State Treasurer State of Michigan lessened its stake in shares of AGCO Co. (NYSE:AGCO) by 4.4% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 23,700 shares of the industrial products company’s stock after selling 1,100 shares during the period. State Treasurer State of Michigan’s holdings in AGCO were worth $1,693,000 at the end of the most recent reporting period.
A number of other hedge funds also recently bought and sold shares of AGCO. Teacher Retirement System of Texas boosted its stake in AGCO by 262.8% during the 3rd quarter. Teacher Retirement System of Texas now owns 364,230 shares of the industrial products company’s stock valued at $26,869,000 after purchasing an additional 263,831 shares during the last quarter. Old Mutual Global Investors UK Ltd. purchased a new stake in AGCO during the 3rd quarter valued at $17,343,000. JPMorgan Chase & Co. boosted its stake in AGCO by 44.3% during the 3rd quarter. JPMorgan Chase & Co. now owns 750,005 shares of the industrial products company’s stock valued at $55,109,000 after purchasing an additional 230,409 shares during the last quarter. Lodge Hill Capital LLC purchased a new stake in AGCO during the 3rd quarter valued at $16,967,000. Finally, TD Asset Management Inc. boosted its stake in AGCO by 85.0% during the 3rd quarter. TD Asset Management Inc. now owns 465,738 shares of the industrial products company’s stock valued at $34,357,000 after purchasing an additional 214,037 shares during the last quarter. 82.29% of the stock is owned by institutional investors.
Several analysts have commented on the company. Royal Bank of Canada reiterated a “hold” rating and set a $79.00 target price on shares of AGCO in a research note on Thursday, January 11th. Seaport Global Securities restated a “hold” rating on shares of AGCO in a research note on Thursday, January 18th. Stifel Nicolaus restated a “hold” rating and issued a $73.00 price target on shares of AGCO in a research note on Thursday, December 21st. UBS Group restated a “neutral” rating on shares of AGCO in a research note on Friday, October 20th. Finally, Piper Jaffray Companies restated a “hold” rating and issued a $66.00 price target on shares of AGCO in a research note on Thursday, October 19th. One equities research analyst has rated the stock with a sell rating, thirteen have issued a hold rating and three have given a buy rating to the company. The company has a consensus rating of “Hold” and an average target price of $73.07.
AGCO (NYSE:AGCO) last released its earnings results on Tuesday, February 6th. The industrial products company reported $1.10 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $1.11 by ($0.01). The company had revenue of $2.53 billion for the quarter, compared to analysts’ expectations of $2.40 billion. AGCO had a net margin of 2.24% and a return on equity of 8.04%. AGCO’s revenue for the quarter was up 20.7% on a year-over-year basis. During the same quarter last year, the firm posted $0.84 earnings per share. equities analysts anticipate that AGCO Co. will post 3.71 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Thursday, March 15th. Investors of record on Thursday, February 15th will be given a dividend of $0.15 per share. The ex-dividend date of this dividend is Wednesday, February 14th. This is an increase from AGCO’s previous quarterly dividend of $0.14. This represents a $0.60 annualized dividend and a yield of 0.87%. AGCO’s payout ratio is 24.14%.
In related news, SVP Robert B. Crain sold 7,000 shares of AGCO 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 filing with the SEC, which is available through the SEC website. 16.60% of the stock is currently owned by insiders.
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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