AGCO Co. (AGCO) Stake Increased by FIL Ltd

FIL Ltd grew its stake in shares of AGCO Co. (NYSE:AGCO) by 7.5% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 33,300 shares of the industrial products company’s stock after purchasing an additional 2,309 shares during the quarter. FIL Ltd’s holdings in AGCO were worth $2,025,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently modified their holdings of the company. Massachusetts Financial Services Co. MA purchased a new stake in AGCO in the second quarter worth about $84,249,000. Victory Capital Management Inc. lifted its stake in AGCO by 9.9% in the third quarter. Victory Capital Management Inc. now owns 3,125,516 shares of the industrial products company’s stock worth $190,000,000 after acquiring an additional 280,561 shares during the period. SG Americas Securities LLC lifted its stake in AGCO by 1,170.4% in the third quarter. SG Americas Securities LLC now owns 211,851 shares of the industrial products company’s stock worth $12,878,000 after acquiring an additional 195,175 shares during the period. AGF Investments Inc. lifted its stake in AGCO by 10.7% in the second quarter. AGF Investments Inc. now owns 1,648,127 shares of the industrial products company’s stock worth $100,074,000 after acquiring an additional 159,307 shares during the period. Finally, BlackRock Inc. lifted its stake in AGCO by 1.6% in the second quarter. BlackRock Inc. now owns 6,648,000 shares of the industrial products company’s stock worth $403,667,000 after acquiring an additional 107,096 shares during the period. 85.73% of the stock is owned by hedge funds and other institutional investors.

In other news, VP Gary L. Collar sold 2,070 shares of the company’s stock in a transaction dated 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 owns 84,463 shares in the company, valued at $4,783,984.32. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 16.70% of the company’s stock.

Shares of AGCO stock opened at $59.68 on Monday. The stock has a market capitalization of $4.67 billion, a price-to-earnings ratio of 16.22, a PEG ratio of 0.99 and a beta of 0.80. 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 one year low of $49.50 and a one year high of $75.95.

AGCO (NYSE:AGCO) last announced its earnings results on Tuesday, October 30th. The industrial products company reported $0.91 EPS for the quarter, topping the Zacks’ consensus estimate of $0.83 by $0.08. The business had revenue of $2.21 billion during the quarter, compared to the consensus estimate of $2.15 billion. AGCO had a net margin of 2.49% and a return on equity of 9.70%. The firm’s revenue was up 11.5% on a year-over-year basis. During the same period in the previous year, the company posted $0.76 earnings per share. On average, sell-side analysts anticipate that AGCO Co. will post 3.78 EPS for the current year.

The company also recently announced a quarterly dividend, which will be paid on Friday, December 14th. Shareholders of record on Thursday, November 15th will be issued a $0.15 dividend. The ex-dividend date is Wednesday, November 14th. This represents a $0.60 dividend on an annualized basis and a yield of 1.01%. AGCO’s dividend payout ratio is presently 19.87%.

A number of analysts recently weighed in on the stock. Deutsche Bank reaffirmed a “buy” rating on shares of AGCO in a research note on Monday, September 24th. ValuEngine raised shares of AGCO from a “sell” rating to a “hold” rating in a research note on Tuesday, October 2nd. JPMorgan Chase & Co. lowered shares of AGCO from a “neutral” rating to an “underweight” rating and set a $55.00 price objective for the company. in a research note on Monday, August 13th. William Blair reaffirmed a “buy” rating on shares of AGCO in a research note on Wednesday, November 21st. Finally, UBS Group set a $63.00 target price on shares of AGCO and gave the stock a “hold” rating in a report on Wednesday, November 7th. Three equities research analysts have rated the stock with a sell rating, eleven have assigned a hold rating and three have assigned a buy rating to the company. The company presently has a consensus rating of “Hold” and a consensus target price of $67.00.

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About AGCO

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.

Further Reading: What are retained earnings?

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Institutional Ownership by Quarter for AGCO (NYSE:AGCO)

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