Vanguard Group Inc. Has $366.56 Million Position in AGCO Co. (AGCO)

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Vanguard Group Inc. boosted its stake in shares of AGCO Co. (NYSE:AGCO) by 1.1% in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 6,029,986 shares of the industrial products company’s stock after purchasing an additional 65,104 shares during the quarter. Vanguard Group Inc. owned approximately 7.70% of AGCO worth $366,563,000 at the end of the most recent reporting period.

A number of other large investors also recently added to or reduced their stakes in AGCO. Elk Creek Partners LLC raised its stake in AGCO by 12.0% during the 3rd quarter. Elk Creek Partners LLC now owns 81,774 shares of the industrial products company’s stock valued at $4,971,000 after acquiring an additional 8,784 shares in the last quarter. American International Group Inc. raised its stake in AGCO by 1.7% during the 3rd quarter. American International Group Inc. now owns 135,101 shares of the industrial products company’s stock valued at $8,213,000 after acquiring an additional 2,220 shares in the last quarter. FIL Ltd raised its stake in AGCO by 7.5% during the 3rd quarter. FIL Ltd now owns 33,300 shares of the industrial products company’s stock valued at $2,025,000 after acquiring an additional 2,309 shares in the last quarter. Bank of New York Mellon Corp raised its stake in AGCO by 5.5% during the 2nd quarter. Bank of New York Mellon Corp now owns 869,295 shares of the industrial products company’s stock valued at $52,784,000 after acquiring an additional 45,302 shares in the last quarter. Finally, Carillon Tower Advisers Inc. raised its stake in AGCO by 10.3% during the 3rd quarter. Carillon Tower Advisers Inc. now owns 188,950 shares of the industrial products company’s stock valued at $11,486,000 after acquiring an additional 17,675 shares in the last quarter. Institutional investors and hedge funds own 85.71% of the company’s stock.

Several brokerages have weighed in on AGCO. Deutsche Bank reaffirmed a “buy” rating on shares of AGCO in a research note on Monday, September 24th. ValuEngine raised AGCO from a “sell” rating to a “hold” rating in a research note on Tuesday, October 2nd. Citigroup cut their target price on AGCO from $65.00 to $64.00 and set a “neutral” rating on the stock in a research note on Friday, November 2nd. Zacks Investment Research downgraded AGCO from a “hold” rating to a “sell” rating in a research note on Tuesday, October 16th. Finally, JPMorgan Chase & Co. raised AGCO from an “underweight” rating to a “neutral” rating and boosted their price objective for the stock from $55.00 to $57.00 in a research note on Wednesday, October 31st. Two equities research analysts have rated the stock with a sell rating, nine have issued a hold rating and four have assigned a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and a consensus target price of $65.64.

AGCO opened at $61.95 on Friday. AGCO Co. has a one year low of $49.50 and a one year high of $75.10. The company has a debt-to-equity ratio of 0.57, a quick ratio of 0.63 and a current ratio of 1.42. The firm has a market capitalization of $4.79 billion, a PE ratio of 16.63, a PEG ratio of 0.81 and a beta of 0.79.

AGCO (NYSE:AGCO) last announced its earnings results on Tuesday, October 30th. The industrial products company reported $0.91 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.83 by $0.08. The company had revenue of $2.21 billion for the quarter, compared to analyst estimates of $2.15 billion. AGCO had a return on equity of 9.70% and a net margin of 2.49%. AGCO’s revenue for the quarter was up 11.5% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.76 earnings per share. On average, research analysts forecast that AGCO Co. will post 3.8 EPS for the current year.

The business also recently announced a quarterly dividend, which was paid on Friday, December 14th. Stockholders of record on Thursday, November 15th were given a dividend of $0.15 per share. This represents a $0.60 dividend on an annualized basis and a dividend yield of 0.97%. The ex-dividend date of this dividend was Wednesday, November 14th. AGCO’s dividend payout ratio (DPR) is presently 19.87%.

In other news, VP Gary L. Collar sold 2,070 shares of the business’s stock in a transaction on Monday, November 12th. The stock was sold at an average price of $56.64, for a total transaction of $117,244.80. Following the sale, the vice president now directly owns 84,463 shares of the company’s stock, valued at $4,783,984.32. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 16.70% of the stock is owned by insiders.

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About AGCO

AGCO Corporation manufactures and distributes agricultural equipment and related replacement parts worldwide. The company offers high horsepower tractors for larger farms, primarily for row crop production; 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, and residential uses.

Further Reading: Return on Investment (ROI) Defined, Explained

Institutional Ownership by Quarter for AGCO (NYSE:AGCO)

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