Wellington Management Group LLP Has $54.07 Million Stake in AGCO Corporation (AGCO)
Wellington Management Group LLP boosted its stake in AGCO Corporation (NYSE:AGCO) by 18.3% during the first quarter, according to its most recent 13F filing with the SEC. The fund owned 898,396 shares of the industrial products company’s stock after buying an additional 138,935 shares during the period. Wellington Management Group LLP’s holdings in AGCO Corporation were worth $54,066,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in AGCO. Tyers Asset Management LLC bought a new position in AGCO Corporation during the fourth quarter worth $113,000. Daiwa Securities Group Inc. boosted its position in AGCO Corporation by 22.2% in the first quarter. Daiwa Securities Group Inc. now owns 2,200 shares of the industrial products company’s stock worth $132,000 after buying an additional 400 shares during the last quarter. Fortaleza Asset Management Inc. bought a new position in AGCO Corporation during the fourth quarter worth $128,000. Elkfork Partners LLC bought a new position in AGCO Corporation during the fourth quarter worth $155,000. Finally, Ladenburg Thalmann Financial Services Inc. boosted its position in AGCO Corporation by 2.0% in the fourth quarter. Ladenburg Thalmann Financial Services Inc. now owns 3,203 shares of the industrial products company’s stock worth $187,000 after buying an additional 62 shares during the last quarter. Institutional investors and hedge funds own 84.31% of the company’s stock.
AGCO Corporation (AGCO) traded down 0.15% during mid-day trading on Friday, hitting $67.34. 982,886 shares of the stock traded hands. The stock has a market cap of $5.35 billion, a price-to-earnings ratio of 38.24 and a beta of 0.92. AGCO Corporation has a 1-year low of $44.68 and a 1-year high of $67.73. The company’s 50 day moving average price is $64.64 and its 200-day moving average price is $61.64.
AGCO Corporation (NYSE:AGCO) last posted its quarterly earnings data on Friday, April 28th. The industrial products company reported ($0.02) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.17) by $0.15. The company had revenue of $1.63 billion for the quarter, compared to the consensus estimate of $1.54 billion. AGCO Corporation had a net margin of 1.90% and a return on equity of 6.55%. The firm’s revenue was up 4.4% compared to the same quarter last year. During the same quarter last year, the firm posted $0.11 earnings per share. Analysts predict that AGCO Corporation will post $2.76 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which was paid on Thursday, June 15th. Investors of record on Monday, May 15th were issued a $0.14 dividend. This represents a $0.56 dividend on an annualized basis and a dividend yield of 0.83%. The ex-dividend date was Thursday, May 11th. AGCO Corporation’s payout ratio is 32.00%.
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A number of research analysts have weighed in on AGCO shares. Credit Suisse Group set a $60.00 target price on shares of AGCO Corporation and gave the company a “hold” rating in a research note on Wednesday, April 12th. Seaport Global Securities boosted their target price on shares of AGCO Corporation from $57.00 to $61.00 and gave the company a “neutral” rating in a research note on Monday, May 1st. Zacks Investment Research cut shares of AGCO Corporation from a “buy” rating to a “hold” rating in a research note on Monday, February 20th. Citigroup Inc. boosted their target price on shares of AGCO Corporation from $65.00 to $68.00 and gave the company a “neutral” rating in a research note on Monday, May 1st. Finally, Stifel Nicolaus started coverage on shares of AGCO Corporation in a research note on Monday, April 10th. They issued a “hold” rating and a $64.00 target price on the stock. One equities research analyst has rated the stock with a sell rating, eleven have issued a hold rating and five have given a buy rating to the company. The company has an average rating of “Hold” and a consensus price target of $63.43.
In other AGCO Corporation news, SVP Lucinda B. Smith sold 5,000 shares of AGCO Corporation stock in a transaction that occurred on Friday, May 5th. The shares were sold at an average price of $64.00, for a total transaction of $320,000.00. Following the transaction, the senior vice president now owns 40,977 shares of the company’s stock, valued at $2,622,528. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, VP Richard Robinson Smith sold 2,037 shares of AGCO Corporation stock in a transaction that occurred on Friday, May 12th. The shares were sold at an average price of $63.91, for a total transaction of $130,184.67. Following the transaction, the vice president now directly owns 41,717 shares in the company, valued at approximately $2,666,133.47. The disclosure for this sale can be found here. Company insiders own 16.60% of the company’s stock.
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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