Public Employees Retirement System of Ohio cut its stake in AGCO Corporation (NYSE:AGCO) by 8.0% during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 28,848 shares of the industrial products company’s stock after selling 2,507 shares during the period. Public Employees Retirement System of Ohio’s holdings in AGCO Corporation were worth $1,944,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. BlueMountain Capital Management LLC purchased a new position in AGCO Corporation in the second quarter valued at approximately $165,000. PNC Financial Services Group Inc. raised its stake in shares of AGCO Corporation by 3.3% during the first quarter. PNC Financial Services Group Inc. now owns 3,367 shares of the industrial products company’s stock valued at $203,000 after purchasing an additional 106 shares during the period. Advisor Partners LLC purchased a new stake in shares of AGCO Corporation during the second quarter valued at approximately $212,000. Numeric Investors LLC purchased a new stake in shares of AGCO Corporation during the second quarter valued at approximately $229,000. Finally, Riverhead Capital Management LLC raised its stake in shares of AGCO Corporation by 69.7% during the second quarter. Riverhead Capital Management LLC now owns 3,563 shares of the industrial products company’s stock valued at $240,000 after purchasing an additional 1,463 shares during the period. 80.88% of the stock is currently owned by institutional investors and hedge funds.
Shares of AGCO Corporation (AGCO) opened at $67.97 on Monday. The company has a market capitalization of $5,406.97, a P/E ratio of 24.63, a P/E/G ratio of 1.71 and a beta of 0.82. The company has a quick ratio of 0.70, a current ratio of 1.51 and a debt-to-equity ratio of 0.63. AGCO Corporation has a 12 month low of $51.29 and a 12 month high of $75.58.
AGCO Corporation (NYSE:AGCO) last announced its earnings results on Tuesday, October 31st. The industrial products company reported $0.79 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.72 by $0.07. AGCO Corporation had a return on equity of 7.50% and a net margin of 2.59%. The firm had revenue of $1.99 billion during the quarter, compared to analysts’ expectations of $1.92 billion. During the same quarter in the prior year, the business earned $0.51 earnings per share. The company’s revenue was up 12.8% on a year-over-year basis. research analysts expect that AGCO Corporation will post 3.02 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, December 15th. Stockholders of record on Wednesday, November 15th will be issued a dividend of $0.14 per share. The ex-dividend date is Tuesday, November 14th. This represents a $0.56 dividend on an annualized basis and a dividend yield of 0.82%. AGCO Corporation’s dividend payout ratio (DPR) is presently 22.05%.
A number of analysts recently issued reports on AGCO shares. BidaskClub upgraded shares of AGCO Corporation from a “buy” rating to a “strong-buy” rating in a research note on Wednesday, July 19th. TheStreet raised shares of AGCO Corporation from a “c+” rating to a “b+” rating in a report on Thursday, July 27th. UBS AG reaffirmed a “neutral” rating and issued a $73.00 price objective (up previously from $68.00) on shares of AGCO Corporation in a report on Monday, July 31st. BMO Capital Markets boosted their price target on shares of AGCO Corporation from $70.00 to $75.00 and gave the company a “market perform” rating in a report on Tuesday, August 1st. Finally, Piper Jaffray Companies set a $66.00 price target on shares of AGCO Corporation and gave the company a “hold” rating in a report on Wednesday, August 9th. Three equities research analysts have rated the stock with a sell rating, twelve have assigned a hold rating and three have issued a buy rating to the stock. The stock currently has a consensus rating of “Hold” and a consensus price target of $69.07.
In related news, SVP Hans Bernd Veltmaat sold 750 shares of the company’s stock in a transaction on Tuesday, August 29th. The stock was sold at an average price of $66.52, for a total value of $49,890.00. Following the completion of the transaction, the senior vice president now directly owns 68,552 shares in the company, valued at $4,560,079.04. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 16.60% of the stock is owned by insiders.
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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