Jane Street Group LLC Has $19.62 Million Stock Holdings in AGCO Corporation $AGCO

Key Points

• Jane Street Group LLC has reduced its stake in AGCO Corporation by 55.7%, holding approximately 211,949 shares valued at $19.62 million after selling 266,044 shares in the last quarter.
• AGCO Corporation reported an earnings per share (EPS) of $1.35, which exceeded analyst expectations of $1.06, although revenue declined 18.8% year-over-year.
• The company announced a quarterly dividend of $0.29 per share, indicating a yield of 1.1%, along with a share repurchase program allowing for a buyback of up to $1 billion worth of its shares.

Jane Street Group LLC cut its holdings in shares of AGCO Corporation (NYSE:AGCO - Free Report) by 55.7% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 211,949 shares of the industrial products company's stock after selling 266,044 shares during the period. Jane Street Group LLC owned approximately 0.28% of AGCO worth $19,620,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Teacher Retirement System of Texas acquired a new position in shares of AGCO during the first quarter worth approximately $1,212,000. GAMMA Investing LLC boosted its position in shares of AGCO by 66.9% during 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 period. Envestnet Asset Management Inc. boosted its position in shares of AGCO by 9.0% during the first quarter. Envestnet Asset Management Inc. now owns 99,951 shares of the industrial products company's stock worth $9,252,000 after buying an additional 8,293 shares during the period. Baker Ellis Asset Management LLC boosted its position in shares of AGCO by 9.0% during the first quarter. Baker Ellis Asset Management LLC now owns 29,934 shares of the industrial products company's stock worth $2,771,000 after buying an additional 2,480 shares during the period. Finally, UMB Bank n.a. lifted its position in AGCO by 140.7% in the first quarter. UMB Bank n.a. now owns 811 shares of the industrial products company's stock worth $75,000 after purchasing an additional 474 shares during the period. 78.80% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at AGCO

In other 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 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 approximately $1,771,076.60. This represents a 38.18% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Company insiders own 16.90% of the company's stock.

AGCO Stock Up 1.2%

NYSE:AGCO traded up $1.28 during trading hours on Wednesday, hitting $108.02. 667,389 shares of the stock traded hands, compared to its average volume of 863,870. The firm has a 50 day moving average price of $110.23 and a 200 day moving average price of $100.31. The company has a current ratio of 1.48, a quick ratio of 0.67 and a debt-to-equity ratio of 0.66. AGCO Corporation has a fifty-two week low of $73.79 and a fifty-two week high of $121.16. The firm has a market cap of $8.06 billion, a price-to-earnings ratio of 80.72, a PEG ratio of 1.70 and a beta of 1.20.

AGCO (NYSE:AGCO - Get Free Report) last announced its 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 for the quarter, compared to the consensus estimate of $2.52 billion. During the same period in the previous year, the business earned $2.53 EPS. The company'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. Equities research analysts anticipate that AGCO Corporation will post 4.2 earnings per share for the current year.

AGCO declared that its board has authorized a share buyback program on Wednesday, July 9th that authorizes the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization authorizes 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 management believes its stock is undervalued.

AGCO Announces Dividend

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

Analysts Set New Price Targets

A number of equities research analysts have weighed in on the company. UBS Group restated a "neutral" rating and issued a $119.00 target price (up from $100.00) on shares of AGCO in a research report on Friday, August 8th. Wall Street Zen upgraded AGCO from a "hold" rating to a "buy" rating in a research report on Saturday, August 2nd. JPMorgan Chase & Co. cut 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. Zacks Research upgraded AGCO from a "hold" rating to a "strong-buy" rating in a research report on Monday, August 18th. Finally, Oppenheimer upped their target price on AGCO from $108.00 to $115.00 and gave the stock an "outperform" rating in a research report on Tuesday, July 15th. One equities research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating, five have assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average price target of $109.38.

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.