Vanguard Group Inc. decreased its stake in AGCO Corporation (NYSE:AGCO - Free Report) by 7.9% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 6,658,772 shares of the industrial products company's stock after selling 571,753 shares during the quarter. Vanguard Group Inc. owned approximately 8.93% of AGCO worth $616,403,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds have also recently bought and sold shares of AGCO. Envestnet Asset Management Inc. boosted its position in AGCO by 3.1% during the fourth quarter. Envestnet Asset Management Inc. now owns 91,658 shares of the industrial products company's stock worth $8,568,000 after acquiring an additional 2,765 shares during the last quarter. Raymond James Financial Inc. purchased a new stake in AGCO during the 4th quarter worth approximately $16,845,000. Treasurer of the State of North Carolina increased its stake in AGCO by 0.6% during the 4th quarter. Treasurer of the State of North Carolina now owns 27,364 shares of the industrial products company's stock worth $2,558,000 after buying an additional 170 shares during the period. Sterling Capital Management LLC increased its stake in AGCO by 56.7% during the 4th quarter. Sterling Capital Management LLC now owns 3,719 shares of the industrial products company's stock worth $348,000 after buying an additional 1,346 shares during the period. Finally, Barclays PLC increased its position in shares of AGCO by 30.7% in the 4th quarter. Barclays PLC now owns 325,680 shares of the industrial products company's stock valued at $30,443,000 after purchasing an additional 76,471 shares during the last quarter. 78.80% of the stock is currently owned by institutional investors and hedge funds.
Wall Street Analysts Forecast Growth
A number of equities research analysts have commented on AGCO shares. Oppenheimer increased their price objective on shares of AGCO from $108.00 to $115.00 and gave the company an "outperform" rating in a research report on Tuesday, July 15th. UBS Group restated a "neutral" rating and set a $119.00 price objective (up previously from $100.00) on shares of AGCO in a research report on Friday, August 8th. Wall Street Zen upgraded shares of AGCO from a "hold" rating to a "buy" rating in a research report on Saturday, August 2nd. Citigroup reiterated a "neutral" rating and issued a $110.00 price target on shares of AGCO in a report on Friday, May 30th. Finally, The Goldman Sachs Group raised their target price on shares of AGCO from $91.00 to $107.00 and gave the company a "neutral" rating in a report on Tuesday, May 27th. One analyst has rated the stock with a sell rating, five have given a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat.com, AGCO has a consensus rating of "Hold" and an average target price of $109.63.
View Our Latest Stock Report on AGCO
Insider Buying and Selling at AGCO
In other AGCO news, SVP Luis Fernando Sartini Felli sold 10,000 shares of the stock in a transaction on Monday, August 11th. The shares were sold at an average price of $109.40, for a total transaction of $1,094,000.00. Following the transaction, the senior vice president directly owned 16,189 shares in the company, valued at $1,771,076.60. This represents a 38.18% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Company insiders own 16.60% of the company's stock.
AGCO Trading Up 0.7%
AGCO stock traded up $0.82 during trading on Friday, reaching $112.20. The company had a trading volume of 729,047 shares, compared to its average volume of 952,650. AGCO Corporation has a 12-month low of $73.79 and a 12-month high of $121.16. The stock's 50 day moving average price is $107.82 and its two-hundred day moving average price is $99.33. The firm has a market capitalization of $8.37 billion, a price-to-earnings ratio of 83.73, a PEG ratio of 1.74 and a beta of 1.21. The company has a debt-to-equity ratio of 0.66, a quick ratio of 0.67 and a current ratio of 1.48.
AGCO (NYSE:AGCO - Get Free Report) last released its quarterly earnings data on Thursday, July 31st. The industrial products company reported $1.35 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.06 by $0.29. AGCO had a net margin of 0.98% and a return on equity of 8.27%. The company had revenue of $2.64 billion during the quarter, compared to analyst estimates of $2.52 billion. During the same quarter in the prior year, the business earned $2.53 earnings per share. The business's quarterly revenue was down 18.8% compared to the same quarter last year. As a group, equities analysts expect that AGCO Corporation will post 4.2 earnings per share for the current fiscal year.
AGCO Announces Dividend
The company also recently announced a quarterly dividend, which will be paid on Monday, September 15th. Stockholders of record on Friday, August 15th will be paid a $0.29 dividend. The ex-dividend date is Friday, August 15th. This represents a $1.16 annualized dividend and a dividend yield of 1.0%. AGCO's dividend payout ratio is 86.57%.
AGCO announced that its board has authorized a stock repurchase program on Wednesday, July 9th that allows the company to buyback $1.00 billion in outstanding shares. This buyback authorization allows the industrial products company to buy up to 12.2% of its stock through open market purchases. Stock buyback programs are typically an indication that the company's leadership believes its shares are undervalued.
AGCO Company Profile
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Free Report)
AGCO Corporation manufactures and distributes agricultural equipment and related replacement parts worldwide. It offers horsepower tractors for row crop production, soil cultivation, planting, land leveling, seeding, and commercial hay operations; utility tractors for small- and medium-sized farms, as well as for dairy, livestock, orchards, and vineyards; and compact tractors for small farms, specialty agricultural industries, landscaping, equestrian, and residential uses.
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