BNP Paribas Arbitrage SA grew its stake in shares of AGCO Corporation (NYSE:AGCO) by 29.6% in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 139,589 shares of the industrial products company’s stock after purchasing an additional 31,880 shares during the quarter. BNP Paribas Arbitrage SA owned approximately 0.18% of AGCO Corporation worth $10,297,000 at the end of the most recent quarter.
Several other large investors also recently added to or reduced their stakes in AGCO. Victory Capital Management Inc. boosted its stake in shares of AGCO Corporation by 50.0% during the second quarter. Victory Capital Management Inc. now owns 2,600,116 shares of the industrial products company’s stock valued at $175,222,000 after purchasing an additional 866,708 shares during the period. FMR LLC boosted its stake in shares of AGCO Corporation by 23.6% during the second quarter. FMR LLC now owns 1,606,000 shares of the industrial products company’s stock valued at $108,228,000 after purchasing an additional 306,505 shares during the period. Old Mutual Global Investors UK Ltd. purchased a new stake in shares of AGCO Corporation during the third quarter valued at approximately $17,343,000. Canada Pension Plan Investment Board boosted its stake in shares of AGCO Corporation by 48.1% during the second quarter. Canada Pension Plan Investment Board now owns 699,503 shares of the industrial products company’s stock valued at $47,140,000 after purchasing an additional 227,300 shares during the period. Finally, JPMorgan Chase & Co. boosted its stake in shares of AGCO Corporation by 44.9% during the second quarter. JPMorgan Chase & Co. now owns 519,596 shares of the industrial products company’s stock valued at $35,016,000 after purchasing an additional 161,023 shares during the period. 80.88% of the stock is owned by hedge funds and other institutional investors.
AGCO has been the subject of a number of recent analyst reports. Jefferies Group LLC restated a “hold” rating and set a $75.00 target price on shares of AGCO Corporation in a report on Thursday, August 31st. BidaskClub upgraded AGCO Corporation from a “hold” rating to a “buy” rating in a report on Thursday, September 28th. Piper Jaffray Companies restated a “hold” rating and set a $66.00 target price on shares of AGCO Corporation in a report on Thursday, October 19th. UBS AG restated a “neutral” rating and set a $73.00 target price (up previously from $68.00) on shares of AGCO Corporation in a report on Monday, July 31st. Finally, BMO Capital Markets upped their target price on AGCO Corporation from $70.00 to $75.00 and gave the company a “market perform” rating in a report on Tuesday, August 1st. Three investment analysts have rated the stock with a sell rating, twelve have issued a hold rating and three have issued a buy rating to the company’s stock. The company currently has an average rating of “Hold” and an average target price of $69.07.
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AGCO Corporation (NYSE:AGCO) last posted its quarterly earnings data on Tuesday, October 31st. The industrial products company reported $0.79 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.72 by $0.07. The business had revenue of $1.99 billion during the quarter, compared to the consensus estimate of $1.92 billion. AGCO Corporation had a return on equity of 7.50% and a net margin of 2.59%. The firm’s quarterly revenue was up 12.8% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.51 earnings per share. sell-side analysts predict that AGCO Corporation will post 3.02 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 15th. Shareholders of record on Wednesday, November 15th will be issued a $0.14 dividend. The ex-dividend date of this dividend is Tuesday, November 14th. This represents a $0.56 dividend on an annualized basis and a yield of 0.84%. AGCO Corporation’s dividend payout ratio (DPR) is 22.05%.
In other AGCO Corporation news, SVP Hans Bernd Veltmaat sold 750 shares of the stock in a transaction on Tuesday, August 29th. The stock was sold at an average price of $66.52, for a total value of $49,890.00. Following the completion of the transaction, the senior vice president now owns 68,552 shares in the company, valued at $4,560,079.04. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. 16.60% of the stock is currently owned by corporate 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.
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