Advisor Partners LLC Invests $212,000 in AGCO Corporation (AGCO)
Advisor Partners LLC purchased a new stake in shares of AGCO Corporation (NYSE:AGCO) during the second quarter, Holdings Channel reports. The firm purchased 3,144 shares of the industrial products company’s stock, valued at approximately $212,000.
Several other institutional investors have also recently made changes to their positions in AGCO. Wells Fargo & Company MN raised its position in shares of AGCO Corporation by 1.6% in the first quarter. Wells Fargo & Company MN now owns 33,326 shares of the industrial products company’s stock valued at $2,006,000 after buying an additional 527 shares during the period. Russell Investments Group Ltd. raised its position in shares of AGCO Corporation by 15.7% in the first quarter. Russell Investments Group Ltd. now owns 248,647 shares of the industrial products company’s stock worth $14,965,000 after buying an additional 33,779 shares during the last quarter. Janney Montgomery Scott LLC bought a new position in shares of AGCO Corporation during the first quarter worth $378,000. Korea Investment CORP bought a new position in shares of AGCO Corporation during the first quarter worth $3,292,000. Finally, Nationwide Fund Advisors raised its position in shares of AGCO Corporation by 2.3% in the first quarter. Nationwide Fund Advisors now owns 131,444 shares of the industrial products company’s stock worth $7,910,000 after buying an additional 3,011 shares during the last quarter. 84.62% of the stock is owned by institutional investors.
AGCO Corporation (NYSE:AGCO) opened at 68.82 on Friday. AGCO Corporation has a 1-year low of $46.22 and a 1-year high of $73.97. The stock’s 50 day moving average is $70.13 and its 200-day moving average is $64.58. The firm has a market capitalization of $5.47 billion, a P/E ratio of 30.09 and a beta of 0.86.
AGCO Corporation (NYSE:AGCO) last issued its quarterly earnings data on Thursday, July 27th. The industrial products company reported $1.15 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.04 by $0.11. The firm had revenue of $2.17 billion during the quarter, compared to analysts’ expectations of $2.08 billion. AGCO Corporation had a net margin of 2.40% and a return on equity of 6.84%. The business’s revenue was up 8.5% on a year-over-year basis. During the same period last year, the company earned $1.25 earnings per share. Analysts forecast that AGCO Corporation will post $3.05 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 15th. Stockholders of record on Tuesday, August 15th will be issued a dividend of $0.14 per share. This represents a $0.56 dividend on an annualized basis and a dividend yield of 0.81%. The ex-dividend date is Friday, August 11th. AGCO Corporation’s dividend payout ratio is currently 24.56%.
ILLEGAL ACTIVITY WARNING: “Advisor Partners LLC Invests $212,000 in AGCO Corporation (AGCO)” was originally reported by Watch List News and is the property of of Watch List News. If you are accessing this news story on another website, it was illegally copied and republished in violation of US & international copyright & trademark law. The legal version of this news story can be read at https://www.watchlistnews.com/advisor-partners-llc-invests-212000-in-agco-corporation-agco/1481007.html.
A number of equities analysts recently weighed in on the stock. BidaskClub lowered shares of AGCO Corporation from a “buy” rating to a “hold” rating in a research note on Wednesday. Piper Jaffray Companies set a $66.00 target price on shares of AGCO Corporation and gave the stock a “hold” rating in a research note on Wednesday. UBS AG reaffirmed a “neutral” rating and issued a $73.00 target price (up from $68.00) on shares of AGCO Corporation in a research note on Monday, July 31st. BMO Capital Markets upped their target price on shares of AGCO Corporation from $70.00 to $75.00 and gave the stock a “market perform” rating in a research note on Tuesday, August 1st. Finally, TheStreet raised shares of AGCO Corporation from a “c+” rating to a “b+” rating in a research note on Thursday, July 27th. One research analyst has rated the stock with a sell rating, fourteen have assigned a hold rating and five have given a buy rating to the company. The stock currently has an average rating of “Hold” and an average target price of $64.80.
In other news, CFO Andrew H. Beck sold 10,000 shares of AGCO Corporation stock in a transaction dated Friday, August 4th. The shares were sold at an average price of $72.18, for a total transaction of $721,800.00. Following the completion of the transaction, the chief financial officer now directly owns 142,079 shares in the company, valued at $10,255,262.22. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP Robert B. Crain sold 15,000 shares of AGCO Corporation stock in a transaction dated Tuesday, August 1st. The shares were sold at an average price of $71.78, for a total transaction of $1,076,700.00. Following the transaction, the senior vice president now owns 89,322 shares of the company’s stock, valued at $6,411,533.16. The disclosure for this sale can be found here. Insiders have sold 26,000 shares of company stock valued at $1,871,500 over the last quarter. Corporate insiders own 16.60% of the company’s stock.
About AGCO Corporation
AGCO Corporation is a manufacturer and distributor of agricultural equipment and related replacement parts. The Company sells a range of agricultural equipment, including tractors, combines, self-propelled sprayers, hay tools, forage equipment, seeding and tillage equipment, implements, and grain storage and protein production systems.
Want to see what other hedge funds are holding AGCO? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for AGCO Corporation (NYSE:AGCO).
Receive News & Ratings for AGCO Corporation Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for AGCO Corporation and related companies with Analyst Ratings Network's FREE daily email newsletter.