Principal Financial Group Inc. raised its stake in shares of Agco Corp. (NYSE:AGCO) by 11.9% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 267,581 shares of the company’s stock after buying an additional 28,560 shares during the period. Principal Financial Group Inc. owned 0.33% of Agco Corp. worth $12,611,000 as of its most recent filing with the SEC.
A number of other institutional investors have also bought and sold shares of the stock. Dimensional Fund Advisors LP increased its stake in shares of Agco Corp. by 1.9% in the second quarter. Dimensional Fund Advisors LP now owns 2,648,293 shares of the company’s stock worth $124,809,000 after buying an additional 49,498 shares during the period. 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. Impax Asset Management LTD increased its stake in shares of Agco Corp. by 58.6% in the second quarter. Impax Asset Management LTD now owns 68,980 shares of the company’s stock worth $3,251,000 after buying an additional 25,500 shares during the period. Victory Capital Management Inc. increased its stake in shares of Agco Corp. by 5.6% in the second quarter. Victory Capital Management Inc. now owns 12,384 shares of the company’s stock worth $584,000 after buying an additional 655 shares during the period. Finally, Nationwide Fund Advisors increased its stake in shares of Agco Corp. by 2.3% in the second quarter. Nationwide Fund Advisors now owns 131,886 shares of the company’s stock worth $6,216,000 after buying an additional 2,969 shares during the period. Hedge funds and other institutional investors own 88.67% of the company’s stock.
Shares of Agco Corp. (NYSE:AGCO) opened at 52.03 on Tuesday. The company has a 50 day moving average of $48.23 and a 200-day moving average of $49.73. The company has a market cap of $4.22 billion, a price-to-earnings ratio of 23.38 and a beta of 1.32. Agco Corp. has a 52 week low of $42.40 and a 52 week high of $56.00.
Agco Corp. (NYSE:AGCO) last posted its quarterly earnings data on Thursday, August 4th. The company reported $1.02 earnings per share for the quarter, beating the consensus estimate of $0.92 by $0.10. Agco Corp. had a return on equity of 7.72% and a net margin of 2.58%. The company earned $2 billion during the quarter, compared to analysts’ expectations of $1.88 billion. During the same period in the prior year, the business earned $1.25 earnings per share. Agco Corp.’s revenue for the quarter was down 3.6% compared to the same quarter last year. On average, equities research analysts expect that Agco Corp. will post $2.31 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which was paid on Thursday, September 15th. Stockholders of record on Monday, August 15th were given a $0.13 dividend. The ex-dividend date was Thursday, August 11th. This represents a $0.52 annualized dividend and a dividend yield of 1.00%. Agco Corp.’s dividend payout ratio is 23.64%.
A number of research firms have recently commented on AGCO. Zacks Investment Research raised shares of Agco Corp. from a “hold” rating to a “buy” rating and set a $59.00 target price on the stock in a research report on Tuesday, June 21st. JPMorgan Chase & Co. cut shares of Agco Corp. from a “neutral” rating to an “underweight” rating and reduced their target price for the stock from $47.00 to $44.00 in a research report on Monday, June 27th. Barclays PLC reissued an “equal weight” rating and set a $43.00 target price on shares of Agco Corp. in a research report on Tuesday, July 12th. Citigroup Inc. reduced their target price on shares of Agco Corp. from $55.00 to $53.00 and set a “neutral” rating on the stock in a research report on Friday, July 15th. Finally, Piper Jaffray Cos. cut shares of Agco Corp. from a “neutral” rating to an “underweight” rating and set a $37.00 target price on the stock. in a research report on Monday, July 25th. Three analysts have rated the stock with a sell rating, ten have assigned a hold rating and two have given a buy rating to the company. Agco Corp. presently has a consensus rating of “Hold” and a consensus price target of $48.75.
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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