South Dakota Investment Council cut its position in AGCO Corporation (NYSE:AGCO) by 5.3% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 25,100 shares of the industrial products company’s stock after selling 1,400 shares during the period. South Dakota Investment Council’s holdings in AGCO Corporation were worth $1,691,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Daiwa Securities Group Inc. increased its stake in shares of AGCO Corporation by 22.2% in the first quarter. Daiwa Securities Group Inc. now owns 2,200 shares of the industrial products company’s stock worth $132,000 after purchasing an additional 400 shares in the last quarter. Advisor Partners LLC purchased a new stake in shares of AGCO Corporation in the second quarter worth $212,000. PNC Financial Services Group Inc. increased its stake in shares of 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 worth $203,000 after purchasing an additional 106 shares in the last quarter. OLD Mutual Customised Solutions Proprietary Ltd. increased its stake in shares of AGCO Corporation by 59.1% in the first quarter. OLD Mutual Customised Solutions Proprietary Ltd. now owns 3,500 shares of the industrial products company’s stock worth $211,000 after purchasing an additional 1,300 shares in the last quarter. Finally, Zweig DiMenna Associates LLC purchased a new stake in shares of AGCO Corporation in the second quarter worth $270,000. 80.68% of the stock is owned by hedge funds and other institutional investors.

Shares of AGCO Corporation (AGCO) opened at 69.29 on Wednesday. The stock has a 50 day moving average of $69.44 and a 200 day moving average of $65.22. AGCO Corporation has a 12-month low of $46.22 and a 12-month high of $73.97. The company has a market cap of $5.51 billion, a price-to-earnings ratio of 30.30 and a beta of 0.88.

AGCO Corporation (NYSE:AGCO) last announced its quarterly earnings data on Thursday, July 27th. The industrial products company reported $1.15 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.04 by $0.11. AGCO Corporation had a net margin of 2.40% and a return on equity of 6.84%. The firm had revenue of $2.17 billion during the quarter, compared to analyst estimates of $2.08 billion. During the same quarter in the prior year, the firm posted $1.25 earnings per share. AGCO Corporation’s quarterly revenue was up 8.5% on a year-over-year basis. Equities research analysts predict that AGCO Corporation will post $3.06 earnings per share for the current fiscal year.

The company also recently disclosed 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 0.81%. The ex-dividend date is Friday, August 11th. AGCO Corporation’s dividend payout ratio is currently 24.56%.

AGCO has been the subject of a number of analyst reports. BMO Capital Markets increased their price objective on shares of AGCO Corporation from $55.00 to $70.00 and gave the stock a “market perform” rating in a research note on Tuesday, May 30th. Jefferies Group LLC reissued a “hold” rating and issued a $61.00 price objective on shares of AGCO Corporation in a research note on Wednesday, May 31st. Royal Bank Of Canada reissued a “hold” rating and issued a $64.00 price objective on shares of AGCO Corporation in a research note on Tuesday, June 6th. BidaskClub raised shares of AGCO Corporation from a “hold” rating to a “buy” rating in a research note on Tuesday, June 13th. Finally, Bank of America Corporation raised shares of AGCO Corporation from an “underperform” rating to a “neutral” rating in a research note on Monday, June 19th. Two equities research analysts have rated the stock with a sell rating, thirteen have given a hold rating and five have issued a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and a consensus price target of $65.73.

In other AGCO Corporation news, SVP Hans Bernd Veltmaat sold 750 shares of the company’s stock in a transaction dated Tuesday, August 29th. The shares were sold at an average price of $66.52, for a total value of $49,890.00. Following the transaction, the senior vice president now owns 68,552 shares of the company’s stock, valued at $4,560,079.04. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, SVP Robert B. Crain sold 15,000 shares of the company’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 transaction, the senior vice president now directly owns 89,322 shares in the company, valued at approximately $6,411,533.16. The disclosure for this sale can be found here. Insiders sold 26,750 shares of company stock valued at $1,921,390 in the last three months. 16.60% of the stock is currently owned by insiders.

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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.

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

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