NGAM Advisors L.P. reduced its stake in shares of AGCO Corporation (NYSE:AGCO) by 9.9% during the second quarter, according to its most recent filing with the SEC. The firm owned 19,206 shares of the industrial products company’s stock after selling 2,113 shares during the period. NGAM Advisors L.P.’s holdings in AGCO Corporation were worth $1,294,000 at the end of the most recent quarter.

Other institutional investors have also made changes to their positions in the company. World Asset Management Inc boosted its position in shares of AGCO Corporation by 0.7% in the first quarter. World Asset Management Inc now owns 5,189 shares of the industrial products company’s stock valued at $312,000 after buying an additional 36 shares during the last quarter. Capstone Asset Management Co. boosted its position in shares of AGCO Corporation by 0.6% in the first quarter. Capstone Asset Management Co. now owns 8,140 shares of the industrial products company’s stock valued at $490,000 after buying an additional 50 shares during the last quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. boosted its position in shares of AGCO Corporation by 0.6% in the first quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 9,584 shares of the industrial products company’s stock valued at $577,000 after buying an additional 61 shares during the last quarter. Utah Retirement Systems boosted its position in shares of AGCO Corporation by 0.8% in the first quarter. Utah Retirement Systems now owns 12,764 shares of the industrial products company’s stock valued at $769,000 after buying an additional 100 shares during the last quarter. Finally, PNC Financial Services Group Inc. boosted its position in shares of AGCO Corporation by 3.3% in the first quarter. PNC Financial Services Group Inc. now owns 3,367 shares of the industrial products company’s stock valued at $203,000 after buying an additional 106 shares during the last quarter. 85.65% of the stock is currently owned by institutional investors and hedge funds.

Shares of AGCO Corporation (NYSE:AGCO) opened at 69.69 on Wednesday. The stock has a market cap of $5.54 billion, a price-to-earnings ratio of 30.47 and a beta of 0.86. AGCO Corporation has a 52 week low of $46.22 and a 52 week high of $73.97. The stock’s 50 day moving average is $70.30 and its 200 day moving average is $64.69.

AGCO Corporation (NYSE:AGCO) last issued its quarterly earnings data on Thursday, July 27th. The industrial products company reported $1.15 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.04 by $0.11. The company had revenue of $2.17 billion for the quarter, compared to the consensus estimate 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 quarter in the prior year, the firm earned $1.25 earnings per share. On average, equities analysts forecast that AGCO Corporation will post $3.05 EPS for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 15th. Investors of record on Tuesday, August 15th will be given a dividend of $0.14 per share. The ex-dividend date is Friday, August 11th. This represents a $0.56 dividend on an annualized basis and a yield of 0.80%. AGCO Corporation’s dividend payout ratio (DPR) is 24.56%.

TRADEMARK VIOLATION NOTICE: “NGAM Advisors L.P. Sells 2,113 Shares of AGCO Corporation (AGCO)” was first published by Watch List News and is the sole property of of Watch List News. If you are reading this piece of content on another domain, it was illegally copied and reposted in violation of U.S. and international copyright & trademark legislation. The correct version of this piece of content can be viewed at https://www.watchlistnews.com/ngam-advisors-l-p-sells-2113-shares-of-agco-corporation-agco/1493062.html.

Several brokerages recently weighed in on AGCO. UBS AG raised shares of AGCO Corporation from a “sell” rating to a “neutral” rating and raised their price target for the company from $52.00 to $68.00 in a research report on Wednesday, June 21st. Credit Suisse Group set a $60.00 target price on shares of AGCO Corporation and gave the stock a “hold” rating in a research report on Sunday, April 30th. J P Morgan Chase & Co raised shares of AGCO Corporation from an “underweight” rating to a “neutral” rating and lifted their target price for the stock from $47.00 to $60.00 in a research report on Monday, May 1st. Seaport Global Securities lifted their target price on shares of AGCO Corporation from $57.00 to $61.00 and gave the stock a “neutral” rating in a research report on Monday, May 1st. Finally, Royal Bank Of Canada reissued a “hold” rating and set a $64.00 target price on shares of AGCO Corporation in a research report on Tuesday, June 6th. One equities research analyst has rated the stock with a sell rating, fourteen have issued a hold rating and five have issued a buy rating to the stock. The company presently has a consensus rating of “Hold” and a consensus price target of $64.80.

In related news, CFO Andrew H. Beck sold 10,000 shares of the stock in a transaction that occurred on Friday, August 4th. The shares were sold at an average price of $72.18, for a total transaction of $721,800.00. Following the transaction, the chief financial officer now owns 142,079 shares in the company, valued at $10,255,262.22. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, SVP Lucinda B. Smith sold 1,000 shares of the 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 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 have sold 26,000 shares of company stock worth $1,871,500. 16.60% of the stock is owned by insiders.

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.

Want to see what other hedge funds are holding AGCO? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for AGCO Corporation (NYSE:AGCO).

Institutional Ownership by Quarter for AGCO Corporation (NYSE:AGCO)

Receive News & Ratings for AGCO Corporation Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for AGCO Corporation and related companies with Analyst Ratings Network's FREE daily email newsletter.