Polianta Ltd bought a new position in AGCO Co. (NYSE:AGCO – Free Report) in the second quarter, according to the company in its most recent 13F filing with the SEC. The firm bought 8,500 shares of the industrial products company’s stock, valued at approximately $1,117,000. AGCO comprises 0.5% of Polianta Ltd’s portfolio, making the stock its 28th largest position.
Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Raymond James Financial Services Advisors Inc. raised its stake in shares of AGCO by 21.4% during the 1st quarter. Raymond James Financial Services Advisors Inc. now owns 2,962 shares of the industrial products company’s stock valued at $433,000 after buying an additional 522 shares during the last quarter. Cambridge Investment Research Advisors Inc. purchased a new position in shares of AGCO during the 1st quarter valued at about $306,000. Acadian Asset Management LLC raised its stake in shares of AGCO by 118.1% during the 1st quarter. Acadian Asset Management LLC now owns 1,758 shares of the industrial products company’s stock valued at $256,000 after buying an additional 952 shares during the last quarter. Great West Life Assurance Co. Can raised its stake in shares of AGCO by 10.4% during the 1st quarter. Great West Life Assurance Co. Can now owns 36,347 shares of the industrial products company’s stock valued at $5,469,000 after buying an additional 3,425 shares during the last quarter. Finally, Raymond James Trust N.A. raised its stake in shares of AGCO by 3.6% during the 1st quarter. Raymond James Trust N.A. now owns 3,743 shares of the industrial products company’s stock valued at $547,000 after buying an additional 129 shares during the last quarter. Hedge funds and other institutional investors own 75.39% of the company’s stock.
AGCO Price Performance
NYSE:AGCO traded up $0.83 during trading hours on Thursday, hitting $118.38. 240,281 shares of the stock were exchanged, compared to its average volume of 629,717. AGCO Co. has a 52-week low of $93.81 and a 52-week high of $145.53. The firm’s fifty day moving average price is $125.78 and its 200 day moving average price is $125.77. The company has a current ratio of 1.57, a quick ratio of 0.68 and a debt-to-equity ratio of 0.49. The company has a market cap of $8.86 billion, a P/E ratio of 7.93, a P/E/G ratio of 0.81 and a beta of 1.38.
AGCO (NYSE:AGCO – Get Free Report) last posted its quarterly earnings data on Thursday, July 27th. The industrial products company reported $4.29 EPS for the quarter, topping the consensus estimate of $3.72 by $0.57. AGCO had a return on equity of 29.56% and a net margin of 7.84%. The company had revenue of $3.80 billion during the quarter, compared to analyst estimates of $3.69 billion. During the same period in the previous year, the business earned $2.38 EPS. AGCO’s quarterly revenue was up 29.0% on a year-over-year basis. As a group, equities research analysts anticipate that AGCO Co. will post 15.31 EPS for the current fiscal year.
AGCO Announces Dividend
The company also recently disclosed a quarterly dividend, which was paid on Friday, September 15th. Shareholders of record on Tuesday, August 15th were paid a dividend of $0.29 per share. The ex-dividend date of this dividend was Monday, August 14th. This represents a $1.16 annualized dividend and a yield of 0.98%. AGCO’s dividend payout ratio (DPR) is currently 7.82%.
Analysts Set New Price Targets
A number of equities analysts have weighed in on the company. Stifel Nicolaus reiterated a “buy” rating and set a $161.00 price objective on shares of AGCO in a research note on Tuesday. Oppenheimer reduced their price objective on AGCO from $158.00 to $153.00 and set an “outperform” rating for the company in a research note on Friday, July 28th. StockNews.com initiated coverage on AGCO in a report on Thursday, August 17th. They issued a “buy” rating for the company. Finally, Citigroup upped their price target on AGCO from $150.00 to $152.00 and gave the stock a “buy” rating in a report on Tuesday, August 1st. Three investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $154.27.
About AGCO
AGCO Corporation manufactures and distributes agricultural equipment and related replacement parts worldwide. It offers horsepower tractors for row crop production, soil cultivation, planting, land leveling, seeding, and commercial hay operations; utility tractors for small- and medium-sized farms, as well as for dairy, livestock, orchards, and vineyards; and compact tractors for small farms, specialty agricultural industries, landscaping, equestrian, and residential uses.