Prudential Financial Inc. trimmed its position in shares of AGCO Co. (NYSE:AGCO) by 2.5% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 466,560 shares of the industrial products company’s stock after selling 11,860 shares during the quarter. Prudential Financial Inc.’s holdings in AGCO were worth $28,363,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds have also recently bought and sold shares of the company. Whittier Trust Co. purchased a new stake in AGCO during the second quarter worth $124,000. Convergence Investment Partners LLC boosted its position in AGCO by 1,586.6% during the second quarter. Convergence Investment Partners LLC now owns 3,407 shares of the industrial products company’s stock worth $207,000 after purchasing an additional 3,205 shares in the last quarter. CHICAGO TRUST Co NA purchased a new stake in AGCO during the third quarter worth $244,000. FDx Advisors Inc. boosted its position in AGCO by 21.7% during the second quarter. FDx Advisors Inc. now owns 5,483 shares of the industrial products company’s stock worth $333,000 after purchasing an additional 978 shares in the last quarter. Finally, Allianz Asset Management GmbH boosted its position in AGCO by 26.8% during the first quarter. Allianz Asset Management GmbH now owns 6,263 shares of the industrial products company’s stock worth $406,000 after purchasing an additional 1,322 shares in the last quarter. Institutional investors own 87.03% of the company’s stock.
A number of research firms have commented on AGCO. ValuEngine upgraded AGCO from a “sell” rating to a “hold” rating in a research report on Tuesday, October 2nd. 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 research report on Monday, August 13th. TheStreet upgraded AGCO from a “c+” rating to a “b-” rating in a research report on Tuesday, July 31st. Deutsche Bank set a $79.00 target price on AGCO and gave the stock a “buy” rating in a research report on Wednesday, September 5th. Finally, Zacks Investment Research downgraded AGCO from a “hold” rating to a “sell” rating in a research report on Tuesday, October 16th. Three research analysts have rated the stock with a sell rating, eleven have given a hold rating and three have assigned a buy rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus target price of $68.64.
AGCO (NYSE:AGCO) last issued its quarterly earnings data on Tuesday, October 30th. The industrial products company reported $0.91 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.83 by $0.08. AGCO had a return on equity of 9.70% and a net margin of 2.49%. The business had revenue of $2.21 billion for the quarter, compared to the consensus estimate of $2.15 billion. During the same period in the prior year, the business earned $0.76 earnings per share. The business’s revenue was up 11.5% on a year-over-year basis. On average, equities analysts anticipate that AGCO Co. will post 3.78 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 14th. Stockholders of record on Thursday, November 15th will be given a $0.15 dividend. The ex-dividend date of this dividend is Wednesday, November 14th. This represents a $0.60 annualized dividend and a dividend yield of 1.04%. AGCO’s dividend payout ratio is currently 19.87%.
In other news, VP Gary L. Collar sold 2,070 shares of the company’s stock in a transaction on Monday, November 12th. The stock was sold at an average price of $56.64, for a total value of $117,244.80. Following the sale, the vice president now directly owns 84,463 shares in the company, valued at $4,783,984.32. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 16.60% of the stock is owned by corporate insiders.
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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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