Insider Buying: AGCO Corp. Director Buys 97,894 Shares of Stock (AGCO)
AGCO Corp. (NASDAQ:AGCO) Director Mallika Srinivasan bought 97,894 shares of the company’s stock on the open market in a transaction that occurred on Friday, November 1st. The stock was purchased at an average price of $57.97 per share, with a total value of $5,674,915.18. Following the completion of the purchase, the director now directly owns 4,485 shares in the company, valued at approximately $259,995. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.
Shares of AGCO Corp. (NASDAQ:AGCO) traded up 1.06% on Monday, hitting $59.00. 708,582 shares of the company’s stock traded hands. AGCO Corp. has a 52 week low of $42.48 and a 52 week high of $64.60. The stock has a 50-day moving average of $61.13 and a 200-day moving average of $56.21. The company has a market cap of $5.747 billion and a P/E ratio of 10.31.
AGCO Corp. (NASDAQ:AGCO) last announced its earnings results on Tuesday, October 29th. The company reported $1.27 earnings per share (EPS) for the quarter, meeting the consensus estimate of $1.27. The company had revenue of $2.50 billion for the quarter, compared to the consensus estimate of $2.52 billion. During the same quarter in the previous year, the company posted $0.96 earnings per share. The company’s revenue for the quarter was up 7.9% on a year-over-year basis. On average, analysts predict that AGCO Corp. will post $6.04 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which is scheduled for Monday, December 16th. Shareholders of record on Friday, November 15th will be paid a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a dividend yield of 0.69%. The ex-dividend date is Wednesday, November 13th.
Separately, analysts at Morgan Stanley initiated coverage on shares of AGCO Corp. in a research note to investors on Thursday, September 5th. They set an “overweight” rating and a $73.00 price target on the stock. Two investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and four have issued a buy rating to the company’s stock. AGCO Corp. currently has a consensus rating of “Hold” and an average target price of $64.56.
AGCO Corporation (NASDAQ:AGCO) is a manufacturer and distributor of agricultural equipment and related replacement parts globally.
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