AGCO Corporation (AGCO) SVP Hans Bernd Veltmaat Sells 750 Shares of Stock
AGCO Corporation (NYSE:AGCO) SVP Hans Bernd Veltmaat sold 750 shares of the firm’s stock in a transaction dated Tuesday, August 29th. The stock was sold at an average price of $66.52, for a total transaction of $49,890.00. Following the completion of the sale, the senior vice president now directly owns 68,552 shares of the company’s stock, valued at $4,560,079.04. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website.
AGCO Corporation (NYSE:AGCO) opened at 66.56 on Wednesday. The stock has a market capitalization of $5.29 billion, a PE ratio of 29.10 and a beta of 0.86. AGCO Corporation has a 12 month low of $46.22 and a 12 month high of $73.97. The company’s 50-day moving average is $70.21 and its 200-day moving average is $64.92.
AGCO Corporation (NYSE:AGCO) last announced its quarterly earnings data on Thursday, July 27th. The industrial products company reported $1.15 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.04 by $0.11. The business had revenue of $2.17 billion during the quarter, compared to analysts’ expectations of $2.08 billion. AGCO Corporation had a return on equity of 6.84% and a net margin of 2.40%. The business’s quarterly revenue was up 8.5% compared to the same quarter last year. During the same quarter last year, the business posted $1.25 EPS. Equities research analysts forecast that AGCO Corporation will post $3.05 EPS for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, September 15th. Investors of record on Tuesday, August 15th will be paid a dividend of $0.14 per share. This represents a $0.56 annualized dividend and a yield of 0.84%. The ex-dividend date is Friday, August 11th. AGCO Corporation’s payout ratio is 24.56%.
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Several equities research analysts have recently commented on the stock. BidaskClub cut shares of AGCO Corporation from a “buy” rating to a “hold” rating in a research report on Wednesday, August 9th. Piper Jaffray Companies set a $66.00 target price on shares of AGCO Corporation and gave the stock a “hold” rating in a research report on Wednesday, August 9th. BMO Capital Markets raised 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 report on Tuesday, August 1st. 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 report on Monday, July 31st. Finally, TheStreet raised shares of AGCO Corporation from a “c+” rating to a “b+” rating in a research report on Thursday, July 27th. Two research analysts have rated the stock with a sell rating, thirteen have given a hold rating and five have assigned a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and a consensus price target of $64.80.
A number of large investors have recently bought and sold shares of AGCO. BlackRock Inc. boosted its stake in AGCO Corporation by 2,706.4% in the first quarter. BlackRock Inc. now owns 6,529,374 shares of the industrial products company’s stock valued at $392,938,000 after buying an additional 6,296,716 shares during the last quarter. Victory Capital Management Inc. acquired a new stake in AGCO Corporation during the first quarter valued at $104,317,000. FMR LLC boosted its stake in AGCO Corporation by 23.6% in the second quarter. FMR LLC now owns 1,606,000 shares of the industrial products company’s stock valued at $108,228,000 after buying an additional 306,505 shares during the last quarter. Canada Pension Plan Investment Board boosted its stake in 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 valued at $28,417,000 after buying an additional 273,800 shares during the last quarter. Finally, Vanguard Group Inc. boosted its stake in AGCO Corporation by 4.3% in the first quarter. Vanguard Group Inc. now owns 5,646,479 shares of the industrial products company’s stock valued at $339,804,000 after buying an additional 232,091 shares during the last quarter. Hedge funds and other institutional investors own 80.68% 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.
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