AGCO Co. (NYSE:AGCO) Shares Sold by Tweedy Browne Co LLC
Tweedy Browne Co LLC cut its position in AGCO Co. (NYSE:AGCO) by 90.6% during the second quarter, HoldingsChannel.com reports. The fund owned 61,058 shares of the industrial products company’s stock after selling 586,876 shares during the period. Tweedy Browne Co LLC’s holdings in AGCO were worth $4,736,000 at the end of the most recent reporting period.
Other large investors have also recently modified their holdings of the company. New York State Teachers Retirement System lifted its position in AGCO by 4.8% during the second quarter. New York State Teachers Retirement System now owns 94,887 shares of the industrial products company’s stock worth $7,360,000 after buying an additional 4,306 shares in the last quarter. BNP Paribas Arbitrage SA lifted its position in AGCO by 20.7% during the second quarter. BNP Paribas Arbitrage SA now owns 46,114 shares of the industrial products company’s stock worth $3,577,000 after buying an additional 7,921 shares in the last quarter. Gabelli Funds LLC lifted its position in AGCO by 11.1% during the first quarter. Gabelli Funds LLC now owns 15,000 shares of the industrial products company’s stock worth $1,043,000 after buying an additional 1,500 shares in the last quarter. Riverhead Capital Management LLC lifted its position in AGCO by 128.0% during the first quarter. Riverhead Capital Management LLC now owns 30,305 shares of the industrial products company’s stock worth $2,108,000 after buying an additional 17,014 shares in the last quarter. Finally, DNB Asset Management AS purchased a new position in AGCO during the second quarter worth approximately $1,606,000. 80.74% of the stock is currently owned by hedge funds and other institutional investors.
In other news, Chairman Martin Richenhagen sold 45,000 shares of AGCO stock in a transaction on Monday, July 15th. The stock was sold at an average price of $77.14, for a total value of $3,471,300.00. Following the completion of the sale, the chairman now directly owns 447,317 shares of the company’s stock, valued at $34,506,033.38. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, VP Gary L. Collar sold 5,000 shares of AGCO stock in a transaction on Monday, August 12th. The shares were sold at an average price of $72.96, for a total value of $364,800.00. Following the completion of the sale, the vice president now directly owns 83,807 shares of the company’s stock, valued at $6,114,558.72. The disclosure for this sale can be found here. Insiders sold 117,977 shares of company stock worth $8,707,768 in the last 90 days. Company insiders own 17.60% of the company’s stock.
AGCO (NYSE:AGCO) last posted its earnings results on Tuesday, July 30th. The industrial products company reported $1.82 EPS for the quarter, beating the Zacks’ consensus estimate of $1.59 by $0.23. AGCO had a return on equity of 12.64% and a net margin of 4.07%. The company had revenue of $2.42 billion for the quarter, compared to the consensus estimate of $2.55 billion. During the same quarter in the previous year, the business earned $1.32 earnings per share. The company’s revenue for the quarter was down 4.5% on a year-over-year basis. Equities research analysts expect that AGCO Co. will post 5.09 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Monday, September 16th. Shareholders of record on Thursday, August 15th will be given a $0.16 dividend. The ex-dividend date of this dividend is Wednesday, August 14th. This represents a $0.64 dividend on an annualized basis and a yield of 0.92%. AGCO’s dividend payout ratio is currently 16.45%.
A number of equities analysts recently commented on the company. Jefferies Financial Group upgraded AGCO from a “hold” rating to a “buy” rating and lifted their price objective for the stock from $70.00 to $90.00 in a research report on Monday, June 24th. Deutsche Bank set a $88.00 price objective on AGCO and gave the stock a “buy” rating in a research report on Wednesday, July 31st. Stephens assumed coverage on AGCO in a research report on Wednesday, August 14th. They set an “overweight” rating and a $80.00 price objective on the stock. JPMorgan Chase & Co. downgraded AGCO from an “overweight” rating to a “neutral” rating and set a $77.00 price objective on the stock. in a research report on Wednesday, July 10th. Finally, OTR Global upgraded AGCO to a “positive” rating in a research report on Friday, July 12th. Three investment analysts have rated the stock with a sell rating, eight have issued a hold rating and seven have given a buy rating to the company’s stock. The company currently has an average rating of “Hold” and an average price target of $77.07.
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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