AGCO Corporation $AGCO Stock Sold by CenterBook Partners LP

CenterBook Partners LP lessened its stake in AGCO Corporation (NYSE:AGCO) by 54.3% in the 3rd quarter, Holdings Channel reports. The firm owned 7,284 shares of the industrial products company’s stock after selling 8,639 shares during the period. CenterBook Partners LP’s holdings in AGCO were worth $832,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. BlackRock Inc. purchased a new stake in AGCO in the second quarter valued at approximately $701,908,000. Bank of New York Mellon Corp purchased a new position in shares of AGCO during the second quarter worth $64,273,000. Bank of America Corp DE boosted its position in shares of AGCO by 19.4% during the first quarter. Bank of America Corp DE now owns 543,955 shares of the industrial products company’s stock worth $63,028,000 after buying an additional 88,571 shares during the period. Quantinno Capital Management LP boosted its position in shares of AGCO by 15.1% during the first quarter. Quantinno Capital Management LP now owns 492,234 shares of the industrial products company’s stock worth $57,035,000 after buying an additional 64,453 shares during the period. Finally, Arrowstreet Capital Limited Partnership purchased a new position in shares of AGCO during the first quarter worth $19,577,000. Hedge funds and other institutional investors own 78.80% of the company’s stock.

AGCO Price Performance

Shares of AGCO opened at $113.13 on Wednesday. AGCO Corporation has a fifty-two week low of $98.22 and a fifty-two week high of $143.78. The firm’s 50 day moving average price is $114.15 and its 200 day moving average price is $116.30. The company has a market cap of $7.80 billion, a P/E ratio of 29.08, a PEG ratio of 0.89 and a beta of 1.12. The company has a quick ratio of 0.55, a current ratio of 1.32 and a debt-to-equity ratio of 0.53.

AGCO (NYSE:AGCO) last released its earnings results on Thursday, October 29th. The industrial products company reported $1.05 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.87 by $0.18. AGCO had a net margin of 2.76% and a return on equity of 9.66%. The company had revenue of $2.26 billion for the quarter, compared to analyst estimates of $2.32 billion. During the same period in the prior year, the business earned $1.35 EPS. The firm’s quarterly revenue was down 8.6% on a year-over-year basis. On average, research analysts forecast that AGCO Corporation will post 5.49 earnings per share for the current fiscal year.

AGCO Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 15th. Stockholders of record on Monday, November 16th will be given a dividend of $0.30 per share. The ex-dividend date of this dividend is Monday, November 16th. This represents a $1.20 dividend on an annualized basis and a dividend yield of 1.1%. AGCO’s dividend payout ratio is currently 30.85%.

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on AGCO. Zacks Research raised AGCO from a “strong sell” rating to a “hold” rating in a research note on Monday, October 5th. Barclays decreased their target price on AGCO from $105.00 to $97.00 and set an “underweight” rating on the stock in a research note on Monday, October 19th. Wells Fargo & Company lowered their target price on AGCO from $132.00 to $117.00 and set an “equal weight” rating for the company in a report on Friday, July 31st. Weiss Ratings cut AGCO from a “hold (c+)” rating to a “hold (c-)” rating in a report on Friday, October 30th. Finally, DA Davidson reaffirmed a “buy” rating and issued a $151.00 target price on shares of AGCO in a research report on Thursday, October 8th. Five analysts have rated the stock with a Buy rating, seven have given a Hold rating and two have issued a Sell rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $123.67.

Insider Buying and Selling at AGCO

In related news, CEO Eric P. Hansotia sold 2,604 shares of AGCO stock in a transaction on Friday, September 4th. The stock was sold at an average price of $129.75, for a total value of $337,869.00. Following the completion of the transaction, the chief executive officer directly owned 326,939 shares in the company, valued at approximately $42,420,335.25. This trade represents a 0.79% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, SVP Torsten Dehner sold 15,000 shares of the business’s stock in a transaction on Monday, November 9th. The stock was sold at an average price of $112.50, for a total value of $1,687,500.00. Following the transaction, the senior vice president directly owned 19,589 shares of the company’s stock, valued at $2,203,762.50. The trade was a 43.37% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last ninety days, insiders have sold 32,597 shares of company stock valued at $3,721,969. Insiders own 0.62% of the company’s stock.

AGCO Company Profile

AGCO Corporation designs, manufactures and distributes agricultural equipment and technology for farmers around the world. Its products include tractors, combines, hay and forage equipment, sprayers, seeding and tillage equipment, grain storage systems, and precision agriculture solutions. The company’s brands include Fendt, Massey Ferguson, Valtra, and PTx, its precision agriculture business. AGCO was formed in 1990 and is headquartered in Duluth, Georgia. AGCO serves agricultural markets globally through a network of dealers and other distribution partners.