Tredje AP fonden Sells 3,619 Shares of AGCO Corporation (AGCO)
Tredje AP fonden lowered its position in shares of AGCO Corporation (NYSE:AGCO) by 18.2% in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 16,319 shares of the industrial products company’s stock after selling 3,619 shares during the quarter. Tredje AP fonden’s holdings in AGCO Corporation were worth $1,100,000 at the end of the most recent reporting period.
Other hedge funds have also recently added to or reduced their stakes in the company. TD Asset Management Inc. grew its stake in AGCO Corporation by 69.2% in the second quarter. TD Asset Management Inc. now owns 251,701 shares of the industrial products company’s stock valued at $16,962,000 after acquiring an additional 102,965 shares during the period. Schwab Charles Investment Management Inc. boosted its position in shares of AGCO Corporation by 6.5% during the first quarter. Schwab Charles Investment Management Inc. now owns 243,848 shares of the industrial products company’s stock worth $14,675,000 after buying an additional 14,879 shares during the period. Legal & General Group Plc boosted its position in shares of AGCO Corporation by 2.5% during the second quarter. Legal & General Group Plc now owns 146,907 shares of the industrial products company’s stock worth $9,900,000 after buying an additional 3,540 shares during the period. AGF Investments America Inc. boosted its position in shares of AGCO Corporation by 3.6% during the second quarter. AGF Investments America Inc. now owns 48,515 shares of the industrial products company’s stock worth $3,269,000 after buying an additional 1,697 shares during the period. Finally, Wells Fargo & Company MN boosted its position in shares of AGCO Corporation by 1.6% during the first quarter. Wells Fargo & Company MN now owns 33,326 shares of the industrial products company’s stock worth $2,006,000 after buying an additional 527 shares during the period. Institutional investors own 80.68% of the company’s stock.
In other AGCO Corporation news, SVP Hans Bernd Veltmaat sold 750 shares of AGCO Corporation stock in a transaction on Tuesday, August 29th. The shares were sold at an average price of $66.52, for a total value of $49,890.00. Following the sale, the senior vice president now directly owns 68,552 shares in the company, valued at approximately $4,560,079.04. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, SVP Robert B. Crain sold 15,000 shares of AGCO Corporation stock in a transaction on 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 owns 89,322 shares in the company, valued at $6,411,533.16. The disclosure for this sale can be found here. Insiders have sold a total of 26,750 shares of company stock worth $1,921,390 over the last 90 days. Insiders own 16.60% of the company’s stock.
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AGCO Corporation (NYSE AGCO) opened at 69.37 on Thursday. The stock has a 50 day moving average of $69.37 and a 200 day moving average of $65.27. 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 $5.52 billion, a PE ratio of 30.33 and a beta of 0.88.
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, topping the Thomson Reuters’ consensus estimate of $1.04 by $0.11. The business had revenue of $2.17 billion for the quarter, compared to analysts’ expectations of $2.08 billion. AGCO Corporation had a net margin of 2.40% and a return on equity of 6.84%. The company’s revenue was up 8.5% compared to the same quarter last year. During the same quarter last year, the company posted $1.25 EPS. Equities analysts expect that AGCO Corporation will post $3.06 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 15th. Stockholders of record on Tuesday, August 15th will be given a dividend of $0.14 per share. 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%.
Several research firms have recently weighed in on AGCO. Jefferies Group LLC reaffirmed a “hold” rating and set a $75.00 price objective on shares of AGCO Corporation in a research report on Thursday, August 31st. BidaskClub lowered AGCO Corporation from a “strong-buy” rating to a “buy” rating in a research note on Friday, July 28th. William Blair upgraded AGCO Corporation from a “market perform” rating to an “outperform” rating in a research note on Tuesday, July 11th. BMO Capital Markets upped their price objective on AGCO Corporation from $55.00 to $70.00 and gave the company a “market perform” rating in a research note on Tuesday, May 30th. Finally, UBS AG restated a “neutral” rating and issued a $73.00 price objective (up previously from $68.00) on shares of AGCO Corporation in a research note on Monday, July 31st. Two research analysts have rated the stock with a sell rating, thirteen have given a hold rating and five have assigned a buy rating to the company. The stock currently has a consensus rating of “Hold” and a consensus price target of $65.73.
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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