AGCO Corporation (AGCO) Position Lifted by Northwestern Mutual Investment Management Company LLC

Northwestern Mutual Investment Management Company LLC increased its position in AGCO Corporation (NYSE:AGCO) by 6.5% in the 2nd quarter, according to its most recent 13F filing with the SEC. The firm owned 12,247 shares of the industrial products company’s stock after buying an additional 746 shares during the period. Northwestern Mutual Investment Management Company LLC’s holdings in AGCO Corporation were worth $577,000 at the end of the most recent quarter.

A number of other institutional investors have also recently modified their holdings of the stock. BlackRock Inc. raised its position in shares of AGCO Corporation by 2,706.4% during the 1st quarter. BlackRock Inc. now owns 6,529,374 shares of the industrial products company’s stock valued at $392,938,000 after buying an additional 6,296,716 shares in the last quarter. Victory Capital Management Inc. purchased a new stake in shares of AGCO Corporation during the 1st quarter valued at about $104,317,000. Vanguard Group Inc. raised its position in shares of AGCO Corporation by 4.3% during the 1st quarter. Vanguard Group Inc. now owns 5,646,479 shares of the industrial products company’s stock valued at $339,804,000 after buying an additional 232,091 shares in the last quarter. Canada Pension Plan Investment Board raised its position in shares of AGCO Corporation by 48.1% during the 2nd quarter. Canada Pension Plan Investment Board now owns 699,503 shares of the industrial products company’s stock valued at $47,140,000 after buying an additional 227,300 shares in the last quarter. Finally, Barings LLC raised its position in shares of AGCO Corporation by 436.7% during the 1st quarter. Barings LLC now owns 216,636 shares of the industrial products company’s stock valued at $13,037,000 after buying an additional 176,270 shares in the last quarter. 80.68% of the stock is owned by institutional investors.

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AGCO has been the topic of a number of research analyst reports. UBS AG upgraded shares of AGCO Corporation from a “sell” rating to a “neutral” rating and upped their target price for the stock from $52.00 to $68.00 in a research note on Wednesday, June 21st. Piper Jaffray Companies set a $66.00 target price on shares of AGCO Corporation and gave the stock a “hold” rating in a research note on Wednesday, August 9th. BidaskClub downgraded shares of AGCO Corporation from a “buy” rating to a “hold” rating in a research note on Wednesday, August 9th. BMO Capital Markets upped their target price on shares of AGCO Corporation from $70.00 to $75.00 and gave the stock a “market perform” rating in a research note on Tuesday, August 1st. Finally, Jefferies Group LLC restated a “hold” rating and issued a $61.00 target price on shares of AGCO Corporation in a research note on Wednesday, May 31st. Two research analysts have rated the stock with a sell rating, thirteen have issued a hold rating and five have given a buy rating to the stock. The stock has a consensus rating of “Hold” and an average target price of $65.73.

AGCO Corporation (NYSE AGCO) opened at 68.96 on Tuesday. The firm has a 50 day moving average of $69.46 and a 200-day moving average of $65.19. AGCO Corporation has a 12-month low of $46.22 and a 12-month high of $73.97. The stock has a market cap of $5.49 billion, a PE ratio of 30.15 and a beta of 0.88.

AGCO Corporation (NYSE:AGCO) last announced its quarterly earnings data on Thursday, July 27th. The industrial products company reported $1.15 EPS for the quarter, topping the Zacks’ consensus estimate of $1.04 by $0.11. The company had revenue of $2.17 billion during the quarter, compared to the consensus estimate of $2.08 billion. AGCO Corporation had a net margin of 2.40% and a return on equity of 6.84%. AGCO Corporation’s quarterly revenue was up 8.5% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.25 EPS. On average, analysts expect that AGCO Corporation will post $3.06 earnings per share for the current year.

The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 15th. Shareholders of record on Tuesday, August 15th will be given a dividend of $0.14 per share. The ex-dividend date is Friday, August 11th. This represents a $0.56 dividend on an annualized basis and a yield of 0.81%. AGCO Corporation’s payout ratio is currently 24.56%.

In other news, CFO Andrew H. Beck sold 10,000 shares of the stock in a transaction dated Friday, August 4th. The shares were sold at an average price of $72.18, for a total value of $721,800.00. Following the completion of the transaction, the chief financial officer now owns 142,079 shares in the company, valued at approximately $10,255,262.22. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Lucinda B. Smith sold 1,000 shares of the stock in a transaction dated Tuesday, August 8th. The shares were sold at an average price of $73.00, for a total transaction of $73,000.00. Following the completion of the transaction, the senior vice president now owns 38,877 shares of the company’s stock, valued at approximately $2,838,021. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 26,750 shares of company stock valued at $1,921,390. 16.60% of the stock is owned by insiders.

AGCO Corporation Profile

AGCO Corporation is a manufacturer and distributor of agricultural equipment and related replacement parts. The Company sells a range of agricultural equipment, including tractors, combines, self-propelled sprayers, hay tools, forage equipment, seeding and tillage equipment, implements, and grain storage and protein production systems.

Institutional Ownership by Quarter for AGCO Corporation (NYSE:AGCO)

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