First Dallas Securities Inc. acquired a new stake in shares of Agco Corp. (NYSE:AGCO) during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 5,700 shares of the company’s stock, valued at approximately $269,000.
A number of other large investors also recently added to or reduced their stakes in the stock. Seven Eight Capital LLC bought a new stake in Agco Corp. during the first quarter valued at about $226,000. Huntington Asset Advisors Inc. acquired a new stake in shares of Agco Corp. during the first quarter valued at $231,000. Boston Advisors LLC acquired a new stake in shares of Agco Corp. during the second quarter valued at $241,000. Dalton Greiner Hartman Maher & Co. acquired a new stake in shares of Agco Corp. during the second quarter valued at $276,000. Finally, Springbok Capital Management LLC boosted its stake in shares of Agco Corp. by 34.0% in the first quarter. Springbok Capital Management LLC now owns 6,700 shares of the company’s stock valued at $333,000 after buying an additional 1,700 shares during the last quarter. 88.67% of the stock is owned by institutional investors.
Agco Corp. (NYSE:AGCO) traded up 1.97% during mid-day trading on Wednesday, hitting $47.72. 794,339 shares of the stock were exchanged. The company has a 50 day moving average price of $47.80 and a 200 day moving average price of $49.85. The firm has a market cap of $3.87 billion, a price-to-earnings ratio of 21.45 and a beta of 1.44. Agco Corp. has a 52-week low of $41.91 and a 52-week high of $56.00.
Agco Corp. (NYSE:AGCO) last announced its earnings results on Thursday, August 4th. The company reported $1.02 EPS for the quarter, beating analysts’ consensus estimates of $0.92 by $0.10. The business had revenue of $2 billion for the quarter, compared to analysts’ expectations of $1.88 billion. Agco Corp. had a net margin of 2.58% and a return on equity of 7.72%. The company’s quarterly revenue was down 3.6% on a year-over-year basis. During the same period in the previous year, the company posted $1.25 EPS. On average, analysts anticipate that Agco Corp. will post $2.31 EPS for the current year.
The firm also recently announced a quarterly dividend, which was paid on Thursday, September 15th. Stockholders of record on Monday, August 15th were issued a $0.13 dividend. The ex-dividend date of this dividend was Thursday, August 11th. This represents a $0.52 dividend on an annualized basis and a dividend yield of 1.09%. Agco Corp.’s payout ratio is 23.64%.
Several brokerages have recently weighed in on AGCO. Morgan Stanley set a $54.00 price target on shares of Agco Corp. and gave the stock a “hold” rating in a research report on Saturday, September 17th. Deutsche Bank AG began coverage on shares of Agco Corp. in a research report on Tuesday, September 6th. They issued a “hold” rating and a $54.00 price target for the company. Credit Suisse Group AG reaffirmed a “hold” rating and issued a $53.00 price target on shares of Agco Corp. in a research report on Tuesday, August 30th. Piper Jaffray Cos. lowered their price target on shares of Agco Corp. from $47.00 to $44.00 and set a “neutral” rating for the company in a research report on Thursday, August 25th. Finally, Jefferies Group reaffirmed a “buy” rating on shares of Agco Corp. in a research report on Friday, August 5th. Four analysts have rated the stock with a sell rating, ten have given a hold rating and one has given a buy rating to the stock. Agco Corp. currently has a consensus rating of “Hold” and a consensus target price of $47.92.
Agco Corp. 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.
Want to see what other hedge funds are holding AGCO? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Agco Corp. (NYSE:AGCO).
Receive News & Ratings for Agco Corp. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Agco Corp. and related companies with MarketBeat.com's FREE daily email newsletter.