AGCO Corporation $AGCO Shares Sold by Legal & General Group Plc

Key Points

• Legal & General Group Plc cut its AGCO stake by 17% in the fourth quarter, selling 22,940 shares and leaving it with 111,784 shares worth about $11.66 million.
• AGCO reported better-than-expected quarterly results, posting EPS of $0.94 versus $0.44 expected and revenue of $2.34 billion, up 14.3% year over year.
• The company also raised its quarterly dividend to $0.30 per share from $0.29, while analysts currently rate the stock a consensus Hold with a $126.50 price target.

Legal & General Group Plc reduced its position in shares of AGCO Corporation (NYSE:AGCO - Free Report) by 17.0% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 111,784 shares of the industrial products company's stock after selling 22,940 shares during the period. Legal & General Group Plc owned about 0.15% of AGCO worth $11,661,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in the company. Hantz Financial Services Inc. lifted its position in shares of AGCO by 154.0% during the fourth quarter. Hantz Financial Services Inc. now owns 1,791 shares of the industrial products company's stock worth $187,000 after purchasing an additional 1,086 shares in the last quarter. Swedbank AB lifted its position in shares of AGCO by 110.2% during the fourth quarter. Swedbank AB now owns 179,617 shares of the industrial products company's stock worth $18,738,000 after purchasing an additional 94,183 shares in the last quarter. Fideuram Intesa Sanpaolo Private Banking S.P.A. acquired a new position in shares of AGCO during the fourth quarter worth $500,000. Coldstream Capital Management Inc. lifted its position in shares of AGCO by 11.5% during the fourth quarter. Coldstream Capital Management Inc. now owns 3,363 shares of the industrial products company's stock worth $351,000 after purchasing an additional 346 shares in the last quarter. Finally, Global Retirement Partners LLC lifted its position in shares of AGCO by 2,461.9% during the fourth quarter. Global Retirement Partners LLC now owns 538 shares of the industrial products company's stock worth $56,000 after purchasing an additional 517 shares in the last quarter. 78.80% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on AGCO. Robert W. Baird set a $128.00 price target on shares of AGCO in a report on Friday, February 6th. BMO Capital Markets upped their price target on shares of AGCO from $110.00 to $115.00 and gave the company a "market perform" rating in a report on Friday, February 6th. Morgan Stanley reaffirmed an "underweight" rating and issued a $108.00 price target on shares of AGCO in a report on Thursday, May 14th. Barclays upped their price target on shares of AGCO from $93.00 to $105.00 and gave the company an "underweight" rating in a report on Friday, February 6th. Finally, UBS Group reaffirmed a "neutral" rating and issued a $123.00 price target on shares of AGCO in a report on Sunday, May 10th. Three research analysts have rated the stock with a Buy rating, six have issued a Hold rating and two have given a Sell rating to the company's stock. According to MarketBeat, AGCO has an average rating of "Hold" and a consensus price target of $126.50.

AGCO Stock Up 1.3%

AGCO stock opened at $119.94 on Thursday. The company has a debt-to-equity ratio of 0.47, a current ratio of 1.29 and a quick ratio of 0.57. AGCO Corporation has a 1-year low of $98.60 and a 1-year high of $143.78. The firm has a fifty day moving average price of $116.48 and a two-hundred day moving average price of $115.99. The firm has a market cap of $8.68 billion, a price-to-earnings ratio of 11.57, a PEG ratio of 0.80 and a beta of 1.08.

AGCO (NYSE:AGCO - Get Free Report) last released its quarterly earnings results on Tuesday, May 5th. The industrial products company reported $0.94 EPS for the quarter, topping the consensus estimate of $0.44 by $0.50. The business had revenue of $2.34 billion during the quarter, compared to analyst estimates of $2.26 billion. AGCO had a net margin of 7.43% and a return on equity of 9.99%. The company's quarterly revenue was up 14.3% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.41 earnings per share. AGCO has set its FY 2026 guidance at 6.000-6.000 EPS. Research analysts predict that AGCO Corporation will post 5.97 EPS for the current year.

AGCO Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, June 15th. Stockholders of record on Friday, May 15th will be given a dividend of $0.30 per share. This is an increase from AGCO's previous quarterly dividend of $0.29. This represents a $1.20 annualized dividend and a dividend yield of 1.0%. The ex-dividend date is Friday, May 15th. AGCO's payout ratio is currently 11.57%.

Insider Activity at AGCO

In other news, major shareholder & Farm Equipment Ltd Tractors sold 422,590 shares of the company's stock in a transaction dated Tuesday, May 5th. The shares were sold at an average price of $123.28, for a total transaction of $52,096,895.20. Following the completion of the transaction, the insider owned 3,149,820 shares in the company, valued at approximately $388,309,809.60. This represents a 11.83% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 0.62% of the company's stock.

AGCO 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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