Hsbc Holdings PLC lowered its position in AGCO Co. (NYSE:AGCO) by 6.5% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 98,498 shares of the industrial products company’s stock after selling 6,795 shares during the period. Hsbc Holdings PLC owned about 0.13% of AGCO worth $5,988,000 as of its most recent filing with the Securities & Exchange Commission.
Other large investors have also recently made changes to their positions in the company. Sei Investments Co. lifted its position in shares of AGCO by 200.1% during the 2nd quarter. Sei Investments Co. now owns 110,305 shares of the industrial products company’s stock valued at $6,698,000 after acquiring an additional 73,550 shares during the period. Segall Bryant & Hamill LLC acquired a new stake in shares of AGCO during the 2nd quarter valued at approximately $2,283,000. FDx Advisors Inc. lifted its position 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 valued at $333,000 after acquiring an additional 978 shares during the period. Elk Creek Partners LLC lifted its position in shares of AGCO by 12.0% during the 3rd quarter. Elk Creek Partners LLC now owns 81,774 shares of the industrial products company’s stock valued at $4,971,000 after acquiring an additional 8,784 shares during the period. Finally, AGF Investments Inc. lifted its position in shares of AGCO by 10.7% during the 2nd quarter. AGF Investments Inc. now owns 1,648,127 shares of the industrial products company’s stock valued at $100,074,000 after acquiring an additional 159,307 shares during the period. Hedge funds and other institutional investors own 85.73% of the company’s stock.
A number of research firms have recently issued reports on AGCO. Bank of America upgraded shares of AGCO from an “underperform” rating to a “neutral” rating and lifted their price target for the company from $58.00 to $63.00 in a research report on Monday, December 3rd. ValuEngine raised shares of AGCO from a “sell” rating to a “hold” rating in a research note on Tuesday, October 2nd. JPMorgan Chase & Co. cut 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. Deutsche Bank set a $79.00 price objective on shares of AGCO and gave the stock a “buy” rating in a research note on Wednesday, September 5th. Finally, Zacks Investment Research cut shares of AGCO from a “hold” rating to a “sell” rating in a research note on Tuesday, October 16th. Two research analysts have rated the stock with a sell rating, twelve have assigned a hold rating and three have assigned a buy rating to the company. AGCO presently has an average rating of “Hold” and a consensus price target of $66.92.
Shares of AGCO opened at $56.76 on Friday. The company has a debt-to-equity ratio of 0.57, a current ratio of 1.42 and a quick ratio of 0.63. AGCO Co. has a 1-year low of $49.50 and a 1-year high of $75.95. The company has a market cap of $4.56 billion, a PE ratio of 15.81, a price-to-earnings-growth ratio of 0.96 and a beta of 0.80.
AGCO (NYSE:AGCO) last issued its quarterly earnings data on Tuesday, October 30th. The industrial products company reported $0.91 earnings per share for the quarter, topping the Zacks’ 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 business had revenue of $2.21 billion during the quarter, compared to analysts’ expectations of $2.15 billion. During the same period last year, the company posted $0.76 EPS. The company’s revenue was up 11.5% on a year-over-year basis. As a group, sell-side analysts expect 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. Shareholders of record on Thursday, November 15th will be paid a $0.15 dividend. The ex-dividend date is Wednesday, November 14th. This represents a $0.60 annualized dividend and a yield of 1.06%. AGCO’s payout ratio is currently 19.87%.
In other AGCO news, VP Gary L. Collar sold 2,070 shares of AGCO stock in a transaction that occurred on Monday, November 12th. The shares were sold at an average price of $56.64, for a total value of $117,244.80. Following the completion of the sale, the vice president now directly owns 84,463 shares of the company’s stock, valued at approximately $4,783,984.32. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 16.60% of the stock is currently owned by insiders.
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AGCO Company Profile
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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