Westpac Banking Corp decreased its position in shares of Agco Corp. (NYSE:AGCO) by 39.2% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 76,431 shares of the company’s stock after selling 49,343 shares during the period. Westpac Banking Corp owned 0.09% of Agco Corp. worth $3,602,000 as of its most recent filing with the SEC.
A number of other hedge funds and other institutional investors also recently bought and sold shares of AGCO. BARING ASSET MANAGEMENT Ltd raised its stake in Agco Corp. by 70.1% in the second quarter. BARING ASSET MANAGEMENT Ltd now owns 218,651 shares of the company’s stock worth $10,305,000 after buying an additional 90,107 shares during the last quarter. Tobam acquired a new stake in Agco Corp. during the first quarter worth approximately $3,085,000. Natixis acquired a new stake in Agco Corp. during the first quarter worth approximately $3,976,000. Impax Asset Management LTD raised its stake in Agco Corp. by 58.6% in the second quarter. Impax Asset Management LTD now owns 68,980 shares of the company’s stock worth $3,251,000 after buying an additional 25,500 shares during the last quarter. Finally, Norges Bank acquired a new stake in Agco Corp. during the fourth quarter worth approximately $37,168,000. 88.67% of the stock is owned by institutional investors.
Shares of Agco Corp. (NYSE:AGCO) traded down 0.71% during trading on Monday, hitting $47.48. The stock had a trading volume of 30,553 shares. The firm has a market cap of $3.85 billion, a P/E ratio of 21.34 and a beta of 1.44. Agco Corp. has a 12-month low of $41.91 and a 12-month high of $56.00. The firm has a 50 day moving average price of $47.92 and a 200 day moving average price of $49.96.
Agco Corp. (NYSE:AGCO) last released its earnings results on Thursday, August 4th. The company reported $1.02 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.92 by $0.10. Agco Corp. had a return on equity of 7.72% and a net margin of 2.58%. The firm had revenue of $2 billion for the quarter, compared to the consensus estimate of $1.88 billion. During the same period in the prior year, the firm earned $1.25 EPS. The firm’s revenue was down 3.6% on a year-over-year basis. On average, equities analysts expect that Agco Corp. will post $2.31 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which was paid on Thursday, September 15th. Investors of record on Monday, August 15th were given a $0.13 dividend. This represents a $0.52 annualized dividend and a dividend yield of 1.09%. The ex-dividend date of this dividend was Thursday, August 11th. Agco Corp.’s payout ratio is 23.64%.
A number of analysts have commented on AGCO shares. Zacks Investment Research raised Agco Corp. from a “hold” rating to a “buy” rating and set a $59.00 target price for the company in a report on Tuesday, June 21st. JPMorgan Chase & Co. lowered Agco Corp. from a “neutral” rating to an “underweight” rating and reduced their target price for the stock from $47.00 to $44.00 in a report on Monday, June 27th. Barclays PLC reissued an “equal weight” rating and issued a $43.00 target price on shares of Agco Corp. in a report on Tuesday, July 12th. Citigroup Inc. reduced their target price on Agco Corp. from $55.00 to $53.00 and set a “neutral” rating for the company in a report on Friday, July 15th. Finally, Piper Jaffray Cos. downgraded Agco Corp. from a “neutral” rating to an “underweight” rating and set a $37.00 price target on the stock. in a research note on Monday, July 25th. Four 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. Agco Corp. has an average rating of “Hold” and a consensus price target 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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