Insider Trading: AGCO Co. (NYSE: AGCO) Director Sells 1,500 Shares
On Nov. 16, AGCO Co. (NYSE: AGCO) Director George E. Minnich completed a transaction that sold 1,500 shares of the company. At an average price of $123.70 per share, the shares were able to earn a total of $185,500.00 after being sold. As a result of the transaction, the director now owns 12,543 shares of the company, which are currently valued at approximately $1,551,669. 10 This information about the transaction was included in a filing with the SEC, which can be found at following this link.
AGCO’s (NYSE: AGCO) latest quarterly earnings report was released on November 1, which is a Tuesday. Earnings per share for the quarter were reported by the company that makes industrial items at $3.18, up $0.06 from the $3.12 forecast by analysts. AGCO’s return on equity was 23.61% and the company had a net margin of 7.13%. Revenue for the quarter was $3.10 billion, lower than analysts’ expectation of $3.30 billion. During the same period a year earlier, the company generated earnings of $2.41 per share. Revenue growth for the third quarter was 13.8% higher than the same period last year. According to analysts’ projections, AGCO Co. will bring earnings of 11.86 cents per share for the current fiscal year.
Additionally, the company announced a quarterly dividend, which will be distributed the following Thursday, December 15. On Tuesday, November 15, registered shareholders will be eligible to receive dividend payments equivalent to $0.24 per share. This translates into a dividend payout of $0.96 per year and a yield of 0.78%. The date which constitutes the ex-dividend date for this dividend is 14 November. The payout ratio for AGCO is currently 8.47%.
The price of NYSE:AGCO fell $0.72 on Friday, hitting $123.04. Out of a total volume of 592,193, the company’s shares were traded 11,196 times. The company’s simple moving average for the last 50 days is $111.68 and the simple moving average for the last 200 days is $111.35. A quick ratio of 0.66, a current ratio of 1.58 and a debt ratio of 0.52 are all values that can be found in the formula. The one-year low for AGCO Co. is $88.55, while the one-year high for the company’s shares is $150.28. The company has a market capitalization of $9.18 billion, a price-to-earnings ratio of 10.86, a growth price-to-earnings ratio of 1.08 and a beta of 1.44. All of these metrics indicate that the stock is relatively expensive.
There have been a few different research articles written on AGCO. Deutsche Bank Aktiengesellschaft lowered its target price on AGCO shares in a report released on Wednesday, November 2. The new price is $129.00, down from $137.00. Citigroup raised its price target for AGCO to $125.00, as shown in research released Tuesday, August 9. Wednesday, November 2. AGCO’s coverage was echoed by Robert W. Baird in a report published September 27. They suggested an “outperform” rating for the stock and a price target of $156.00 for the stock price.
Last but not least, in a research note published on Wednesday, September 28, Stifel Nicolaus lowered his price target on AGCO shares from $170.00 to $150.00 while maintaining his “buy” rating. The recommendations of four financial analysts are to maintain a hold position, while eight analysts recommend buying the stock. According to Bloomberg.com, the stock is rated as having a “moderate buy” consensus and the price target is rated as having a consensus of $140.25.
Recent events have resulted in an increase or decrease in significant investor interest in the company. River & Mercantile Asset Management LLP increased the percentage of AGCO shares held by 1% during the third quarter. Following the acquisition of an additional 560 shares in the previous quarter, River & Mercantile Asset Management LLP now owns 59,051 shares of the industrial goods company, worth $5,687,000. The number of shares held by Captrust Financial Advisors in AGCO increased by 42.5% during the third quarter. Following the acquisition of 913 additional shares in the previous quarter, Captrust Financial Advisors now owns a total of 3,059 shares of stock in the industrial goods business. The current value of these shares is $294,000. The purchase of a new stake in AGCO by Balyasny Asset Management LLC cost the company $42,196,000 during the third quarter. During the third quarter, Covington Capital Management saw a 227.5% growth in the size of its stake in AGCO. Following the purchase of 262 additional shares in the previous quarter, Covington Capital Management now owns a total of 377 shares of the industrial products company, which is currently valued at $36,000.
Finally, State Street Corporation added an additional 1.3% of AGCO shares to its portfolio during the third quarter. After making other purchases throughout the period, State Street Corp. currently owns 1,711,193 shares of the industrial products company. The current market value of these shares is equal to $164,565,000. Institutional investors hold 74.94% of the company’s shares.
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