Wells Fargo & Company MN Has $4.36 Million Stake in AGCO Corporation (AGCO)

Wells Fargo & Company MN lifted its holdings in shares of AGCO Corporation (NYSE:AGCO) by 94.0% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 64,651 shares of the industrial products company’s stock after acquiring an additional 31,325 shares during the quarter. Wells Fargo & Company MN owned 0.08% of AGCO Corporation worth $4,357,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also made changes to their positions in AGCO. Advisor Partners LLC acquired a new position in AGCO Corporation in the second quarter worth about $212,000. PNC Financial Services Group Inc. grew its stake in AGCO Corporation by 3.3% in the first quarter. PNC Financial Services Group Inc. now owns 3,367 shares of the industrial products company’s stock worth $203,000 after purchasing an additional 106 shares in the last quarter. OLD Mutual Customised Solutions Proprietary Ltd. grew its stake in AGCO Corporation by 59.1% in the first quarter. OLD Mutual Customised Solutions Proprietary Ltd. now owns 3,500 shares of the industrial products company’s stock worth $211,000 after purchasing an additional 1,300 shares in the last quarter. Zweig DiMenna Associates LLC acquired a new position in AGCO Corporation in the second quarter worth about $270,000. Finally, Cornerstone Capital Management Holdings LLC. acquired a new position in AGCO Corporation in the first quarter worth about $246,000. 80.73% of the stock is currently owned by institutional investors and hedge funds.

AGCO has been the subject of a number of research reports. TheStreet upgraded AGCO Corporation from a “c+” rating to a “b+” rating in a research note on Thursday, July 27th. BidaskClub downgraded AGCO Corporation from a “strong-buy” rating to a “buy” rating in a research note on Friday, July 28th. Deutsche Bank AG reiterated a “buy” rating and issued a $90.00 price target (up from $88.00) on shares of AGCO Corporation in a research note on Thursday, September 21st. Piper Jaffray Companies reiterated a “hold” rating and issued a $66.00 price target on shares of AGCO Corporation in a research note on Sunday, September 17th. Finally, Jefferies Group LLC reiterated a “hold” rating and issued a $75.00 price target on shares of AGCO Corporation in a research note on Thursday, August 31st. Three research analysts have rated the stock with a sell rating, eleven have assigned a hold rating and four have issued a buy rating to the stock. AGCO Corporation presently has an average rating of “Hold” and a consensus target price of $68.36.

In other news, CFO Andrew H. Beck sold 10,000 shares of the stock in a transaction that occurred on Friday, August 4th. The shares were sold at an average price of $72.18, for a total transaction of $721,800.00. Following the sale, the chief financial officer now directly owns 142,079 shares of the company’s stock, valued at $10,255,262.22. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Hans Bernd Veltmaat sold 750 shares of the stock in a transaction that occurred on Tuesday, August 29th. The shares were sold at an average price of $66.52, for a total transaction of $49,890.00. Following the sale, the senior vice president now directly owns 68,552 shares in the company, valued at $4,560,079.04. The disclosure for this sale can be found here. Insiders have sold 26,750 shares of company stock worth $1,921,390 over the last ninety days. Insiders own 16.60% of the company’s stock.

AGCO Corporation (AGCO) opened at 71.48 on Friday. The stock’s 50 day moving average price is $71.50 and its 200 day moving average price is $67.39. The firm has a market capitalization of $5.69 billion, a P/E ratio of 31.25 and a beta of 0.86. AGCO Corporation has a 12 month low of $48.93 and a 12 month high of $75.58.

AGCO Corporation (NYSE:AGCO) last issued its quarterly earnings data on Thursday, July 27th. The industrial products company reported $1.15 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.04 by $0.11. The firm had revenue of $2.17 billion for the quarter, compared to analysts’ expectations of $2.08 billion. AGCO Corporation had a net margin of 2.40% and a return on equity of 6.84%. The company’s quarterly revenue was up 8.5% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.25 earnings per share. On average, analysts forecast that AGCO Corporation will post $3.05 earnings per share for the current year.

WARNING: This article was originally published by The Ledger Gazette and is owned by of The Ledger Gazette. If you are reading this article on another publication, it was copied illegally and reposted in violation of United States & international copyright and trademark legislation. The legal version of this article can be viewed at https://ledgergazette.com/2017/10/15/wells-fargo-company-mn-has-4-36-million-stake-in-agco-corporation-agco.html.

AGCO Cor

Several other hedge funds and other institutional investors have also made changes to their positions in AGCO. Advisor Partners LLC acquired a new position in AGCO Corporation in the second quarter worth about $212,000. PNC Financial Services Group Inc. grew its stake in AGCO Corporation by 3.3% in the first quarter. PNC Financial Services Group Inc. now owns 3,367 shares of the industrial products company’s stock worth $203,000 after purchasing an additional 106 shares in the last quarter. OLD Mutual Customised Solutions Proprietary Ltd. grew its stake in AGCO Corporation by 59.1% in the first quarter. OLD Mutual Customised Solutions Proprietary Ltd. now owns 3,500 shares of the industrial products company’s stock worth $211,000 after purchasing an additional 1,300 shares in the last quarter. Zweig DiMenna Associates LLC acquired a new position in AGCO Corporation in the second quarter worth about $270,000. Finally, Cornerstone Capital Management Holdings LLC. acquired a new position in AGCO Corporation in the first quarter worth about $246,000. 80.73% of the stock is currently owned by institutional investors and hedge funds.

AGCO has been the subject of a number of research reports. TheStreet upgraded AGCO Corporation from a “c+” rating to a “b+” rating in a research note on Thursday, July 27th. BidaskClub downgraded AGCO Corporation from a “strong-buy” rating to a “buy” rating in a research note on Friday, July 28th. Deutsche Bank AG reiterated a “buy” rating and issued a $90.00 price target (up from $88.00) on shares of AGCO Corporation in a research note on Thursday, September 21st. Piper Jaffray Companies reiterated a “hold” rating and issued a $66.00 price target on shares of AGCO Corporation in a research note on Sunday, September 17th. Finally, Jefferies Group LLC reiterated a “hold” rating and issued a $75.00 price target on shares of AGCO Corporation in a research note on Thursday, August 31st. Three research analysts have rated the stock with a sell rating, eleven have assigned a hold rating and four have issued a buy rating to the stock. AGCO Corporation presently has an average rating of “Hold” and a consensus target price of $68.36.

In other news, CFO Andrew H. Beck sold 10,000 shares of the stock in a transaction that occurred on Friday, August 4th. The shares were sold at an average price of $72.18, for a total transaction of $721,800.00. Following the sale, the chief financial officer now directly owns 142,079 shares of the company’s stock, valued at $10,255,262.22. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Hans Bernd Veltmaat sold 750 shares of the stock in a transaction that occurred on Tuesday, August 29th. The shares were sold at an average price of $66.52, for a total transaction of $49,890.00. Following the sale, the senior vice president now directly owns 68,552 shares in the company, valued at $4,560,079.04. The disclosure for this sale can be found here. Insiders have sold 26,750 shares of company stock worth $1,921,390 over the last ninety days. Insiders own 16.60% of the company’s stock.

AGCO Corporation (AGCO) opened at 71.48 on Friday. The stock’s 50 day moving average price is $71.50 and its 200 day moving average price is $67.39. The firm has a market capitalization of $5.69 billion, a P/E ratio of 31.25 and a beta of 0.86. AGCO Corporation has a 12 month low of $48.93 and a 12 month high of $75.58.

AGCO Corporation (NYSE:AGCO) last issued its quarterly earnings data on Thursday, July 27th. The industrial products company reported $1.15 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.04 by $0.11. The firm had revenue of $2.17 billion for the quarter, compared to analysts’ expectations of $2.08 billion. AGCO Corporation had a net margin of 2.40% and a return on equity of 6.84%. The company’s quarterly revenue was up 8.5% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.25 earnings per share. On average, analysts forecast that AGCO Corporation will post $3.05 earnings per share for the current year.

WARNING: This article was originally published by The Ledger Gazette and is owned by of The Ledger Gazette. If you are reading this article on another publication, it was copied illegally and reposted in violation of United States & international copyright and trademark legislation. The legal version of this article can be viewed at https://ledgergazette.com/2017/10/15/wells-fargo-company-mn-has-4-36-million-stake-in-agco-corporation-agco.html.

AGCO Corporation 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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Institutional Ownership by Quarter for AGCO Corporation (NYSE:AGCO)

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