DekaBank Deutsche Girozentrale Reduces Holdings in AGCO Corporation $AGCO

Key Points

• DekaBank Deutsche Girozentrale reduced its stake in AGCO Corporation by 1.7%, now owning approximately 1.33% of the company, valued at $101.99 million after selling 17,471 shares.
• Despite DekaBank's reduction, other hedge funds like UBS AM and GAMMA Investing have increased their holdings in AGCO, indicating varying institutional interest in the stock.
• AGCO reported earnings of $1.35 per share for the last quarter, exceeding expectations, but the company's revenue fell 18.8% compared to the same period last year, highlighting concerns about its performance.

DekaBank Deutsche Girozentrale lowered its position in shares of AGCO Corporation (NYSE:AGCO - Free Report) by 1.7% during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 995,210 shares of the industrial products company's stock after selling 17,471 shares during the period. DekaBank Deutsche Girozentrale owned approximately 1.33% of AGCO worth $101,990,000 as of its most recent SEC filing.

Other hedge funds also recently made changes to their positions in the company. Teacher Retirement System of Texas purchased a new stake in shares of AGCO during the first quarter valued at approximately $1,212,000. GAMMA Investing LLC increased its stake in shares of AGCO by 66.9% in the first quarter. GAMMA Investing LLC now owns 908 shares of the industrial products company's stock worth $84,000 after buying an additional 364 shares during the last quarter. Inspire Investing LLC increased its stake in shares of AGCO by 64.0% in the first quarter. Inspire Investing LLC now owns 7,051 shares of the industrial products company's stock worth $653,000 after buying an additional 2,752 shares during the last quarter. Voya Investment Management LLC increased its stake in shares of AGCO by 4.2% in the first quarter. Voya Investment Management LLC now owns 8,954 shares of the industrial products company's stock worth $829,000 after buying an additional 364 shares during the last quarter. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its stake in shares of AGCO by 14.0% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 3,306,812 shares of the industrial products company's stock worth $306,112,000 after buying an additional 405,022 shares during the last quarter. Hedge funds and other institutional investors own 78.80% of the company's stock.

Analyst Upgrades and Downgrades

AGCO has been the subject of a number of research analyst reports. Citigroup dropped their price target on shares of AGCO from $125.00 to $120.00 and set a "neutral" rating for the company in a research note on Tuesday, September 23rd. JPMorgan Chase & Co. boosted their target price on shares of AGCO from $135.00 to $136.00 and gave the company an "overweight" rating in a research note on Tuesday, October 14th. Weiss Ratings reiterated a "hold (c-)" rating on shares of AGCO in a research note on Wednesday, October 8th. Oppenheimer lowered their target price on shares of AGCO from $124.00 to $123.00 and set an "outperform" rating for the company in a research note on Thursday, September 18th. Finally, Zacks Research lowered shares of AGCO from a "strong-buy" rating to a "hold" rating in a research note on Friday, September 19th. Three analysts have rated the stock with a Buy rating, eight have issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus price target of $116.33.

Insider Activity

In other 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 completion of the transaction, the senior vice president owned 16,189 shares of the company's stock, valued at approximately $1,771,076.60. The trade was a 38.18% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Company insiders own 16.90% of the company's stock.

AGCO Stock Performance

Shares of AGCO opened at $107.96 on Tuesday. AGCO Corporation has a 1 year low of $73.79 and a 1 year high of $121.16. The company has a market cap of $8.06 billion, a price-to-earnings ratio of 80.57, a price-to-earnings-growth ratio of 1.71 and a beta of 1.23. The company has a debt-to-equity ratio of 0.66, a quick ratio of 0.67 and a current ratio of 1.48. The firm has a fifty day moving average of $109.66 and a 200-day moving average of $103.49.

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 (EPS) for the quarter, beating 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 during the quarter, compared to the consensus estimate of $2.52 billion. During the same quarter in the previous year, the company posted $2.53 earnings per share. The company's revenue for the quarter was down 18.8% compared to the same quarter last year. AGCO has set its FY 2025 guidance at 4.750-5.00 EPS. As a group, equities analysts anticipate that AGCO Corporation will post 4.2 earnings per share for the current year.

AGCO announced that its board has authorized a stock repurchase program on Wednesday, July 9th that authorizes the company to repurchase $1.00 billion in shares. This repurchase authorization authorizes the industrial products company to reacquire up to 12.2% of its shares through open market purchases. Shares repurchase programs are usually a sign that the company's leadership believes its stock is 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.

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