Great West Life Assurance Co. Can Trims Stake in AGCO Corporation (AGCO)
Great West Life Assurance Co. Can trimmed its position in shares of AGCO Corporation (NYSE:AGCO) by 2.7% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 51,482 shares of the industrial products company’s stock after selling 1,413 shares during the quarter. Great West Life Assurance Co. Can owned approximately 0.06% of AGCO worth $3,780,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other institutional investors have also recently made changes to their positions in the company. Victory Capital Management Inc. lifted its holdings in AGCO by 50.0% in 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 purchasing an additional 866,708 shares during the last quarter. FMR LLC lifted its holdings in AGCO by 23.6% in the 2nd quarter. FMR LLC now owns 1,606,000 shares of the industrial products company’s stock worth $108,228,000 after purchasing an additional 306,505 shares during the last quarter. Teacher Retirement System of Texas lifted its holdings in AGCO by 262.8% in the 3rd quarter. Teacher Retirement System of Texas now owns 364,230 shares of the industrial products company’s stock worth $26,869,000 after purchasing an additional 263,831 shares during the last quarter. Old Mutual Global Investors UK Ltd. acquired a new stake in AGCO in the 3rd quarter worth approximately $17,343,000. Finally, TD Asset Management Inc. lifted its holdings in AGCO by 85.0% in the 3rd quarter. TD Asset Management Inc. now owns 465,738 shares of the industrial products company’s stock worth $34,357,000 after purchasing an additional 214,037 shares during the last quarter. Institutional investors and hedge funds own 82.97% of the company’s stock.
Shares of AGCO Corporation (NYSE AGCO) opened at $72.46 on Monday. AGCO Corporation has a 1 year low of $57.06 and a 1 year high of $75.58. The firm has a market capitalization of $5,764.15, a price-to-earnings ratio of 26.25, a price-to-earnings-growth ratio of 1.82 and a beta of 0.83. The company has a debt-to-equity ratio of 0.63, a current ratio of 1.51 and a quick ratio of 0.70.
AGCO (NYSE:AGCO) last announced its quarterly earnings results on Tuesday, October 31st. The industrial products company reported $0.79 earnings per share for the quarter, beating analysts’ consensus estimates of $0.72 by $0.07. AGCO had a return on equity of 7.50% and a net margin of 2.59%. The firm had revenue of $1.99 billion for the quarter, compared to analysts’ expectations of $1.92 billion. During the same period in the prior year, the business posted $0.51 earnings per share. The business’s revenue was up 12.8% compared to the same quarter last year. equities research analysts anticipate that AGCO Corporation will post 3.02 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 15th. Shareholders of record on Wednesday, November 15th will be paid a $0.14 dividend. This represents a $0.56 dividend on an annualized basis and a yield of 0.77%. The ex-dividend date of this dividend is Tuesday, November 14th. AGCO’s dividend payout ratio is currently 22.05%.
In other AGCO news, SVP Robert B. Crain sold 7,000 shares of the business’s stock in a transaction on Thursday, November 30th. The stock was sold at an average price of $70.72, for a total value of $495,040.00. The transaction was disclosed in a document filed with the SEC, which is available at this link. 16.60% of the stock is currently owned by insiders.
Several brokerages have commented on AGCO. J P Morgan Chase & Co downgraded AGCO from a “neutral” rating to an “underweight” rating and set a $65.00 price target on the stock. in a research report on Tuesday, October 10th. Deutsche Bank reaffirmed a “buy” rating and issued a $86.00 price target (down from $90.00) on shares of AGCO in a research report on Monday, October 9th. Bank of America downgraded AGCO from a “neutral” rating to an “underperform” rating and dropped their price target for the stock from $74.65 to $70.00 in a research report on Friday, October 13th. Zacks Investment Research downgraded AGCO from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, October 11th. Finally, BidaskClub raised AGCO from a “hold” rating to a “buy” rating in a research report on Thursday, September 28th. Three equities research analysts have rated the stock with a sell rating, twelve have given a hold rating and four have assigned a buy rating to the company. AGCO currently has an average rating of “Hold” and a consensus target price of $70.47.
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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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