UP!

AGCO $71.51   View long term graphs

AGCO
Formerly called
Gleaner-Allis Corporation, Allis-Gleaner Corporation
Type
Public
Traded as NYSE: AGCO
S&P 400 Component
Industry Manufacturer
Predecessor Allis-Chalmers 1909–1985, Deutz-Allis 1985–1990
Founded 1990
Headquarters Duluth, Georgia
United States
Area served
Worldwide
Key people
Martin H. Richenhagen
(President & CEO)
Products Agricultural equipment
Tractors
Combines
Self-propelled sprayers
Hay tools
Forage equipment
Seeding & Tillage equipment
Diesel engines
List of brands
Services Parts, Service, Finance
Revenue IncreaseUS$ 10.786 billion (2013)
Operating income
IncreaseUS$ 610.3 million (2011)
Net income
IncreaseUS$ 585.3 million (2011)
Total assets IncreaseUS$ 7.2572 billion (2011)
Total equity IncreaseUS$ 3.0312 billion (2011)
Number of employees
17,366 (2011)
Website www.agcocorp.com

AGCO Corporation is an American agricultural equipment manufacturer based in Duluth, Georgia, United States.

AGCO was established in 1990 when executives at Deutz-Allis bought out Deutz-Allis North American operations from the parent corporation KHD (Klöckner-Humboldt-Deutz), a German company that owned the Deutz-Fahr brand of agriculture equipment. KHD had purchased portions of the Allis-Chalmers agricultural equipment business five years earlier.

The company was first called Gleaner-Allis Corporation, then rearranged to be Allis-Gleaner Corporation, or AGCO. The Deutz-Allis line of tractors were renamed AGCO-Allis, and Gleaner became a brand of its own for combines. The Deutz-Allis brand continued in South America until 2001, when they were renamed AGCO-Allis. In 2001, AGCO Allis was renamed AGCO in North America.

In March 1991, AGCO purchased the Hesston Corporation gaining hay and forage equipment as well as technologies such as the grain auger (used to unload grain quickly from combines), invented in 1947 by Lyle Yost. Hesston had a 50 percent joint venture with Case International, now a part of CNH Global. AGCO purchased the White Tractor line from the Allied Corporation's White-New Idea company. In 1993, AGCO purchased the remainder of White-New Idea, gaining New Idea hay equipment and manure spreaders, and White planters. White New Idea had a large manufacturing plant operating in Coldwater, Ohio, USA.

Also in 1993, AGCO purchased the North American distribution rights to Massey Ferguson, a worldwide agricultural equipment company. In 1994, they purchased McConnell Tractors, manufacturer of the large articulated Massey Ferguson tractors. AGCO developed the Agcostar line of articulated tractors. Later in 1994, the Black Machine line of planters was purchased.

1995 saw the purchase of the AgEquipment Group, which manufactured tillage equipment and loaders under the Glenco, Tye and Farmhand brands. In 1996, acquisitions went international with the purchase of Iochpe-Maxion in Brazil. This was the Brazilian company that had rights to the Massey Ferguson brand and manufacturing in the region, as well as the Maxion brand of industrial equipment. This was also the year that AGCO purchased Deutz Argentina, the number one leader of tractors in Argentina. Also in 1996, AGCO purchased Western Combine Corporation and Portage Manufacturing in Canada. Western Combine had previously purchased the assets of the Massey Combine Corporation's combine operation, which had been spun off by Massey-Ferguson.

1997 was the year of the major purchase of Fendt in Germany, the leading German tractor company. Fendt is well known for its advanced technology. AGCO also acquired Dronningborg Industries in Denmark, the manufacturer of European Massey-Ferguson combines, and former manufacturer of Dronningborg combines.

In 1998, AGCO made a joint venture with Deutz AG to produce engines in Argentina, and purchased the Spra-Coupe and Willmar companies. Spra-Coupe and Willmar are leading sprayer companies in North America. SpraCoupe originated in Bismarck, ND. Upon purchase by AGCO, the manufacturing of SpraCoupes was moved to Willmar, Minnesota where the Willmar branded fertilizer tenders and "Wrangler" articulated loaders were being manufactured. SpraCoupe and Willmar products were manufactured in Willmar from 1998 to 2001.

For the year 2000, AGCO bought out its partner CNH Global N.V. in the Hay and Forage Industries joint venture.

In 2001, AGCO purchased Ag-Chem Equipment, expanding its application equipment business. Ag-Chem Equipment was based in Jackson, Minnesota and developed the TerraGator flotation-type and RoGator rowcrop-type applicators. Also that year, the SpraCoupe and Willmar brands moved their manufacturing from Willmar, MN to the Jackson, Minnesota facility and the Agco-Allis and White tractor lines were merged in North America under the AGCO brand, continuing in the orange color.

2002 was the year that AGCO purchased rights to the Challenger name and the tracked tractors from the Caterpillar Corporation, giving AGCO a well-known brand name and high-power tracked tractors. AGCO further developed the Challenger line into: wheeled tractors, using tractors manufactured by Iseki, Agritalia, the Massey Ferguson factory and the Brazilian Valtra factory; combines, rebranding some Massey Ferguson/Gleaner -built combines; and hay equipment, using Hesston-built hay equipment. AGCO also purchased the Sunflower Manufacturing Company in Beloit, Kansas, which manufactures tillage, seeding and specialty harvesting equipment.

2004 brought about the purchase of the Valtra tractor company from the Kone Group, in Finland. Valtra has some licensing agreements with the Eicher company in India for tractor production, and also with the HEMA group in Turkey. The purchase of Valtra also included SISU POWER engines.

2006 saw a re-focusing of the various brands, and the reduction of individual brands. AGCO announced plans to combine some, and make some only part of a larger brand, or co-branding. Examples include the Massey Ferguson 9635 Hesston self-propelled swather, and the AGCO 9365 Hesston self-propelled swather. Challenger has seen further expansion with the further consolidation of the AgChem brand into Challenger, and the introduction of Agritalia built tractors and an articulated Challenger tractor.

In 2007, AGCO bought 50% of Laverda S.p.A from ARGO SpA, which included the Gallagnani and Fella-Werke hay equipment brands.

In 2008/2009 AGCO, the Challenger, Valtra, and Massey Ferguson large row crop tractors were launched in Europe and North America respectively with AGCO's e3 Selective Catalytic Reduction (SCR) emission reduction technology.

Late in 2009, AGCO announced that it would phase out the orange AGCO Tractors by 2011.

In late 2010, AGCO announced the plan to acquire the remaining 50% of Laverda, which included Fella-Werke as well. The acquisition was finalized in March 2011.

In 2011, AGCO plans to transfer its high-horsepower wheeled-tractor assembly of tractors sold in North America from Beauvais, France to Jackson, Minnesota, where it will expand the plant by 75,000 square feet (7,000 m).

In 2011, AGCO said that it will invest $40 million in its Hesston plant by building a new 200,000-square-foot (19,000 m) painting and finishing building. Construction began June 2011 and was completed in 2013.

In October 2011, AGCO purchased GSI. It was based in Assumption, Illinois and manufactures grain storage and handling equipment as the GSI Group.

In 2012. AGCO acquired 60% of Santal Equipamentos, a sugar cane planting and harvesting equipment. AGCO purchased 80% of Shandong Dafeng Machinery Co, a combine harvester manufacturer in China. AGCO formed the Algerian Tractors Company joint venture with the Algerian brand Etrag with 49% ownership.

In 2013, AGCO’s GSI acquired Johnson System, a manufacturer of catwalks and towers.

In 2017, AGCO acquired Precision Planting, LLC, a planting equipment and technology business.

Q reports

Period Date Adjusted Actuals EPS GAAP EPS
Q4 2020 2021-02-04 Future report Set alerts
Q3 2020 2020-10-27 Future report Set alerts
Q2 2020 2020-07-30 1.11 0.93
Q1 2020 2020-05-05 0.86 0.85
Q4 2019 2020-02-06 0.94 -1.17
Q3 2019 2019-10-29 0.82 0.10
Q2 2019 2019-07-30 1.82 1.82
Q1 2019 2019-05-02 0.86 0.84
Q4 2018 2019-02-05 1.31 1.26
Q3 2018 2018-10-30 0.91 0.89

Ratings

2016-07-12 Reiterated Rating Barclays PLC Equal Weight $43.00
2016-06-27 Downgrade JPMorgan Chase & Co. Neutral to Underweight $47.00 to $44.00
2016-04-28 Reiterated Rating RBC Capital Sector Perform $45.00 to $52.00
2016-04-28 Reiterated Rating Royal Bank Of Canada Sector Perform $45.00 to $52.00
2016-04-10 Reiterated Rating Macquarie Underperform $35.00
2016-03-30 Boost Price Target BMO Capital Markets Market Perform $49.00
2016-02-03 Reiterated Rating Barclays Hold $45.00 to $43.00
2016-02-03 Reiterated Rating Deutsche Bank Hold $46.00
2016-02-03 Reiterated Rating RBC Capital Hold to Hold $46.00 to $45.00
2016-02-03 Reiterated Rating William Blair Market Perform $45.00
2016-02-03 Reiterated Rating Barclays PLC Hold $45.00 to $43.00
2016-02-03 Reiterated Rating Deutsche Bank AG Hold $46.00
2016-01-24 Reiterated Rating Deutsche Bank Hold
2016-01-19 Boost Price Target Barclays Equal Weight $44.00 to $45.00
2015-12-16 Lower Price Target Macquarie Underperform $38.00 to $35.00
2015-12-16 Reiterated Rating Barclays Equal Weight $45.00 to $44.00
2015-12-16 Reiterated Rating Piper Jaffray Hold $43.00 to $41.00
2015-12-16 Upgrade Deutsche Bank Sell to Hold $40.00 to $46.00
2015-12-16 Lower Price Target RBC Capital Sector Perform $49.00 to $46.00
2015-12-16 Reiterated Rating Piper Jaffray Cos. Hold $43.00 to $41.00
2015-12-11 Lower Price Target JPMorgan Chase & Co. $48.00 to $46.00
2015-10-29 Boost Price Target BMO Capital Markets $43.00
2015-10-29 Reiterated Rating Barclays Equal Weight $44.00 to $45.00
2015-10-09 Lower Price Target JPMorgan Chase & Co. $55.00 to $48.00
2015-10-02 Downgrade Bank of America Neutral to Underperform $47.00 to $38.00
2015-10-02 Lower Price Target Credit Suisse Neutral $53.00 to $50.00
2015-10-02 Downgrade Bank of America Corp. Neutral to Underperform $47.00 to $38.00
2015-10-02 Lower Price Target Credit Suisse Group AG Neutral $53.00 to $50.00
2015-09-25 Reiterated Rating Barclays Hold
2015-09-25 Reiterated Rating Bank of America Hold $58.00 to $47.00
2015-09-24 Initiated Coverage Barclays Equal Weight $44.00
2015-08-24 Reiterated Rating Piper Jaffray Neutral $47.00 to $44.00
2015-07-29 Upgrade Vertical Research Hold
2015-07-27 Upgrade Goldman Sachs Sell to Neutral $36.00 to $54.00
2015-07-27 Upgrade Goldman Sachs Group Inc. Sell to Neutral $36.00 to $54.00
2015-07-18 Boost Price Target Global Hunter Securities $50.00 to $54.00
2015-07-18 Boost Price Target Seaport Global Securities $50.00 to $54.00
2015-07-15 Upgrade Wells Fargo & Co. Underperform to Market Perform
2015-07-15 Upgrade Wells Fargo Underperform to Market Perform
2015-07-14 Boost Price Target Jefferies Group Buy $56.00 to $64.00
2015-06-22 Upgrade JPMorgan Chase & Co. Underweight to Neutral $45.00 to $55.00
2015-04-29 Set Price Target Barclays Hold $50.00 to $52.00
2015-04-16 Downgrade JPMorgan Chase & Co. Neutral to Underweight $44.00 to $42.00
2015-04-06 Downgrade Deutsche Bank Hold to Sell $48.00 to $40.00
2015-02-04 Set Price Target Credit Suisse Hold $46.00
2014-12-16 Reiterated Rating Barclays Equal Weight $45.00 to $46.00
2014-10-08 Reiterated Rating Barclays Equal Weight $55.00 to $45.00
2014-10-08 Reiterated Rating Citigroup Inc. Neutral $55.00 to $48.00
2014-10-08 Reiterated Rating Macquarie Underperform $44.00 to $40.00
2014-10-08 Lower Price Target RBC Capital Sector Perform $55.00 to $45.00
2014-10-07 Downgrade Wells Fargo & Co. Neutral to Underperform
2014-10-07 Lower Price Target Goldman Sachs Sell $36.00
2014-10-07 Downgrade Janney Montgomery Scott Buy to Neutral $72.00 to $56.00
2014-10-07 Downgrade Wells Fargo Neutral to Underperform
2014-09-22 Reiterated Rating Deutsche Bank Hold $60.00 to $52.00
2014-08-29 Upgrade JPMorgan Chase & Co. Underweight to Neutral $50.00 to $51.00
2014-08-22 Downgrade Macquarie Neutral to Underperform $50.00 to $44.00
2014-07-31 Lower Price Target BMO Capital Markets $50.00 to $46.00
2014-07-30 Reiterated Rating Macquarie Neutral $54.00 to $50.00
2014-07-30 Reiterated Rating Barclays Equal Weight $62.00 to $55.00
2014-07-30 Reiterated Rating Citigroup Inc. Neutral $58.00 to $55.00
2014-07-30 Reiterated Rating Credit Suisse Hold $60.00 to $55.00
2014-07-09 Reiterated Rating JPMorgan Chase & Co. Underweight to Underweight $55.00 to $50.00
2014-06-19 Initiated Coverage Global Hunter Securities Neutral $58.00
2014-06-19 Initiated Coverage Seaport Global Securities Neutral $58.00
2014-04-30 Reiterated Rating JPMorgan Chase & Co. Underweight $55.00
2014-04-30 Reiterated Rating Barclays Equal Weight $62.00
2014-04-30 Downgrade Piper Jaffray Overweight to Neutral $62.00
2014-04-30 Reiterated Rating Jefferies Group Buy $62.00 to $65.00
2014-04-14 Lower Price Target Barclays Equal Weight $64.00 to $61.00
2014-02-27 Downgrade Morgan Stanley Overweight to Equal Weight
2014-02-20 Initiated Coverage Deutsche Bank Hold $60.00
2014-02-05 Downgrade BMO Capital Markets Outperform to Market Perform $65.00 to $50.00
2014-01-16 Downgrade JPMorgan Chase & Co. Neutral to Underweight
2013-12-18 Lower Price Target BMO Capital Markets $66.00 to $65.00
2013-12-16 Lower Price Target Barclays $66.00 to $65.00
2013-11-11 Downgrade Goldman Sachs Neutral to Sell $58.00 to $53.00
2013-11-08 Reiterated Rating Bank of America Buy $69.00
2011-05-26 Upgrade UBS Neutral to Buy $60 to $60
2011-04-27 Reiterated Boenning & Scattergood Outperform $65 to $80
2011-02-10 Upgrade Boenning & Scattergood Neutral to Outperform $65
2010-11-30 Initiated Boenning & Scattergood Neutral
2016-07-12 Reiterated Rating Barclays PLC Equal Weight $43.00
2016-06-27 Downgrade JPMorgan Chase & Co. Neutral to Underweight $47.00 to $44.00
2016-04-28 Reiterated Rating RBC Capital Sector Perform $45.00 to $52.00
2016-04-28 Reiterated Rating Royal Bank Of Canada Sector Perform $45.00 to $52.00
2016-04-10 Reiterated Rating Macquarie Underperform $35.00

There is presents forecasts of rating agencies and recommendations for investors about this ticker

Major Shareholders

Name Relationship Total Shares Holding stocks
RICHENHAGEN MARTIN Chairman, President and CEO 0.70%  (660475) AGCO / PPG / PX /
BECK ANDREW H Sr. VP and CFO 0.17%  (158756) AGCO /
COLLAR GARY L Sr. VP - General Manager, APAC 0.10%  (89471) AGCO / HI /
Veltmaat Hans Bernd Sr VP, Chief Supply Chain Off. 0.09%  (81912) AGCO /
Carioba Andre Mueller Sr. VP, Gen Mgr South America 0.09%  (80048) AGCO /
Crain Robert B Sr VP, Gen. Mgr. North America 0.08%  (75387) AGCO /
SMITH RICHARD ROBINSON Sr. VP, General Manager EAME 0.05%  (46821) AGCO /
Smith Lucinda B Sr VP Global Business Service 0.05%  (45873) AGCO /
Endres Helmut Senior VP Engineering 0.04%  (35006) AGCO /
Hansotia Eric P Sr VP Global Harvesting ATS 0.03%  (27698) AGCO /
Welke Thomas Frederick Sr.VP Global Grain and Protein 0.03%  (24903) AGCO /
VISSER HENDRIKUS 0.02%  (22729) AGCO /
DEML WOLFGANG 0.02%  (22397) AGCO /
BENSON P GEORGE 0.02%  (15277) AGCO / PRI /
SRINIVASAN MALLIKA 0.02%  (15067) AGCO /
SHAHEEN GERALD L 0.01%  (11544) AGCO / F /
Furlan Luiz Fernando 0.01%  (10364) AGCO /
ARNOLD MICHAEL C 0.01%  (10199) AGCO /
ARMES ROY V 0.01%  (9600) AGCO / CTB / MTW /
JOHANNESON GERALD B 0.01%  (8796) AGCO /
CAPLAN DAVID L Sr. VP, Materials Projects 0.01%  (8683) AGCO /

Comments