This is a positive change from AGCO’s previous quarterly dividend of $0.15. AGCO’s dividend payout ratio is currently 16.45%.
AGCO has been the topic of a number of research analyst reports. Royal Bank of Canada upped their price target on shares of AGCO to $76.00 and gave the stock a “positive” rating in a report on Monday, March 25th. Deutsche Bank set a $76.00 price target on shares of AGCO and gave the stock a “buy” rating in a report on Friday, March 8th. Barclays cut shares of AGCO from an “equal weight” rating to an “underweight” rating and cut their price target for the stock from $64.00 to $63.00 in a report on Wednesday, January 23rd. Credit Suisse Group restated a “hold” rating and issued a $63.00 price target on shares of AGCO in a report on Tuesday, January 22nd. Finally, JPMorgan Chase & Co. upgraded shares of AGCO from a “neutral” rating to an “overweight” rating and increased their target price for the stock from $66.00 to $77.00 in a report on Tuesday, May 14th. Two investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and six have assigned a buy rating to the company. AGCO has a consensus rating of “Hold” and a consensus price target of $71.50.
In related news, Chairman Martin Richenhagen sold 51,000 shares of the stock in a transaction dated Monday, May 13th. The stock was sold at an average price of $70.43, for a total transaction of $3,591,930.00. Following the transaction, the chairman now directly owns 503,733 shares in the company, valued at $35,477,915.19. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, SVP Lucinda B. Smith sold 6,600 shares of the firm’s stock in a transaction dated Thursday, February 21st. The stock was sold at an average price of $66.50, for a total value of $438,900.00. Following the completion of the transaction, the senior vice president now owns 35,838 shares in the company, valued at $2,383,227. The disclosure for this sale can be found here. Insiders sold 241,000 shares of company stock worth $17,020,331 in the last three months. 17.60% of the stock is owned by corporate insiders.
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AGCO Company Profile
AGCO Corporation manufactures and distributes agricultural equipment and related replacement parts worldwide. The company offers high horsepower tractors for larger farms, primarily for row crop production; utility tractors for small- and medium-sized farms, as well as for dairy, livestock, orchards, and vineyards; and compact tractors for small farms, specialty agricultural industries, landscaping, and residential uses.
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