DekaBank Deutsche Girozentrale Raises Stake in AGCO Co. (AGCO)

DekaBank Deutsche Girozentrale lifted its position in shares of AGCO Co. (NYSE:AGCO) by 6.8% in the third quarter, according to its most recent 13F filing with the SEC. The firm owned 51,511 shares of the industrial products company’s stock after purchasing an additional 3,282 shares during the quarter. DekaBank Deutsche Girozentrale owned about 0.07% of AGCO worth $3,115,000 as of its most recent filing with the SEC.

Other large investors have also recently modified their holdings of the company. Convergence Investment Partners LLC grew its holdings in shares of AGCO by 1,586.6% during the 2nd quarter. Convergence Investment Partners LLC now owns 3,407 shares of the industrial products company’s stock worth $207,000 after purchasing an additional 3,205 shares during the period. CHICAGO TRUST Co NA purchased a new stake in shares of AGCO during the 3rd quarter worth about $244,000. FDx Advisors Inc. grew its holdings in shares of AGCO by 21.7% during the 2nd quarter. FDx Advisors Inc. now owns 5,483 shares of the industrial products company’s stock worth $333,000 after purchasing an additional 978 shares during the period. Campbell & CO Investment Adviser LLC purchased a new stake in shares of AGCO during the 3rd quarter worth about $374,000. Finally, Allianz Asset Management GmbH grew its holdings in shares of AGCO by 26.8% during the 1st quarter. Allianz Asset Management GmbH now owns 6,263 shares of the industrial products company’s stock worth $406,000 after purchasing an additional 1,322 shares during the period. Institutional investors and hedge funds own 85.73% of the company’s stock.

Shares of AGCO opened at $59.68 on Monday. AGCO Co. has a 52-week low of $49.50 and a 52-week high of $75.95. The company has a market capitalization of $4.67 billion, a price-to-earnings ratio of 16.22, a price-to-earnings-growth ratio of 0.99 and a beta of 0.80. 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 earnings results on Tuesday, October 30th. The industrial products company reported $0.91 earnings per share (EPS) for the quarter, beating the Zacks’ 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 period in the prior year, the company posted $0.76 EPS. AGCO’s quarterly revenue was up 11.5% on a year-over-year basis. Sell-side analysts expect that AGCO Co. will post 3.78 earnings per share for the current fiscal year.

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

AGCO has been the topic of several recent research reports. JPMorgan Chase & Co. lowered AGCO from a “neutral” rating to an “underweight” rating and set a $55.00 price target on the stock. in a research report on Monday, August 13th. ValuEngine lowered AGCO from a “hold” rating to a “sell” rating in a research report on Tuesday, September 4th. Deutsche Bank set a $79.00 price target on AGCO and gave the stock a “buy” rating in a research report on Wednesday, September 5th. Zacks Investment Research lowered AGCO from a “hold” rating to a “sell” rating in a research report on Tuesday, October 16th. Finally, Morgan Stanley reduced their price target on AGCO from $66.00 to $53.00 and set a “sell” rating on the stock in a research report on Wednesday, October 31st. Three 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’s stock. AGCO currently has a consensus rating of “Hold” and a consensus target price of $67.00.

In other AGCO news, VP Gary L. Collar sold 2,070 shares of the company’s stock in a transaction that occurred on Monday, November 12th. The stock was sold at an average price of $56.64, for a total value of $117,244.80. Following the transaction, the vice president now directly owns 84,463 shares of the company’s stock, valued at approximately $4,783,984.32. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Corporate insiders own 16.70% of the company’s stock.

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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: Buyback

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Institutional Ownership by Quarter for AGCO (NYSE:AGCO)

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