WealthTrust Arizona LLC maintained its stake in shares of AGCO Corporation (NYSE:AGCO) during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 4,067 shares of the industrial products company’s stock at the end of the second quarter. WealthTrust Arizona LLC’s holdings in AGCO Corporation were worth $274,000 as of its most recent filing with the SEC.
A number of other hedge funds have also made changes to their positions in the stock. BlackRock Inc. raised its stake in AGCO Corporation by 2,706.4% in the first quarter. BlackRock Inc. now owns 6,529,374 shares of the industrial products company’s stock valued at $392,938,000 after buying an additional 6,296,716 shares during the last quarter. Victory Capital Management Inc. purchased a new stake in AGCO Corporation during the first quarter valued at about $104,317,000. Canada Pension Plan Investment Board raised its stake in AGCO Corporation by 138.0% in the first quarter. Canada Pension Plan Investment Board now owns 472,203 shares of the industrial products company’s stock valued at $28,417,000 after buying an additional 273,800 shares during the last quarter. Vanguard Group Inc. raised its stake in AGCO Corporation by 4.3% in the first quarter. Vanguard Group Inc. now owns 5,646,479 shares of the industrial products company’s stock valued at $339,804,000 after buying an additional 232,091 shares during the last quarter. Finally, Teachers Advisors LLC raised its stake in AGCO Corporation by 117.6% in the fourth quarter. Teachers Advisors LLC now owns 389,304 shares of the industrial products company’s stock valued at $22,525,000 after buying an additional 210,402 shares during the last quarter. Institutional investors and hedge funds own 84.62% of the company’s stock.
AGCO Corporation (NYSE AGCO) traded down 1.55% during midday trading on Friday, reaching $68.82. 572,917 shares of the company’s stock traded hands. The stock’s 50 day moving average price is $70.13 and its 200-day moving average price is $64.58. AGCO Corporation has a one year low of $46.22 and a one year high of $73.97. The stock has a market cap of $5.47 billion, a PE ratio of 30.09 and a beta of 0.86.
AGCO Corporation (NYSE:AGCO) last posted its quarterly earnings results on Thursday, July 27th. The industrial products company reported $1.15 EPS for the quarter, topping the Zacks’ consensus estimate of $1.04 by $0.11. AGCO Corporation had a return on equity of 6.84% and a net margin of 2.40%. The company had revenue of $2.17 billion for the quarter, compared to analysts’ expectations of $2.08 billion. During the same period in the previous year, the firm earned $1.25 EPS. The firm’s revenue was up 8.5% compared to the same quarter last year. Equities analysts predict that AGCO Corporation will post $3.05 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, September 15th. Investors of record on Tuesday, August 15th will be issued a $0.14 dividend. The ex-dividend date is Friday, August 11th. This represents a $0.56 dividend on an annualized basis and a yield of 0.81%. AGCO Corporation’s dividend payout ratio is presently 24.56%.
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AGCO has been the subject of several recent analyst reports. J P Morgan Chase & Co upgraded shares of AGCO Corporation from an “underweight” rating to a “neutral” rating and upped their target price for the stock from $47.00 to $60.00 in a research note on Monday, May 1st. Seaport Global Securities upped their target price on shares of AGCO Corporation from $57.00 to $61.00 and gave the stock a “neutral” rating in a research note on Monday, May 1st. Citigroup Inc. upped their target price on shares of AGCO Corporation from $65.00 to $68.00 and gave the stock a “neutral” rating in a research note on Monday, May 1st. Credit Suisse Group set a $60.00 target price on shares of AGCO Corporation and gave the stock a “hold” rating in a research note on Sunday, April 30th. Finally, TheStreet lowered shares of AGCO Corporation from a “b” rating to a “c+” rating in a research note on Friday, April 28th. One equities research analyst has rated the stock with a sell rating, fourteen have assigned a hold rating and five have given a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and an average price target of $64.80.
In related news, SVP Lucinda B. Smith sold 1,000 shares of the business’s stock in a transaction that occurred on Tuesday, August 8th. The stock was sold at an average price of $73.00, for a total value of $73,000.00. Following the transaction, the senior vice president now directly owns 38,877 shares of the company’s stock, valued at approximately $2,838,021. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CFO Andrew H. Beck sold 10,000 shares of the business’s stock in a transaction that occurred on Friday, August 4th. The stock was sold at an average price of $72.18, for a total value of $721,800.00. Following the completion of the transaction, the chief financial officer now directly owns 142,079 shares in the company, valued at $10,255,262.22. The disclosure for this sale can be found here. Over the last three months, insiders sold 26,000 shares of company stock worth $1,871,500. 16.60% of the stock is owned by insiders.
AGCO Corporation Company Profile
AGCO Corporation is a manufacturer and distributor of agricultural equipment and related replacement parts. The Company sells a range of agricultural equipment, including tractors, combines, self-propelled sprayers, hay tools, forage equipment, seeding and tillage equipment, implements, and grain storage and protein production systems.
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