American Century Companies Inc. acquired a new position in AGCO (NYSE:AGCO) in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 7,505 shares of the industrial products company’s stock, valued at approximately $487,000.
Other hedge funds have also recently made changes to their positions in the company. Avestar Capital LLC acquired a new stake in AGCO in the fourth quarter worth about $111,000. Tower Research Capital LLC TRC acquired a new stake in AGCO in the fourth quarter worth about $188,000. Advisor Group Inc. increased its position in AGCO by 187.9% in the fourth quarter. Advisor Group Inc. now owns 2,709 shares of the industrial products company’s stock worth $192,000 after purchasing an additional 1,768 shares during the period. Raymond James Financial Services Advisors Inc. acquired a new stake in AGCO in the fourth quarter worth about $257,000. Finally, Toronto Dominion Bank increased its position in AGCO by 39.6% in the fourth quarter. Toronto Dominion Bank now owns 3,750 shares of the industrial products company’s stock worth $268,000 after purchasing an additional 1,064 shares during the period. Hedge funds and other institutional investors own 83.61% of the company’s stock.
In other news, SVP Lucinda B. Smith sold 1,500 shares of AGCO stock in a transaction dated Monday, May 21st. The stock was sold at an average price of $68.50, for a total transaction of $102,750.00. Following the transaction, the senior vice president now owns 44,373 shares in the company, valued at approximately $3,039,550.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 16.60% of the company’s stock.
AGCO (NYSE:AGCO) last issued its earnings results on Tuesday, May 1st. The industrial products company reported $0.35 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.12 by $0.23. AGCO had a return on equity of 8.86% and a net margin of 2.54%. The firm had revenue of $2.01 billion for the quarter, compared to analysts’ expectations of $1.85 billion. During the same quarter last year, the business earned ($0.02) earnings per share. The company’s revenue was up 23.3% compared to the same quarter last year. equities analysts predict that AGCO will post 3.81 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, June 15th. Stockholders of record on Tuesday, May 15th will be issued a dividend of $0.15 per share. This represents a $0.60 annualized dividend and a dividend yield of 0.94%. The ex-dividend date is Monday, May 14th. AGCO’s dividend payout ratio (DPR) is presently 19.87%.
AGCO has been the subject of a number of research reports. JPMorgan Chase & Co. upgraded AGCO from an “underweight” rating to a “neutral” rating in a research report on Wednesday, February 7th. Bank of America lowered their price objective on AGCO from $70.00 to $64.00 and set an “underperform” rating for the company in a research report on Wednesday, February 7th. Credit Suisse Group lowered their price objective on AGCO from $72.00 to $68.00 and set a “neutral” rating for the company in a research report on Wednesday, May 2nd. ValuEngine lowered AGCO from a “buy” rating to a “hold” rating in a research report on Wednesday, May 2nd. Finally, Citigroup lowered their price objective on AGCO from $76.00 to $65.00 and set a “neutral” rating for the company in a research report on Friday, May 4th. Three equities research analysts have rated the stock with a sell rating, thirteen have given a hold rating and three have assigned a buy rating to the company’s stock. AGCO presently has an average rating of “Hold” and an average price target of $72.79.
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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