Gotham Asset Management LLC Has $14.47 Million Position in AGCO Corporation $AGCO

Key Points

• Gotham Asset Management LLC increased its stake in AGCO Corporation by 36.1%, now owning 156,281 shares valued at approximately $14.47 million.
• AGCO reported quarterly earnings of $1.35 per share, exceeding estimates, despite a 18.8% decline in revenue compared to the same period last year.
• The company announced a $1 billion share buyback program, indicating management's confidence in the stock's value.

Gotham Asset Management LLC boosted its position in AGCO Corporation (NYSE:AGCO - Free Report) by 36.1% in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 156,281 shares of the industrial products company's stock after purchasing an additional 41,455 shares during the period. Gotham Asset Management LLC owned 0.21% of AGCO worth $14,467,000 at the end of the most recent quarter.

A number of other institutional investors have also recently made changes to their positions in AGCO. Mercer Global Advisors Inc. ADV bought a new stake in shares of AGCO in the 4th quarter valued at about $257,000. Ameriprise Financial Inc. boosted its position in shares of AGCO by 41.2% during the 4th quarter. Ameriprise Financial Inc. now owns 681,849 shares of the industrial products company's stock valued at $63,739,000 after purchasing an additional 199,038 shares in the last quarter. BNP Paribas Financial Markets boosted its position in shares of AGCO by 48.0% during the 4th quarter. BNP Paribas Financial Markets now owns 46,933 shares of the industrial products company's stock valued at $4,387,000 after purchasing an additional 15,220 shares in the last quarter. Bank of America Corp DE boosted its position in shares of AGCO by 257.7% during the 4th quarter. Bank of America Corp DE now owns 376,647 shares of the industrial products company's stock valued at $35,209,000 after purchasing an additional 271,356 shares in the last quarter. Finally, Centiva Capital LP bought a new stake in shares of AGCO during the 4th quarter valued at about $260,000. Institutional investors own 78.80% of the company's stock.

Wall Street Analyst Weigh In

A number of research analysts have recently weighed in on the company. Morgan Stanley raised their target price on AGCO from $75.00 to $84.00 and gave the company an "underweight" rating in a report on Monday, May 12th. Wall Street Zen raised AGCO from a "hold" rating to a "buy" rating in a research note on Saturday, August 2nd. JPMorgan Chase & Co. decreased their target price on AGCO from $137.00 to $135.00 and set an "overweight" rating for the company in a research report on Tuesday, September 2nd. The Goldman Sachs Group raised their price objective on AGCO from $91.00 to $107.00 and gave the company a "neutral" rating in a research report on Tuesday, May 27th. Finally, 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. One equities research analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating, five have issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the company has an average rating of "Hold" and an average price target of $109.38.

Insiders Place Their Bets

In other AGCO news, SVP Luis Fernando Sartini Felli sold 10,000 shares of the firm's stock in a transaction dated Monday, August 11th. The stock was sold at an average price of $109.40, for a total value of $1,094,000.00. Following the transaction, the senior vice president directly owned 16,189 shares of the company's stock, valued at $1,771,076.60. This trade represents a 38.18% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Insiders own 16.90% of the company's stock.

AGCO Stock Down 2.5%

NYSE AGCO traded down $2.77 during trading on Tuesday, reaching $107.55. 467,477 shares of the company's stock were exchanged, compared to its average volume of 710,357. AGCO Corporation has a 1 year low of $73.79 and a 1 year high of $121.16. 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 stock has a market cap of $8.03 billion, a P/E ratio of 80.26, a price-to-earnings-growth ratio of 1.74 and a beta of 1.20. The company has a 50 day moving average price of $110.83 and a two-hundred day moving average price of $100.61.

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

AGCO Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, September 15th. Stockholders of record on Friday, August 15th will be issued a dividend of $0.29 per share. The ex-dividend date is Friday, August 15th. This represents a $1.16 annualized dividend and a dividend yield of 1.1%. AGCO's dividend payout ratio (DPR) is 86.57%.

AGCO announced that its Board of Directors has approved a stock buyback program 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 shares through open market purchases. Shares buyback programs are usually an indication that the company's board of directors 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.