Prudential Financial Inc. decreased its stake in Agco Corp. (NYSE:AGCO) by 6.4% during the second quarter, according to its most recent filing with the SEC. The firm owned 395,172 shares of the company’s stock after selling 26,878 shares during the period. Prudential Financial Inc. owned 0.48% of Agco Corp. worth $18,624,000 at the end of the most recent reporting period.
Several other institutional investors also recently modified their holdings of AGCO. Norges Bank bought a new position in shares of Agco Corp. during the fourth quarter valued at approximately $37,168,000. Canada Pension Plan Investment Board bought a new position in shares of Agco Corp. during the first quarter valued at approximately $13,538,000. AGF Investments Inc. boosted its position in shares of Agco Corp. by 18.7% in the second quarter. AGF Investments Inc. now owns 1,411,182 shares of the company’s stock valued at $66,495,000 after buying an additional 221,904 shares during the last quarter. Glenmede Trust Co. NA boosted its position in shares of Agco Corp. by 194.8% in the second quarter. Glenmede Trust Co. NA now owns 310,756 shares of the company’s stock valued at $14,645,000 after buying an additional 205,349 shares during the last quarter. Finally, Schroder Investment Management Group boosted its position in shares of Agco Corp. by 39.1% in the second quarter. Schroder Investment Management Group now owns 658,300 shares of the company’s stock valued at $31,026,000 after buying an additional 185,000 shares during the last quarter. 88.67% of the stock is currently owned by institutional investors and hedge funds.
Agco Corp. (NYSE:AGCO) traded up 0.64% on Wednesday, hitting $47.10. 124,791 shares of the company were exchanged. Agco Corp. has a one year low of $41.91 and a one year high of $56.00. The firm has a market cap of $3.82 billion, a price-to-earnings ratio of 21.17 and a beta of 1.44. The stock has a 50 day moving average price of $47.83 and a 200 day moving average price of $49.87.
Agco Corp. (NYSE:AGCO) last announced its earnings results on Thursday, August 4th. The company reported $1.02 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.92 by $0.10. Agco Corp. had a net margin of 2.58% and a return on equity of 7.72%. The company had revenue of $2 billion for the quarter, compared to analyst estimates of $1.88 billion. During the same period in the prior year, the business earned $1.25 earnings per share. Agco Corp.’s quarterly revenue was down 3.6% on a year-over-year basis. On average, equities research analysts forecast that Agco Corp. will post $2.31 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which was paid on Thursday, September 15th. Investors of record on Monday, August 15th were paid a dividend of $0.13 per share. This represents a $0.52 dividend on an annualized basis and a dividend yield of 1.11%. The ex-dividend date of this dividend was Thursday, August 11th. Agco Corp.’s dividend payout ratio (DPR) is 23.64%.
Several equities analysts have recently commented on AGCO shares. Credit Suisse Group AG reaffirmed a “hold” rating and set a $53.00 price target on shares of Agco Corp. in a research report on Tuesday, August 30th. Citigroup Inc. cut their target price on shares of Agco Corp. from $55.00 to $53.00 and set a “neutral” rating on the stock in a report on Friday, July 15th. Jefferies Group reissued a “buy” rating on shares of Agco Corp. in a report on Friday, August 5th. Piper Jaffray Cos. cut their target price on shares of Agco Corp. from $47.00 to $44.00 and set a “neutral” rating on the stock in a report on Thursday, August 25th. Finally, Deutsche Bank AG initiated coverage on shares of Agco Corp. in a report on Tuesday, September 6th. They issued a “hold” rating and a $54.00 target price on the stock. Four investment analysts have rated the stock with a sell rating, ten have given a hold rating and one has assigned a buy rating to the company’s stock. The company presently has an average rating of “Hold” and a consensus target price of $47.92.
Agco Corp. Company Profile
AGCO Corporation is a manufacturer and distributor of agricultural equipment and related replacement parts around the world. The Company sells a range of agricultural equipment, including tractors, combines, self-propelled sprayers, hay tools, forage equipment, seeding and tillage, implements, and grain storage and protein production systems.
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