AGCO Corporation $AGCO Shares Sold by Hotchkis & Wiley Capital Management LLC

Key Points

• Hotchkis & Wiley Capital Management LLC reduced its stake in AGCO Corporation by 68.1%, now owning 76,840 shares worth $7.1 million after selling 164,300 shares.
• The company announced a $1.00 billion stock buyback plan, allowing it to repurchase up to 12.2% of its stock, indicating management's belief that the shares are undervalued.
• AGCO reported earnings of $1.35 per share for the last quarter, exceeding analyst expectations, despite a year-over-year revenue decline of 18.8%.

Hotchkis & Wiley Capital Management LLC lessened its holdings in shares of AGCO Corporation (NYSE:AGCO - Free Report) by 68.1% during the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor owned 76,840 shares of the industrial products company's stock after selling 164,300 shares during the quarter. Hotchkis & Wiley Capital Management LLC owned about 0.10% of AGCO worth $7,113,000 as of its most recent filing with the SEC.

Several other hedge funds have also made changes to their positions in AGCO. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its position in shares of AGCO by 534.7% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 2,901,790 shares of the industrial products company's stock worth $271,259,000 after purchasing an additional 2,444,615 shares in the last quarter. Price T Rowe Associates Inc. MD lifted its position in shares of AGCO by 7.4% during the first quarter. Price T Rowe Associates Inc. MD now owns 6,985,474 shares of the industrial products company's stock worth $646,648,000 after purchasing an additional 481,146 shares in the last quarter. Bank of New York Mellon Corp lifted its position in shares of AGCO by 62.4% during the first quarter. Bank of New York Mellon Corp now owns 1,135,672 shares of the industrial products company's stock worth $105,129,000 after purchasing an additional 436,237 shares in the last quarter. Dimensional Fund Advisors LP lifted its position in shares of AGCO by 12.1% during the first quarter. Dimensional Fund Advisors LP now owns 3,346,046 shares of the industrial products company's stock worth $309,745,000 after purchasing an additional 361,965 shares in the last quarter. Finally, Millennium Management LLC acquired a new stake in shares of AGCO during the fourth quarter worth about $27,185,000. Institutional investors and hedge funds own 78.80% of the company's stock.

Insider Activity at AGCO

In other news, SVP Luis Fernando Sartini Felli sold 10,000 shares of the stock in a transaction that occurred on 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 sale, the senior vice president directly owned 16,189 shares in the company, valued at $1,771,076.60. This represents a 38.18% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 16.60% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several analysts have recently issued reports on the stock. Wall Street Zen raised shares of AGCO from a "hold" rating to a "buy" rating in a research report on Saturday, August 2nd. The Goldman Sachs Group raised their target price on shares of AGCO from $91.00 to $107.00 and gave the company a "neutral" rating in a report on Tuesday, May 27th. Citigroup reaffirmed a "neutral" rating and issued a $110.00 target price on shares of AGCO in a report on Friday, May 30th. JPMorgan Chase & Co. raised their target price on shares of AGCO from $130.00 to $137.00 and gave the company an "overweight" rating in a report on Friday, August 1st. Finally, UBS Group reaffirmed 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 research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating, five have given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, AGCO has a consensus rating of "Hold" and a consensus price target of $109.63.

AGCO Stock Performance

Shares of NYSE:AGCO traded down $5.10 on Friday, reaching $108.04. The company's stock had a trading volume of 802,076 shares, compared to its average volume of 862,803. The stock's 50-day moving average is $109.88 and its two-hundred day moving average is $100.05. AGCO Corporation has a 52-week low of $73.79 and a 52-week high of $121.16. The company has a debt-to-equity ratio of 0.66, a current ratio of 1.48 and a quick ratio of 0.67. The stock has a market capitalization of $8.06 billion, a P/E ratio of 80.63, a PEG ratio of 1.79 and a beta of 1.21.

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. AGCO had a net margin of 0.98% and a return on equity of 8.27%. The business had revenue of $2.64 billion during the quarter, compared to analysts' expectations of $2.52 billion. During the same period in the prior year, the company earned $2.53 earnings per share. The business's revenue 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, sell-side analysts forecast that AGCO Corporation will post 4.2 EPS for the current year.

AGCO announced that its board has approved a stock repurchase plan 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 purchase up to 12.2% of its stock through open market purchases. Stock repurchase plans are usually a sign that the company's board of directors believes its shares are undervalued.

AGCO Announces Dividend

The business also recently announced 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. This represents a $1.16 annualized dividend and a yield of 1.1%. The ex-dividend date is Friday, August 15th. AGCO's dividend payout ratio is presently 86.57%.

AGCO 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.