Commonwealth Bank of Australia boosted its holdings in shares of AGCO Corporation (NYSE:AGCO) by 23.5% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 20,195 shares of the industrial products company’s stock after purchasing an additional 3,840 shares during the quarter. Commonwealth Bank of Australia’s holdings in AGCO were worth $1,484,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds have also modified their holdings of AGCO. BlueMountain Capital Management LLC bought a new stake in AGCO during the 2nd quarter valued at approximately $165,000. Toronto Dominion Bank increased its stake in AGCO by 240.4% in the 3rd quarter. Toronto Dominion Bank now owns 2,686 shares of the industrial products company’s stock worth $198,000 after acquiring an additional 1,897 shares during the last quarter. CIBC Asset Management Inc bought a new stake in AGCO in the 3rd quarter worth approximately $204,000. Advisor Partners LLC bought a new stake in AGCO in the 2nd quarter worth approximately $212,000. Finally, Stephens Inc. AR bought a new stake in AGCO in the 3rd quarter worth approximately $218,000. 82.63% of the stock is currently owned by institutional investors.
In related news, SVP Robert B. Crain sold 7,000 shares of the business’s stock in a transaction on Thursday, November 30th. The stock was sold at an average price of $70.72, for a total transaction of $495,040.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 16.60% of the stock is currently owned by insiders.
AGCO (NYSE:AGCO) last announced its earnings results on Tuesday, October 31st. The industrial products company reported $0.79 EPS for the quarter, topping the Zacks’ consensus estimate of $0.72 by $0.07. The firm had revenue of $1.99 billion during the quarter, compared to analysts’ expectations of $1.92 billion. AGCO had a return on equity of 7.50% and a net margin of 2.59%. The company’s quarterly revenue was up 12.8% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.51 EPS. research analysts forecast that AGCO Corporation will post 3.02 earnings per share for the current year.
The business also recently announced a quarterly dividend, which will be paid on Friday, December 15th. Stockholders of record on Wednesday, November 15th will be issued a $0.14 dividend. This represents a $0.56 dividend on an annualized basis and a dividend yield of 0.78%. The ex-dividend date is Tuesday, November 14th. AGCO’s dividend payout ratio (DPR) is 22.05%.
A number of research firms have issued reports on AGCO. Jefferies Group reaffirmed a “hold” rating and issued a $75.00 price objective on shares of AGCO in a research note on Thursday, August 31st. BidaskClub raised AGCO from a “hold” rating to a “buy” rating in a research note on Thursday, September 28th. Piper Jaffray Companies reaffirmed a “hold” rating and issued a $66.00 price objective on shares of AGCO in a research note on Thursday, October 19th. Goldman Sachs Group raised AGCO from a “neutral” rating to a “buy” rating and set a $90.00 price objective on the stock in a research note on Thursday, November 30th. Finally, J P Morgan Chase & Co downgraded AGCO from a “neutral” rating to an “underweight” rating and set a $65.00 price objective on the stock. in a research note on Tuesday, October 10th. Three investment analysts have rated the stock with a sell rating, twelve have given a hold rating and four have assigned a buy rating to the company’s stock. AGCO presently has an average rating of “Hold” and an average price target of $70.47.
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AGCO 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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