Fjarde AP Fonden Fourth Swedish National Pension Fund increased its holdings in shares of AGCO Co. (NYSE:AGCO) by 7.0% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 28,076 shares of the industrial products company’s stock after purchasing an additional 1,827 shares during the period. Fjarde AP Fonden Fourth Swedish National Pension Fund’s holdings in AGCO were worth $1,707,000 at the end of the most recent quarter.
Other large investors have also added to or reduced their stakes in the company. Principal Financial Group Inc. raised its position in AGCO by 2.7% during the first quarter. Principal Financial Group Inc. now owns 288,845 shares of the industrial products company’s stock worth $18,732,000 after acquiring an additional 7,589 shares during the last quarter. Allianz Asset Management GmbH grew its holdings in shares of AGCO by 26.8% during the first quarter. Allianz Asset Management GmbH now owns 6,263 shares of the industrial products company’s stock worth $406,000 after buying an additional 1,322 shares in the last quarter. Bank of Montreal Can grew its holdings in shares of AGCO by 56.0% during the second quarter. Bank of Montreal Can now owns 30,078 shares of the industrial products company’s stock worth $1,826,000 after buying an additional 10,800 shares in the last quarter. Whittier Trust Co. purchased a new stake in shares of AGCO during the second quarter worth about $124,000. Finally, Eqis Capital Management Inc. grew its holdings in shares of AGCO by 196.4% during the second quarter. Eqis Capital Management Inc. now owns 12,701 shares of the industrial products company’s stock worth $771,000 after buying an additional 8,416 shares in the last quarter. Institutional investors and hedge funds own 87.03% of the company’s stock.
In other news, VP Gary L. Collar sold 2,070 shares of the business’s stock in a transaction on Monday, November 12th. The shares were sold at an average price of $56.64, for a total transaction of $117,244.80. Following the transaction, the vice president now directly owns 84,463 shares of the company’s stock, valued at $4,783,984.32. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Insiders own 16.60% of the company’s stock.
AGCO opened at $58.50 on Friday. The company has a quick ratio of 0.63, a current ratio of 1.42 and a debt-to-equity ratio of 0.57. AGCO Co. has a 52-week low of $49.50 and a 52-week high of $75.95. The company has a market cap of $4.63 billion, a price-to-earnings ratio of 16.07, a price-to-earnings-growth ratio of 0.98 and a beta of 0.78.
AGCO (NYSE:AGCO) last released its quarterly earnings data on Tuesday, October 30th. The industrial products company reported $0.91 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.83 by $0.08. AGCO had a net margin of 2.49% and a return on equity of 9.70%. The company had revenue of $2.21 billion during the quarter, compared to the consensus estimate of $2.15 billion. During the same period in the previous year, the firm earned $0.76 earnings per share. AGCO’s revenue for the quarter was up 11.5% on a year-over-year basis. On average, research analysts predict that AGCO Co. will post 3.78 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Friday, December 14th. Stockholders of record on Thursday, November 15th will be given a dividend of $0.15 per share. The ex-dividend date is Wednesday, November 14th. This represents a $0.60 dividend on an annualized basis and a dividend yield of 1.03%. AGCO’s payout ratio is currently 19.87%.
A number of equities research analysts have recently commented on AGCO shares. Deutsche Bank set a $79.00 price target on shares of AGCO and gave the stock a “buy” rating in a report on Wednesday, September 5th. ValuEngine downgraded shares of AGCO from a “hold” rating to a “sell” rating in a report on Tuesday, October 23rd. Morgan Stanley lowered their price target on shares of AGCO from $66.00 to $53.00 and set a “sell” rating for the company in a report on Wednesday, October 31st. Credit Suisse Group decreased their price objective on shares of AGCO from $68.00 to $63.00 and set a “neutral” rating for the company in a research note on Wednesday, October 31st. Finally, UBS Group set a $63.00 price objective on shares of AGCO and gave the stock a “hold” rating in a research note on Wednesday, November 7th. Three research analysts have rated the stock with a sell rating, eleven have given a hold rating and three have given a buy rating to the company. AGCO currently has an average rating of “Hold” and a consensus target price of $68.64.
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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