Schwerin Boyle Capital Management Inc Lowers stake in AGCO Corporation (AGCO)

AGCO Corporation (AGCO) : Schwerin Boyle Capital Management Inc reduced its stake in AGCO Corporation by 0.44% during the most recent quarter end. The investment management company now holds a total of 474,649 shares of AGCO Corporation which is valued at $24.4 Million after selling 2,100 shares in AGCO Corporation , the firm said in a disclosure report filed with the SEC on May 13, 2016.AGCO Corporation makes up approximately 3.48% of Schwerin Boyle Capital Management Inc’s portfolio.

Other Hedge Funds, Including , Kennedy Capital Management reduced its stake in AGCO by selling 10,573 shares or 6.88% in the most recent quarter. The Hedge Fund company now holds 143,076 shares of AGCO which is valued at $7.4 Million. AGCO Corporation makes up approx 0.15% of Kennedy Capital Management’s portfolio. Dubuque Bank Trust Co sold out all of its stake in AGCO during the most recent quarter. The investment firm sold 261 shares of AGCO which is valued $13,410.Cibc World Markets boosted its stake in AGCO in the latest quarter, The investment management firm added 207 additional shares and now holds a total of 10,086 shares of AGCO Corporation which is valued at $518,219.Intrust Bank Na reduced its stake in AGCO by selling 7,628 shares or 15.31% in the most recent quarter. The Hedge Fund company now holds 42,180 shares of AGCO which is valued at $2.2 Million. AGCO Corporation makes up approx 0.79% of Intrust Bank Na’s portfolio.Retirement Systems Of Alabama reduced its stake in AGCO by selling 3,075 shares or 1.79% in the most recent quarter. The Hedge Fund company now holds 168,830 shares of AGCO which is valued at $9 Million. AGCO Corporation makes up approx 0.05% of Retirement Systems Of Alabama’s portfolio.

AGCO Corporation opened for trading at $51.5 and hit $51.8 on the upside on Wednesday, eventually ending the session at $51.59, with a gain of 0.84% or 0.43 points. The heightened volatility saw the trading volume jump to 7,18,401 shares. Company has a market cap of $4,255 M.

On the company’s financial health, AGCO Corporation reported $0.11 EPS for the quarter, beating the analyst consensus estimate by $ 0.06 according to the earnings call on Apr 27, 2016. Analyst had a consensus of $0.05. The company had revenue of $1559.30 million for the quarter, compared to analysts expectations of $1470.72 million. The company’s revenue was down -8.4 % compared to the same quarter last year.During the same quarter in the previous year, the company posted $0.43 EPS.

Many Wall Street Analysts have commented on AGCO Corporation. Company shares were Reiterated by RBC Capital Mkts on Apr 28, 2016 to “Sector Perform”, Firm has raised the Price Target to $ 52 from a previous price target of $45 .

AGCO Corporation is a manufacturer and distributor of agricultural equipment and related replacement parts around the world. The Company sells a range of agricultural equipment including tractors combines self-propelled sprayers hay tools forage equipment seeding and tillage implements and grain storage and protein production systems. Its products are marketed under various brands including Challenger Fendt GSI Massey Ferguson and Valtra. It also provides retail financing through its finance joint ventures with Cooperatieve Centrale Raiffeisen-Boerenleenbank B.A. The Company’s geographical segments include North America South America Europe/Africa/Middle East and Asia/Pacific. The Company’s AGCO Power engines division produces diesel engines gears and generating sets. It also offers precision farming technologies which are installed in its products and include satellite-based steering field data collection yield mapping and telemetry-based fleet management systems.

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