HighTower Advisors LLC lifted its stake in shares of AGCO Co. (NYSE:AGCO) by 4.8% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 7,914 shares of the industrial products company’s stock after purchasing an additional 361 shares during the quarter. HighTower Advisors LLC’s holdings in AGCO were worth $1,135,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds have also recently modified their holdings of AGCO. Norges Bank acquired a new position in AGCO during the 4th quarter worth approximately $121,803,000. Artemis Investment Management LLP increased its holdings in shares of 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 valued at $148,056,000 after acquiring an additional 797,466 shares in the last quarter. SummerHaven Investment Management LLC acquired a new position in shares of AGCO during the fourth quarter worth approximately $788,000. Morgan Stanley lifted its holdings in shares of AGCO by 456.9% in the 4th quarter. Morgan Stanley now owns 492,314 shares of the industrial products company’s stock worth $50,752,000 after purchasing an additional 403,909 shares in the last quarter. Finally, Migdal Insurance & Financial Holdings Ltd. acquired a new stake in AGCO in the 1st quarter valued at $46,349,000. Institutional investors own 76.66% of the company’s stock.
AGCO stock opened at $130.24 on Friday. The business’s fifty day moving average price is $144.56. AGCO Co. has a fifty-two week low of $52.05 and a fifty-two week high of $158.62. The company has a market cap of $9.81 billion, a P/E ratio of 19.18, a price-to-earnings-growth ratio of 0.96 and a beta of 1.34. The company has a debt-to-equity ratio of 0.30, a current ratio of 1.26 and a quick ratio of 0.57.
The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 15th. Investors of record on Friday, May 14th will be paid a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a yield of 0.61%. This is a positive change from AGCO’s previous quarterly dividend of $0.16. The ex-dividend date is Thursday, May 13th. AGCO’s payout ratio is currently 14.26%.
In other news, CFO Andrew H. Beck sold 20,595 shares of the stock in a transaction dated Tuesday, May 4th. The shares were sold at an average price of $148.16, for a total value of $3,051,355.20. Following the sale, the chief financial officer now directly owns 118,898 shares of the company’s stock, valued at $17,615,927.68. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CAO Lara Thrush Long sold 560 shares of the firm’s stock in a transaction that occurred on Friday, May 28th. The shares were sold at an average price of $138.33, for a total transaction of $77,464.80. Following the completion of the transaction, the chief accounting officer now owns 3,004 shares of the company’s stock, valued at $415,543.32. The disclosure for this sale can be found here. Insiders have sold a total of 61,155 shares of company stock worth $9,116,620 in the last three months. Insiders own 17.40% of the company’s stock.
A number of research analysts have weighed in on the stock. Credit Suisse Group raised their price objective on shares of AGCO from $131.00 to $142.00 and gave the company a “neutral” rating in a research note on Friday, March 5th. Citigroup Inc. 3% Minimum Coupon Principal Protected Based Upon Russell lifted their price target on AGCO from $140.00 to $165.00 in a research note on Tuesday, March 16th. Zacks Investment Research lowered AGCO from a “buy” rating to a “hold” rating and set a $157.00 target price on the stock. in a report on Wednesday, April 14th. Citigroup upped their price target on AGCO from $140.00 to $165.00 in a report on Tuesday, March 16th. Finally, Deutsche Bank Aktiengesellschaft raised their price objective on AGCO from $145.00 to $164.00 and gave the company a “buy” rating in a research note on Tuesday, April 13th. Six analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. The stock currently has a consensus rating of “Buy” and a consensus target price of $137.27.
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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