Pictet Asset Management Ltd. increased its stake in shares of AGCO Corporation (NYSE:AGCO) by 4.9% during the second quarter, Holdings Channel reports. The firm owned 500,888 shares of the industrial products company’s stock after buying an additional 23,485 shares during the period. Pictet Asset Management Ltd.’s holdings in AGCO Corporation were worth $32,072,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of the stock. World Asset Management Inc raised its position in AGCO Corporation by 0.7% in the first quarter. World Asset Management Inc now owns 5,189 shares of the industrial products company’s stock valued at $312,000 after buying an additional 36 shares during the period. Capstone Asset Management Co. raised its position in AGCO Corporation by 0.6% in the first quarter. Capstone Asset Management Co. now owns 8,140 shares of the industrial products company’s stock valued at $490,000 after buying an additional 50 shares during the period. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. raised its position in AGCO Corporation by 0.6% in the first quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 9,584 shares of the industrial products company’s stock valued at $577,000 after buying an additional 61 shares during the period. Utah Retirement Systems raised its position in AGCO Corporation by 0.8% in the first quarter. Utah Retirement Systems now owns 12,764 shares of the industrial products company’s stock valued at $769,000 after buying an additional 100 shares during the period. Finally, PNC Financial Services Group Inc. raised its position in AGCO Corporation by 3.3% in the first quarter. PNC Financial Services Group Inc. now owns 3,367 shares of the industrial products company’s stock valued at $203,000 after buying an additional 106 shares during the period. 84.62% of the stock is owned by institutional investors.

Shares of AGCO Corporation (NYSE AGCO) opened at 72.46 on Thursday. AGCO Corporation has a 52-week low of $46.22 and a 52-week high of $73.97. The firm has a market capitalization of $5.76 billion, a P/E ratio of 31.68 and a beta of 0.86. The firm has a 50-day moving average price of $69.99 and a 200-day moving average price of $64.50.

AGCO Corporation (NYSE:AGCO) last issued its quarterly earnings results on Thursday, July 27th. The industrial products company reported $1.15 earnings per share for the quarter, beating analysts’ consensus estimates of $1.04 by $0.11. The business had revenue of $2.17 billion during the quarter, compared to analyst estimates of $2.08 billion. AGCO Corporation had a net margin of 2.40% and a return on equity of 6.84%. AGCO Corporation’s revenue for the quarter was up 8.5% compared to the same quarter last year. During the same quarter last year, the business posted $1.25 earnings per share. On average, equities research analysts anticipate that AGCO Corporation will post $3.05 EPS for the current year.

The business also recently declared a quarterly dividend, which will be paid on Friday, September 15th. Investors of record on Tuesday, August 15th will be issued a $0.14 dividend. This represents a $0.56 dividend on an annualized basis and a dividend yield of 0.77%. The ex-dividend date of this dividend is Friday, August 11th. AGCO Corporation’s dividend payout ratio is currently 24.56%.

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Several research firms have recently commented on AGCO. UBS AG raised AGCO Corporation from a “sell” rating to a “neutral” rating and upped their target price for the company from $52.00 to $68.00 in a report on Wednesday, June 21st. J P Morgan Chase & Co raised AGCO Corporation from an “underweight” rating to a “neutral” rating and upped their target price for the company from $47.00 to $60.00 in a report on Monday, May 1st. Credit Suisse Group set a $60.00 price objective on AGCO Corporation and gave the stock a “hold” rating in a research report on Sunday, April 30th. BidaskClub downgraded AGCO Corporation from a “buy” rating to a “hold” rating in a research report on Wednesday. Finally, Seaport Global Securities boosted their price objective on AGCO Corporation from $57.00 to $61.00 and gave the stock a “neutral” rating in a research report on Monday, May 1st. One analyst has rated the stock with a sell rating, fourteen have issued a hold rating and five have assigned a buy rating to the company. AGCO Corporation presently has a consensus rating of “Hold” and an average target price of $64.40.

In related news, SVP Robert B. Crain sold 15,000 shares of the firm’s stock in a transaction that occurred on Tuesday, August 1st. The shares were sold at an average price of $71.78, for a total value of $1,076,700.00. Following the completion of the sale, the senior vice president now owns 89,322 shares of the company’s stock, valued at $6,411,533.16. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CFO Andrew H. Beck sold 10,000 shares of the firm’s stock in a transaction that occurred on Friday, August 4th. The shares were sold at an average price of $72.18, for a total transaction of $721,800.00. Following the completion of the sale, the chief financial officer now directly owns 142,079 shares of the company’s stock, valued at approximately $10,255,262.22. The disclosure for this sale can be found here. In the last three months, insiders sold 28,037 shares of company stock valued at $2,001,685. 16.60% of the stock is currently owned by company insiders.

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

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