Alliancebernstein L.P. Has $3.92 Million Holdings in AGCO Corporation (AGCO)
Alliancebernstein L.P. lessened its holdings in AGCO Corporation (NYSE:AGCO) by 38.6% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 58,168 shares of the industrial products company’s stock after selling 36,635 shares during the quarter. Alliancebernstein L.P. owned 0.07% of AGCO Corporation worth $3,920,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other institutional investors and hedge funds have also made changes to their positions in AGCO. BlackRock Inc. boosted its holdings in AGCO Corporation by 2,706.4% in the 1st quarter. BlackRock Inc. now owns 6,529,374 shares of the industrial products company’s stock valued at $392,938,000 after purchasing an additional 6,296,716 shares in the last quarter. Victory Capital Management Inc. boosted its stake in shares of AGCO Corporation by 50.0% during the 2nd quarter. Victory Capital Management Inc. now owns 2,600,116 shares of the industrial products company’s stock worth $175,222,000 after acquiring an additional 866,708 shares in the last quarter. Vanguard Group Inc. boosted its stake in shares of AGCO Corporation by 4.3% during the 1st quarter. Vanguard Group Inc. now owns 5,646,479 shares of the industrial products company’s stock worth $339,804,000 after acquiring an additional 232,091 shares in the last quarter. Canada Pension Plan Investment Board boosted its stake in shares of AGCO Corporation by 48.1% during the 2nd quarter. Canada Pension Plan Investment Board now owns 699,503 shares of the industrial products company’s stock worth $47,140,000 after acquiring an additional 227,300 shares in the last quarter. Finally, Barings LLC boosted its stake in shares of AGCO Corporation by 436.7% during the 1st quarter. Barings LLC now owns 216,636 shares of the industrial products company’s stock worth $13,037,000 after acquiring an additional 176,270 shares in the last quarter. 80.73% of the stock is currently owned by institutional investors.
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Several brokerages have recently commented on AGCO. Jefferies Group LLC reissued a “hold” rating and set a $75.00 price target on shares of AGCO Corporation in a research note on Thursday, August 31st. BidaskClub raised AGCO Corporation from a “hold” rating to a “buy” rating in a research note on Thursday, September 28th. William Blair raised AGCO Corporation from a “market perform” rating to an “outperform” rating in a research note on Tuesday, July 11th. UBS AG reissued a “neutral” rating and set a $73.00 price target (up previously from $68.00) on shares of AGCO Corporation in a research note on Monday, July 31st. Finally, BMO Capital Markets boosted their price target on AGCO Corporation from $70.00 to $75.00 and gave the stock a “market perform” rating in a research note on Tuesday, August 1st. One investment analyst has rated the stock with a sell rating, twelve have assigned a hold rating and five have issued a buy rating to the company. AGCO Corporation presently has a consensus rating of “Hold” and an average price target of $68.15.
In related news, SVP Lucinda B. Smith sold 1,000 shares of the firm’s stock in a transaction that occurred on Tuesday, August 8th. The shares were sold at an average price of $73.00, for a total transaction of $73,000.00. Following the completion of the sale, the senior vice president now directly owns 38,877 shares in the company, valued at $2,838,021. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, SVP Robert B. Crain sold 15,000 shares of the firm’s stock in a transaction that occurred on Tuesday, August 1st. The stock was sold at an average price of $71.78, for a total transaction of $1,076,700.00. Following the sale, the senior vice president now owns 89,322 shares of the company’s stock, valued at $6,411,533.16. The disclosure for this sale can be found here. Insiders have sold 26,750 shares of company stock valued at $1,921,390 over the last 90 days. 16.60% of the stock is currently owned by insiders.
AGCO Corporation (NYSE:AGCO) opened at 75.29 on Friday. The company’s 50 day moving average price is $70.15 and its 200 day moving average price is $66.70. The firm has a market capitalization of $5.99 billion, a P/E ratio of 32.92 and a beta of 0.86. AGCO Corporation has a 12 month low of $48.93 and a 12 month high of $75.58.
AGCO Corporation (NYSE:AGCO) last issued its earnings results on Thursday, July 27th. The industrial products company reported $1.15 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.04 by $0.11. The firm had revenue of $2.17 billion during the quarter, compared to analysts’ expectations of $2.08 billion. AGCO Corporation had a net margin of 2.40% and a return on equity of 6.84%. The firm’s revenue for the quarter was up 8.5% compared to the same quarter last year. During the same period last year, the firm posted $1.25 earnings per share. Analysts anticipate that AGCO Corporation will post $3.07 EPS for the current year.
The firm also recently announced a quarterly dividend, which was paid on Friday, September 15th. Investors of record on Tuesday, August 15th were issued a dividend of $0.14 per share. This represents a $0.56 dividend on an annualized basis and a yield of 0.74%. The ex-dividend date of this dividend was Friday, August 11th. AGCO Corporation’s payout ratio is 24.56%.
AGCO Corporation 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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