Northern Trust Corp Grows Stock Holdings in AGCO Corporation $AGCO

Key Points

• Northern Trust Corp increased its holdings in AGCO Corporation by 1.3% during the first quarter, owning 564,286 shares worth approximately $52.2 million.
• AGCO reported earnings per share (EPS) of $1.35 for the last quarter, surpassing expectations by $0.29, despite a year-over-year revenue decline of 18.8%.
• The company's Board of Directors has initiated a $1.00 billion stock repurchase plan, allowing the purchase of up to 12.2% of its outstanding shares, signaling confidence in its stock value.

Northern Trust Corp boosted its stake in AGCO Corporation (NYSE:AGCO - Free Report) by 1.3% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 564,286 shares of the industrial products company's stock after buying an additional 6,985 shares during the period. Northern Trust Corp owned 0.76% of AGCO worth $52,236,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. Hsbc Holdings PLC lifted its holdings in shares of AGCO by 5.3% during the fourth quarter. Hsbc Holdings PLC now owns 11,257 shares of the industrial products company's stock valued at $1,053,000 after purchasing an additional 568 shares during the last quarter. Two Sigma Securities LLC bought a new stake in shares of AGCO during the fourth quarter valued at approximately $208,000. The Manufacturers Life Insurance Company increased its position in shares of AGCO by 34.4% during the fourth quarter. The Manufacturers Life Insurance Company now owns 128,809 shares of the industrial products company's stock valued at $12,041,000 after acquiring an additional 32,935 shares in the last quarter. Parvin Asset Management LLC bought a new stake in shares of AGCO during the fourth quarter valued at approximately $244,000. Finally, Mercer Global Advisors Inc. ADV bought a new stake in shares of AGCO during the fourth quarter valued at approximately $257,000. 78.80% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on the stock. UBS Group reissued a "neutral" rating and set a $119.00 price target (up previously from $100.00) on shares of AGCO in a research report on Friday, August 8th. Zacks Research raised shares of AGCO from a "hold" rating to a "strong-buy" rating in a research report on Monday, August 18th. Morgan Stanley raised their price target on shares of AGCO from $75.00 to $84.00 and gave the company an "underweight" rating in a research report on Monday, May 12th. The Goldman Sachs Group raised their price target on shares of AGCO from $91.00 to $107.00 and gave the company a "neutral" rating in a research report on Tuesday, May 27th. Finally, Oppenheimer lifted their target price on shares of AGCO from $108.00 to $115.00 and gave the stock an "outperform" rating in a research report on Tuesday, July 15th. One investment analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating, five have issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of "Hold" and a consensus target price of $109.63.

Insider Buying and Selling at AGCO

In other 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 owned 16,189 shares in the company, valued at $1,771,076.60. This trade represents a 38.18% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. 16.60% of the stock is owned by corporate insiders.

AGCO Stock Performance

NYSE:AGCO traded down $5.10 during trading hours on Monday, reaching $108.04. The company had a trading volume of 1,132,802 shares, compared to its average volume of 723,140. The company has a current ratio of 1.48, a quick ratio of 0.67 and a debt-to-equity ratio of 0.66. AGCO Corporation has a 52 week low of $73.79 and a 52 week high of $121.16. The firm has a market cap of $8.06 billion, a price-to-earnings ratio of 80.63, a PEG ratio of 1.70 and a beta of 1.20. The firm's 50 day moving average price is $110.00 and its 200-day moving average price is $100.19.

AGCO (NYSE:AGCO - Get Free Report) last posted its earnings results 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 the consensus estimate of $2.52 billion. During the same quarter in the previous year, the firm posted $2.53 EPS. The firm'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, analysts forecast that AGCO Corporation will post 4.2 EPS for the current 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 paid a dividend of $0.29 per share. This represents a $1.16 annualized dividend and a dividend yield of 1.1%. The ex-dividend date is Friday, August 15th. AGCO's dividend payout ratio (DPR) is currently 86.57%.

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 outstanding shares. This buyback authorization allows the industrial products company to reacquire up to 12.2% of its stock through open market purchases. Stock buyback programs are often a sign that the company's board of directors believes its stock is undervalued.

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.