Principal Financial Group Inc. Has $28.14 Million Position in AGCO Co. (NYSE:AGCO)

Principal Financial Group Inc. raised its stake in AGCO Co. (NYSE:AGCO) by 1.5% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 215,848 shares of the industrial products company’s stock after buying an additional 3,242 shares during the period. Principal Financial Group Inc.’s holdings in AGCO were worth $28,142,000 as of its most recent SEC filing.

Several other hedge funds also recently modified their holdings of the company. Van ECK Associates Corp increased its position in shares of AGCO by 35.1% during the first quarter. Van ECK Associates Corp now owns 122,416 shares of the industrial products company’s stock worth $17,585,000 after buying an additional 31,832 shares during the period. Impala Asset Management LLC bought a new stake in AGCO during the first quarter valued at $17,578,000. Canada Pension Plan Investment Board raised its position in shares of AGCO by 329.1% in the 1st quarter. Canada Pension Plan Investment Board now owns 36,383 shares of the industrial products company’s stock worth $5,226,000 after acquiring an additional 27,904 shares in the last quarter. EAM Investors LLC raised its position in shares of AGCO by 10.5% in the 1st quarter. EAM Investors LLC now owns 21,291 shares of the industrial products company’s stock worth $3,058,000 after acquiring an additional 2,022 shares in the last quarter. Finally, Impax Asset Management Group plc lifted its stake in shares of AGCO by 4.1% in the 2nd quarter. Impax Asset Management Group plc now owns 256,135 shares of the industrial products company’s stock valued at $33,395,000 after purchasing an additional 9,995 shares during the period. 76.16% of the stock is owned by institutional investors.

In other news, SVP Kelvin Eugene Bennett sold 1,750 shares of AGCO stock in a transaction on Tuesday, August 10th. The stock was sold at an average price of $138.37, for a total transaction of $242,147.50. Following the sale, the senior vice president now directly owns 7,746 shares in the company, valued at approximately $1,071,814.02. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Hans Bernd Veltmaat sold 5,050 shares of the stock in a transaction dated Tuesday, August 31st. The shares were sold at an average price of $138.28, for a total transaction of $698,314.00. Following the transaction, the senior vice president now owns 125,590 shares of the company’s stock, valued at approximately $17,366,585.20. The disclosure for this sale can be found here. 17.40% of the stock is owned by company insiders.

AGCO has been the subject of a number of research analyst reports. JPMorgan Chase & Co. upgraded AGCO from a “neutral” rating to an “overweight” rating and set a $164.00 target price for the company in a report on Tuesday, July 13th. Deutsche Bank Aktiengesellschaft dropped their target price on shares of AGCO from $187.00 to $141.00 and set a “buy” rating on the stock in a research report on Wednesday, July 14th. Morgan Stanley raised their price target on shares of AGCO from $161.00 to $170.00 and gave the stock an “overweight” rating in a report on Monday, August 2nd. Credit Suisse Group raised their target price on AGCO from $160.00 to $163.00 and gave the company an “outperform” rating in a research note on Friday, July 30th. Finally, The Goldman Sachs Group raised AGCO from a “neutral” rating to a “buy” rating and set a $161.00 price target on the stock in a research note on Tuesday, August 24th. Three analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. Based on data from MarketBeat, AGCO presently has a consensus rating of “Buy” and an average target price of $147.36.

Shares of AGCO stock opened at $124.84 on Thursday. AGCO Co. has a 52 week low of $69.68 and a 52 week high of $158.62. The company has a quick ratio of 0.57, a current ratio of 1.31 and a debt-to-equity ratio of 0.38. The business has a 50 day moving average price of $131.75 and a 200-day moving average price of $136.74. The company has a market cap of $9.41 billion, a PE ratio of 13.02, a price-to-earnings-growth ratio of 0.69 and a beta of 1.33.

AGCO (NYSE:AGCO) last announced its quarterly earnings results on Thursday, July 29th. The industrial products company reported $2.88 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $2.17 by $0.71. AGCO had a return on equity of 21.26% and a net margin of 6.94%. The business had revenue of $2.88 billion during the quarter, compared to the consensus estimate of $2.74 billion. As a group, research analysts anticipate that AGCO Co. will post 9.57 EPS for the current year.

The company also recently announced a quarterly dividend, which was paid on Wednesday, September 15th. Stockholders of record on Monday, August 16th were issued a $0.20 dividend. The ex-dividend date of this dividend was Friday, August 13th. This represents a $0.80 annualized dividend and a dividend yield of 0.64%. AGCO’s dividend payout ratio is currently 14.26%.

AGCO Profile

AGCO Corp. engages in the manufacture and distribution of agricultural equipment and related replacement parts. It operates through the following geographic segments: North America; South America; Europe and Middle East; and Asia, Pacific, and Africa. The Asia/Pacific/Africa segment includes the regions of Australia and New Zealand.

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Institutional Ownership by Quarter for AGCO (NYSE:AGCO)

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