AGCO Corporation (AGCO) Stake Increased by BARING ASSET MANAGEMENT Ltd
BARING ASSET MANAGEMENT Ltd raised its stake in AGCO Corporation (NYSE:AGCO) by 7.3% during the second quarter, Holdings Channel reports. The institutional investor owned 190,157 shares of the industrial products company’s stock after buying an additional 12,887 shares during the period. AGCO Corporation comprises 0.8% of BARING ASSET MANAGEMENT Ltd’s investment portfolio, making the stock its 28th largest position. BARING ASSET MANAGEMENT Ltd’s holdings in AGCO Corporation were worth $12,815,000 as of its most recent SEC filing.
A number of other large investors have also added to or reduced their stakes in AGCO. Stevens Capital Management LP acquired a new stake in AGCO Corporation during the first quarter valued at approximately $3,648,000. Canada Pension Plan Investment Board boosted its stake in shares of AGCO Corporation by 138.0% in the first quarter. Canada Pension Plan Investment Board now owns 472,203 shares of the industrial products company’s stock worth $28,417,000 after buying an additional 273,800 shares during the period. Schwab Charles Investment Management Inc. boosted its stake in shares of AGCO Corporation by 6.5% in the first quarter. Schwab Charles Investment Management Inc. now owns 243,848 shares of the industrial products company’s stock worth $14,675,000 after buying an additional 14,879 shares during the period. Wells Fargo & Company MN boosted its stake 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 worth $2,006,000 after buying an additional 527 shares during the period. Finally, Capstone Asset Management Co. boosted its stake in shares of AGCO Corporation by 0.6% in the first quarter. Capstone Asset Management Co. now owns 8,140 shares of the industrial products company’s stock worth $490,000 after buying an additional 50 shares during the period. 85.65% of the stock is owned by institutional investors and hedge funds.
AGCO Corporation (AGCO) opened at 69.665 on Wednesday. The stock has a market cap of $5.54 billion, a PE ratio of 30.461 and a beta of 0.86. The company’s 50 day moving average price is $70.30 and its 200 day moving average price is $64.69. AGCO Corporation has a 12 month low of $46.22 and a 12 month high of $73.97.
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, topping the consensus estimate of $1.04 by $0.11. The company 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 firm’s quarterly revenue was up 8.5% compared to the same quarter last year. During the same quarter in the prior year, the business posted $1.25 EPS. Equities analysts forecast that AGCO Corporation will post $3.05 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Friday, September 15th. Investors of record on Tuesday, August 15th will be paid a $0.14 dividend. The ex-dividend date of this dividend is Friday, August 11th. This represents a $0.56 annualized dividend and a dividend yield of 0.80%. AGCO Corporation’s payout ratio is currently 24.56%.
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A number of brokerages have commented on AGCO. UBS AG raised AGCO Corporation from a “sell” rating to a “neutral” rating and raised their price objective for the company from $52.00 to $68.00 in a research note on Wednesday, June 21st. Credit Suisse Group set a $60.00 price objective on AGCO Corporation and gave the company a “hold” rating in a research note on Sunday, April 30th. J P Morgan Chase & Co raised AGCO Corporation from an “underweight” rating to a “neutral” rating and raised their price objective for the company from $47.00 to $60.00 in a research note on Monday, May 1st. Seaport Global Securities raised their price objective on AGCO Corporation from $57.00 to $61.00 and gave the company a “neutral” rating in a research note on Monday, May 1st. Finally, Royal Bank Of Canada reissued a “hold” rating and issued a $64.00 price objective on shares of AGCO Corporation in a research note on Tuesday, June 6th. One analyst has rated the stock with a sell rating, fourteen have given a hold rating and five have assigned a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and a consensus price target of $64.80.
In other AGCO Corporation news, SVP Lucinda B. Smith sold 1,000 shares of the stock in a transaction on Tuesday, August 8th. The stock was sold at an average price of $73.00, for a total transaction of $73,000.00. Following the sale, the senior vice president now directly owns 38,877 shares in the company, valued at approximately $2,838,021. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, SVP Robert B. Crain sold 15,000 shares of the stock in a transaction on 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 $6,411,533.16. The disclosure for this sale can be found here. Insiders sold a total of 26,000 shares of company stock worth $1,871,500 in the last 90 days. 16.60% of the stock is currently owned by company insiders.
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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