GAM Holding AG Acquires Shares of 5,367 AGCO Co. (NYSE:AGCO)
GAM Holding AG acquired a new stake in shares of AGCO Co. (NYSE:AGCO) during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm acquired 5,367 shares of the industrial products company’s stock, valued at approximately $373,000.
Other hedge funds and other institutional investors also recently bought and sold shares of the company. Bronfman E.L. Rothschild L.P. increased its stake in shares of AGCO by 116.6% during the fourth quarter. Bronfman E.L. Rothschild L.P. now owns 771 shares of the industrial products company’s stock valued at $43,000 after acquiring an additional 415 shares during the period. JOYN Advisors Inc. increased its stake in shares of AGCO by 109.5% during the fourth quarter. JOYN Advisors Inc. now owns 857 shares of the industrial products company’s stock valued at $48,000 after acquiring an additional 448 shares during the period. SRS Capital Advisors Inc. increased its stake in shares of AGCO by 183.6% during the fourth quarter. SRS Capital Advisors Inc. now owns 1,126 shares of the industrial products company’s stock valued at $63,000 after acquiring an additional 729 shares during the period. Investors Research Corp acquired a new position in shares of AGCO during the first quarter valued at approximately $94,000. Finally, Advisor Group Inc. increased its stake in shares of AGCO by 40.2% during the first quarter. Advisor Group Inc. now owns 1,423 shares of the industrial products company’s stock valued at $99,000 after acquiring an additional 408 shares during the period. Institutional investors and hedge funds own 80.88% of the company’s stock.
In related news, SVP Robert B. Crain sold 25,000 shares of the firm’s stock in a transaction that occurred on Tuesday, May 7th. The shares were sold at an average price of $72.86, for a total value of $1,821,500.00. Following the completion of the transaction, the senior vice president now owns 81,914 shares of the company’s stock, valued at approximately $5,968,254.04. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Chairman Martin Richenhagen sold 51,000 shares of the firm’s stock in a transaction that occurred on Monday, April 15th. The stock was sold at an average price of $71.47, for a total transaction of $3,644,970.00. Following the completion of the transaction, the chairman now directly owns 495,279 shares of the company’s stock, valued at approximately $35,397,590.13. The disclosure for this sale can be found here. Insiders sold a total of 229,000 shares of company stock valued at $16,217,780 in the last ninety days. Company insiders own 17.60% of the company’s stock.
AGCO (NYSE:AGCO) last posted its quarterly earnings data on Thursday, May 2nd. The industrial products company reported $0.86 EPS for the quarter, topping analysts’ consensus estimates of $0.42 by $0.44. AGCO had a net margin of 3.49% and a return on equity of 11.62%. The firm had revenue of $2 billion during the quarter, compared to analyst estimates of $1.96 billion. During the same quarter last year, the business posted $0.30 EPS. The company’s revenue was down .6% on a year-over-year basis. Sell-side analysts predict that AGCO Co. will post 4.93 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 14th. Investors of record on Wednesday, May 15th will be paid a $0.16 dividend. This is a positive change from AGCO’s previous quarterly dividend of $0.15. The ex-dividend date is Tuesday, May 14th. This represents a $0.64 dividend on an annualized basis and a yield of 0.88%. AGCO’s dividend payout ratio (DPR) is currently 16.45%.
AGCO has been the topic of several recent research reports. Deutsche Bank set a $76.00 price target on shares of AGCO and gave the stock a “buy” rating in a research report on Friday, March 8th. Royal Bank of Canada lifted their price target on shares of AGCO to $76.00 and gave the stock a “positive” rating in a research report on Monday, March 25th. Zacks Investment Research upgraded shares of AGCO from a “hold” rating to a “buy” rating and set a $80.00 price target on the stock in a research report on Tuesday, April 16th. ValuEngine upgraded shares of AGCO from a “hold” rating to a “buy” rating in a research report on Friday, May 3rd. Finally, Morgan Stanley set a $60.00 price target on shares of AGCO and gave the stock a “sell” rating in a research report on Friday, May 3rd. Two research analysts have rated the stock with a sell rating, seven have given a hold rating and six have assigned a buy rating to the company’s stock. The company presently has an average rating of “Hold” and an average target price of $71.50.
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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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