WINTON GROUP Ltd lifted its stake in AGCO Co. (NYSE:AGCO) by 102.1% during the third quarter, HoldingsChannel reports. The fund owned 155,979 shares of the industrial products company’s stock after acquiring an additional 78,793 shares during the quarter. WINTON GROUP Ltd’s holdings in AGCO were worth $9,482,000 as of its most recent filing with the SEC.
Several other hedge funds also recently modified their holdings of AGCO. BlackRock Inc. grew its holdings in AGCO by 1.6% in the 2nd quarter. BlackRock Inc. now owns 6,648,000 shares of the industrial products company’s stock valued at $403,667,000 after buying an additional 107,096 shares during the last quarter. Victory Capital Management Inc. grew its holdings in AGCO by 9.9% in the 3rd quarter. Victory Capital Management Inc. now owns 3,125,516 shares of the industrial products company’s stock valued at $190,000,000 after buying an additional 280,561 shares during the last quarter. Dimensional Fund Advisors LP grew its holdings in AGCO by 0.7% in the 2nd quarter. Dimensional Fund Advisors LP now owns 2,679,076 shares of the industrial products company’s stock valued at $162,673,000 after buying an additional 17,838 shares during the last quarter. Massachusetts Financial Services Co. MA grew its holdings in AGCO by 45.5% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 2,018,666 shares of the industrial products company’s stock valued at $122,715,000 after buying an additional 631,175 shares during the last quarter. Finally, AGF Investments Inc. grew its holdings in AGCO by 10.7% in the 2nd quarter. AGF Investments Inc. now owns 1,648,127 shares of the industrial products company’s stock valued at $100,074,000 after buying an additional 159,307 shares during the last quarter. 86.15% of the stock is currently owned by institutional investors and hedge funds.
Shares of NYSE:AGCO opened at $55.78 on Friday. AGCO Co. has a 1-year low of $49.50 and a 1-year high of $75.95. The company has a market cap of $4.61 billion, a PE ratio of 18.47, a PEG ratio of 0.97 and a beta of 0.78. The company has a current ratio of 1.42, a quick ratio of 0.63 and a debt-to-equity ratio of 0.57.
AGCO (NYSE:AGCO) last announced its quarterly earnings data on Tuesday, October 30th. The industrial products company reported $0.91 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.83 by $0.08. AGCO had a return on equity of 9.70% and a net margin of 2.49%. The company had revenue of $2.21 billion for the quarter, compared to analyst estimates of $2.15 billion. During the same quarter last year, the firm earned $0.76 EPS. AGCO’s revenue for the quarter was up 11.5% compared to the same quarter last year. Research analysts expect that AGCO Co. will post 3.78 EPS for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 14th. Stockholders of record on Thursday, November 15th will be issued a dividend of $0.15 per share. This represents a $0.60 annualized dividend and a dividend yield of 1.08%. The ex-dividend date is Wednesday, November 14th. AGCO’s payout ratio is presently 19.87%.
A number of analysts have issued reports on AGCO shares. ValuEngine lowered AGCO from a “hold” rating to a “sell” rating in a report on Monday, July 16th. Credit Suisse Group lowered their target price on AGCO from $68.00 to $63.00 and set a “neutral” rating on the stock in a report on Wednesday, October 31st. Morgan Stanley lowered their target price on AGCO from $66.00 to $53.00 and set a “sell” rating on the stock in a report on Wednesday, October 31st. Citigroup lowered their target price on AGCO from $65.00 to $64.00 and set a “neutral” rating on the stock in a report on Friday, November 2nd. Finally, Deutsche Bank reaffirmed a “buy” rating on shares of AGCO in a report on Monday, September 24th. Three research analysts have rated the stock with a sell rating, eleven have assigned a hold rating and two have given a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and an average price target of $68.64.
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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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