Baader Bank Aktiengesellschaft Invests $310,000 in AGCO Corporation (NYSE:AGCO)

Key Points

• Baader Bank Aktiengesellschaft recently acquired a stake of 3,681 shares in AGCO Corporation, amounting to approximately $310,000 during the first quarter.
• AGCO's stock has seen a 10.3% increase and is currently priced at $117.66, with a market cap of $8.78 billion.
• The company has announced a $1.00 billion stock buyback plan and a quarterly dividend of $0.29 per share, reflecting confidence in its stock value despite recent revenue declines.

Baader Bank Aktiengesellschaft acquired a new position in AGCO Corporation (NYSE:AGCO - Free Report) in the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 3,681 shares of the industrial products company's stock, valued at approximately $310,000.

Several other institutional investors also recently bought and sold shares of AGCO. Price T Rowe Associates Inc. MD boosted its stake in AGCO by 128.2% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 6,504,328 shares of the industrial products company's stock worth $608,026,000 after buying an additional 3,654,350 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its stake in AGCO by 534.7% during 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 worth $271,259,000 after acquiring an additional 2,444,615 shares in the last quarter. Invesco Ltd. lifted its stake in AGCO by 68.7% during the 4th quarter. Invesco Ltd. now owns 2,360,301 shares of the industrial products company's stock worth $220,641,000 after acquiring an additional 961,081 shares in the last quarter. Lord Abbett & CO. LLC acquired a new stake in AGCO in the 4th quarter valued at about $62,022,000. Finally, Norges Bank acquired a new stake in AGCO in the 4th quarter valued at about $57,321,000. 78.80% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

AGCO has been the topic of a number of recent analyst reports. UBS Group set a $106.00 price objective on AGCO in a report on Tuesday, April 22nd. Truist Financial decreased their price objective on AGCO from $125.00 to $105.00 and set a "buy" rating for the company in a research report on Tuesday, April 8th. The Goldman Sachs Group raised their price target on AGCO from $91.00 to $107.00 and gave the company a "neutral" rating in a report on Tuesday, May 27th. Morgan Stanley raised their price target on AGCO from $75.00 to $84.00 and gave the company an "underweight" rating in a report on Monday, May 12th. Finally, Wall Street Zen raised AGCO from a "hold" rating to a "buy" rating in a report on Saturday. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and four have issued a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of "Hold" and an average target price of $106.67.

Insider Buying and Selling

In other news, SVP Kelvin Eugene Bennett sold 250 shares of AGCO stock in a transaction that occurred on Tuesday, May 13th. The shares were sold at an average price of $106.18, for a total value of $26,545.00. Following the completion of the transaction, the senior vice president owned 17,380 shares in the company, valued at approximately $1,845,408.40. The trade was a 1.42% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. 16.60% of the stock is currently owned by corporate insiders.

AGCO Stock Down 3.9%

Shares of AGCO traded down $4.55 during mid-day trading on Friday, reaching $113.42. The company's stock had a trading volume of 1,600,863 shares, compared to its average volume of 823,329. The business has a fifty day moving average of $105.41 and a 200 day moving average of $98.70. The company has a market cap of $8.46 billion, a price-to-earnings ratio of 84.64, a price-to-earnings-growth ratio of 1.78 and a beta of 1.21. AGCO Corporation has a 1 year low of $73.79 and a 1 year high of $121.16. The company has a quick ratio of 0.67, a current ratio of 1.48 and a debt-to-equity ratio of 0.66.

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 firm had revenue of $2.64 billion for 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 business's quarterly revenue was down 18.8% on a year-over-year basis. During the same period in the prior year, the business posted $2.53 earnings per share. As a group, analysts forecast that AGCO Corporation will post 4.2 earnings per share for the current fiscal year.

AGCO Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, September 15th. Shareholders of record on Friday, August 15th will be paid a dividend of $0.29 per share. The ex-dividend date is Friday, August 15th. This represents a $1.16 dividend on an annualized basis and a yield of 1.0%. AGCO's dividend payout ratio (DPR) is currently -14.87%.

AGCO declared that its Board of Directors has initiated a stock repurchase plan on Wednesday, July 9th that permits the company to repurchase $1.00 billion in shares. This repurchase authorization permits the industrial products company to buy up to 12.2% of its shares through open market purchases. Shares repurchase plans are often a sign that the company's leadership believes its shares are undervalued.

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.