Ameriprise Financial Inc. boosted its position in shares of AGCO Corporation (NYSE:AGCO) by 6.2% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 367,084 shares of the industrial products company’s stock after acquiring an additional 21,579 shares during the period. Ameriprise Financial Inc. owned 0.46% of AGCO worth $27,080,000 at the end of the most recent quarter.
A number of other institutional investors have also recently added to or reduced their stakes in the business. BlueMountain Capital Management LLC acquired a new position in shares of AGCO during the second quarter valued at about $165,000. Toronto Dominion Bank raised its position in shares of AGCO by 240.4% during the third quarter. Toronto Dominion Bank now owns 2,686 shares of the industrial products company’s stock valued at $198,000 after buying an additional 1,897 shares during the last quarter. CIBC Asset Management Inc acquired a new position in shares of AGCO during the third quarter valued at about $204,000. Advisor Partners LLC acquired a new position in shares of AGCO during the second quarter valued at about $212,000. Finally, Numeric Investors LLC acquired a new position in shares of AGCO during the second quarter valued at about $229,000. 82.63% of the stock is owned by hedge funds and other institutional investors.
In other news, SVP Robert B. Crain sold 7,000 shares of the stock in a transaction that occurred on Thursday, November 30th. The shares were sold at an average price of $70.72, for a total transaction of $495,040.00. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. 16.60% of the stock is owned by corporate insiders.
Several research firms recently issued reports on AGCO. J P Morgan Chase & Co lowered shares of AGCO from a “neutral” rating to an “underweight” rating and set a $65.00 price target for the company. in a research report on Tuesday, October 10th. Deutsche Bank reissued a “buy” rating and issued a $86.00 price target (down previously from $90.00) on shares of AGCO in a research report on Monday, October 9th. Bank of America lowered shares of AGCO from a “neutral” rating to an “underperform” rating and dropped their price target for the stock from $74.65 to $70.00 in a research report on Friday, October 13th. Zacks Investment Research lowered shares of AGCO from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, October 11th. Finally, BidaskClub lowered shares of AGCO from a “buy” rating to a “hold” rating in a research report on Wednesday, August 9th. Three research analysts have rated the stock with a sell rating, twelve have issued a hold rating and four have given a buy rating to the company. The company presently has an average rating of “Hold” and an average target price of $70.47.
Shares of AGCO Corporation (AGCO) opened at $70.71 on Thursday. The company has a debt-to-equity ratio of 0.63, a quick ratio of 0.70 and a current ratio of 1.51. The firm has a market cap of $5,687.78, a PE ratio of 25.91, a price-to-earnings-growth ratio of 1.80 and a beta of 0.83. AGCO Corporation has a 52 week low of $57.06 and a 52 week high of $75.58.
AGCO (NYSE:AGCO) last released its quarterly earnings results on Tuesday, October 31st. The industrial products company reported $0.79 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.72 by $0.07. AGCO had a net margin of 2.59% and a return on equity of 7.50%. The business had revenue of $1.99 billion for the quarter, compared to analysts’ expectations of $1.92 billion. During the same period in the prior year, the firm earned $0.51 earnings per share. AGCO’s revenue was up 12.8% compared to the same quarter last year. sell-side analysts predict that AGCO Corporation will post 3.02 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Friday, December 15th. Stockholders of record on Wednesday, November 15th will be paid a dividend of $0.14 per share. The ex-dividend date of this dividend is Tuesday, November 14th. This represents a $0.56 annualized dividend and a dividend yield of 0.79%. AGCO’s dividend payout ratio (DPR) is currently 22.05%.
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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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