Raymond James Financial Inc. Boosts Stock Position in AGCO Corporation $AGCO

Key Points

• Raymond James Financial Inc. increased its stake in AGCO Corporation by 8.3%, acquiring a total of 195,122 shares valued at approximately $18 million.
• AGCO's recent quarterly earnings beat analyst expectations with $1.35 EPS, and the company awarded a $0.29 quarterly dividend, yielding about 1.0%.
• Several analysts upgraded AGCO's price targets, with JPMorgan increasing it to $137.00, and Zacks upgrading the stock from "hold" to "strong-buy."

Raymond James Financial Inc. lifted its stake in shares of AGCO Corporation (NYSE:AGCO - Free Report) by 8.3% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 195,122 shares of the industrial products company's stock after acquiring an additional 14,922 shares during the period. Raymond James Financial Inc. owned 0.26% of AGCO worth $18,062,000 as of its most recent SEC filing.

A number of other hedge funds have also recently added to or reduced their stakes in AGCO. Citizens National Bank Trust Department boosted its stake in AGCO by 400.0% in the 1st quarter. Citizens National Bank Trust Department now owns 300 shares of the industrial products company's stock worth $28,000 after buying an additional 240 shares during the last quarter. Caitong International Asset Management Co. Ltd acquired a new stake in AGCO in the 1st quarter worth about $32,000. Abound Wealth Management acquired a new stake in AGCO in the 1st quarter worth about $56,000. UMB Bank n.a. boosted its stake in AGCO by 140.7% in the 1st quarter. UMB Bank n.a. now owns 811 shares of the industrial products company's stock worth $75,000 after buying an additional 474 shares during the last quarter. Finally, GAMMA Investing LLC boosted its stake in AGCO by 66.9% in the 1st quarter. GAMMA Investing LLC now owns 908 shares of the industrial products company's stock worth $84,000 after buying an additional 364 shares during the last quarter. 78.80% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

AGCO has been the topic of a number of research analyst reports. Morgan Stanley raised their price target on AGCO from $75.00 to $84.00 and gave the stock an "underweight" rating in a research note on Monday, May 12th. Zacks Research raised AGCO from a "hold" rating to a "strong-buy" rating in a research note on Monday, August 18th. UBS Group reissued a "neutral" rating and issued a $119.00 price target (up from $100.00) on shares of AGCO in a research note on Friday, August 8th. The Goldman Sachs Group raised their price target on AGCO from $91.00 to $107.00 and gave the stock a "neutral" rating in a research note on Tuesday, May 27th. Finally, Citigroup reaffirmed a "neutral" rating and issued a $110.00 price objective on shares of AGCO in a research note on Friday, May 30th. One investment analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating, five have given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the company has an average rating of "Hold" and an average target price of $109.38.

AGCO Stock Down 1.5%

Shares of NYSE:AGCO traded down $1.60 during mid-day trading on Tuesday, hitting $106.59. 874,636 shares of the company traded hands, compared to its average volume of 688,020. The firm has a market cap of $7.95 billion, a P/E ratio of 79.54, a PEG ratio of 1.70 and a beta of 1.20. 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 52-week low of $73.79 and a 52-week high of $121.16. The firm's 50 day simple moving average is $110.23 and its 200 day simple moving average is $100.31.

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

AGCO Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, September 15th. Investors of record on Friday, August 15th will be issued 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 presently 86.57%.

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

Insider Activity at AGCO

In related news, SVP Luis Fernando Sartini Felli sold 10,000 shares of the firm's stock in a transaction dated 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 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 sale was disclosed in a filing with the SEC, which can be accessed through this link. Insiders own 16.90% of the company's stock.

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.