AGCO Corporation $AGCO Stock Position Increased by Amundi

Key Points

• Amundi increased its stake in AGCO Corporation by 1.9%, purchasing an additional 4,025 shares, bringing its total ownership to 215,923 shares worth approximately $19.99 million.
• AGCO's board authorized a $1.00 billion share repurchase program, allowing the company to buy back up to 12.2% of its outstanding shares, which suggests the board believes the stock is undervalued.
• The company recently declared a quarterly dividend of $0.29 per share, resulting in an annualized dividend yield of 1.1%.

Amundi boosted its position in shares of AGCO Corporation (NYSE:AGCO - Free Report) by 1.9% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 215,923 shares of the industrial products company's stock after purchasing an additional 4,025 shares during the period. Amundi owned approximately 0.29% of AGCO worth $19,988,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in the company. Price T Rowe Associates Inc. MD grew its holdings in AGCO by 7.4% during the 1st 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. Dimensional Fund Advisors LP grew its holdings in AGCO by 12.1% during 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 in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its holdings in AGCO by 534.7% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 2,901,790 shares of the industrial products company's stock valued at $271,259,000 after purchasing an additional 2,444,615 shares in the last quarter. Davis Selected Advisers grew its holdings in AGCO by 1.8% during the 1st quarter. Davis Selected Advisers now owns 2,027,266 shares of the industrial products company's stock valued at $187,664,000 after purchasing an additional 35,909 shares in the last quarter. Finally, Massachusetts Financial Services Co. MA grew its holdings in AGCO by 8.6% during the 1st quarter. Massachusetts Financial Services Co. MA now owns 1,903,478 shares of the industrial products company's stock valued at $176,205,000 after purchasing an additional 150,327 shares in the last quarter. 78.80% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research analysts have weighed in on AGCO shares. Wall Street Zen raised shares of AGCO from a "hold" rating to a "buy" rating in a report on Saturday, August 2nd. JPMorgan Chase & Co. decreased their price objective on shares of AGCO from $137.00 to $135.00 and set an "overweight" rating for the company in a report on Tuesday, September 2nd. Zacks Research raised shares of AGCO from a "hold" rating to a "strong-buy" rating in a report on Monday, August 18th. UBS Group reissued a "neutral" rating and set a $119.00 price objective (up from $100.00) on shares of AGCO in a report on Friday, August 8th. Finally, Citigroup reissued a "neutral" rating and set a $110.00 price objective on shares of AGCO in a report 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 issued a Sell rating to the stock. Based on data from MarketBeat, AGCO has an average rating of "Hold" and an average price target of $109.38.

Insider Activity

In other news, SVP Luis Fernando Sartini Felli sold 10,000 shares of the firm's stock in a transaction dated Monday, August 11th. The shares were sold at an average price of $109.40, for a total value of $1,094,000.00. Following the transaction, the senior vice president directly owned 16,189 shares in the company, 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 the SEC website. Insiders own 16.60% of the company's stock.

AGCO Stock Performance

Shares of AGCO stock traded down $0.16 during trading hours on Friday, reaching $109.02. The company's stock had a trading volume of 660,107 shares, compared to its average volume of 664,135. The company's 50 day simple moving average is $110.75 and its 200 day simple moving average is $100.85. 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 one year low of $73.79 and a one year high of $121.16. The stock has a market cap of $8.13 billion, a P/E ratio of 81.36, a price-to-earnings-growth ratio of 1.72 and a beta of 1.20.

AGCO (NYSE:AGCO - Get Free Report) last posted its quarterly earnings results on Thursday, July 31st. The industrial products company reported $1.35 earnings per share (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 company had revenue of $2.64 billion for the quarter, compared to the consensus estimate of $2.52 billion. During the same period last year, the firm posted $2.53 EPS. The company's revenue for the quarter was down 18.8% on a year-over-year basis. AGCO has set its FY 2025 guidance at 4.750-5.00 EPS. As a group, analysts expect that AGCO Corporation will post 4.2 EPS for the current fiscal year.

AGCO Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, September 15th. Stockholders of record on Friday, August 15th will be given a $0.29 dividend. This represents a $1.16 dividend on an annualized basis and a dividend yield of 1.1%. The ex-dividend date is Friday, August 15th. AGCO's dividend payout ratio (DPR) is presently 86.57%.

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

AGCO Company 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.