Scout Investments Inc. boosted its stake in shares of AGCO Co. (NYSE:AGCO) by 58.3% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 279,319 shares of the industrial products company’s stock after purchasing an additional 102,881 shares during the period. Scout Investments Inc. owned approximately 0.37% of AGCO worth $21,144,000 at the end of the most recent reporting period.
A number of other large investors also recently bought and sold shares of AGCO. Municipal Employees Retirement System of Michigan boosted its stake in AGCO by 1.1% during the 2nd quarter. Municipal Employees Retirement System of Michigan now owns 11,880 shares of the industrial products company’s stock valued at $922,000 after acquiring an additional 130 shares during the last quarter. LPL Financial LLC boosted its stake in AGCO by 5.6% during the 2nd quarter. LPL Financial LLC now owns 3,064 shares of the industrial products company’s stock valued at $238,000 after acquiring an additional 163 shares during the last quarter. Colony Group LLC boosted its stake in AGCO by 0.7% during the 2nd quarter. Colony Group LLC now owns 30,862 shares of the industrial products company’s stock valued at $2,394,000 after acquiring an additional 200 shares during the last quarter. Advisor Group Inc. boosted its stake in AGCO by 15.8% during the 2nd quarter. Advisor Group Inc. now owns 1,648 shares of the industrial products company’s stock valued at $129,000 after acquiring an additional 225 shares during the last quarter. Finally, Retirement Systems of Alabama boosted its stake in AGCO by 0.3% during the 2nd quarter. Retirement Systems of Alabama now owns 83,894 shares of the industrial products company’s stock valued at $6,508,000 after acquiring an additional 230 shares during the last quarter. 81.33% of the stock is currently owned by institutional investors.
AGCO has been the topic of a number of research analyst reports. BMO Capital Markets increased their price objective on shares of AGCO from $65.00 to $80.00 and gave the company a “market perform” rating in a research note on Monday, September 16th. Stephens started coverage on shares of AGCO in a research report on Wednesday, August 14th. They issued an “overweight” rating and a $80.00 price target on the stock. JPMorgan Chase & Co. upgraded shares of AGCO from a “neutral” rating to an “overweight” rating and raised their price target for the stock from $77.00 to $82.00 in a research report on Wednesday, September 11th. They noted that the move was a valuation call. Credit Suisse Group restated a “neutral” rating and issued a $83.00 price target (up from $70.00) on shares of AGCO in a research report on Wednesday, July 31st. Finally, OTR Global upgraded shares of AGCO to a “positive” rating in a research report on Friday, July 12th. Two analysts have rated the stock with a sell rating, seven have issued a hold rating and nine have assigned a buy rating to the company’s stock. The company has a consensus rating of “Hold” and an average target price of $79.00.
Shares of AGCO stock traded up $0.38 during trading hours on Wednesday, reaching $70.50. The company’s stock had a trading volume of 4,608 shares, compared to its average volume of 601,743. The company’s 50 day simple moving average is $72.36 and its 200 day simple moving average is $72.17. The company has a debt-to-equity ratio of 0.47, a quick ratio of 0.54 and a current ratio of 1.29. AGCO Co. has a one year low of $49.50 and a one year high of $80.64. The stock has a market cap of $5.38 billion, a P/E ratio of 18.15, a price-to-earnings-growth ratio of 1.05 and a beta of 0.97.
AGCO (NYSE:AGCO) last issued its quarterly earnings data on Tuesday, July 30th. The industrial products company reported $1.82 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.59 by $0.23. The firm had revenue of $2.42 billion for the quarter, compared to the consensus estimate of $2.55 billion. AGCO had a net margin of 4.07% and a return on equity of 12.64%. AGCO’s quarterly revenue was down 4.5% compared to the same quarter last year. During the same period last year, the firm posted $1.32 EPS. On average, sell-side analysts predict that AGCO Co. will post 5.08 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which was paid on Monday, September 16th. Investors of record on Thursday, August 15th were given a $0.16 dividend. The ex-dividend date of this dividend was Wednesday, August 14th. This represents a $0.64 annualized dividend and a yield of 0.91%. AGCO’s dividend payout ratio is presently 16.45%.
In other AGCO news, CAO Lara Thrush Long sold 2,326 shares of the firm’s stock in a transaction dated Friday, August 2nd. The shares were sold at an average price of $73.05, for a total transaction of $169,914.30. Following the transaction, the chief accounting officer now owns 3,991 shares of the company’s stock, valued at approximately $291,542.55. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, CFO Andrew H. Beck sold 10,000 shares of the firm’s stock in a transaction dated Monday, August 5th. The shares were sold at an average price of $71.17, for a total transaction of $711,700.00. Following the transaction, the chief financial officer now directly owns 178,776 shares in the company, valued at approximately $12,723,487.92. The disclosure for this sale can be found here. Over the last quarter, insiders sold 86,977 shares of company stock worth $6,483,768. 17.60% of the stock is currently owned by insiders.
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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