AIA Group Ltd Acquires 3,345 Shares of AGCO Co. (NYSE:AGCO)

AIA Group Ltd raised its position in AGCO Co. (NYSE:AGCO) by 40.8% during the 1st quarter, Holdings Channel.com reports. The institutional investor owned 11,549 shares of the industrial products company’s stock after buying an additional 3,345 shares during the quarter. AIA Group Ltd’s holdings in AGCO were worth $1,421,000 at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of AGCO. Rakuten Securities Inc. acquired a new stake in shares of AGCO in the 4th quarter valued at approximately $26,000. FinTrust Capital Advisors LLC boosted its stake in shares of AGCO by 121.9% in the 1st quarter. FinTrust Capital Advisors LLC now owns 213 shares of the industrial products company’s stock valued at $26,000 after purchasing an additional 117 shares in the last quarter. Manchester Capital Management LLC boosted its stake in shares of AGCO by 93.2% in the 1st quarter. Manchester Capital Management LLC now owns 228 shares of the industrial products company’s stock valued at $28,000 after purchasing an additional 110 shares in the last quarter. Allworth Financial LP boosted its stake in shares of AGCO by 72.3% in the 4th quarter. Allworth Financial LP now owns 286 shares of the industrial products company’s stock valued at $35,000 after purchasing an additional 120 shares in the last quarter. Finally, American National Bank acquired a new stake in shares of AGCO in the 4th quarter valued at approximately $37,000. 78.80% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on the stock. The Goldman Sachs Group reduced their price target on shares of AGCO from $127.00 to $112.00 and set a “neutral” rating on the stock in a research note on Thursday. Citigroup started coverage on shares of AGCO in a research report on Wednesday, June 26th. They set a “neutral” rating and a $108.00 target price on the stock. Oppenheimer cut their target price on shares of AGCO from $145.00 to $133.00 and set an “outperform” rating on the stock in a research report on Wednesday, June 12th. Raymond James started coverage on shares of AGCO in a research report on Friday, June 28th. They set a “market perform” rating on the stock. Finally, JPMorgan Chase & Co. cut their target price on shares of AGCO from $135.00 to $130.00 and set an “overweight” rating on the stock in a research report on Friday, June 28th. Four analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $129.14.

AGCO Trading Up 0.9 %

Shares of NYSE AGCO traded up $0.85 during midday trading on Friday, reaching $98.05. The stock had a trading volume of 753,405 shares, compared to its average volume of 813,038. The firm has a market cap of $7.32 billion, a price-to-earnings ratio of 6.63, a price-to-earnings-growth ratio of 0.62 and a beta of 1.27. AGCO Co. has a twelve month low of $92.75 and a twelve month high of $140.46. The company has a debt-to-equity ratio of 0.72, a quick ratio of 1.09 and a current ratio of 1.99. The company’s 50 day moving average price is $104.41 and its 200 day moving average price is $112.83.

AGCO (NYSE:AGCO) last issued its quarterly earnings results on Monday, May 6th. The industrial products company reported $2.32 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.29 by $0.03. The firm had revenue of $2.93 billion for the quarter, compared to the consensus estimate of $2.99 billion. AGCO had a net margin of 7.90% and a return on equity of 24.02%. The company’s revenue for the quarter was down 12.1% on a year-over-year basis. During the same quarter in the previous year, the company earned $3.51 EPS. As a group, sell-side analysts expect that AGCO Co. will post 11.64 EPS for the current year.

AGCO Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, September 16th. Stockholders of record on Thursday, August 15th will be paid a $0.29 dividend. The ex-dividend date of this dividend is Thursday, August 15th. This represents a $1.16 annualized dividend and a dividend yield of 1.18%. AGCO’s dividend payout ratio is currently 7.85%.

AGCO Profile

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.