Jane Street Group LLC Decreases Stock Holdings in AGCO Corporation $AGCO

Key Points

• Jane Street Group LLC has significantly reduced its stake in AGCO Corporation by 55.7%, now holding approximately 0.28% of the company worth around $19.6 million.
• Other hedge funds have increased their positions in AGCO, with Price T. Rowe Associates lifting its holdings by 7.4% and UBS AM increasing theirs by 14%.
• AGCO's Board has initiated a $1 billion share repurchase plan, signaling confidence in the company's undervalued stock, and also declared a quarterly dividend of $0.29 per share, reflecting a 1.1% yield.

Jane Street Group LLC trimmed its holdings in shares of AGCO Corporation (NYSE:AGCO - Free Report) by 55.7% in the 1st quarter, according to its most recent disclosure with the SEC. The fund 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 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Price T Rowe Associates Inc. MD grew its position in shares of AGCO by 7.4% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 6,985,474 shares of the industrial products company's stock valued at $646,648,000 after acquiring an additional 481,146 shares during the period. Dimensional Fund Advisors LP lifted its stake in AGCO by 12.1% in the 1st 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. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its stake in AGCO by 14.0% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 3,306,812 shares of the industrial products company's stock worth $306,112,000 after purchasing an additional 405,022 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its stake in AGCO by 534.7% in the 4th 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. Finally, Davis Selected Advisers lifted its stake in AGCO by 1.8% in the 1st quarter. Davis Selected Advisers now owns 2,027,266 shares of the industrial products company's stock worth $187,664,000 after purchasing an additional 35,909 shares in the last quarter. Institutional investors own 78.80% of the company's stock.

Wall Street Analysts Forecast Growth

Several analysts have recently issued reports on the stock. The Goldman Sachs Group upped their target price on shares of AGCO from $91.00 to $107.00 and gave the company a "neutral" rating in a research report on Tuesday, May 27th. Oppenheimer upped their price target on shares of AGCO from $108.00 to $115.00 and gave the company an "outperform" rating in a report on Tuesday, July 15th. JPMorgan Chase & Co. cut their price target on shares of AGCO from $137.00 to $135.00 and set an "overweight" rating on the stock in a report on Tuesday, September 2nd. UBS Group reiterated a "neutral" rating and set a $119.00 price target (up from $100.00) on shares of AGCO in a report on Friday, August 8th. Finally, Wall Street Zen upgraded shares of AGCO from a "hold" rating to a "buy" rating in a report on Saturday, August 2nd. One 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 given a Sell rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of "Hold" and a consensus target price of $109.38.

Insiders Place Their Bets

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

AGCO Price Performance

AGCO traded up $0.77 on Thursday, reaching $110.07. 107,641 shares of the company's stock were exchanged, compared to its average volume of 856,374. The stock has a market cap of $8.21 billion, a PE ratio of 82.14, a P/E/G ratio of 1.75 and a beta of 1.20. AGCO Corporation has a twelve month low of $73.79 and a twelve month high of $121.16. The stock's fifty day moving average price is $110.78 and its 200-day moving average price is $101.09. 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 released 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. The business had revenue of $2.64 billion for the quarter, compared to the consensus estimate of $2.52 billion. AGCO had a net margin of 0.98% and a return on equity of 8.27%. The business's revenue was down 18.8% on a year-over-year basis. During the same period in the previous year, the firm earned $2.53 EPS. AGCO has set its FY 2025 guidance at 4.750-5.00 EPS. Sell-side analysts expect that AGCO Corporation will post 4.2 EPS for the current year.

AGCO Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, September 15th. Investors of record on Friday, August 15th were given a $0.29 dividend. This represents a $1.16 dividend on an annualized basis and a dividend yield of 1.1%. The ex-dividend date of this dividend was Friday, August 15th. AGCO's dividend payout ratio (DPR) is 86.57%.

AGCO declared that its Board of Directors has initiated a share repurchase program on Wednesday, July 9th that allows the company to buyback $1.00 billion in shares. This buyback authorization allows the industrial products company to buy up to 12.2% of its stock through open market purchases. Stock buyback programs are usually an indication that the company's management believes its stock is 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.