DnB Asset Management AS held its stake in Agco Corp. (NYSE:AGCO) during the third quarter, according to its most recent disclosure with the SEC. The firm owned 13,736 shares of the company’s stock at the end of the third quarter. DnB Asset Management AS’s holdings in Agco Corp. were worth $273,000 as of its most recent SEC filing.
Several other hedge funds have also added to or reduced their stakes in the company. Creative Planning increased its stake in shares of Agco Corp. by 0.6% in the third quarter. Creative Planning now owns 11,434 shares of the company’s stock worth $564,000 after buying an additional 68 shares during the period. Calvert Investment Management Inc. increased its stake in shares of Agco Corp. by 2.7% in the second quarter. Calvert Investment Management Inc. now owns 5,702 shares of the company’s stock worth $269,000 after buying an additional 148 shares during the period. AGF Investments America Inc. increased its stake in shares of Agco Corp. by 0.4% in the third quarter. AGF Investments America Inc. now owns 45,431 shares of the company’s stock worth $2,241,000 after buying an additional 161 shares during the period. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. increased its stake in shares of Agco Corp. by 2.4% in the third quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 9,480 shares of the company’s stock worth $468,000 after buying an additional 222 shares during the period. Finally, Systematic Financial Management LP increased its stake in shares of Agco Corp. by 0.8% in the second quarter. Systematic Financial Management LP now owns 33,715 shares of the company’s stock worth $1,588,000 after buying an additional 255 shares during the period. Hedge funds and other institutional investors own 88.24% of the company’s stock.
Agco Corp. (NYSE:AGCO) traded up 0.97% during midday trading on Friday, reaching $62.28. 1,388,856 shares of the company traded hands. Agco Corp. has a 12 month low of $42.40 and a 12 month high of $62.29. The company’s 50-day moving average price is $58.61 and its 200 day moving average price is $51.50. The firm has a market capitalization of $5.00 billion, a PE ratio of 32.14 and a beta of 1.08.
Agco Corp. (NYSE:AGCO) last announced its quarterly earnings data on Wednesday, October 26th. The company reported $0.51 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.36 by $0.15. The company had revenue of $1.80 billion for the quarter, compared to analysts’ expectations of $1.33 billion. Agco Corp. had a net margin of 2.20% and a return on equity of 6.85%. Agco Corp.’s revenue was up 1.5% compared to the same quarter last year. During the same period in the previous year, the company posted $0.77 EPS. On average, equities analysts anticipate that Agco Corp. will post $2.35 earnings per share for the current year.
A number of analysts recently issued reports on the stock. Deutsche Bank AG raised shares of Agco Corp. from a “hold” rating to a “buy” rating and set a $68.00 price target on the stock in a report on Wednesday, January 4th. RBC Capital Markets reissued a “sector perform” rating and set a $55.00 price target (up from $50.00) on shares of Agco Corp. in a report on Monday, December 19th. Credit Suisse Group AG set a $55.00 price target on shares of Agco Corp. and gave the stock a “hold” rating in a report on Tuesday, December 20th. Royal Bank Of Canada increased their price target on shares of Agco Corp. from $50.00 to $55.00 and gave the stock a “sector perform” rating in a report on Monday, December 19th. Finally, Jefferies Group downgraded shares of Agco Corp. from a “buy” rating to a “hold” rating and set a $61.00 price target on the stock. in a report on Tuesday, December 13th. They noted that the move was a valuation call. Three equities research analysts have rated the stock with a sell rating, twelve have assigned a hold rating and two have assigned a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and an average price target of $52.57.
In related news, VP Gary L. Collar sold 2,309 shares of the stock in a transaction that occurred on Monday, November 14th. The shares were sold at an average price of $53.00, for a total transaction of $122,377.00. Following the completion of the sale, the vice president now owns 47,663 shares of the company’s stock, valued at approximately $2,526,139. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Corporate insiders own 16.00% of the company’s stock.
About Agco Corp.
AGCO Corporation is a manufacturer and distributor of agricultural equipment and related replacement parts around the world. The Company sells a range of agricultural equipment, including tractors, combines, self-propelled sprayers, hay tools, forage equipment, seeding and tillage, implements, and grain storage and protein production systems.
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