Bank of New York Mellon Corp Has $103.92 Million Stake in AGCO Corporation $AGCO

Bank of New York Mellon Corp reduced its position in AGCO Corporation (NYSE:AGCO) by 11.3% during the second quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 1,007,326 shares of the industrial products company’s stock after selling 128,346 shares during the quarter. Bank of New York Mellon Corp owned approximately 1.35% of AGCO worth $103,916,000 as of its most recent filing with the SEC.

A number of other hedge funds have also bought and sold shares of the company. Price T Rowe Associates Inc. MD boosted its position in 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 acquiring an additional 481,146 shares during the last quarter. Dimensional Fund Advisors LP lifted its stake in shares of AGCO by 12.1% in the 1st quarter. Dimensional Fund Advisors LP now owns 3,346,046 shares of the industrial products company’s stock valued at $309,745,000 after purchasing an additional 361,965 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its position in shares of AGCO by 14.0% during the 1st 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 purchasing an additional 405,022 shares in the last quarter. Davis Selected Advisers grew its stake in AGCO by 1.8% during the first quarter. Davis Selected Advisers now owns 2,027,266 shares of the industrial products company’s stock worth $187,664,000 after purchasing an additional 35,909 shares during the period. Finally, Massachusetts Financial Services Co. MA increased its holdings in AGCO by 8.6% in the first quarter. Massachusetts Financial Services Co. MA now owns 1,903,478 shares of the industrial products company’s stock worth $176,205,000 after purchasing an additional 150,327 shares in the last quarter. Institutional investors own 78.80% of the company’s stock.

AGCO Price Performance

Shares of NYSE AGCO opened at $105.49 on Friday. The stock has a market cap of $7.87 billion, a price-to-earnings ratio of 78.73, a PEG ratio of 1.73 and a beta of 1.25. The company has a debt-to-equity ratio of 0.66, a quick ratio of 0.67 and a current ratio of 1.48. AGCO Corporation has a fifty-two week low of $73.79 and a fifty-two week high of $121.16. The firm’s 50-day simple moving average is $107.98 and its 200 day simple moving average is $105.78.

AGCO (NYSE:AGCO) last issued its quarterly earnings data on Friday, October 31st. The industrial products company reported $1.35 EPS for the quarter, topping the consensus estimate of $1.26 by $0.09. AGCO had a return on equity of 8.27% and a net margin of 0.98%.The firm had revenue of $2.48 billion during the quarter, compared to the consensus estimate of $2.48 billion. During the same period in the prior year, the business posted $0.68 earnings per share. The company’s quarterly revenue was down 4.7% compared to the same quarter last year. AGCO has set its FY 2025 guidance at 5.000-5.000 EPS. As a group, research analysts anticipate that AGCO Corporation will post 4.2 earnings per share for the current fiscal year.

AGCO Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, December 15th. Investors of record on Friday, November 14th will be given a $0.29 dividend. This represents a $1.16 dividend on an annualized basis and a yield of 1.1%. The ex-dividend date of this dividend is Friday, November 14th. AGCO’s dividend payout ratio is presently 23.06%.

Insiders Place Their Bets

In other AGCO news, SVP Luis Fernando Sartini Felli sold 10,000 shares of AGCO stock in a transaction on Monday, August 11th. The shares were sold at an average price of $109.40, for a total transaction of $1,094,000.00. Following the transaction, the senior vice president directly 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 16.60% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have recently commented on AGCO shares. Oppenheimer reaffirmed an “outperform” rating and set a $123.00 price objective on shares of AGCO in a research report on Monday. Zacks Research cut shares of AGCO from a “strong-buy” rating to a “hold” rating in a report on Friday, September 19th. Truist Financial reiterated a “buy” rating and set a $123.00 price objective (down previously from $142.00) on shares of AGCO in a report on Monday, November 3rd. UBS Group restated a “neutral” rating and issued a $119.00 target price (up from $100.00) on shares of AGCO in a research note on Friday, August 8th. Finally, JPMorgan Chase & Co. boosted their target price on AGCO from $135.00 to $136.00 and gave the company an “overweight” rating in a research report on Tuesday, October 14th. Three investment analysts have rated the stock with a Buy rating, eight have issued a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $113.67.

AGCO Profile

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.