AGCO Corporation $AGCO Shares Sold by 1832 Asset Management L.P.

Key Points

• 1832 Asset Management L.P. reduced its holdings in AGCO Corporation by 33.4% in Q1, selling 27,800 shares, leaving them with 55,400 shares valued at approximately $5.1 million.
• Institutional investors, including UBS and Price T Rowe Associates, have significantly increased their investments in AGCO, with UBS raising its position by 534.7% during the last quarter.
• AGCO announced a $1 billion buyback program and declared a quarterly dividend of $0.29, reflecting its commitment to shareholder returns despite an 18.8% year-over-year revenue decline.

1832 Asset Management L.P. reduced its holdings in shares of AGCO Corporation (NYSE:AGCO - Free Report) by 33.4% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 55,400 shares of the industrial products company's stock after selling 27,800 shares during the quarter. 1832 Asset Management L.P. owned approximately 0.07% of AGCO worth $5,128,000 as of its most recent SEC filing.

Other hedge funds have also added to or reduced their stakes in the company. Teacher Retirement System of Texas acquired a new stake in AGCO during the first quarter worth about $1,212,000. GAMMA Investing LLC grew its position in shares of AGCO by 66.9% in the 1st quarter. GAMMA Investing LLC now owns 908 shares of the industrial products company's stock valued at $84,000 after buying an additional 364 shares during the last quarter. Envestnet Asset Management Inc. increased its position in AGCO by 9.0% during the 1st quarter. Envestnet Asset Management Inc. now owns 99,951 shares of the industrial products company's stock valued at $9,252,000 after purchasing an additional 8,293 shares during the period. Baker Ellis Asset Management LLC boosted its position in AGCO by 9.0% during the first quarter. Baker Ellis Asset Management LLC now owns 29,934 shares of the industrial products company's stock valued at $2,771,000 after acquiring an additional 2,480 shares during the last quarter. Finally, UMB Bank n.a. lifted its stake in AGCO by 140.7% in the first quarter. UMB Bank n.a. now owns 811 shares of the industrial products company's stock valued at $75,000 after buying an additional 474 shares during the period. 78.80% of the stock is owned by institutional investors and hedge funds.

Insider Activity at AGCO

In other AGCO news, SVP Luis Fernando Sartini Felli sold 10,000 shares of the firm's stock in a transaction that occurred 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 completion of the transaction, the senior vice president directly owned 16,189 shares of the company's stock, valued at approximately $1,771,076.60. This trade represents a 38.18% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Insiders own 16.60% of the company's stock.

AGCO Stock Performance

Shares of NYSE:AGCO traded down $5.20 during mid-day trading on Friday, reaching $107.94. 682,216 shares of the company traded hands, compared to its average volume of 862,316. 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 Corporation has a 52 week low of $73.79 and a 52 week high of $121.16. The company's 50 day moving average price is $109.88 and its 200-day moving average price is $100.05. The firm has a market cap of $8.05 billion, a PE ratio of 80.60, a PEG ratio of 1.79 and a beta of 1.21.

AGCO (NYSE:AGCO - Get Free Report) last issued its quarterly earnings data on Thursday, July 31st. The industrial products company reported $1.35 EPS for the quarter, topping analysts' consensus estimates of $1.06 by $0.29. AGCO had a net margin of 0.98% and a return on equity of 8.27%. The business had revenue of $2.64 billion during the quarter, compared to analysts' expectations of $2.52 billion. During the same period last year, the company posted $2.53 EPS. The business's revenue was down 18.8% on a year-over-year basis. AGCO has set its FY 2025 guidance at 4.750-5.00 EPS. On average, equities analysts expect that AGCO Corporation will post 4.2 EPS for the current fiscal year.

AGCO declared that its Board of Directors has authorized a stock buyback program on Wednesday, July 9th that allows the company to buyback $1.00 billion in shares. This buyback authorization allows the industrial products company to repurchase up to 12.2% of its shares through open market purchases. Shares buyback programs are generally an indication that the company's board of directors believes its stock is undervalued.

AGCO Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, September 15th. Investors of record on Friday, August 15th will be given a dividend of $0.29 per share. This represents a $1.16 annualized dividend and a yield of 1.1%. The ex-dividend date of this dividend is Friday, August 15th. AGCO's dividend payout ratio is currently 86.57%.

Analysts Set New Price Targets

A number of brokerages have commented on AGCO. Zacks Research raised AGCO from a "hold" rating to a "strong-buy" rating in a research note on Monday, August 18th. The Goldman Sachs Group raised their target price on AGCO from $91.00 to $107.00 and gave the company a "neutral" rating in a research report on Tuesday, May 27th. JPMorgan Chase & Co. increased their price objective on AGCO from $130.00 to $137.00 and gave the company an "overweight" rating in a report on Friday, August 1st. Oppenheimer boosted their price objective on shares of AGCO from $108.00 to $115.00 and gave the company an "outperform" rating in a research note on Tuesday, July 15th. Finally, Citigroup reaffirmed a "neutral" rating and issued a $110.00 target price on shares of AGCO in a research note on Friday, May 30th. One equities research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating, five have issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, AGCO currently has an average rating of "Hold" and an average price target of $109.63.

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.