AGCO Corporation (AGCO) Stake Lessened by State Treasurer State of Michigan

State Treasurer State of Michigan decreased its holdings in AGCO Corporation (NYSE:AGCO) by 9.8% in the 3rd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 24,800 shares of the industrial products company’s stock after selling 2,700 shares during the quarter. State Treasurer State of Michigan’s holdings in AGCO Corporation were worth $1,829,000 as of its most recent filing with the SEC.

Other large investors have also added to or reduced their stakes in the company. Legal & General Group Plc grew its stake in shares of AGCO Corporation by 2.5% in the second quarter. Legal & General Group Plc now owns 146,907 shares of the industrial products company’s stock worth $9,900,000 after purchasing an additional 3,540 shares in the last quarter. Engineers Gate Manager LP lifted its holdings in shares of AGCO Corporation by 465.4% in the second quarter. Engineers Gate Manager LP now owns 21,484 shares of the industrial products company’s stock valued at $1,448,000 after buying an additional 17,684 shares during the period. Clinton Group Inc. acquired a new stake in shares of AGCO Corporation in the second quarter valued at $875,000. TD Asset Management Inc. lifted its holdings in shares of AGCO Corporation by 69.2% in the second quarter. TD Asset Management Inc. now owns 251,701 shares of the industrial products company’s stock valued at $16,962,000 after buying an additional 102,965 shares during the period. Finally, Dai Ichi Life Insurance Company Ltd lifted its holdings in shares of AGCO Corporation by 8.6% in the second quarter. Dai Ichi Life Insurance Company Ltd now owns 34,046 shares of the industrial products company’s stock valued at $2,294,000 after buying an additional 2,700 shares during the period. 80.80% of the stock is owned by institutional investors.

TRADEMARK VIOLATION NOTICE: This story was first reported by Community Financial News and is the property of of Community Financial News. If you are accessing this story on another publication, it was illegally copied and reposted in violation of U.S. & international trademark and copyright laws. The original version of this story can be viewed at https://www.com-unik.info/2017/11/04/agco-corporation-agco-stake-lessened-by-state-treasurer-state-of-michigan.html.

AGCO has been the subject of several research analyst reports. Deutsche Bank AG restated a “buy” rating and issued a $90.00 price objective (up previously from $88.00) on shares of AGCO Corporation in a report on Thursday, September 21st. William Blair upgraded AGCO Corporation from a “market perform” rating to an “outperform” rating in a report on Tuesday, July 11th. Jefferies Group LLC restated a “hold” rating and issued a $75.00 price objective on shares of AGCO Corporation in a report on Thursday, August 31st. BidaskClub upgraded AGCO Corporation from a “buy” rating to a “strong-buy” rating in a report on Wednesday, July 19th. Finally, Piper Jaffray Companies restated a “hold” rating and issued a $66.00 price objective on shares of AGCO Corporation in a report on Sunday, September 17th. Three analysts have rated the stock with a sell rating, twelve have issued a hold rating and three have given a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and an average price target of $69.07.

In related news, SVP Lucinda B. Smith sold 1,000 shares of the company’s stock in a transaction on Tuesday, August 8th. The stock was sold at an average price of $73.00, for a total transaction of $73,000.00. Following the transaction, the senior vice president now directly owns 38,877 shares of the company’s stock, valued at $2,838,021. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP Hans Bernd Veltmaat sold 750 shares of the company’s stock in a transaction on Tuesday, August 29th. The shares were sold at an average price of $66.52, for a total value of $49,890.00. Following the transaction, the senior vice president now directly owns 68,552 shares in the company, valued at $4,560,079.04. The disclosure for this sale can be found here. 16.60% of the stock is currently owned by insiders.

Shares of AGCO Corporation (NYSE:AGCO) opened at $69.00 on Friday. AGCO Corporation has a fifty-two week low of $49.04 and a fifty-two week high of $75.58. The company has a market capitalization of $5.49 billion, a price-to-earnings ratio of 25.00, a PEG ratio of 1.72 and a beta of 0.82. The company has a current ratio of 1.51, a quick ratio of 0.72 and a debt-to-equity ratio of 0.63.

AGCO Corporation (NYSE:AGCO) last announced its earnings results on Tuesday, October 31st. The industrial products company reported $0.79 EPS for the quarter, beating the consensus estimate of $0.72 by $0.07. AGCO Corporation had a return on equity of 7.50% and a net margin of 2.59%. The business had revenue of $1.99 billion during the quarter, compared to the consensus estimate of $1.92 billion. During the same period in the prior year, the business posted $0.51 earnings per share. AGCO Corporation’s revenue was up 12.8% compared to the same quarter last year. sell-side analysts anticipate that AGCO Corporation will post 3.04 EPS for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Friday, December 15th. Investors of record on Wednesday, November 15th will be given a dividend of $0.14 per share. This represents a $0.56 annualized dividend and a yield of 0.81%. The ex-dividend date of this dividend is Tuesday, November 14th. AGCO Corporation’s payout ratio is 22.05%.

About AGCO Corporation

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.

Institutional Ownership by Quarter for AGCO Corporation (NYSE:AGCO)

What are top analysts saying about AGCO Corporation? - Enter your email address in the form below to receive our free daily email newsletter that contains the latest headlines and analysts' recommendations for for AGCO Corporation and related companies.

Comments

Leave a Reply


share news on Facebook
tweet this investment news
share on linkedin
share on StockTwits
share on Google Plus
share on reddit