Gotham Asset Management LLC reduced its holdings in AGCO Co. (NYSE:AGCO) by 63.9% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 7,512 shares of the industrial products company’s stock after selling 13,279 shares during the period. Gotham Asset Management LLC’s holdings in AGCO were worth $1,079,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds have also modified their holdings of AGCO. Norges Bank acquired a new stake in AGCO in the fourth quarter valued at approximately $121,803,000. Artemis Investment Management LLP lifted its position in AGCO by 341.4% during the first quarter. Artemis Investment Management LLP now owns 1,031,047 shares of the industrial products company’s stock worth $148,056,000 after buying an additional 797,466 shares in the last quarter. SummerHaven Investment Management LLC purchased a new position in AGCO during the fourth quarter worth approximately $788,000. Morgan Stanley lifted its position in AGCO by 456.9% during the fourth quarter. Morgan Stanley now owns 492,314 shares of the industrial products company’s stock worth $50,752,000 after buying an additional 403,909 shares in the last quarter. Finally, Ameriprise Financial Inc. lifted its position in AGCO by 63.4% during the first quarter. Ameriprise Financial Inc. now owns 1,005,063 shares of the industrial products company’s stock worth $144,375,000 after buying an additional 389,929 shares in the last quarter. 76.96% of the stock is currently owned by institutional investors.
A number of research firms have commented on AGCO. JPMorgan Chase & Co. upgraded AGCO from a “neutral” rating to an “overweight” rating and set a $164.00 target price on the stock in a research report on Tuesday, July 13th. Deutsche Bank Aktiengesellschaft cut their price objective on AGCO from $187.00 to $141.00 and set a “buy” rating on the stock in a report on Wednesday, July 14th. Credit Suisse Group upgraded AGCO from a “neutral” rating to an “outperform” rating and boosted their price objective for the company from $153.96 to $160.00 in a report on Thursday, July 1st. Morgan Stanley cut their price objective on AGCO from $164.00 to $161.00 and set an “overweight” rating on the stock in a report on Tuesday, July 13th. Finally, Zacks Investment Research downgraded AGCO from a “buy” rating to a “hold” rating and set a $157.00 price objective on the stock. in a report on Wednesday, April 14th. Four research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. The company presently has a consensus rating of “Buy” and an average target price of $138.60.
AGCO (NYSE:AGCO) last released its quarterly earnings data on Wednesday, April 28th. The industrial products company reported $2.00 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.11 by $0.89. The business had revenue of $2.38 billion during the quarter, compared to analysts’ expectations of $2.20 billion. AGCO had a return on equity of 17.44% and a net margin of 5.35%. The business’s quarterly revenue was up 23.4% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.86 EPS. As a group, research analysts forecast that AGCO Co. will post 8.64 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Wednesday, September 15th. Investors of record on Monday, August 16th will be given a $0.20 dividend. The ex-dividend date is Friday, August 13th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 0.64%. AGCO’s dividend payout ratio (DPR) is presently 14.26%.
In other news, SVP Robert B. Crain sold 20,000 shares of the stock in a transaction that occurred on Wednesday, May 5th. The stock was sold at an average price of $151.88, for a total transaction of $3,037,600.00. Following the completion of the transaction, the senior vice president now directly owns 73,346 shares of the company’s stock, valued at approximately $11,139,790.48. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, CFO Andrew H. Beck sold 20,595 shares of the stock in a transaction that occurred on Tuesday, May 4th. The stock was sold at an average price of $148.16, for a total value of $3,051,355.20. Following the transaction, the chief financial officer now directly owns 118,898 shares of the company’s stock, valued at $17,615,927.68. The disclosure for this sale can be found here. Over the last three months, insiders sold 61,155 shares of company stock valued at $9,116,620. Insiders own 17.40% of the company’s stock.
AGCO Corporation manufactures and distributes agricultural equipment and related replacement parts worldwide. It offers high horsepower tractors for row crop production, soil cultivation, planting, land leveling, seeding, and commercial hay operations; 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, equestrian, and residential uses.
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