AGCO Corporation (NYSE:AGCO) Shares Sold by Court Place Advisors LLC

Court Place Advisors LLC lowered its position in AGCO Corporation (NYSE:AGCO) by 0.4% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 6,850 shares of the industrial products company’s stock after selling 25 shares during the period. Court Place Advisors LLC’s holdings in AGCO Corporation were worth $462,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in AGCO. Stevens Capital Management LP acquired a new stake in shares of AGCO Corporation during the first quarter worth approximately $3,648,000. Canada Pension Plan Investment Board raised its stake in shares of AGCO Corporation by 138.0% in the first quarter. Canada Pension Plan Investment Board now owns 472,203 shares of the industrial products company’s stock worth $28,417,000 after buying an additional 273,800 shares during the last quarter. Capstone Asset Management Co. raised its stake in shares of AGCO Corporation by 0.6% in the first quarter. Capstone Asset Management Co. now owns 8,140 shares of the industrial products company’s stock valued at $490,000 after buying an additional 50 shares in the last quarter. Wells Fargo & Company MN raised its stake in shares of AGCO Corporation by 1.6% in the first quarter. Wells Fargo & Company MN now owns 33,326 shares of the industrial products company’s stock valued at $2,006,000 after buying an additional 527 shares in the last quarter. Finally, BNP Paribas Arbitrage SA raised its stake in shares of AGCO Corporation by 54.3% in the first quarter. BNP Paribas Arbitrage SA now owns 79,156 shares of the industrial products company’s stock valued at $4,764,000 after buying an additional 27,863 shares in the last quarter. 84.62% of the stock is currently owned by hedge funds and other institutional investors.

Shares of AGCO Corporation (NYSE AGCO) opened at 72.46 on Thursday. The firm has a market cap of $5.76 billion, a price-to-earnings ratio of 31.68 and a beta of 0.86. AGCO Corporation has a 52 week low of $46.22 and a 52 week high of $73.97. The company has a 50-day moving average price of $69.99 and a 200 day moving average price of $64.50.

AGCO Corporation (NYSE:AGCO) last released its quarterly earnings data on Thursday, July 27th. The industrial products company reported $1.15 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.04 by $0.11. The company had revenue of $2.17 billion for the quarter, compared to the consensus estimate of $2.08 billion. AGCO Corporation had a return on equity of 6.84% and a net margin of 2.40%. AGCO Corporation’s revenue for the quarter was up 8.5% on a year-over-year basis. During the same quarter last year, the business posted $1.25 EPS. Analysts expect that AGCO Corporation will post $3.05 EPS for the current fiscal year.

The business also recently announced a quarterly dividend, which will be paid on Friday, September 15th. Shareholders of record on Tuesday, August 15th will be issued a dividend of $0.14 per share. This represents a $0.56 annualized dividend and a yield of 0.77%. The ex-dividend date is Friday, August 11th. AGCO Corporation’s payout ratio is presently 24.56%.

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Several brokerages have recently issued reports on AGCO. UBS AG upgraded AGCO Corporation from a “sell” rating to a “neutral” rating and lifted their price target for the company from $52.00 to $68.00 in a report on Wednesday, June 21st. BMO Capital Markets raised their price objective on AGCO Corporation from $70.00 to $75.00 and gave the company a “market perform” rating in a research note on Tuesday, August 1st. BidaskClub downgraded AGCO Corporation from a “buy” rating to a “hold” rating in a research note on Wednesday. TheStreet downgraded AGCO Corporation from a “b” rating to a “c+” rating in a research note on Friday, April 28th. Finally, Credit Suisse Group set a $60.00 price objective on AGCO Corporation and gave the company a “hold” rating in a research note on Sunday, April 30th. One analyst has rated the stock with a sell rating, fourteen have assigned a hold rating and five have assigned a buy rating to the stock. The stock has an average rating of “Hold” and an average target price of $64.40.

In related news, VP Richard Robinson Smith sold 2,037 shares of the business’s stock in a transaction dated Friday, May 12th. The stock was sold at an average price of $63.91, for a total value of $130,184.67. Following the completion of the sale, the vice president now directly owns 41,717 shares of the company’s stock, valued at approximately $2,666,133.47. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, SVP Robert B. Crain sold 15,000 shares of the business’s stock in a transaction dated Tuesday, August 1st. The shares were sold at an average price of $71.78, for a total value of $1,076,700.00. Following the completion of the sale, the senior vice president now directly owns 89,322 shares of the company’s stock, valued at $6,411,533.16. The disclosure for this sale can be found here. Insiders have sold a total of 28,037 shares of company stock worth $2,001,685 over the last ninety days. Company insiders own 16.60% of the company’s stock.

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.