Korea Investment CORP Sells 200 Shares of AGCO Corporation (AGCO)
Korea Investment CORP lowered its stake in AGCO Corporation (NYSE:AGCO) by 0.4% during the second quarter, Holdings Channel reports. The institutional investor owned 54,500 shares of the industrial products company’s stock after selling 200 shares during the period. Korea Investment CORP’s holdings in AGCO Corporation were worth $3,673,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors have also made changes to their positions in AGCO. Canada Pension Plan Investment Board boosted its position in shares of AGCO Corporation by 138.0% in the first quarter. Canada Pension Plan Investment Board now owns 472,203 shares of the industrial products company’s stock valued at $28,417,000 after buying an additional 273,800 shares in the last quarter. Wells Fargo & Company MN boosted its position in shares of AGCO Corporation by 1.6% in the first quarter. Wells Fargo & Company MN now owns 33,326 shares of the industrial products company’s stock valued at $2,006,000 after buying an additional 527 shares in the last quarter. Russell Investments Group Ltd. boosted its position in shares of AGCO Corporation by 15.7% in the first quarter. Russell Investments Group Ltd. now owns 248,647 shares of the industrial products company’s stock valued at $14,965,000 after buying an additional 33,779 shares in the last quarter. Janney Montgomery Scott LLC acquired a new position in shares of AGCO Corporation during the first quarter valued at approximately $378,000. Finally, Nationwide Fund Advisors boosted its position in shares of AGCO Corporation by 2.3% in the first quarter. Nationwide Fund Advisors now owns 131,444 shares of the industrial products company’s stock valued at $7,910,000 after buying an additional 3,011 shares in the last quarter. 84.62% of the stock is currently owned by institutional investors.
Shares of AGCO Corporation (AGCO) opened at 68.82 on Friday. The firm has a market cap of $5.47 billion, a price-to-earnings ratio of 30.09 and a beta of 0.86. AGCO Corporation has a 12 month low of $46.22 and a 12 month high of $73.97. The firm has a 50-day moving average of $70.13 and a 200-day moving average of $64.58.
AGCO Corporation (NYSE:AGCO) last issued its quarterly earnings results on Thursday, July 27th. The industrial products company reported $1.15 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.04 by $0.11. The company 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 quarterly revenue was up 8.5% compared to the same quarter last year. During the same period last year, the business earned $1.25 EPS. On average, analysts anticipate that AGCO Corporation will post $3.05 EPS for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, September 15th. Investors of record on Tuesday, August 15th will be paid a $0.14 dividend. The ex-dividend date is Friday, August 11th. This represents a $0.56 annualized dividend and a dividend yield of 0.81%. AGCO Corporation’s payout ratio is 24.56%.
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AGCO has been the topic of several analyst reports. BidaskClub lowered shares of AGCO Corporation from a “buy” rating to a “hold” rating in a research report on Wednesday. Piper Jaffray Companies set a $66.00 price target on shares of AGCO Corporation and gave the stock a “hold” rating in a research report on Wednesday. UBS AG reiterated a “neutral” rating and set a $73.00 price target (up previously from $68.00) on shares of AGCO Corporation in a research report on Monday, July 31st. BMO Capital Markets increased their price target on shares of AGCO Corporation from $70.00 to $75.00 and gave the stock a “market perform” rating in a research report on Tuesday, August 1st. Finally, TheStreet upgraded shares of AGCO Corporation from a “c+” rating to a “b+” rating in a research report on Thursday, July 27th. One equities research analyst has rated the stock with a sell rating, fourteen have assigned a hold rating and five have given a buy rating to the company. The stock currently has an average rating of “Hold” and an average target price of $64.80.
In other AGCO Corporation news, SVP Robert B. Crain sold 15,000 shares of the firm’s stock in a transaction dated Tuesday, August 1st. The shares were sold at an average price of $71.78, for a total transaction of $1,076,700.00. Following the completion of the sale, the senior vice president now directly owns 89,322 shares in the company, valued at approximately $6,411,533.16. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CFO Andrew H. Beck sold 10,000 shares of the firm’s stock in a transaction dated Friday, August 4th. The shares were sold at an average price of $72.18, for a total transaction of $721,800.00. Following the sale, the chief financial officer now owns 142,079 shares of the company’s stock, valued at $10,255,262.22. The disclosure for this sale can be found here. Over the last quarter, insiders sold 26,000 shares of company stock valued at $1,871,500. 16.60% of the stock is owned by company insiders.
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.
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