AGCO Corporation $AGCO Shares Sold by T. Rowe Price Investment Management Inc.

Key Points

• T. Rowe Price Investment Management Inc. reduced its stake in AGCO Corporation by 17.0%, selling 113,699 shares, and now holds 553,641 shares valued at approximately $51.25 million.
• Institutional ownership of AGCO stands at 78.80%, with notable increases from several firms, including a 128.2% increase by Price T Rowe Associates Inc. MD.
• AGCO last reported earnings of $1.35 per share, exceeding expectations, with a dividend announcement of $0.29 per share to be paid soon, reflecting a yield of 1.0%.

T. Rowe Price Investment Management Inc. lessened its stake in AGCO Corporation (NYSE:AGCO - Free Report) by 17.0% during the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 553,641 shares of the industrial products company's stock after selling 113,699 shares during the period. T. Rowe Price Investment Management Inc. owned 0.74% of AGCO worth $51,251,000 as of its most recent SEC filing.

Several other institutional investors have also recently added to or reduced their stakes in AGCO. Price T Rowe Associates Inc. MD increased its position in AGCO by 128.2% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 6,504,328 shares of the industrial products company's stock valued at $608,026,000 after acquiring an additional 3,654,350 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its position in AGCO by 534.7% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 2,901,790 shares of the industrial products company's stock valued at $271,259,000 after acquiring an additional 2,444,615 shares during the period. Lord Abbett & CO. LLC acquired a new position in AGCO in the 4th quarter valued at about $62,022,000. Bank of New York Mellon Corp increased its position in AGCO by 62.4% in the 1st quarter. Bank of New York Mellon Corp now owns 1,135,672 shares of the industrial products company's stock valued at $105,129,000 after acquiring an additional 436,237 shares during the period. Finally, Dimensional Fund Advisors LP increased its position in AGCO by 12.1% in the 1st quarter. Dimensional Fund Advisors LP now owns 3,346,046 shares of the industrial products company's stock valued at $309,745,000 after acquiring an additional 361,965 shares during the period. Institutional investors and hedge funds own 78.80% of the company's stock.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on AGCO shares. Morgan Stanley boosted their price target on AGCO from $75.00 to $84.00 and gave the company an "underweight" rating in a research report on Monday, May 12th. UBS Group reiterated a "neutral" rating and set a $119.00 target price (up previously from $100.00) on shares of AGCO in a research report on Friday, August 8th. JPMorgan Chase & Co. boosted their target price on AGCO from $130.00 to $137.00 and gave the stock an "overweight" rating in a research report on Friday, August 1st. Wall Street Zen upgraded AGCO from a "hold" rating to a "buy" rating in a research report on Saturday, August 2nd. Finally, Citigroup reiterated a "neutral" rating and set a $110.00 target price on shares of AGCO in a research report on Friday, May 30th. One research analyst has rated the stock with a Strong Buy rating, three have issued 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 currently has a consensus rating of "Hold" and an average target price of $109.63.

AGCO Price Performance

Shares of NYSE:AGCO opened at $116.5820 on Friday. The business's 50 day simple moving average is $108.98 and its 200-day simple moving average is $99.66. The firm has a market capitalization of $8.70 billion, a price-to-earnings ratio of 87.00, a price-to-earnings-growth ratio of 1.76 and a beta of 1.21. The company has a debt-to-equity ratio of 0.66, a current ratio of 1.48 and a quick ratio of 0.67. AGCO Corporation has a 12 month low of $73.79 and a 12 month high of $121.16.

AGCO (NYSE:AGCO - Get Free Report) last announced its quarterly 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 business had revenue of $2.64 billion for the quarter, compared to analyst estimates of $2.52 billion. AGCO had a return on equity of 8.27% and a net margin of 0.98%.The company's quarterly revenue was down 18.8% on a year-over-year basis. During the same quarter in the previous year, the company earned $2.53 EPS. AGCO has set its FY 2025 guidance at 4.750-5.00 EPS. As a group, equities analysts forecast that AGCO Corporation will post 4.2 earnings per share for the current fiscal year.

AGCO Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, September 15th. Stockholders of record on Friday, August 15th will be paid a dividend of $0.29 per share. The ex-dividend date of this dividend is Friday, August 15th. This represents a $1.16 annualized dividend and a dividend yield of 1.0%. AGCO's payout ratio is 86.57%.

AGCO announced that its Board of Directors has approved a stock buyback program on Wednesday, July 9th that permits the company to buyback $1.00 billion in outstanding shares. This buyback authorization permits the industrial products company to buy up to 12.2% of its shares through open market purchases. Shares buyback programs are often a sign that the company's board of directors believes its shares are undervalued.

Insider Activity at AGCO

In other news, SVP Luis Fernando Sartini Felli sold 10,000 shares of the business's stock in a transaction that occurred on 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 owned 16,189 shares of the company's stock, valued at $1,771,076.60. The trade was a 38.18% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 16.60% of the stock is owned by company insiders.

AGCO 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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