AGCO Corporation $AGCO Shares Purchased by Bank of America Corp DE

Key Points

• Bank of America increased its AGCO stake by 19.4% in the first quarter, bringing its holdings to 543,955 shares worth approximately $63 million. Institutional investors collectively own 78.8% of the company.
• Analyst sentiment is mixed, with AGCO carrying a consensus “Hold” rating and an average price target of $120.33 after several firms reduced their targets.
• AGCO’s latest quarterly results fell slightly short of expectations, with EPS of $1.43 versus $1.46 expected and revenue of $2.61 billion versus $2.75 billion forecast. The company declared a quarterly dividend of $0.30 per share, representing a 1.2% annualized yield.

Bank of America Corp DE boosted its stake in AGCO Corporation (NYSE:AGCO - Free Report) by 19.4% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 543,955 shares of the industrial products company's stock after buying an additional 88,571 shares during the period. Bank of America Corp DE owned approximately 0.75% of AGCO worth $63,028,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of AGCO. Edgestream Partners L.P. purchased a new stake in AGCO in the first quarter valued at approximately $2,420,000. Janus Henderson Group PLC boosted its position in shares of AGCO by 8.6% during the first quarter. Janus Henderson Group PLC now owns 29,180 shares of the industrial products company's stock worth $3,382,000 after buying an additional 2,300 shares during the period. Parvin Asset Management LLC grew its stake in shares of AGCO by 13.8% in the first quarter. Parvin Asset Management LLC now owns 1,860 shares of the industrial products company's stock valued at $216,000 after buying an additional 225 shares in the last quarter. EverSource Wealth Advisors LLC raised its holdings in shares of AGCO by 36.0% in the 1st quarter. EverSource Wealth Advisors LLC now owns 521 shares of the industrial products company's stock valued at $60,000 after buying an additional 138 shares during the period. Finally, California State Teachers Retirement System lifted its stake in AGCO by 23.5% during the 1st quarter. California State Teachers Retirement System now owns 73,535 shares of the industrial products company's stock worth $8,520,000 after acquiring an additional 13,977 shares in the last quarter. Hedge funds and other institutional investors own 78.80% of the company's stock.

Analyst Ratings Changes

A number of analysts have issued reports on the stock. Weiss Ratings lowered shares of AGCO from a "hold (c+)" rating to a "hold (c)" rating in a research note on Friday, July 31st. Truist Financial reissued a "buy" rating and issued a $135.00 price objective (down from $159.00) on shares of AGCO in a research note on Friday, July 31st. Oppenheimer dropped their price objective on shares of AGCO from $134.00 to $127.00 and set an "outperform" rating for the company in a report on Friday, July 31st. Wall Street Zen downgraded shares of AGCO from a "buy" rating to a "hold" rating in a research note on Saturday, August 1st. Finally, JPMorgan Chase & Co. reduced their target price on shares of AGCO from $143.00 to $130.00 and set an "overweight" rating on the stock in a report on Monday, July 13th. Four equities research analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of "Hold" and an average target price of $120.33.

Insider Activity at AGCO

In other news, major shareholder & Farm Equipment Ltd Tractors sold 492,418 shares of the firm's stock in a transaction dated Wednesday, August 5th. The stock was sold at an average price of $115.33, for a total transaction of $56,790,567.94. Following the sale, the insider owned 3,017,565 shares of the company's stock, valued at approximately $348,015,771.45. This trade represents a 14.03% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 0.62% of the company's stock.

AGCO Price Performance

AGCO stock opened at $100.70 on Tuesday. The stock has a market cap of $7.05 billion, a P/E ratio of 13.93, a price-to-earnings-growth ratio of 0.85 and a beta of 1.08. The company has a fifty day simple moving average of $113.71 and a 200-day simple moving average of $118.23. AGCO Corporation has a 12-month low of $99.21 and a 12-month high of $143.78. The company has a current ratio of 1.32, a quick ratio of 0.58 and a debt-to-equity ratio of 0.53.

AGCO (NYSE:AGCO - Get Free Report) last posted its earnings results on Thursday, July 30th. The industrial products company reported $1.43 EPS for the quarter, missing the consensus estimate of $1.46 by ($0.03). AGCO had a net margin of 5.15% and a return on equity of 10.09%. The business had revenue of $2.61 billion during the quarter, compared to analysts' expectations of $2.75 billion. During the same period last year, the company earned $1.35 EPS. The business's quarterly revenue was down 1.0% compared to the same quarter last year. AGCO has set its FY 2026 guidance at 5.500-5.750 EPS. Equities analysts expect that AGCO Corporation will post 5.58 EPS for the current fiscal year.

AGCO Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 15th. Stockholders of record on Friday, August 14th will be issued a $0.30 dividend. The ex-dividend date is Friday, August 14th. This represents a $1.20 dividend on an annualized basis and a dividend yield of 1.2%. AGCO's dividend payout ratio is presently 16.60%.

AGCO Company Profile

AGCO Corporation is a global leader in the design, manufacture and distribution of agricultural machinery and precision farming solutions. Headquartered in Duluth, Georgia, the company markets a diverse portfolio of well-known brands, including Massey Ferguson, Fendt, Challenger, Valtra and GSI, serving farmers and producers in North America, South America, Europe, the Middle East, Africa and Asia Pacific. Through an extensive dealer network, AGCO provides equipment tailored to a broad range of crop and livestock operations.

The company's product offerings span tractors, combine harvesters, hay and forage tools, application equipment, seeding and tillage implements, as well as grain storage and protein solutions.

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