Quantinno Capital Management LP boosted its stake in AGCO Corporation (NYSE:AGCO – Free Report) by 15.1% in the first quarter, Holdings Channel.com reports. The firm owned 492,234 shares of the industrial products company’s stock after acquiring an additional 64,453 shares during the quarter. Quantinno Capital Management LP’s holdings in AGCO were worth $57,035,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds have also recently bought and sold shares of AGCO. Lazard Asset Management LLC boosted its holdings in shares of AGCO by 138.1% in the 1st quarter. Lazard Asset Management LLC now owns 22,729 shares of the industrial products company’s stock valued at $2,634,000 after purchasing an additional 13,182 shares during the last quarter. Weiss Asset Management LP acquired a new stake in shares of AGCO during the 1st quarter worth $1,659,000. OMERS ADMINISTRATION Corp acquired a new stake in shares of AGCO during the 1st quarter worth $857,000. Bradley Foster & Sargent Inc. CT raised its position in shares of AGCO by 4.1% in the 1st quarter. Bradley Foster & Sargent Inc. CT now owns 4,313 shares of the industrial products company’s stock worth $500,000 after buying an additional 168 shares during the period. Finally, Entropy Technologies LP purchased a new position in shares of AGCO in the 1st quarter worth $1,469,000. Institutional investors and hedge funds own 78.80% of the company’s stock.
AGCO Stock Performance
AGCO stock opened at $116.18 on Thursday. AGCO Corporation has a 12-month low of $99.21 and a 12-month high of $143.78. The company has a debt-to-equity ratio of 0.47, a current ratio of 1.29 and a quick ratio of 0.57. The company has a market capitalization of $8.41 billion, a price-to-earnings ratio of 11.20, a price-to-earnings-growth ratio of 0.92 and a beta of 1.07. The firm’s fifty day moving average price is $115.24 and its 200 day moving average price is $118.67.
AGCO Announces Dividend
The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 15th. Shareholders of record on Friday, August 14th will be given a $0.30 dividend. This represents a $1.20 dividend on an annualized basis and a dividend yield of 1.0%. The ex-dividend date of this dividend is Friday, August 14th. AGCO’s dividend payout ratio is presently 11.57%.
Insider Activity at AGCO
In other news, major shareholder & Farm Equipment Ltd Tractors sold 422,590 shares of the stock in a transaction that occurred on Tuesday, May 5th. The stock was sold at an average price of $123.28, for a total transaction of $52,096,895.20. Following the completion of the transaction, the insider directly owned 3,149,820 shares in the company, valued at approximately $388,309,809.60. This represents a 11.83% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Company insiders own 0.62% of the company’s stock.
Analyst Upgrades and Downgrades
A number of analysts have recently issued reports on the company. Oppenheimer set a $134.00 target price on AGCO in a report on Wednesday, May 6th. JPMorgan Chase & Co. cut their target price on shares of AGCO from $143.00 to $130.00 and set an “overweight” rating on the stock in a research note on Monday, July 13th. DA Davidson assumed coverage on shares of AGCO in a research report on Friday, July 10th. They set a “buy” rating and a $160.00 price target for the company. Weiss Ratings lowered AGCO from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Wednesday, May 27th. Finally, UBS Group reaffirmed a “neutral” rating and issued a $123.00 target price on shares of AGCO in a research report on Sunday, May 10th. Four equities research analysts have rated the stock with a Buy rating, six have issued a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $129.64.
View Our Latest Research Report on AGCO
About AGCO
AGCO Corporation is a global leader in the design, manufacture and distribution of agricultural machinery and precision farming solutions. Headquartered in Duluth, Georgia, the company markets a diverse portfolio of well-known brands, including Massey Ferguson, Fendt, Challenger, Valtra and GSI, serving farmers and producers in North America, South America, Europe, the Middle East, Africa and Asia Pacific. Through an extensive dealer network, AGCO provides equipment tailored to a broad range of crop and livestock operations.
The company’s product offerings span tractors, combine harvesters, hay and forage tools, application equipment, seeding and tillage implements, as well as grain storage and protein solutions.
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