AGCO Co. (NYSE:AGCO) Shares Bought by Rhumbline Advisers
Rhumbline Advisers raised its holdings in AGCO Co. (NYSE:AGCO) by 8.1% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 168,993 shares of the industrial products company’s stock after purchasing an additional 12,670 shares during the period. Rhumbline Advisers owned about 0.23% of AGCO worth $7,985,000 as of its most recent SEC filing.
Other institutional investors and hedge funds have also made changes to their positions in the company. James Investment Research Inc. raised its position in shares of AGCO by 7.8% in the 4th quarter. James Investment Research Inc. now owns 20,000 shares of the industrial products company’s stock valued at $1,545,000 after purchasing an additional 1,450 shares in the last quarter. SG Americas Securities LLC raised its position in shares of AGCO by 471.6% in the 4th quarter. SG Americas Securities LLC now owns 30,178 shares of the industrial products company’s stock valued at $2,331,000 after purchasing an additional 24,898 shares in the last quarter. Amalgamated Bank raised its position in shares of AGCO by 10.8% in the 4th quarter. Amalgamated Bank now owns 14,561 shares of the industrial products company’s stock valued at $1,125,000 after purchasing an additional 1,418 shares in the last quarter. Empirical Finance LLC acquired a new position in shares of AGCO in the 1st quarter valued at approximately $1,191,000. Finally, Employees Retirement System of Texas increased its holdings in shares of AGCO by 44.8% in the 4th quarter. Employees Retirement System of Texas now owns 19,400 shares of the industrial products company’s stock valued at $1,499,000 after acquiring an additional 6,000 shares during the last quarter. 80.94% of the stock is currently owned by institutional investors.
A number of equities research analysts have recently weighed in on the company. TheStreet downgraded AGCO from a “b” rating to a “c+” rating in a report on Thursday, February 6th. Morgan Stanley lowered their price target on AGCO from $68.00 to $62.00 and set an “equal weight” rating for the company in a report on Monday, April 13th. ValuEngine upgraded AGCO from a “sell” rating to a “hold” rating in a report on Friday, February 21st. Barclays restated a “sell” rating and set a $54.00 price objective on shares of AGCO in a research note on Thursday, April 16th. Finally, JPMorgan Chase & Co. lowered their price objective on AGCO from $62.00 to $57.00 and set a “neutral” rating for the company in a research note on Wednesday, May 6th. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating and seven have issued a buy rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus target price of $74.86.
AGCO (NYSE:AGCO) last released its earnings results on Tuesday, May 5th. The industrial products company reported $0.86 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.42 by $0.44. The company had revenue of $1.93 billion during the quarter, compared to analysts’ expectations of $1.84 billion. AGCO had a return on equity of 11.59% and a net margin of 1.39%. The business’s revenue for the quarter was down 3.4% on a year-over-year basis. During the same period last year, the firm earned $0.86 EPS. On average, equities analysts expect that AGCO Co. will post 2.09 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Monday, June 15th. Stockholders of record on Friday, May 15th will be paid a $0.16 dividend. The ex-dividend date is Thursday, May 14th. This represents a $0.64 annualized dividend and a dividend yield of 1.25%. AGCO’s dividend payout ratio (DPR) is currently 14.41%.
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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