AGCO Corporation $AGCO Shares Sold by Advisors Asset Management Inc.

Key Points

• Advisors Asset Management Inc. significantly reduced its stake in AGCO Corporation by 41.6%, selling 26,040 shares, while still holding 36,594 shares valued at approximately $3.39 million.
• Several hedge funds have increased their positions in AGCO, with UBS AM notably boosting its stake by 534.7%, reflecting confidence in the company's future performance.
• AGCO reported better-than-expected quarterly earnings with $1.35 per share, surpassing estimates, alongside a newly authorized $1 billion stock buyback plan indicating potential undervaluation of its shares.

Advisors Asset Management Inc. trimmed its position in AGCO Corporation (NYSE:AGCO - Free Report) by 41.6% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 36,594 shares of the industrial products company's stock after selling 26,040 shares during the quarter. Advisors Asset Management Inc.'s holdings in AGCO were worth $3,388,000 at the end of the most recent quarter.

Other large investors have also made changes to their positions in the company. Citizens National Bank Trust Department boosted its position in shares of AGCO by 400.0% during the first quarter. Citizens National Bank Trust Department now owns 300 shares of the industrial products company's stock worth $28,000 after acquiring an additional 240 shares during the last quarter. Caitong International Asset Management Co. Ltd purchased a new position in shares of AGCO during the first quarter valued at approximately $32,000. Quarry LP bought a new position in shares of AGCO in the first quarter worth about $37,000. Brooklyn Investment Group raised its position in AGCO by 98.7% during the 1st quarter. Brooklyn Investment Group now owns 590 shares of the industrial products company's stock valued at $55,000 after purchasing an additional 293 shares in the last quarter. Finally, Abound Wealth Management purchased a new stake in shares of AGCO in the 1st quarter worth approximately $56,000. 78.80% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at AGCO

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 stock was sold at an average price of $109.40, for a total transaction of $1,094,000.00. Following the transaction, the senior vice president owned 16,189 shares of the company's stock, valued at $1,771,076.60. This represents a 38.18% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. 16.60% of the stock is owned by corporate insiders.

AGCO Stock Up 1.6%

Shares of NYSE:AGCO traded up $1.73 during trading on Thursday, hitting $109.15. 1,160,508 shares of the company were exchanged, compared to its average volume of 659,897. The stock has a market capitalization of $8.14 billion, a P/E ratio of 81.46, a PEG ratio of 1.69 and a beta of 1.20. AGCO Corporation has a 12-month low of $73.79 and a 12-month high of $121.16. The firm's 50 day moving average price is $110.76 and its 200-day moving average price is $100.74. 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 (NYSE:AGCO - Get Free Report) last posted its quarterly earnings data on Thursday, July 31st. The industrial products company reported $1.35 earnings per share for the quarter, beating the consensus estimate of $1.06 by $0.29. AGCO had a return on equity of 8.27% and a net margin of 0.98%.The business had revenue of $2.64 billion during the quarter, compared to the consensus estimate of $2.52 billion. During the same period in the prior year, the company earned $2.53 earnings per share. The company's revenue was down 18.8% compared to the same quarter last year. AGCO has set its FY 2025 guidance at 4.750-5.00 EPS. On average, research analysts predict that AGCO Corporation will post 4.2 earnings per share for the current fiscal year.

AGCO declared that its Board of Directors has authorized a stock repurchase program on Wednesday, July 9th that authorizes the company to buyback $1.00 billion in outstanding shares. This buyback authorization authorizes the industrial products company to repurchase up to 12.2% of its stock through open market purchases. Stock buyback programs are usually a sign that the company's management believes its stock is undervalued.

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. This represents a $1.16 dividend on an annualized basis and a dividend yield of 1.1%. The ex-dividend date is Friday, August 15th. AGCO's payout ratio is 86.57%.

Analyst Ratings Changes

A number of equities analysts have recently issued reports on the company. The Goldman Sachs Group upped their price target on AGCO from $91.00 to $107.00 and gave the stock a "neutral" rating in a research report on Tuesday, May 27th. JPMorgan Chase & Co. decreased their target price on AGCO from $137.00 to $135.00 and set an "overweight" rating on the stock in a research report on Tuesday, September 2nd. Wall Street Zen upgraded shares of AGCO from a "hold" rating to a "buy" rating in a research report on Saturday, August 2nd. 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. Finally, Zacks Research upgraded AGCO from a "hold" rating to a "strong-buy" rating in a research note on Monday, August 18th. One investment 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 assigned a Sell rating to the company. According to MarketBeat.com, the company currently has an average rating of "Hold" and a consensus target price of $109.38.

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.