AGCO Corporation $AGCO Shares Sold by Jump Financial LLC

Key Points

• Jump Financial LLC has reduced its stake in AGCO Corporation by 18.7%, holding 118,160 shares valued at approximately $10.9 million after selling 27,264 shares.
• AGCO's stock price target has been raised by various analysts, with Goldman Sachs increasing it to $107.00 and JPMorgan Chase & Co. setting it at $137.00, while maintaining an overall "Hold" rating.
• The company has announced a $1.00 billion stock buyback program and a quarterly dividend of $0.29, reflecting confidence in its share value amidst changing investor positions.

Jump Financial LLC trimmed its holdings in shares of AGCO Corporation (NYSE:AGCO - Free Report) by 18.7% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 118,160 shares of the industrial products company's stock after selling 27,264 shares during the quarter. Jump Financial LLC owned 0.16% of AGCO worth $10,938,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also made changes to their positions in the company. GeoWealth Management LLC bought a new stake in shares of AGCO in the fourth quarter valued at about $27,000. Citizens National Bank Trust Department raised its holdings in shares of AGCO by 400.0% in the first quarter. Citizens National Bank Trust Department now owns 300 shares of the industrial products company's stock valued at $28,000 after acquiring an additional 240 shares in the last quarter. Caitong International Asset Management Co. Ltd bought a new stake in shares of AGCO in the first quarter valued at about $32,000. Brooklyn Investment Group raised its holdings 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 valued at $55,000 after acquiring an additional 293 shares in the last quarter. Finally, Abound Wealth Management bought a new stake in shares of AGCO in the first quarter valued at about $56,000. 78.80% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other AGCO news, SVP Luis Fernando Sartini Felli sold 10,000 shares of the business's stock in a transaction that occurred on 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 completion of the transaction, the senior vice president directly owned 16,189 shares of the company's stock, valued at approximately $1,771,076.60. The trade was a 38.18% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 16.60% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

Several research firms have issued reports on AGCO. JPMorgan Chase & Co. lifted their target price on AGCO from $130.00 to $137.00 and gave the company an "overweight" rating in a research note on Friday, August 1st. Morgan Stanley lifted their target price on AGCO from $75.00 to $84.00 and gave the company an "underweight" rating in a research note on Monday, May 12th. Oppenheimer lifted their target price on AGCO from $108.00 to $115.00 and gave the company an "outperform" rating in a research note on Tuesday, July 15th. UBS Group reiterated a "neutral" rating and issued a $119.00 target price (up previously from $100.00) on shares of AGCO in a research note on Friday, August 8th. Finally, The Goldman Sachs Group lifted their target price on AGCO from $91.00 to $107.00 and gave the company a "neutral" rating in a research note on Tuesday, May 27th. One 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 given a Sell rating to the company. Based on data from MarketBeat.com, the stock has an average rating of "Hold" and an average target price of $109.63.

AGCO Stock Performance

NYSE AGCO traded down $0.69 during trading hours on Thursday, reaching $113.17. The stock had a trading volume of 427,341 shares, compared to its average volume of 863,597. The stock has a fifty day moving average of $109.66 and a 200 day moving average of $99.94. The stock has a market cap of $8.44 billion, a P/E ratio of 84.45, a price-to-earnings-growth ratio of 1.77 and a beta of 1.21. 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 quick ratio of 0.67 and a current ratio of 1.48.

AGCO (NYSE:AGCO - Get Free Report) last issued 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 firm had revenue of $2.64 billion for the quarter, compared to analyst estimates of $2.52 billion. AGCO had a return on equity of 8.27% and a net margin of 0.98%.AGCO's revenue for the quarter was down 18.8% on a year-over-year basis. During the same quarter in the prior year, the firm earned $2.53 earnings per share. AGCO has set its FY 2025 guidance at 4.750-5.00 EPS. Sell-side analysts predict that AGCO Corporation will post 4.2 earnings per share for the current year.

AGCO declared that its Board of Directors has initiated a share buyback plan on Wednesday, July 9th that authorizes the company to repurchase $1.00 billion in shares. This repurchase authorization authorizes the industrial products company to purchase up to 12.2% of its shares through open market purchases. Shares repurchase plans are usually 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. Investors of record on Friday, August 15th will be given a $0.29 dividend. The ex-dividend date is Friday, August 15th. This represents a $1.16 dividend on an annualized basis and a yield of 1.0%. AGCO's dividend payout ratio is currently 86.57%.

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.