AGCO Co. (AGCO) Stake Increased by Northern Trust Corp

Northern Trust Corp lifted its holdings in AGCO Co. (NYSE:AGCO) by 13.4% in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 645,407 shares of the industrial products company’s stock after buying an additional 76,094 shares during the period. Northern Trust Corp owned about 0.82% of AGCO worth $39,189,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of AGCO. Whittier Trust Co. acquired a new stake in shares of AGCO in the second quarter worth $124,000. Convergence Investment Partners LLC boosted its position in shares of AGCO by 1,586.6% in the second quarter. Convergence Investment Partners LLC now owns 3,407 shares of the industrial products company’s stock worth $207,000 after buying an additional 3,205 shares during the period. FDx Advisors Inc. boosted its position in shares of AGCO by 21.7% in the second quarter. FDx Advisors Inc. now owns 5,483 shares of the industrial products company’s stock worth $333,000 after buying an additional 978 shares during the period. Toronto Dominion Bank boosted its position in shares of AGCO by 45.8% in the second quarter. Toronto Dominion Bank now owns 6,349 shares of the industrial products company’s stock worth $386,000 after buying an additional 1,993 shares during the period. Finally, Personal Capital Advisors Corp acquired a new stake in shares of AGCO in the second quarter worth $398,000. 84.85% of the stock is owned by institutional investors and hedge funds.

AGCO opened at $56.41 on Thursday. The firm has a market cap of $4.81 billion, a P/E ratio of 18.46, a PEG ratio of 1.02 and a beta of 0.70. AGCO Co. has a 1 year low of $54.47 and a 1 year high of $75.95. The company has a quick ratio of 0.63, a current ratio of 1.42 and a debt-to-equity ratio of 0.58.

AGCO (NYSE:AGCO) last posted its earnings results on Tuesday, July 31st. The industrial products company reported $1.32 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.28 by $0.04. AGCO had a return on equity of 9.31% and a net margin of 2.44%. The company had revenue of $2.54 billion for the quarter, compared to analyst estimates of $2.45 billion. During the same period last year, the company earned $1.15 earnings per share. The business’s revenue was up 17.2% compared to the same quarter last year. As a group, analysts predict that AGCO Co. will post 3.78 earnings per share for the current year.

A number of research firms recently issued reports on AGCO. TheStreet cut AGCO from a “b” rating to a “c+” rating in a research report on Thursday, June 21st. ValuEngine cut AGCO from a “hold” rating to a “sell” rating in a research report on Monday, July 16th. Zacks Investment Research raised AGCO from a “hold” rating to a “buy” rating and set a $68.00 price objective for the company in a research report on Tuesday, July 3rd. Deutsche Bank reissued a “buy” rating on shares of AGCO in a research report on Monday, September 24th. Finally, Jefferies Financial Group reissued a “hold” rating and set a $70.00 price objective on shares of AGCO in a research report on Friday, July 20th. Four research analysts have rated the stock with a sell rating, twelve have given a hold rating and two have given a buy rating to the stock. The stock has an average rating of “Hold” and a consensus target price of $71.00.

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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Institutional Ownership by Quarter for AGCO (NYSE:AGCO)

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