AGCO Corporation $AGCO Shares Sold by Principal Financial Group Inc.

Key Points

• Principal Financial Group cut its AGCO stake by 15.6% in Q1, selling 112,116 shares and leaving it with 605,073 shares worth about $70.1 million.
• AGCO reported strong quarterly results, with EPS of $0.94 beating estimates and revenue rising 14.3% year over year to $2.34 billion.
• The company also announced a quarterly dividend of $0.30 per share, while analysts currently have a mixed outlook with a consensus rating of Hold and an average target price of $129.45.

Principal Financial Group Inc. reduced its position in AGCO Corporation (NYSE:AGCO - Free Report) by 15.6% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 605,073 shares of the industrial products company's stock after selling 112,116 shares during the quarter. Principal Financial Group Inc. owned about 0.84% of AGCO worth $70,110,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. SG Americas Securities LLC raised its holdings in AGCO by 2,167.4% in the fourth quarter. SG Americas Securities LLC now owns 157,309 shares of the industrial products company's stock valued at $16,410,000 after buying an additional 150,371 shares during the period. Davis Selected Advisers lifted its position in AGCO by 13.0% during the fourth quarter. Davis Selected Advisers now owns 2,048,835 shares of the industrial products company's stock valued at $213,736,000 after buying an additional 235,913 shares in the last quarter. Massachusetts Financial Services Co. MA grew its stake in AGCO by 3.5% during the fourth quarter. Massachusetts Financial Services Co. MA now owns 2,939,113 shares of the industrial products company's stock worth $306,608,000 after buying an additional 98,988 shares during the period. Swedbank AB grew its stake in 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 buying an additional 94,183 shares during the period. Finally, Capital World Investors increased its position in shares of AGCO by 309.0% in the fourth quarter. Capital World Investors now owns 2,403,349 shares of the industrial products company's stock worth $250,717,000 after acquiring an additional 1,815,741 shares in the last quarter. Institutional investors and hedge funds own 78.80% of the company's stock.

Insider Activity at AGCO

In related news, major shareholder & Farm Equipment Ltd Tractors sold 422,590 shares of the business's stock in a transaction dated Tuesday, May 5th. The stock was sold at an average price of $123.28, for a total value of $52,096,895.20. Following the transaction, the insider owned 3,149,820 shares in the company, valued at approximately $388,309,809.60. The trade was a 11.83% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Company insiders own 0.62% of the company's stock.

AGCO Price Performance

Shares of AGCO stock opened at $115.34 on Friday. The firm has a fifty day simple moving average of $114.92 and a 200-day simple moving average of $118.01. The company has a market capitalization of $8.35 billion, a PE ratio of 11.12, a price-to-earnings-growth ratio of 0.76 and a beta of 1.07. AGCO Corporation has a twelve month low of $99.21 and a twelve month high of $143.78. The company has a current ratio of 1.29, a quick ratio of 0.57 and a debt-to-equity ratio of 0.47.

AGCO (NYSE:AGCO - Get Free Report) last released its quarterly earnings results on Tuesday, May 5th. The industrial products company reported $0.94 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.44 by $0.50. AGCO had a net margin of 7.43% and a return on equity of 9.99%. The firm had revenue of $2.34 billion for the quarter, compared to the consensus estimate of $2.26 billion. During the same quarter in the previous year, the firm posted $0.41 EPS. The firm's quarterly revenue was up 14.3% on a year-over-year basis. AGCO has set its FY 2026 guidance at 6.000-6.000 EPS. Equities research analysts anticipate that AGCO Corporation will post 6.07 earnings per share for the current fiscal year.

AGCO Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 15th. Stockholders of record on Friday, August 14th will be given a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a dividend yield of 1.0%. The ex-dividend date of this dividend is Friday, August 14th. AGCO's payout ratio is presently 11.57%.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on the stock. 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. Morgan Stanley reiterated an "underweight" rating and issued a $108.00 price target on shares of AGCO in a report on Thursday, May 14th. Weiss Ratings cut AGCO from a "buy (b-)" rating to a "hold (c+)" rating in a research note on Wednesday, May 27th. Truist Financial upped their target price on AGCO from $152.00 to $159.00 and gave the stock a "buy" rating in a research report on Thursday, July 2nd. Finally, DA Davidson started coverage on AGCO in a research report on Friday, July 10th. They issued a "buy" rating and a $160.00 target price for the company. Four investment analysts have rated the stock with a Buy rating, six have assigned a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat, AGCO has an average rating of "Hold" and a consensus target price of $129.45.

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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