Corient IA LLC Acquires Shares of 3,000 AGCO Corporation $AGCO

Key Points

• Corient IA LLC invested $278,000 in AGCO Corporation by purchasing 3,000 shares, marking the firm's first position in the company.
• AGCO's quarterly earnings report demonstrated a significant surge in earnings per share to $1.35, surpassing estimates, despite an 18.8% decline in revenue year-over-year.
• The company's Board of Directors authorized a $1.00 billion share buyback plan, indicating confidence in the stock's valuation amid recent performance challenges.

Corient IA LLC purchased a new stake in shares of AGCO Corporation (NYSE:AGCO - Free Report) during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund purchased 3,000 shares of the industrial products company's stock, valued at approximately $278,000.

Other large investors have also added to or reduced their stakes in the company. GeoWealth Management LLC purchased a new position in AGCO during the fourth quarter valued at approximately $27,000. Citizens National Bank Trust Department lifted its holdings in AGCO by 400.0% during the first quarter. Citizens National Bank Trust Department now owns 300 shares of the industrial products company's stock valued at $28,000 after purchasing an additional 240 shares in the last quarter. Caitong International Asset Management Co. Ltd purchased a new position in AGCO during the first quarter valued at approximately $32,000. Abound Wealth Management purchased a new position in AGCO during the first quarter valued at approximately $56,000. Finally, UMB Bank n.a. lifted its holdings in AGCO by 140.7% during the first quarter. UMB Bank n.a. now owns 811 shares of the industrial products company's stock valued at $75,000 after purchasing an additional 474 shares in the last quarter. Hedge funds and other institutional investors own 78.80% of the company's stock.

AGCO Price Performance

AGCO traded up $4.6920 during trading hours on Friday, hitting $116.5820. The company's stock had a trading volume of 604,567 shares, compared to its average volume of 953,488. The business's 50-day moving average price is $108.98 and its 200-day moving average price is $99.66. AGCO Corporation has a 12 month low of $73.79 and a 12 month high of $121.16. The stock has a market cap of $8.70 billion, a price-to-earnings ratio of 87.00, a P/E/G ratio of 1.76 and a beta of 1.21. The company has a current ratio of 1.48, a quick ratio of 0.67 and a debt-to-equity ratio of 0.66.

AGCO (NYSE:AGCO - Get Free Report) last announced its quarterly earnings results on Thursday, July 31st. The industrial products company reported $1.35 earnings per share for the quarter, topping the consensus estimate of $1.06 by $0.29. AGCO had a net margin of 0.98% and a return on equity of 8.27%. The company had revenue of $2.64 billion for the quarter, compared to analysts' expectations of $2.52 billion. During the same quarter in the previous year, the business posted $2.53 earnings per share. AGCO's quarterly revenue was down 18.8% on a year-over-year basis. AGCO has set its FY 2025 guidance at 4.750-5.00 EPS. Sell-side analysts expect that AGCO Corporation will post 4.2 earnings per share for the current fiscal year.

AGCO declared that its board has authorized a share buyback plan 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 stock through open market purchases. Stock buyback plans are usually a sign that the company's leadership believes its stock is undervalued.

AGCO Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, September 15th. Shareholders of record on Friday, August 15th will be given 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 payout ratio is 86.57%.

Insiders Place Their Bets

In other AGCO news, SVP Luis Fernando Sartini Felli sold 10,000 shares of the business's stock in a transaction on Monday, August 11th. The shares were 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 in the company, valued at $1,771,076.60. The trade was a 38.18% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 16.60% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

Several brokerages have weighed in on AGCO. Wall Street Zen raised shares of AGCO from a "hold" rating to a "buy" rating in a report on Saturday, August 2nd. The Goldman Sachs Group boosted their target price on shares of AGCO from $91.00 to $107.00 and gave the stock a "neutral" rating in a report on Tuesday, May 27th. Morgan Stanley boosted their target price on shares of AGCO from $75.00 to $84.00 and gave the stock an "underweight" rating in a report on Monday, May 12th. UBS Group reissued a "neutral" rating and issued a $119.00 target price (up previously from $100.00) on shares of AGCO in a report on Friday, August 8th. Finally, Oppenheimer boosted their target price on shares of AGCO from $108.00 to $115.00 and gave the stock an "outperform" rating in a report on Tuesday, July 15th. One equities research analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating, five have assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, AGCO has an average rating of "Hold" and a consensus price target of $109.63.

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.