Oregon Public Employees Retirement Fund Reduces Position in AGCO Co. (AGCO)
Oregon Public Employees Retirement Fund cut its position in shares of AGCO Co. (NYSE:AGCO) by 10.9% during the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 74,476 shares of the industrial products company’s stock after selling 9,065 shares during the quarter. Oregon Public Employees Retirement Fund owned about 0.09% of AGCO worth $4,522,000 as of its most recent filing with the Securities & Exchange Commission.
Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in AGCO. New York State Teachers Retirement System boosted its position in shares of AGCO by 6.1% during the first quarter. New York State Teachers Retirement System now owns 112,302 shares of the industrial products company’s stock valued at $7,283,000 after purchasing an additional 6,500 shares in the last quarter. Sumitomo Mitsui Trust Holdings Inc. boosted its holdings in AGCO by 0.9% in the first quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 188,095 shares of the industrial products company’s stock worth $12,198,000 after acquiring an additional 1,602 shares in the last quarter. DekaBank Deutsche Girozentrale boosted its holdings in AGCO by 123.2% in the first quarter. DekaBank Deutsche Girozentrale now owns 43,834 shares of the industrial products company’s stock worth $2,842,000 after acquiring an additional 24,198 shares in the last quarter. Trexquant Investment LP bought a new stake in AGCO in the first quarter worth $1,443,000. Finally, American Century Companies Inc. bought a new stake in AGCO in the first quarter worth $487,000. Institutional investors own 85.07% of the company’s stock.
Several equities research analysts have commented on the company. ValuEngine raised AGCO from a “sell” rating to a “hold” rating in a report on Tuesday, July 31st. TheStreet raised AGCO from a “c+” rating to a “b-” rating in a report on Tuesday, July 31st. Jefferies Financial Group reissued a “hold” rating and issued a $70.00 target price on shares of AGCO in a report on Friday, July 20th. Zacks Investment Research raised AGCO from a “hold” rating to a “buy” rating and set a $68.00 target price on the stock in a report on Tuesday, July 3rd. Finally, JPMorgan Chase & Co. downgraded AGCO from a “neutral” rating to an “underweight” rating and set a $55.00 target price on the stock. in a report on Monday, August 13th. Four equities research analysts have rated the stock with a sell rating, twelve have issued a hold rating and two have given a buy rating to the stock. AGCO presently has a consensus rating of “Hold” and an average price target of $71.00.
AGCO (NYSE:AGCO) last announced its quarterly earnings results on Tuesday, July 31st. The industrial products company reported $1.32 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.28 by $0.04. The firm had revenue of $2.54 billion for the quarter, compared to the consensus estimate of $2.45 billion. AGCO had a return on equity of 9.31% and a net margin of 2.44%. The company’s quarterly revenue was up 17.2% on a year-over-year basis. During the same period in the prior year, the company posted $1.15 earnings per share. research analysts predict that AGCO Co. will post 3.78 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, September 14th. Stockholders of record on Wednesday, August 15th will be issued a dividend of $0.15 per share. This represents a $0.60 dividend on an annualized basis and a dividend yield of 0.99%. The ex-dividend date of this dividend is Tuesday, August 14th. AGCO’s payout ratio is currently 19.87%.
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.
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