First Quadrant L P CA grew its stake in AGCO Co. (NYSE:AGCO) by 45.5% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 88,746 shares of the industrial products company’s stock after acquiring an additional 27,751 shares during the period. First Quadrant L P CA owned 0.12% of AGCO worth $6,884,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors also recently made changes to their positions in the company. Investors Research Corp bought a new position in shares of AGCO in the 1st quarter valued at about $94,000. Quadrant Capital Group LLC grew its holdings in shares of AGCO by 83.7% in the 1st quarter. Quadrant Capital Group LLC now owns 1,488 shares of the industrial products company’s stock valued at $97,000 after acquiring an additional 678 shares in the last quarter. Private Capital Group LLC grew its holdings in shares of AGCO by 51.3% in the 1st quarter. Private Capital Group LLC now owns 1,652 shares of the industrial products company’s stock valued at $115,000 after acquiring an additional 560 shares in the last quarter. CIBC Asset Management Inc bought a new position in shares of AGCO in the 1st quarter valued at about $203,000. Finally, Algert Global LLC bought a new position in shares of AGCO in the 1st quarter valued at about $244,000. Institutional investors own 80.70% of the company’s stock.
NYSE:AGCO traded down $0.99 during mid-day trading on Friday, hitting $73.18. The stock had a trading volume of 620,624 shares, compared to its average volume of 645,300. AGCO Co. has a twelve month low of $49.50 and a twelve month high of $80.64. The firm has a market cap of $5.70 billion, a PE ratio of 18.81, a price-to-earnings-growth ratio of 1.09 and a beta of 0.94. The stock has a 50 day simple moving average of $76.11. The company has a debt-to-equity ratio of 0.47, a quick ratio of 0.54 and a current ratio of 1.29.
The business also recently disclosed a quarterly dividend, which will be paid on Monday, September 16th. Shareholders of record on Thursday, August 15th will be given a dividend of $0.16 per share. The ex-dividend date is Wednesday, August 14th. This represents a $0.64 annualized dividend and a yield of 0.87%. AGCO’s dividend payout ratio (DPR) is presently 16.45%.
Several equities analysts have recently weighed in on the company. Stifel Nicolaus set a $79.00 price objective on AGCO and gave the company a “hold” rating in a report on Wednesday. OTR Global upgraded shares of AGCO to a “positive” rating in a research note on Friday, July 12th. Credit Suisse Group reiterated a “neutral” rating and issued a $83.00 target price (up from $70.00) on shares of AGCO in a research note on Wednesday. Deutsche Bank set a $88.00 target price on shares of AGCO and gave the company a “buy” rating in a research note on Wednesday. Finally, UBS Group raised their target price on shares of AGCO from $65.00 to $75.00 and gave the company a “neutral” rating in a research note on Tuesday, May 7th. Two investment analysts have rated the stock with a sell rating, nine have assigned a hold rating and six have issued a buy rating to the stock. AGCO presently has a consensus rating of “Hold” and an average price target of $76.86.
In other AGCO news, SVP Robert B. Crain sold 25,000 shares of the firm’s stock in a transaction that occurred on Tuesday, May 7th. The shares were sold at an average price of $72.86, for a total transaction of $1,821,500.00. Following the completion of the sale, the senior vice president now directly owns 81,914 shares in the company, valued at $5,968,254.04. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Chairman Martin Richenhagen sold 51,000 shares of the firm’s stock in a transaction that occurred on Monday, May 13th. The stock was sold at an average price of $70.43, for a total transaction of $3,591,930.00. Following the sale, the chairman now owns 503,733 shares of the company’s stock, valued at $35,477,915.19. The disclosure for this sale can be found here. Insiders have sold 172,000 shares of company stock valued at $12,536,330 over the last 90 days. Company insiders own 17.60% of the company’s stock.
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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