Gotham Asset Management LLC Raises 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 grew its position in shares of AGCO Corporation (NYSE:AGCO - Free Report) by 36.1% during the first quarter, according to its most recent disclosure with the Securities and 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 quarter. Gotham Asset Management LLC owned approximately 0.21% of AGCO worth $14,467,000 as of its most recent SEC filing.

A number of other hedge funds have also recently made changes to their positions in the company. Citizens National Bank Trust Department boosted its position in AGCO by 400.0% during the 1st quarter. Citizens National Bank Trust Department now owns 300 shares of the industrial products company's stock worth $28,000 after buying an additional 240 shares during the period. Caitong International Asset Management Co. Ltd acquired a new position in shares of AGCO during the first quarter worth $32,000. Quarry LP acquired a new position in AGCO during the 1st quarter worth about $37,000. Brooklyn Investment Group lifted its stake in shares of AGCO by 98.7% in the first quarter. Brooklyn Investment Group now owns 590 shares of the industrial products company's stock worth $55,000 after acquiring an additional 293 shares during the period. Finally, Abound Wealth Management acquired a new position in shares of AGCO in the 1st quarter worth approximately $56,000. 78.80% of the stock is owned by institutional investors and hedge funds.

AGCO Stock Down 0.6%

AGCO stock traded down $0.61 during trading on Friday, reaching $108.58. 166,234 shares of the stock were exchanged, compared to its average volume of 859,275. The firm's 50 day moving average is $110.76 and its 200 day moving average is $100.74. AGCO Corporation has a twelve month low of $73.79 and a twelve month high of $121.16. The company has a current ratio of 1.48, a quick ratio of 0.67 and a debt-to-equity ratio of 0.66. The firm has a market cap of $8.10 billion, a P/E ratio of 81.07, a price-to-earnings-growth ratio of 1.69 and a beta of 1.20.

AGCO (NYSE:AGCO - Get Free Report) last posted its quarterly earnings results on Thursday, July 31st. The industrial products company reported $1.35 earnings per share for the quarter, topping analysts' consensus estimates of $1.06 by $0.29. AGCO had a return on equity of 8.27% and a net margin of 0.98%.The business had revenue of $2.64 billion for the quarter, compared to the consensus estimate of $2.52 billion. During the same period in the prior year, the business earned $2.53 EPS. The firm's revenue for the quarter 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, research analysts forecast that AGCO Corporation will post 4.2 EPS for the current year.

AGCO announced that its board has authorized a share buyback program on Wednesday, July 9th that allows the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization allows the industrial products company to buy up to 12.2% of its stock through open market purchases. Stock repurchase programs are generally a sign that the company's board of directors believes its stock is undervalued.

AGCO Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, September 15th. Stockholders of record on Friday, August 15th will be given a dividend of $0.29 per share. This represents a $1.16 dividend on an annualized basis and a dividend yield of 1.1%. The ex-dividend date of this dividend is Friday, August 15th. AGCO's dividend payout ratio is presently 86.57%.

Insiders Place Their Bets

In other AGCO news, SVP Luis Fernando Sartini Felli sold 10,000 shares of the company'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 approximately $1,771,076.60. This represents a 38.18% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Insiders own 16.60% of the company's stock.

Analyst Ratings Changes

AGCO has been the topic of a number of recent analyst reports. UBS Group restated a "neutral" rating and issued a $119.00 price target (up previously from $100.00) on shares of AGCO in a research report on Friday, August 8th. Oppenheimer boosted their target price on shares of AGCO from $108.00 to $115.00 and gave the company an "outperform" rating in a report on Tuesday, July 15th. Citigroup reissued a "neutral" rating and issued a $110.00 price objective on shares of AGCO in a research note on Friday, May 30th. JPMorgan Chase & Co. dropped their price objective on AGCO from $137.00 to $135.00 and set an "overweight" rating on the stock in a research note on Tuesday, September 2nd. Finally, Zacks Research raised AGCO from a "hold" rating to a "strong-buy" rating in a research note on Monday, August 18th. 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 issued a Sell rating to the company's stock. Based on data from MarketBeat, the company presently has a consensus rating of "Hold" and a consensus price target of $109.38.

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.