IndexIQ Advisors LLC reduced its stake in AGCO Corporation (NYSE:AGCO) by 10.8% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 15,724 shares of the industrial products company’s stock after selling 1,907 shares during the period. IndexIQ Advisors LLC’s holdings in AGCO Corporation were worth $1,060,000 as of its most recent filing with the SEC.

Other hedge funds also recently made changes to their positions in the company. BlackRock Inc. increased its stake in shares of 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 period. Vanguard Group Inc. increased its stake in shares of 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. Dimensional Fund Advisors LP increased its stake in shares of AGCO Corporation by 1.7% in the first quarter. Dimensional Fund Advisors LP now owns 2,791,183 shares of the industrial products company’s stock valued at $167,973,000 after buying an additional 46,690 shares during the last quarter. Victory Capital Management Inc. increased its stake in shares of AGCO Corporation by 50.0% in the second quarter. Victory Capital Management Inc. now owns 2,600,116 shares of the industrial products company’s stock valued at $175,222,000 after buying an additional 866,708 shares during the last quarter. Finally, Thrivent Financial For Lutherans increased its stake in shares of AGCO Corporation by 2.9% in the first quarter. Thrivent Financial For Lutherans now owns 1,181,275 shares of the industrial products company’s stock valued at $71,089,000 after buying an additional 32,890 shares during the last quarter. 80.68% of the stock is currently owned by institutional investors and hedge funds.

AGCO Corporation (NYSE AGCO) opened at 67.90 on Thursday. The firm has a market capitalization of $5.40 billion, a PE ratio of 29.69 and a beta of 0.86. The company has a 50 day moving average price of $70.21 and a 200-day moving average price of $64.92. AGCO Corporation has a one year low of $46.22 and a one year high of $73.97.

AGCO Corporation (NYSE:AGCO) last released its earnings results 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 for the quarter, compared to analyst estimates of $2.08 billion. AGCO Corporation had a net margin of 2.40% and a return on equity of 6.84%. AGCO Corporation’s revenue for the quarter was up 8.5% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.25 earnings per share. On average, equities analysts predict that AGCO Corporation will post $3.05 EPS for the current year.

The company also recently announced a quarterly dividend, which will be paid on Friday, September 15th. Investors of record on Tuesday, August 15th will be issued a $0.14 dividend. The ex-dividend date of this dividend is Friday, August 11th. This represents a $0.56 annualized dividend and a yield of 0.82%. AGCO Corporation’s payout ratio is 24.56%.

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AGCO has been the topic of several recent analyst reports. TheStreet raised AGCO Corporation from a “c+” rating to a “b+” rating in a research note on Thursday, July 27th. BidaskClub downgraded AGCO Corporation from a “strong-buy” rating to a “buy” rating in a research note on Friday, July 28th. Royal Bank Of Canada reaffirmed a “hold” rating and set a $64.00 target price on shares of AGCO Corporation in a research note on Tuesday, June 6th. Jefferies Group LLC reaffirmed a “hold” rating and set a $61.00 target price on shares of AGCO Corporation in a research note on Wednesday, May 31st. Finally, Piper Jaffray Companies set a $66.00 target price on AGCO Corporation and gave the company a “hold” rating in a research note on Wednesday, August 9th. Two investment analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and five have assigned a buy rating to the company’s stock. AGCO Corporation currently has an average rating of “Hold” and an average price target of $64.80.

In other news, SVP Robert B. Crain sold 15,000 shares of the company’s stock in a transaction dated Tuesday, August 1st. The shares were sold at an average price of $71.78, for a total transaction of $1,076,700.00. Following the transaction, the senior vice president now owns 89,322 shares in the company, valued at $6,411,533.16. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Lucinda B. Smith sold 1,000 shares of the company’s stock in a transaction dated Tuesday, August 8th. The shares were sold at an average price of $73.00, for a total transaction of $73,000.00. Following the transaction, the senior vice president now owns 38,877 shares in the company, valued at approximately $2,838,021. The disclosure for this sale can be found here. In the last 90 days, insiders sold 26,750 shares of company stock worth $1,921,390. 16.60% of the stock is 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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Institutional Ownership by Quarter for AGCO Corporation (NYSE:AGCO)

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