AGCO Corporation (AGCO) Hits New 1-Year High at $75.02
AGCO Corporation (NYSE:AGCO) reached a new 52-week high during trading on Tuesday . The stock traded as high as $75.02 and last traded at $75.04, with a volume of 218,534 shares changing hands. The stock had previously closed at $74.17.
AGCO has been the topic of several recent analyst reports. Piper Jaffray Companies set a $66.00 price objective on AGCO Corporation and gave the company a “hold” rating in a research report on Wednesday, August 9th. UBS AG raised AGCO Corporation from a “sell” rating to a “neutral” rating and increased their price objective for the company from $52.00 to $68.00 in a research report on Wednesday, June 21st. Deutsche Bank AG reaffirmed a “buy” rating and set a $90.00 price objective (up from $88.00) on shares of AGCO Corporation in a research report on Thursday, September 21st. TheStreet raised AGCO Corporation from a “c+” rating to a “b+” rating in a research report on Thursday, July 27th. Finally, BidaskClub raised AGCO Corporation from a “hold” rating to a “buy” rating in a research report on Tuesday, June 13th. One research analyst has rated the stock with a sell rating, twelve have issued a hold rating and five have issued a buy rating to the stock. AGCO Corporation presently has an average rating of “Hold” and a consensus target price of $68.15.
The stock has a market cap of $5.98 billion, a P/E ratio of 32.87 and a beta of 0.86. The firm’s 50-day moving average price is $69.98 and its 200-day moving average price is $66.64.
AGCO Corporation (NYSE:AGCO) last posted its quarterly earnings results on Thursday, July 27th. The industrial products company reported $1.15 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.04 by $0.11. The business had revenue of $2.17 billion for the quarter, compared to the consensus estimate of $2.08 billion. AGCO Corporation had a return on equity of 6.84% and a net margin of 2.40%. The company’s quarterly revenue was up 8.5% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.25 EPS. On average, analysts forecast that AGCO Corporation will post $3.07 EPS for the current year.
The company also recently declared a quarterly dividend, which was paid on Friday, September 15th. Shareholders of record on Tuesday, August 15th were paid a dividend of $0.14 per share. The ex-dividend date of this dividend was Friday, August 11th. This represents a $0.56 annualized dividend and a yield of 0.74%. AGCO Corporation’s payout ratio is presently 24.56%.
In other AGCO Corporation news, CFO Andrew H. Beck sold 10,000 shares of the business’s stock in a transaction dated Friday, August 4th. The stock was sold at an average price of $72.18, for a total transaction of $721,800.00. Following the sale, the chief financial officer now owns 142,079 shares in the company, valued at approximately $10,255,262.22. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, SVP Robert B. Crain sold 15,000 shares of the business’s stock in a transaction dated Tuesday, August 1st. The shares were sold at an average price of $71.78, for a total value of $1,076,700.00. Following the sale, the senior vice president now owns 89,322 shares in the company, valued at approximately $6,411,533.16. The disclosure for this sale can be found here. In the last quarter, insiders have sold 26,750 shares of company stock worth $1,921,390. Company insiders own 16.60% of the company’s stock.
A number of institutional investors have recently bought and sold shares of AGCO. BlueMountain Capital Management LLC purchased a new stake in AGCO Corporation during the 2nd quarter valued at about $165,000. PNC Financial Services Group Inc. grew its stake in AGCO Corporation by 3.3% during the 1st quarter. PNC Financial Services Group Inc. now owns 3,367 shares of the industrial products company’s stock valued at $203,000 after purchasing an additional 106 shares during the last quarter. OLD Mutual Customised Solutions Proprietary Ltd. grew its stake in AGCO Corporation by 59.1% during the 1st quarter. OLD Mutual Customised Solutions Proprietary Ltd. now owns 3,500 shares of the industrial products company’s stock valued at $211,000 after purchasing an additional 1,300 shares during the last quarter. Advisor Partners LLC purchased a new stake in AGCO Corporation during the 2nd quarter valued at about $212,000. Finally, Numeric Investors LLC purchased a new stake in AGCO Corporation during the 2nd quarter valued at about $229,000. Institutional investors and hedge funds own 80.73% of the company’s stock.
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AGCO Corporation Company Profile
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.
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