Perpetual Ltd Takes Position in AGCO Corporation (AGCO)
Perpetual Ltd bought a new position in shares of AGCO Corporation (NYSE:AGCO) during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund bought 42,593 shares of the industrial products company’s stock, valued at approximately $2,870,000. Perpetual Ltd owned 0.05% of AGCO Corporation at the end of the most recent quarter.
A number of other hedge funds also recently made changes to their positions in the stock. BlueMountain Capital Management LLC bought a new stake in AGCO Corporation in the 2nd quarter valued at $165,000. Advisor Partners LLC bought a new stake in AGCO Corporation in the 2nd quarter valued at $212,000. PNC Financial Services Group Inc. increased its holdings in AGCO Corporation by 3.3% in the 1st 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 period. Numeric Investors LLC bought a new stake in AGCO Corporation in the 2nd quarter valued at $229,000. Finally, OLD Mutual Customised Solutions Proprietary Ltd. increased its holdings in AGCO Corporation by 59.1% in the 1st quarter. OLD Mutual Customised Solutions Proprietary Ltd. now owns 3,500 shares of the industrial products company’s stock valued at $211,000 after buying an additional 1,300 shares during the period. 80.72% of the stock is currently owned by institutional investors and hedge funds.
Shares of AGCO Corporation (NYSE AGCO) traded up 0.28% on Wednesday, reaching $71.78. 311,606 shares of the company traded hands. AGCO Corporation has a one year low of $48.93 and a one year high of $75.58. The firm’s 50 day moving average is $71.50 and its 200 day moving average is $67.45. The company has a market capitalization of $5.71 billion, a P/E ratio of 31.39 and a beta of 0.86.
AGCO Corporation (NYSE:AGCO) last released its quarterly earnings data on Thursday, July 27th. The industrial products company reported $1.15 earnings per share 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 return on equity of 6.84% and a net margin of 2.40%. AGCO Corporation’s revenue 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 expect that AGCO Corporation will post $3.05 earnings per share for the current fiscal year.
Several equities research analysts have issued reports on the stock. UBS AG raised shares of AGCO Corporation from a “sell” rating to a “neutral” rating and boosted their price target for the company from $52.00 to $68.00 in a report on Wednesday, June 21st. Piper Jaffray Companies set a $66.00 price target on shares of AGCO Corporation and gave the company a “hold” rating in a report on Wednesday, August 9th. BidaskClub raised shares of AGCO Corporation from a “hold” rating to a “buy” rating in a report on Thursday, September 28th. Zacks Investment Research downgraded shares of AGCO Corporation from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, October 11th. Finally, Deutsche Bank AG restated a “buy” rating and issued a $86.00 target price (down previously from $90.00) on shares of AGCO Corporation in a research note on Monday, October 9th. Three investment analysts have rated the stock with a sell rating, eleven have issued a hold rating and four have given a buy rating to the stock. AGCO Corporation currently has a consensus rating of “Hold” and an average target price of $68.36.
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In other news, SVP Robert B. Crain sold 15,000 shares of AGCO Corporation stock in a transaction dated 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 directly owns 89,322 shares of the company’s stock, valued at $6,411,533.16. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Andrew H. Beck sold 10,000 shares of AGCO Corporation stock in a transaction dated Friday, August 4th. The shares were sold at an average price of $72.18, for a total value of $721,800.00. Following the sale, the chief financial officer now directly owns 142,079 shares in the company, valued at $10,255,262.22. The disclosure for this sale can be found here. Insiders sold 26,750 shares of company stock worth $1,921,390 over the last ninety days. 16.60% of the stock is currently owned by insiders.
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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