AGCO Co. (NYSE:AGCO) – Research analysts at Jefferies Financial Group raised their Q2 2019 EPS estimates for AGCO in a research note issued on Thursday, May 2nd, Zacks Investment Research reports. Jefferies Financial Group analyst S. Volkmann now anticipates that the industrial products company will post earnings per share of $1.65 for the quarter, up from their previous estimate of $1.60. Jefferies Financial Group also issued estimates for AGCO’s Q4 2019 earnings at $1.44 EPS.
Other analysts have also recently issued research reports about the stock. UBS Group increased their price target on shares of AGCO from $65.00 to $75.00 and gave the company a “neutral” rating in a research note on Tuesday, May 7th. Morgan Stanley set a $60.00 price target on shares of AGCO and gave the company a “sell” rating in a research note on Friday, May 3rd. ValuEngine cut shares of AGCO from a “buy” rating to a “hold” rating in a research note on Saturday, May 18th. Royal Bank of Canada increased their price target on shares of AGCO to $86.00 and gave the company an “outperform” rating in a research note on Tuesday, May 7th. Finally, Zacks Investment Research upgraded shares of AGCO from a “hold” rating to a “buy” rating and set a $80.00 price target for the company in a research note on Tuesday, April 16th. Two research analysts have rated the stock with a sell rating, seven have assigned a hold rating and six have given a buy rating to the company. The company currently has a consensus rating of “Hold” and an average price target of $71.50.
AGCO (NYSE:AGCO) last announced its earnings results on Thursday, May 2nd. The industrial products company reported $0.86 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.42 by $0.44. AGCO had a net margin of 3.49% and a return on equity of 11.62%. The business had revenue of $2 billion during the quarter, compared to analysts’ expectations of $1.96 billion. During the same quarter in the prior year, the company posted $0.30 earnings per share. The firm’s revenue was down .6% on a year-over-year basis.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, June 14th. Stockholders of record on Wednesday, May 15th will be given a $0.16 dividend. The ex-dividend date of this dividend is Tuesday, May 14th. This is a positive change from AGCO’s previous quarterly dividend of $0.15. This represents a $0.64 annualized dividend and a dividend yield of 0.95%. AGCO’s dividend payout ratio is presently 16.45%.
In other news, SVP Robert B. Crain sold 25,000 shares of the stock in a transaction dated Tuesday, May 7th. The shares were sold at an average price of $72.86, for a total value of $1,821,500.00. Following the transaction, the senior vice president now directly owns 81,914 shares of the company’s stock, valued at $5,968,254.04. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Chairman Martin Richenhagen sold 51,000 shares of the stock in a transaction dated Monday, April 15th. The shares were sold at an average price of $71.47, for a total transaction of $3,644,970.00. Following the completion of the transaction, the chairman now directly owns 495,279 shares in the company, valued at $35,397,590.13. The disclosure for this sale can be found here. Insiders sold 229,000 shares of company stock worth $16,217,780 over the last three months. Insiders own 17.60% of the company’s stock.
A number of large investors have recently added to or reduced their stakes in the stock. Oregon Public Employees Retirement Fund increased its position in AGCO by 2,214.3% during the fourth quarter. Oregon Public Employees Retirement Fund now owns 1,742,527 shares of the industrial products company’s stock worth $31,000 after acquiring an additional 1,667,232 shares during the period. Cresset Asset Management LLC bought a new position in AGCO during the first quarter worth about $32,000. Bronfman E.L. Rothschild L.P. increased its position in AGCO by 116.6% during the fourth quarter. Bronfman E.L. Rothschild L.P. now owns 771 shares of the industrial products company’s stock worth $43,000 after acquiring an additional 415 shares during the period. JOYN Advisors Inc. increased its position in AGCO by 109.5% during the fourth quarter. JOYN Advisors Inc. now owns 857 shares of the industrial products company’s stock worth $48,000 after acquiring an additional 448 shares during the period. Finally, Private Capital Group LLC increased its position in AGCO by 20.1% during the fourth quarter. Private Capital Group LLC now owns 1,092 shares of the industrial products company’s stock worth $61,000 after acquiring an additional 183 shares during the period. 80.88% of the stock is currently owned by institutional investors and hedge funds.
AGCO Company Profile
AGCO Corporation manufactures and distributes agricultural equipment and related replacement parts worldwide. The company offers high horsepower tractors for larger farms, primarily for row crop production; 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, and residential uses.
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