Legal & General Group Plc Raises Holdings in AGCO Corporation (AGCO)
Legal & General Group Plc raised its stake in shares of AGCO Corporation (NYSE:AGCO) by 10.6% in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 162,429 shares of the industrial products company’s stock after buying an additional 15,522 shares during the period. Legal & General Group Plc owned about 0.20% of AGCO worth $11,981,000 as of its most recent SEC filing.
Other large investors also recently modified their holdings of the company. Bank of Montreal Can acquired a new stake in shares of AGCO in the 2nd quarter valued at $1,398,000. Schwab Charles Investment Management Inc. lifted its stake in shares of AGCO by 4.7% in the 2nd quarter. Schwab Charles Investment Management Inc. now owns 255,385 shares of the industrial products company’s stock valued at $17,211,000 after purchasing an additional 11,537 shares during the last quarter. Arizona State Retirement System lifted its stake in shares of AGCO by 1.1% in the 2nd quarter. Arizona State Retirement System now owns 28,100 shares of the industrial products company’s stock valued at $1,894,000 after purchasing an additional 300 shares during the last quarter. DekaBank Deutsche Girozentrale lifted its stake in shares of AGCO by 2.2% in the 2nd quarter. DekaBank Deutsche Girozentrale now owns 21,742 shares of the industrial products company’s stock valued at $1,506,000 after purchasing an additional 458 shares during the last quarter. Finally, Convergence Investment Partners LLC acquired a new stake in shares of AGCO in the 2nd quarter valued at $356,000. 82.97% of the stock is owned by institutional investors.
In other news, SVP Robert B. Crain sold 7,000 shares of the business’s stock in a transaction dated Thursday, November 30th. The shares were sold at an average price of $70.72, for a total transaction of $495,040.00. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Insiders own 16.60% of the company’s stock.
AGCO Corporation (NYSE:AGCO) opened at $72.49 on Tuesday. The company has a market cap of $5,764.15, a price-to-earnings ratio of 26.25, a P/E/G ratio of 1.82 and a beta of 0.83. AGCO Corporation has a twelve month low of $57.06 and a twelve month high of $75.58. The company has a quick ratio of 0.70, a current ratio of 1.51 and a debt-to-equity ratio of 0.63.
AGCO (NYSE:AGCO) last announced its earnings results on Tuesday, October 31st. The industrial products company reported $0.79 EPS for the quarter, topping the consensus estimate of $0.72 by $0.07. AGCO had a net margin of 2.59% and a return on equity of 7.50%. The firm had revenue of $1.99 billion for the quarter, compared to the consensus estimate of $1.92 billion. During the same quarter last year, the firm posted $0.51 EPS. The business’s quarterly revenue was up 12.8% on a year-over-year basis. analysts expect that AGCO Corporation will post 3.02 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 15th. Stockholders of record on Wednesday, November 15th will be issued a dividend of $0.14 per share. The ex-dividend date is Tuesday, November 14th. This represents a $0.56 annualized dividend and a dividend yield of 0.77%. AGCO’s payout ratio is 22.05%.
Several equities research analysts recently issued reports on AGCO shares. Jefferies Group reaffirmed a “hold” rating and issued a $75.00 price objective on shares of AGCO in a research note on Thursday, August 31st. Deutsche Bank reaffirmed a “buy” rating and issued a $86.00 price objective (down previously from $90.00) on shares of AGCO in a research note on Monday, October 9th. J P Morgan Chase & Co downgraded shares of AGCO from a “neutral” rating to an “underweight” rating and set a $65.00 target price on the stock. in a report on Tuesday, October 10th. Piper Jaffray Companies reiterated a “hold” rating and issued a $66.00 target price on shares of AGCO in a report on Thursday, October 19th. Finally, Zacks Investment Research downgraded shares of AGCO from a “strong-buy” rating to a “hold” rating in a report on Wednesday, October 11th. Three investment analysts have rated the stock with a sell rating, twelve have given a hold rating and four have issued a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and an average target price of $70.47.
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AGCO 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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