AGCO Corporation $AGCO Shares Sold by Bayforest Capital Ltd

Key Points

• Bayforest Capital Ltd has reduced its holdings in AGCO Corporation by 59.6%, selling 10,537 shares and leaving them with 7,156 shares valued at $738,000.
• The company's latest earnings report showed AGCO had an EPS of $1.35, exceeding estimates, while revenue fell 18.8% compared to the previous year.
• AGCO announced a $1 billion share repurchase plan, indicating confidence from its Board of Directors regarding the stock's valuation.

Bayforest Capital Ltd trimmed its position in shares of AGCO Corporation (NYSE:AGCO - Free Report) by 59.6% in the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 7,156 shares of the industrial products company's stock after selling 10,537 shares during the period. Bayforest Capital Ltd's holdings in AGCO were worth $738,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of AGCO. GAMMA Investing LLC boosted its stake in AGCO by 66.9% during the 1st quarter. GAMMA Investing LLC now owns 908 shares of the industrial products company's stock valued at $84,000 after purchasing an additional 364 shares during the period. Exchange Traded Concepts LLC lifted its stake in shares of AGCO by 1,269.5% in the 1st quarter. Exchange Traded Concepts LLC now owns 1,616 shares of the industrial products company's stock worth $150,000 after acquiring an additional 1,498 shares during the period. Abound Wealth Management acquired a new stake in shares of AGCO in the 1st quarter worth approximately $56,000. State of Alaska Department of Revenue lifted its stake in shares of AGCO by 1.1% in the 1st quarter. State of Alaska Department of Revenue now owns 16,857 shares of the industrial products company's stock worth $1,559,000 after acquiring an additional 190 shares during the period. Finally, Blue Trust Inc. lifted its stake in shares of AGCO by 45.2% in the 1st quarter. Blue Trust Inc. now owns 1,908 shares of the industrial products company's stock worth $177,000 after acquiring an additional 594 shares during the period. 78.80% of the stock is owned by institutional investors and hedge funds.

AGCO Stock Performance

AGCO stock opened at $104.24 on Tuesday. The company has a quick ratio of 0.67, a current ratio of 1.48 and a debt-to-equity ratio of 0.66. The company has a market capitalization of $7.78 billion, a price-to-earnings ratio of 77.79, a P/E/G ratio of 1.65 and a beta of 1.23. AGCO Corporation has a 12 month low of $73.79 and a 12 month high of $121.16. The firm has a 50 day moving average of $110.05 and a two-hundred day moving average of $102.79.

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 the consensus estimate of $1.06 by $0.29. The company had revenue of $2.64 billion during the quarter, compared to the consensus estimate of $2.52 billion. AGCO had a net margin of 0.98% and a return on equity of 8.27%. The company's revenue for the quarter was down 18.8% compared to the same quarter last year. During the same period in the previous year, the firm posted $2.53 earnings per share. AGCO has set its FY 2025 guidance at 4.750-5.00 EPS. As a group, equities analysts anticipate that AGCO Corporation will post 4.2 EPS for the current fiscal year.

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

Insider Activity

In related news, SVP Luis Fernando Sartini Felli sold 10,000 shares of the company's 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 completion of the sale, the senior vice president directly owned 16,189 shares of the company's stock, valued at approximately $1,771,076.60. This represents a 38.18% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 16.90% of the company's stock.

Analyst Ratings Changes

A number of analysts have recently weighed in on the stock. Oppenheimer reduced their price target on shares of AGCO from $124.00 to $123.00 and set an "outperform" rating for the company in a research note on Thursday, September 18th. Citigroup dropped their target price on shares of AGCO from $125.00 to $120.00 and set a "neutral" rating on the stock in a report on Tuesday, September 23rd. Wall Street Zen upgraded shares of AGCO from a "hold" rating to a "buy" rating in a report on Saturday, August 2nd. Zacks Research downgraded shares of AGCO from a "strong-buy" rating to a "hold" rating in a report on Friday, September 19th. Finally, UBS Group reiterated a "neutral" rating and issued a $119.00 target price (up from $100.00) on shares of AGCO in a report on Friday, August 8th. Three equities research analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, AGCO currently has an average rating of "Hold" and a consensus target price of $116.25.

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.

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