ProShare Advisors LLC increased its position in AGCO Co. (NYSE:AGCO – Free Report) by 18.6% in the first quarter, Holdings Channel.com reports. The fund owned 4,782 shares of the industrial products company’s stock after acquiring an additional 751 shares during the quarter. ProShare Advisors LLC’s holdings in AGCO were worth $647,000 at the end of the most recent reporting period.
A number of other large investors also recently modified their holdings of the company. Acadian Asset Management LLC boosted its position in shares of AGCO by 2,493.5% in the first quarter. Acadian Asset Management LLC now owns 362,879 shares of the industrial products company’s stock valued at $49,046,000 after acquiring an additional 348,887 shares during the period. FIL Ltd boosted its position in shares of AGCO by 24.7% in the first quarter. FIL Ltd now owns 28,368 shares of the industrial products company’s stock valued at $3,835,000 after acquiring an additional 5,620 shares during the period. FMR LLC boosted its position in shares of AGCO by 10.7% in the first quarter. FMR LLC now owns 1,395,044 shares of the industrial products company’s stock valued at $188,610,000 after acquiring an additional 134,947 shares during the period. Cerity Partners LLC boosted its position in shares of AGCO by 140.6% in the first quarter. Cerity Partners LLC now owns 5,218 shares of the industrial products company’s stock valued at $705,000 after acquiring an additional 3,049 shares during the period. Finally, ExodusPoint Capital Management LP raised its stake in AGCO by 41.5% in the first quarter. ExodusPoint Capital Management LP now owns 50,957 shares of the industrial products company’s stock valued at $6,889,000 after purchasing an additional 14,942 shares in the last quarter. 75.39% of the stock is currently owned by institutional investors.
Analyst Upgrades and Downgrades
A number of brokerages recently weighed in on AGCO. StockNews.com began coverage on shares of AGCO in a research note on Thursday, August 17th. They issued a “buy” rating on the stock. Citigroup raised their target price on shares of AGCO from $150.00 to $152.00 and gave the company a “buy” rating in a research note on Tuesday, August 1st. Finally, Oppenheimer lowered their target price on shares of AGCO from $158.00 to $153.00 and set an “outperform” rating on the stock in a research note on Friday, July 28th. Three investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $154.64.
AGCO Trading Down 2.2 %
AGCO stock opened at $126.03 on Friday. The company has a debt-to-equity ratio of 0.49, a quick ratio of 0.68 and a current ratio of 1.57. AGCO Co. has a one year low of $93.53 and a one year high of $145.53. The company’s 50 day moving average price is $129.63 and its two-hundred day moving average price is $127.81. The company has a market capitalization of $9.44 billion, a PE ratio of 8.50, a price-to-earnings-growth ratio of 0.91 and a beta of 1.38.
AGCO (NYSE:AGCO – Get Free Report) last issued its earnings results on Thursday, July 27th. The industrial products company reported $4.29 EPS for the quarter, topping the consensus estimate of $3.72 by $0.57. The company had revenue of $3.80 billion for the quarter, compared to the consensus estimate of $3.69 billion. AGCO had a net margin of 7.84% and a return on equity of 29.56%. The firm’s revenue for the quarter was up 29.0% on a year-over-year basis. During the same period in the previous year, the firm earned $2.38 earnings per share. As a group, analysts predict that AGCO Co. will post 15.19 earnings per share for the current fiscal year.
AGCO Announces Dividend
The business also recently declared a quarterly dividend, which will be paid on Friday, September 15th. Investors of record on Tuesday, August 15th will be issued a $0.29 dividend. This represents a $1.16 annualized dividend and a yield of 0.92%. The ex-dividend date of this dividend is Monday, August 14th. AGCO’s dividend payout ratio (DPR) is currently 7.82%.
AGCO Corporation manufactures and distributes agricultural equipment and related replacement parts worldwide. It offers horsepower tractors for row crop production, soil cultivation, planting, land leveling, seeding, and commercial hay operations; utility tractors for small- and medium-sized farms, as well as for dairy, livestock, orchards, and vineyards; and compact tractors for small farms, specialty agricultural industries, landscaping, equestrian, and residential uses.
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