Credit Suisse AG reduced its position in shares of AGCO Corporation (NYSE:AGCO) by 1.2% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 104,230 shares of the industrial products company’s stock after selling 1,277 shares during the period. Credit Suisse AG owned approximately 0.13% of AGCO Corporation worth $6,271,000 at the end of the most recent quarter.
A number of other institutional investors also recently made changes to their positions in the stock. Guggenheim Capital LLC raised its position in shares of AGCO Corporation by 20.5% in the fourth quarter. Guggenheim Capital LLC now owns 64,121 shares of the industrial products company’s stock worth $3,710,000 after buying an additional 10,917 shares in the last quarter. Norges Bank bought a new position in shares of AGCO Corporation during the fourth quarter worth about $41,812,000. Quadrature Capital Ltd raised its position in shares of AGCO Corporation by 34.6% in the fourth quarter. Quadrature Capital Ltd now owns 6,756 shares of the industrial products company’s stock worth $391,000 after buying an additional 1,736 shares in the last quarter. Teachers Advisors LLC raised its position in shares of AGCO Corporation by 117.6% in the fourth quarter. Teachers Advisors LLC now owns 389,304 shares of the industrial products company’s stock worth $22,525,000 after buying an additional 210,402 shares in the last quarter. Finally, Macquarie Group Ltd. raised its position in shares of AGCO Corporation by 26.3% in the fourth quarter. Macquarie Group Ltd. now owns 4,800 shares of the industrial products company’s stock worth $278,000 after buying an additional 1,000 shares in the last quarter. Hedge funds and other institutional investors own 84.23% of the company’s stock.
AGCO Corporation (AGCO) opened at 71.50 on Thursday. AGCO Corporation has a 52-week low of $46.22 and a 52-week high of $71.51. The company has a market cap of $5.68 billion, a price-to-earnings ratio of 40.60 and a beta of 0.85. The stock’s 50 day moving average is $67.48 and its 200 day moving average is $63.32.
AGCO Corporation (NYSE:AGCO) last issued its quarterly earnings data on Friday, April 28th. The industrial products company reported ($0.02) earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.17) by $0.15. AGCO Corporation had a return on equity of 6.55% and a net margin of 1.90%. The business had revenue of $1.63 billion during the quarter, compared to analyst estimates of $1.54 billion. During the same period in the previous year, the firm earned $0.11 EPS. AGCO Corporation’s quarterly revenue was up 4.4% compared to the same quarter last year. Equities research analysts forecast that AGCO Corporation will post $2.79 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 15th. Investors of record on Tuesday, August 15th will be given a $0.14 dividend. The ex-dividend date of this dividend is Friday, August 11th. This represents a $0.56 annualized dividend and a dividend yield of 0.78%. AGCO Corporation’s dividend payout ratio is presently 32.00%.
AGCO has been the subject of a number of recent analyst reports. Stifel Nicolaus initiated coverage on shares of AGCO Corporation in a research report on Monday, April 10th. They issued a “hold” rating and a $64.00 target price for the company. Zacks Investment Research upgraded shares of AGCO Corporation from a “hold” rating to a “buy” rating and set a $68.00 target price for the company in a research report on Tuesday, April 11th. Credit Suisse Group set a $60.00 target price on shares of AGCO Corporation and gave the company a “hold” rating in a research report on Wednesday, April 12th. J P Morgan Chase & Co upgraded shares of AGCO Corporation from an “underweight” rating to a “neutral” rating and increased their target price for the company from $47.00 to $60.00 in a research report on Monday, May 1st. Finally, Seaport Global Securities increased their target price on shares of AGCO Corporation from $57.00 to $61.00 and gave the company a “neutral” rating in a research report on Monday, May 1st. One analyst has rated the stock with a sell rating, thirteen have given a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the stock. AGCO Corporation presently has a consensus rating of “Hold” and an average target price of $63.73.
In other AGCO Corporation news, VP Richard Robinson Smith sold 2,037 shares of the company’s stock in a transaction that occurred on Friday, May 12th. The stock was sold at an average price of $63.91, for a total transaction of $130,184.67. Following the completion of the transaction, the vice president now owns 41,717 shares of the company’s stock, valued at approximately $2,666,133.47. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, SVP Lucinda B. Smith sold 5,000 shares of the company’s stock in a transaction that occurred on Friday, May 5th. The stock was sold at an average price of $64.00, for a total value of $320,000.00. Following the transaction, the senior vice president now directly owns 40,977 shares of the company’s stock, valued at approximately $2,622,528. The disclosure for this sale can be found here. 16.60% of the stock is currently owned by insiders.
AGCO Corporation Company Profile
AGCO Corporation is a manufacturer and distributor of agricultural equipment and related replacement parts. The Company sells a range of agricultural equipment, including tractors, combines, self-propelled sprayers, hay tools, forage equipment, seeding and tillage equipment, implements, and grain storage and protein production systems.
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