Deroy & Devereaux Private Investment Counsel Inc. Acquires 10,478 Shares of AGCO Corporation $AGCO

Key Points

• Deroy & Devereaux Private Investment Counsel Inc. increased its stake in AGCO Corporation by 30.1%, acquiring an additional 10,478 shares during the 2nd quarter, bringing its total holdings to approximately 45,343 shares.
• AGCO reported earnings of $1.35 per share for its last quarter, exceeding analysts' expectations, although its revenue decreased 18.8% year-over-year.
• The company has initiated a $1.00 billion stock repurchase program, allowing it to buy back up to 12.2% of its shares, signaling confidence in the company's valuations.

Deroy & Devereaux Private Investment Counsel Inc. lifted its holdings in shares of AGCO Corporation (NYSE:AGCO - Free Report) by 30.1% during the 2nd quarter, according to the company in its most recent filing with the SEC. The fund owned 45,343 shares of the industrial products company's stock after purchasing an additional 10,478 shares during the period. Deroy & Devereaux Private Investment Counsel Inc. owned about 0.06% of AGCO worth $4,678,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently made changes to their positions in the business. Fifth Third Wealth Advisors LLC bought a new stake in AGCO in the 2nd quarter worth $219,000. Blue Trust Inc. grew its holdings in AGCO by 16.8% in the 2nd quarter. Blue Trust Inc. now owns 2,229 shares of the industrial products company's stock worth $230,000 after acquiring an additional 321 shares during the last quarter. Callan Family Office LLC bought a new stake in AGCO in the 2nd quarter worth $560,000. Mirova US LLC grew its holdings in AGCO by 3.2% in the 2nd quarter. Mirova US LLC now owns 1,253,258 shares of the industrial products company's stock worth $129,286,000 after acquiring an additional 39,263 shares during the last quarter. Finally, KLP Kapitalforvaltning AS grew its holdings in AGCO by 17.4% in the 2nd quarter. KLP Kapitalforvaltning AS now owns 14,200 shares of the industrial products company's stock worth $1,465,000 after acquiring an additional 2,100 shares during the last quarter. Institutional investors own 78.80% of the company's stock.

AGCO Trading Up 3.0%

Shares of NYSE AGCO opened at $107.36 on Wednesday. AGCO Corporation has a 1 year low of $73.79 and a 1 year high of $121.16. The stock has a market cap of $8.01 billion, a P/E ratio of 80.12, a price-to-earnings-growth ratio of 1.66 and a beta of 1.23. The firm has a 50-day moving average of $109.93 and a 200 day moving average of $102.82. 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 issued its quarterly earnings results on Thursday, July 31st. The industrial products company reported $1.35 earnings per share (EPS) for the quarter, beating analysts' consensus estimates 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 analysts' expectations of $2.52 billion. During the same period last year, the company posted $2.53 EPS. AGCO's revenue was down 18.8% on a year-over-year basis. AGCO has set its FY 2025 guidance at 4.750-5.00 EPS. As a group, sell-side analysts expect that AGCO Corporation will post 4.2 EPS for the current fiscal year.

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

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on AGCO shares. JPMorgan Chase & Co. raised their price target on shares of AGCO from $135.00 to $136.00 and gave the stock an "overweight" rating in a report on Tuesday. Zacks Research lowered shares of AGCO from a "strong-buy" rating to a "hold" rating in a report on Friday, September 19th. Citigroup cut their price target on shares of AGCO from $125.00 to $120.00 and set a "neutral" rating on the stock in a report on Tuesday, September 23rd. UBS Group reissued a "neutral" rating and issued a $119.00 price target (up previously from $100.00) on shares of AGCO in a report on Friday, August 8th. Finally, Oppenheimer cut their price target on shares of AGCO from $124.00 to $123.00 and set an "outperform" rating on the stock in a report on Thursday, September 18th. Three research analysts have rated the stock with a Buy rating, seven have given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, AGCO currently has an average rating of "Hold" and an average price target of $116.38.

Insider Transactions at AGCO

In other AGCO news, SVP Luis Fernando Sartini Felli sold 10,000 shares of AGCO stock in a transaction dated Monday, August 11th. The shares were sold at an average price of $109.40, for a total value of $1,094,000.00. Following the completion of the transaction, the senior vice president directly 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 filing with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 16.90% of the company's stock.

About AGCO

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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