Campbell & CO Investment Adviser LLC Takes $374,000 Position in AGCO Co. (AGCO)
Campbell & CO Investment Adviser LLC purchased a new stake in shares of AGCO Co. (NYSE:AGCO) in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm purchased 6,157 shares of the industrial products company’s stock, valued at approximately $374,000.
Several other institutional investors and hedge funds have also modified their holdings of the stock. Whittier Trust Co. bought a new position in shares of AGCO in the second quarter worth $124,000. Convergence Investment Partners LLC boosted its holdings in shares of AGCO by 1,586.6% in the second quarter. Convergence Investment Partners LLC now owns 3,407 shares of the industrial products company’s stock worth $207,000 after acquiring an additional 3,205 shares during the period. CHICAGO TRUST Co NA bought a new position in shares of AGCO in the third quarter worth $244,000. FDx Advisors Inc. boosted its holdings in shares of AGCO by 21.7% in the second quarter. FDx Advisors Inc. now owns 5,483 shares of the industrial products company’s stock worth $333,000 after acquiring an additional 978 shares during the period. Finally, Allianz Asset Management GmbH boosted its holdings in shares of AGCO by 26.8% in the first quarter. Allianz Asset Management GmbH now owns 6,263 shares of the industrial products company’s stock worth $406,000 after acquiring an additional 1,322 shares during the period. 87.03% of the stock is owned by institutional investors.
NYSE:AGCO opened at $57.18 on Monday. The firm has a market cap of $4.48 billion, a P/E ratio of 15.54, a price-to-earnings-growth ratio of 0.95 and a beta of 0.78. AGCO Co. has a 52-week low of $49.50 and a 52-week high of $75.95. The company has a debt-to-equity ratio of 0.57, a current ratio of 1.42 and a quick ratio of 0.63.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 14th. Investors of record on Thursday, November 15th will be paid a dividend of $0.15 per share. This represents a $0.60 annualized dividend and a yield of 1.05%. The ex-dividend date is Wednesday, November 14th. AGCO’s dividend payout ratio is 19.87%.
In related news, VP Gary L. Collar sold 2,070 shares of AGCO stock in a transaction on Monday, November 12th. The stock was sold at an average price of $56.64, for a total transaction of $117,244.80. Following the completion of the sale, the vice president now owns 84,463 shares of the company’s stock, valued at $4,783,984.32. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 16.70% of the stock is currently owned by company insiders.
A number of equities analysts have recently commented on the company. Deutsche Bank reaffirmed a “buy” rating on shares of AGCO in a report on Monday, September 24th. ValuEngine lowered AGCO from a “hold” rating to a “sell” rating in a report on Tuesday, September 4th. JPMorgan Chase & Co. raised AGCO from an “underweight” rating to a “neutral” rating and raised their price target for the stock from $55.00 to $57.00 in a report on Wednesday, October 31st. Zacks Investment Research lowered AGCO from a “hold” rating to a “sell” rating in a report on Tuesday, October 16th. Finally, Citigroup cut their price target on AGCO from $65.00 to $64.00 and set a “neutral” rating for the company in a report on Friday, November 2nd. Three equities research analysts have rated the stock with a sell rating, eleven have assigned a hold rating and two have issued a buy rating to the stock. The stock has a consensus rating of “Hold” and an average target price of $68.64.
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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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