Nordea Investment Management AB raised its stake in shares of AGCO Co. (NYSE:AGCO) by 11.9% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 451,082 shares of the industrial products company’s stock after buying an additional 48,107 shares during the quarter. Nordea Investment Management AB owned about 0.58% of AGCO worth $25,111,000 at the end of the most recent reporting period.
Other hedge funds also recently bought and sold shares of the company. Bronfman E.L. Rothschild L.P. boosted its stake in 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 worth $43,000 after buying an additional 415 shares in the last quarter. JOYN Advisors Inc. lifted its position in AGCO by 109.5% in the fourth quarter. JOYN Advisors Inc. now owns 857 shares of the industrial products company’s stock valued at $48,000 after purchasing an additional 448 shares during the last quarter. 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 purchasing an additional 183 shares during the last quarter. SRS Capital Advisors Inc. lifted its position in AGCO by 183.6% in the fourth quarter. SRS Capital Advisors Inc. now owns 1,126 shares of the industrial products company’s stock valued at $63,000 after purchasing an additional 729 shares during the last quarter. Finally, Cerebellum GP LLC bought a new stake in AGCO in the fourth quarter valued at approximately $136,000. 84.15% of the stock is owned by institutional investors and hedge funds.
In other news, VP Gary L. Collar sold 5,000 shares of the stock in a transaction on Friday, February 15th. The stock was sold at an average price of $64.44, for a total value of $322,200.00. Following the sale, the vice president now directly owns 81,401 shares of the company’s stock, valued at $5,245,480.44. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Chairman Martin Richenhagen sold 51,000 shares of the stock in a transaction on Monday, April 15th. The stock was sold at an average price of $71.47, for a total value of $3,644,970.00. Following the completion of the sale, the chairman now directly owns 495,279 shares in the company, valued at $35,397,590.13. The disclosure for this sale can be found here. In the last quarter, insiders sold 173,300 shares of company stock valued at $12,143,601. 17.60% of the stock is owned by corporate insiders.
AGCO (NYSE:AGCO) last posted its quarterly earnings data on Tuesday, February 5th. The industrial products company reported $1.31 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.22 by $0.09. The business had revenue of $2.59 billion during the quarter, compared to the consensus estimate of $2.58 billion. AGCO had a return on equity of 10.27% and a net margin of 3.05%. The firm’s quarterly revenue was up 2.6% compared to the same quarter last year. During the same quarter in the prior year, the company earned $1.10 earnings per share. On average, analysts predict that AGCO Co. will post 4.67 EPS for the current year.
Several analysts have weighed in on the company. Royal Bank of Canada boosted their price objective on AGCO to $76.00 and gave the company a “positive” rating in a research report on Monday, March 25th. Zacks Investment Research upgraded AGCO from a “hold” rating to a “buy” rating and set a $80.00 price objective for the company in a research report on Tuesday, April 16th. Barclays downgraded AGCO from an “equal weight” rating to an “underweight” rating and lowered their price objective for the company from $64.00 to $63.00 in a research report on Wednesday, January 23rd. Credit Suisse Group reiterated a “hold” rating and issued a $63.00 price objective on shares of AGCO in a research report on Tuesday, January 22nd. Finally, OTR Global upgraded AGCO to a “positive” rating in a report on Friday, January 18th. Two research analysts have rated the stock with a sell rating, eight have assigned a hold rating and six have assigned a buy rating to the stock. The stock presently has a consensus rating of “Hold” and an average target price of $66.08.
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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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