Ethic Inc. Grows Holdings in AGCO Corporation $AGCO

Ethic Inc. grew its position in shares of AGCO Corporation (NYSE:AGCO) by 15.3% in the 2nd quarter, HoldingsChannel.com reports. The fund owned 8,857 shares of the industrial products company’s stock after buying an additional 1,174 shares during the quarter. Ethic Inc.’s holdings in AGCO were worth $907,000 at the end of the most recent quarter.

A number of other large investors have also recently modified their holdings of AGCO. Price T Rowe Associates Inc. MD increased its stake in shares of AGCO by 7.4% during the first quarter. Price T Rowe Associates Inc. MD now owns 6,985,474 shares of the industrial products company’s stock valued at $646,648,000 after purchasing an additional 481,146 shares in the last quarter. Bank of New York Mellon Corp raised its holdings in shares of AGCO by 62.4% in the first quarter. Bank of New York Mellon Corp now owns 1,135,672 shares of the industrial products company’s stock worth $105,129,000 after buying an additional 436,237 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its holdings in shares of AGCO by 14.0% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 3,306,812 shares of the industrial products company’s stock valued at $306,112,000 after acquiring an additional 405,022 shares in the last quarter. Dimensional Fund Advisors LP increased its holdings in AGCO by 12.1% in the first quarter. Dimensional Fund Advisors LP now owns 3,346,046 shares of the industrial products company’s stock valued at $309,745,000 after buying an additional 361,965 shares in the last quarter. Finally, Lord Abbett & CO. LLC increased its stake in AGCO by 38.7% during the 1st quarter. Lord Abbett & CO. LLC now owns 920,431 shares of the industrial products company’s stock worth $85,204,000 after buying an additional 256,953 shares in the last quarter. Institutional investors own 78.80% of the company’s stock.

Insider Transactions at AGCO

In other news, SVP Luis Fernando Sartini Felli sold 10,000 shares of the business’s stock in a transaction that occurred on Monday, August 11th. The stock was sold at an average price of $109.40, for a total transaction of $1,094,000.00. Following the sale, the senior vice president owned 16,189 shares of the company’s stock, valued at $1,771,076.60. The trade was a 38.18% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 16.90% of the stock is owned by company insiders.

AGCO Price Performance

NYSE AGCO opened at $108.70 on Tuesday. The business’s fifty day moving average price is $109.26 and its 200-day moving average price is $104.48. The stock has a market capitalization of $8.11 billion, a price-to-earnings ratio of 81.12, a PEG ratio of 1.73 and a beta of 1.23. AGCO Corporation has a 1-year low of $73.79 and a 1-year high of $121.16. The company has a debt-to-equity ratio of 0.66, a current ratio of 1.48 and a quick ratio of 0.67.

AGCO (NYSE:AGCO) last announced its earnings results on Thursday, July 31st. The industrial products company reported $1.35 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.06 by $0.29. The firm had revenue of $2.64 billion for the quarter, compared to analysts’ expectations of $2.52 billion. AGCO had a net margin of 0.98% and a return on equity of 8.27%. The business’s revenue was down 18.8% compared to the same quarter last year. During the same period in the prior year, the company earned $2.53 EPS. AGCO has set its FY 2025 guidance at 4.750-5.00 EPS. On average, equities analysts predict that AGCO Corporation will post 4.2 earnings per share for the current year.

AGCO announced that its Board of Directors has initiated a stock repurchase plan on Wednesday, July 9th that permits the company to buyback $1.00 billion in outstanding shares. This buyback authorization permits the industrial products company to repurchase up to 12.2% of its shares through open market purchases. Shares buyback plans are generally an indication that the company’s leadership believes its shares are undervalued.

AGCO Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, December 15th. Shareholders of record on Friday, November 14th will be given a $0.29 dividend. The ex-dividend date of this dividend is Friday, November 14th. This represents a $1.16 dividend on an annualized basis and a yield of 1.1%. AGCO’s dividend payout ratio (DPR) is currently 86.57%.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on AGCO. UBS Group reissued a “neutral” rating and set a $119.00 price objective (up from $100.00) on shares of AGCO in a research report on Friday, August 8th. Barclays raised their price objective on shares of AGCO from $110.00 to $116.00 and gave the stock an “equal weight” rating in a report on Monday, October 20th. JPMorgan Chase & Co. boosted their target price on AGCO from $135.00 to $136.00 and gave the stock an “overweight” rating in a report on Tuesday, October 14th. Weiss Ratings reissued a “hold (c-)” rating on shares of AGCO in a research report on Wednesday, October 8th. Finally, Truist Financial lowered their target price on shares of AGCO from $143.00 to $142.00 and set a “buy” rating for the company in a report on Wednesday, October 8th. Three investment analysts have rated the stock with a Buy rating, eight have given a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $116.33.

About AGCO

AGCO Corporation manufactures and distributes agricultural equipment and related replacement parts worldwide. It offers horsepower tractors for row crop production, soil cultivation, planting, land leveling, seeding, and commercial hay operations; 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, equestrian, and residential uses.