Canada Pension Plan Investment Board increased its stake in AGCO Co. (NYSE:AGCO) by 8.5% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 688,603 shares of the industrial products company’s stock after buying an additional 53,700 shares during the quarter. Canada Pension Plan Investment Board’s holdings in AGCO were worth $41,860,000 as of its most recent SEC filing.
Other institutional investors and hedge funds also recently modified their holdings of the company. Whittier Trust Co. bought a new stake in shares of AGCO during the second quarter worth $124,000. Convergence Investment Partners LLC lifted its position in shares of 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 during the last quarter. CHICAGO TRUST Co NA bought a new stake in shares of AGCO during the third quarter worth $244,000. FDx Advisors Inc. lifted its position in shares of 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 during the last quarter. Finally, Campbell & CO Investment Adviser LLC bought a new stake in shares of AGCO during the third quarter worth $374,000. Institutional investors own 87.03% of the company’s stock.
In other news, VP Gary L. Collar sold 2,070 shares of the firm’s 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 transaction, the vice president now owns 84,463 shares in the company, valued at $4,783,984.32. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Company insiders own 16.70% of the company’s stock.
AGCO (NYSE:AGCO) last announced its quarterly earnings results on Tuesday, October 30th. The industrial products company reported $0.91 EPS for the quarter, beating the consensus estimate of $0.83 by $0.08. The firm had revenue of $2.21 billion for the quarter, compared to analyst estimates of $2.15 billion. AGCO had a return on equity of 9.70% and a net margin of 2.49%. The business’s revenue for the quarter was up 11.5% on a year-over-year basis. During the same quarter last year, the firm posted $0.76 earnings per share. Sell-side analysts predict that AGCO Co. will post 3.78 earnings per share for the current year.
The company also recently declared a quarterly dividend, which will be paid on Friday, December 14th. Stockholders of record on Thursday, November 15th will be paid a dividend of $0.15 per share. The ex-dividend date 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%.
AGCO has been the subject of several research analyst reports. ValuEngine downgraded AGCO from a “hold” rating to a “sell” rating in a research report on Tuesday, September 4th. Deutsche Bank reiterated a “buy” rating on shares of AGCO in a research report on Monday, September 24th. JPMorgan Chase & Co. upgraded AGCO from an “underweight” rating to a “neutral” rating and lifted their target price for the stock from $55.00 to $57.00 in a research report on Wednesday, October 31st. Morgan Stanley decreased their target price on AGCO from $66.00 to $53.00 and set a “sell” rating for the company in a research report on Wednesday, October 31st. Finally, TheStreet upgraded AGCO from a “c+” rating to a “b-” rating in a research report on Tuesday, July 31st. Three investment analysts have rated the stock with a sell rating, eleven have assigned a hold rating and three have issued a buy rating to the company’s stock. AGCO presently has an average rating of “Hold” and an average price target of $68.64.
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AGCO Company Profile
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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