Guggenheim Capital LLC Increases Holding in AGCO Co. (AGCO)

Guggenheim Capital LLC Increases Holding in AGCO Co. (AGCO)

Guggenheim Capital LLC raised its stake in shares of AGCO Co. (NYSE:AGCO) by 20.5% during the fourth quarter, Holdings Channel reports. The firm owned 64,121 shares of the company’s stock after buying an additional 10,917 shares during the period. Guggenheim Capital LLC’s holdings in AGCO were worth $3,710,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in AGCO. Dimensional Fund Advisors LP raised its position in AGCO by 1.2% in the fourth quarter. Dimensional Fund Advisors LP now owns 2,744,493 shares of the company’s stock worth $158,800,000 after buying an additional 31,738 shares during the last quarter. BlackRock Fund Advisors raised its position in AGCO by 0.8% in the third quarter. BlackRock Fund Advisors now owns 2,594,823 shares of the company’s stock worth $127,977,000 after buying an additional 21,735 shares during the last quarter. FMR LLC raised its position in AGCO by 25.8% in the fourth quarter. FMR LLC now owns 2,004,163 shares of the company’s stock worth $115,961,000 after buying an additional 411,063 shares during the last quarter. Morgan Stanley raised its position in AGCO by 30.1% in the third quarter. Morgan Stanley now owns 1,633,504 shares of the company’s stock worth $80,563,000 after buying an additional 377,999 shares during the last quarter. Finally, Bank of New York Mellon Corp raised its position in AGCO by 1.9% in the third quarter. Bank of New York Mellon Corp now owns 1,153,482 shares of the company’s stock worth $56,889,000 after buying an additional 21,004 shares during the last quarter. Institutional investors own 88.20% of the company’s stock.

AGCO Co. (NYSE:AGCO) opened at 59.59 on Wednesday. AGCO Co. has a 12-month low of $44.68 and a 12-month high of $64.90. The stock has a market cap of $4.73 billion, a P/E ratio of 30.40 and a beta of 1.00. The stock has a 50 day moving average of $62.04 and a 200 day moving average of $56.15.

AGCO (NYSE:AGCO) last posted its quarterly earnings results on Tuesday, February 7th. The company reported $0.84 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.71 by $0.13. AGCO had a net margin of 2.16% and a return on equity of 6.88%. The company earned $2.10 billion during the quarter, compared to analyst estimates of $1.94 billion. During the same period last year, the firm posted $0.80 EPS. AGCO’s revenue for the quarter was up 6.9% compared to the same quarter last year. On average, equities research analysts anticipate that AGCO Co. will post $2.49 earnings per share for the current fiscal year.

The firm also recently declared a quarterly dividend, which was paid on Wednesday, March 15th. Shareholders of record on Wednesday, February 15th were given a dividend of $0.14 per share. The ex-dividend date of this dividend was Monday, February 13th. This is a positive change from AGCO’s previous quarterly dividend of $0.13. This represents a $0.56 dividend on an annualized basis and a yield of 0.94%. AGCO’s dividend payout ratio (DPR) is currently 28.43%.

A number of equities analysts have weighed in on AGCO shares. Vertical Research lowered shares of AGCO from a “hold” rating to a “sell” rating in a research report on Friday, January 6th. Barclays PLC reiterated an “equal weight” rating and issued a $58.00 price target (up from $54.00) on shares of AGCO in a research report on Wednesday, February 8th. Deutsche Bank AG upgraded shares of AGCO from a “hold” rating to a “buy” rating and set a $68.00 price target for the company in a research report on Wednesday, January 4th. Piper Jaffray Companies upped their price target on shares of AGCO from $56.00 to $60.00 and gave the stock a “neutral” rating in a research report on Wednesday, February 8th. Finally, Zacks Investment Research lowered shares of AGCO from a “buy” rating to a “hold” rating in a research report on Monday, February 20th. Three investment analysts have rated the stock with a sell rating, nine have assigned a hold rating and three have given a buy rating to the company. AGCO currently has an average rating of “Hold” and a consensus price target of $56.00.

In other AGCO news, SVP Robert B. Crain sold 1,500 shares of the firm’s stock in a transaction that occurred on Friday, February 24th. The shares were sold at an average price of $61.35, for a total transaction of $92,025.00. Following the completion of the transaction, the senior vice president now directly owns 71,584 shares of the company’s stock, valued at approximately $4,391,678.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 16.00% of the company’s stock.

AGCO Company Profile

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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