Janney Montgomery Scott LLC purchased a new position in shares of AGCO Co. (NYSE:AGCO – Get Rating) during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 3,555 shares of the industrial products company’s stock, valued at approximately $342,000.
Other institutional investors and hedge funds have also made changes to their positions in the company. DekaBank Deutsche Girozentrale increased its position in AGCO by 60.4% in the 2nd quarter. DekaBank Deutsche Girozentrale now owns 694,945 shares of the industrial products company’s stock valued at $70,406,000 after acquiring an additional 261,735 shares during the period. Mackenzie Financial Corp increased its position in AGCO by 330.1% in the 1st quarter. Mackenzie Financial Corp now owns 260,139 shares of the industrial products company’s stock valued at $37,988,000 after acquiring an additional 199,650 shares during the period. Bank Julius Baer & Co. Ltd Zurich increased its position in AGCO by 129.7% in the 2nd quarter. Bank Julius Baer & Co. Ltd Zurich now owns 287,319 shares of the industrial products company’s stock valued at $28,358,000 after acquiring an additional 162,248 shares during the period. Vanguard Group Inc. increased its position in AGCO by 1.7% in the 1st quarter. Vanguard Group Inc. now owns 6,453,637 shares of the industrial products company’s stock valued at $942,424,000 after acquiring an additional 106,593 shares during the period. Finally, First Trust Advisors LP increased its position in AGCO by 38.2% in the 1st quarter. First Trust Advisors LP now owns 362,203 shares of the industrial products company’s stock valued at $52,893,000 after acquiring an additional 100,096 shares during the period. 75.48% of the stock is currently owned by institutional investors and hedge funds.
Analyst Upgrades and Downgrades
AGCO has been the topic of several analyst reports. Wells Fargo & Company raised their target price on AGCO from $165.00 to $170.00 and gave the company an “overweight” rating in a research report on Monday, December 19th. Credit Suisse Group lifted their price target on AGCO from $143.00 to $174.00 and gave the company an “outperform” rating in a research report on Thursday, December 22nd. Deutsche Bank Aktiengesellschaft lowered their price target on AGCO from $137.00 to $129.00 in a research report on Wednesday, November 2nd. JPMorgan Chase & Co. lifted their price target on AGCO from $135.00 to $155.00 and gave the company an “overweight” rating in a research report on Tuesday, December 13th. Finally, Robert W. Baird initiated coverage on AGCO in a research report on Tuesday, September 27th. They set an “outperform” rating and a $156.00 price target on the stock. Two equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the company. According to data from MarketBeat.com, AGCO has an average rating of “Moderate Buy” and an average price target of $153.70.
Insider Buying and Selling
AGCO Stock Performance
AGCO opened at $137.73 on Wednesday. The firm has a market cap of $10.27 billion, a PE ratio of 12.16, a P/E/G ratio of 0.96 and a beta of 1.38. The company has a quick ratio of 0.66, a current ratio of 1.58 and a debt-to-equity ratio of 0.52. The business has a fifty day simple moving average of $133.89 and a 200-day simple moving average of $117.36. AGCO Co. has a fifty-two week low of $88.55 and a fifty-two week high of $150.28.
AGCO (NYSE:AGCO – Get Rating) last announced its quarterly earnings data on Tuesday, November 1st. The industrial products company reported $3.18 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.12 by $0.06. AGCO had a return on equity of 23.61% and a net margin of 7.13%. The business had revenue of $3.10 billion during the quarter, compared to analyst estimates of $3.30 billion. During the same period last year, the company earned $2.41 earnings per share. AGCO’s quarterly revenue was up 13.8% compared to the same quarter last year. As a group, equities analysts predict that AGCO Co. will post 11.86 EPS for the current fiscal year.
AGCO Announces Dividend
The company also recently announced a quarterly dividend, which will be paid on Wednesday, March 15th. Investors of record on Wednesday, February 15th will be given a dividend of $0.24 per share. This represents a $0.96 dividend on an annualized basis and a yield of 0.70%. The ex-dividend date of this dividend is Tuesday, February 14th. AGCO’s dividend payout ratio (DPR) is presently 8.47%.
AGCO Corp. engages in the manufacture and distribution of agricultural equipment and related replacement parts. It operates through the following geographic segments: North America, South America, Europe and Middle East, and Asia, Pacific, and Africa. The Asia/Pacific/Africa segment includes the regions of Australia and New Zealand.
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