Cibc World Market Inc. Makes New Investment in AGCO Corporation $AGCO

Key Points

• CIBC World Markets purchased 14,294 AGCO shares worth approximately $1.71 million in the second quarter, while institutional ownership reached 78.8%.
• Analyst sentiment is mixed, with four Buy, six Hold and three Sell ratings; AGCO carries a consensus Hold rating and a $120.33 price target.
• AGCO’s latest quarterly results fell slightly short of expectations, with EPS of $1.43 versus $1.46 expected and revenue of $2.61 billion versus $2.75 billion forecast. The company maintained a $0.30 quarterly dividend, equal to a 1.1% yield.

Cibc World Market Inc. purchased a new position in AGCO Corporation (NYSE:AGCO - Free Report) in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 14,294 shares of the industrial products company's stock, valued at approximately $1,711,000.

Other hedge funds have also modified their holdings of the company. OMERS ADMINISTRATION Corp purchased a new stake in shares of AGCO in the second quarter worth $515,000. Connor Clark & Lunn Investment Management Ltd. purchased a new position in shares of AGCO during the 2nd quarter valued at $528,000. Bank of Nova Scotia bought a new position in AGCO in the 2nd quarter worth $409,000. Commerce Bank bought a new position in AGCO in the 2nd quarter worth $531,000. Finally, Northwestern Mutual Wealth Management Co. bought a new position in AGCO in the 2nd quarter worth $29,000. 78.80% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of research firms have commented on AGCO. Wall Street Zen cut AGCO from a "buy" rating to a "hold" rating in a report on Saturday, August 1st. DA Davidson set a $151.00 price objective on AGCO in a research report on Friday, July 31st. Citigroup dropped their price objective on AGCO from $125.00 to $115.00 and set a "neutral" rating for the company in a research note on Monday, August 3rd. Oppenheimer cut their target price on AGCO from $134.00 to $127.00 and set an "outperform" rating for the company in a research report on Friday, July 31st. Finally, Truist Financial reissued a "buy" rating and set a $135.00 target price (down from $159.00) on shares of AGCO in a research note on Friday, July 31st. Four equities research analysts have rated the stock with a Buy rating, six have issued a Hold rating and three have assigned a Sell rating to the company. According to MarketBeat, the company has a consensus rating of "Hold" and a consensus price target of $120.33.

Insider Transactions at AGCO

In related news, major shareholder & Farm Equipment Ltd Tractors sold 492,418 shares of the business's stock in a transaction dated Wednesday, August 5th. The stock was sold at an average price of $115.33, for a total value of $56,790,567.94. Following the sale, the insider directly owned 3,017,565 shares in the company, valued at approximately $348,015,771.45. The trade was a 14.03% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Lange Bob De purchased 1,000 shares of the company's stock in a transaction that occurred on Friday, August 14th. The shares were purchased at an average cost of $100.71 per share, with a total value of $100,710.00. Following the completion of the purchase, the director owned 18,717 shares of the company's stock, valued at $1,884,989.07. The trade was a 5.64% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. 0.62% of the stock is currently owned by insiders.

AGCO Price Performance

Shares of NYSE:AGCO opened at $110.81 on Friday. The firm has a market cap of $7.76 billion, a price-to-earnings ratio of 15.33, a P/E/G ratio of 0.93 and a beta of 1.08. The firm has a fifty day moving average price of $111.07 and a 200 day moving average price of $117.08. AGCO Corporation has a fifty-two week low of $98.22 and a fifty-two week high of $143.78. The company has a debt-to-equity ratio of 0.53, a quick ratio of 0.58 and a current ratio of 1.32.

AGCO (NYSE:AGCO - Get Free Report) last announced its quarterly earnings results on Thursday, July 30th. The industrial products company reported $1.43 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $1.46 by ($0.03). The company had revenue of $2.61 billion during the quarter, compared to the consensus estimate of $2.75 billion. AGCO had a net margin of 5.15% and a return on equity of 10.09%. The business's revenue was down 1.0% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.35 earnings per share. AGCO has set its FY 2026 guidance at 5.500-5.750 EPS. As a group, sell-side analysts expect that AGCO Corporation will post 5.54 earnings per share for the current fiscal year.

AGCO Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 15th. Stockholders of record on Friday, August 14th will be issued a $0.30 dividend. This represents a $1.20 annualized dividend and a dividend yield of 1.1%. The ex-dividend date of this dividend is Friday, August 14th. AGCO's payout ratio is 16.60%.

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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