AGCO Corporation (AGCO) Holdings Increased by Schwab Charles Investment Management Inc.
Schwab Charles Investment Management Inc. boosted its position in AGCO Corporation (NYSE:AGCO) by 0.8% in the 3rd quarter, according to its most recent filing with the SEC. The firm owned 257,497 shares of the industrial products company’s stock after acquiring an additional 2,112 shares during the period. Schwab Charles Investment Management Inc. owned about 0.32% of AGCO worth $18,996,000 at the end of the most recent reporting period.
Other hedge funds have also recently added to or reduced their stakes in the company. BlueMountain Capital Management LLC purchased a new stake in AGCO in the 2nd quarter worth approximately $165,000. Toronto Dominion Bank grew its stake in AGCO by 240.4% in the 3rd quarter. Toronto Dominion Bank now owns 2,686 shares of the industrial products company’s stock worth $198,000 after acquiring an additional 1,897 shares during the period. CIBC Asset Management Inc purchased a new stake in AGCO in the 3rd quarter worth approximately $204,000. Stephens Inc. AR purchased a new stake in AGCO in the 3rd quarter worth approximately $218,000. Finally, Numeric Investors LLC purchased a new stake in AGCO in the 2nd quarter worth approximately $229,000. 82.92% of the stock is owned by hedge funds and other institutional investors.
A number of equities analysts have weighed in on the stock. J P Morgan Chase & Co lowered shares of AGCO from a “neutral” rating to an “underweight” rating and set a $65.00 price target on the stock. in a report on Tuesday, October 10th. Deutsche Bank reiterated a “buy” rating and issued a $86.00 price target (down previously from $90.00) on shares of AGCO in a report on Monday, October 9th. Bank of America lowered shares of AGCO from a “neutral” rating to an “underperform” rating and decreased their price target for the company from $74.65 to $70.00 in a report on Friday, October 13th. Zacks Investment Research lowered shares of AGCO from a “strong-buy” rating to a “hold” rating in a report on Wednesday, October 11th. Finally, BidaskClub upgraded shares of AGCO from a “hold” rating to a “buy” rating in a report on Thursday, September 28th. Three research analysts have rated the stock with a sell rating, twelve have issued a hold rating and four have issued a buy rating to the stock. AGCO presently has an average rating of “Hold” and an average target price of $71.60.
AGCO Corporation (NYSE:AGCO) opened at $72.39 on Wednesday. The company has a current ratio of 1.51, a quick ratio of 0.70 and a debt-to-equity ratio of 0.63. The firm has a market cap of $5,963.02, a price-to-earnings ratio of 27.16, a P/E/G ratio of 1.88 and a beta of 0.83. AGCO Corporation has a 1-year low of $57.06 and a 1-year high of $75.95.
AGCO (NYSE:AGCO) last posted its earnings results on Tuesday, October 31st. The industrial products company reported $0.79 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.72 by $0.07. The business had revenue of $1.99 billion for the quarter, compared to analyst estimates of $1.92 billion. AGCO had a net margin of 2.59% and a return on equity of 7.50%. The business’s quarterly revenue was up 12.8% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.51 EPS. research analysts forecast that AGCO Corporation will post 3.02 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which was paid on Friday, December 15th. Shareholders of record on Wednesday, November 15th were issued a $0.14 dividend. The ex-dividend date of this dividend was Tuesday, November 14th. This represents a $0.56 dividend on an annualized basis and a yield of 0.77%. AGCO’s dividend payout ratio is currently 22.05%.
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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