Paloma Partners Management Co purchased a new stake in AGCO Co. (NYSE:AGCO) during the fourth quarter, according to its most recent disclosure with the SEC. The firm purchased 12,671 shares of the industrial products company’s stock, valued at approximately $705,000.
Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Private Capital Group LLC lifted its position in AGCO by 20.1% in the fourth quarter. Private Capital Group LLC now owns 1,092 shares of the industrial products company’s stock valued at $61,000 after acquiring an additional 183 shares during the last quarter. Commonwealth Bank of Australia raised its holdings in shares of AGCO by 2.3% in the fourth quarter. Commonwealth Bank of Australia now owns 17,228 shares of the industrial products company’s stock valued at $955,000 after buying an additional 385 shares during the last quarter. Bronfman E.L. Rothschild L.P. raised its holdings in shares of AGCO by 116.6% in the fourth quarter. Bronfman E.L. Rothschild L.P. now owns 771 shares of the industrial products company’s stock valued at $43,000 after buying an additional 415 shares during the last quarter. JOYN Advisors Inc. increased its stake in shares of AGCO by 109.5% during the fourth quarter. JOYN Advisors Inc. now owns 857 shares of the industrial products company’s stock worth $48,000 after acquiring an additional 448 shares during the period. Finally, Advisors Asset Management Inc. increased its stake in shares of AGCO by 4.8% during the fourth quarter. Advisors Asset Management Inc. now owns 12,010 shares of the industrial products company’s stock worth $669,000 after acquiring an additional 555 shares during the period. 84.04% of the stock is currently owned by institutional investors and hedge funds.
NYSE:AGCO traded down $0.56 during trading hours on Monday, reaching $71.40. 533,900 shares of the company were exchanged, compared to its average volume of 613,517. The company has a quick ratio of 0.59, a current ratio of 1.28 and a debt-to-equity ratio of 0.43. The company has a market cap of $5.52 billion, a P/E ratio of 18.35, a P/E/G ratio of 1.06 and a beta of 0.89. AGCO Co. has a 52-week low of $49.50 and a 52-week high of $72.00.
In other AGCO news, Chairman Martin Richenhagen sold 102,000 shares of the firm’s stock in a transaction on Monday, April 1st. The shares were sold at an average price of $70.19, for a total transaction of $7,159,380.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, VP Gary L. Collar sold 5,000 shares of the firm’s stock in a transaction on Friday, February 15th. The stock was sold at an average price of $64.44, for a total transaction of $322,200.00. Following the transaction, the vice president now directly owns 81,401 shares of the company’s stock, valued at $5,245,480.44. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 122,300 shares of company stock valued at $8,498,631. Company insiders own 17.60% of the company’s stock.
A number of research analysts have recently issued reports on AGCO shares. Royal Bank of Canada boosted their price target on shares of AGCO to $76.00 and gave the stock a “positive” rating in a research note on Monday, March 25th. OTR Global upgraded shares of AGCO to a “positive” rating in a research report on Friday, January 18th. Deutsche Bank set a $76.00 target price on shares of AGCO and gave the stock a “buy” rating in a research report on Friday, March 8th. Barclays downgraded shares of AGCO from an “equal weight” rating to an “underweight” rating and reduced their price target for the company from $64.00 to $63.00 in a report on Wednesday, January 23rd. Finally, Credit Suisse Group reaffirmed a “hold” rating and issued a $63.00 price target on shares of AGCO in a report on Tuesday, January 22nd. Three analysts have rated the stock with a sell rating, eight have assigned a hold rating and five have assigned a buy rating to the company. The company currently has an average rating of “Hold” and an average target price of $65.08.
AGCO Corporation manufactures and distributes agricultural equipment and related replacement parts worldwide. The company offers high horsepower tractors for larger farms, primarily for row crop production; 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, and residential uses.
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