Legal & General Group Plc Takes $10.98 Million Position in AGCO Corporation $AGCO

Key Points

• Legal & General Group acquired 91,724 AGCO shares worth approximately $10.98 million, giving it a 0.13% stake. Institutional investors collectively own 78.8% of the company.
• AGCO’s latest quarterly results fell slightly short of expectations, with EPS of $1.43 versus $1.46 expected and revenue of $2.61 billion versus $2.75 billion estimated. Revenue declined 1% year over year.
• AGCO shares recently traded at $118.53, up 4.5%, while analysts maintain a consensus “Hold” rating with an average price target of $122.17; the company also declared a quarterly dividend of $0.30 per share.

Legal & General Group Plc acquired a new position in AGCO Corporation (NYSE:AGCO - Free Report) during the second quarter, according to the company in its most recent disclosure with the SEC. The firm acquired 91,724 shares of the industrial products company's stock, valued at approximately $10,979,000. Legal & General Group Plc owned 0.13% of AGCO as of its most recent SEC filing.

Several other hedge funds have also recently bought and sold shares of the company. Northwestern Mutual Wealth Management Co. acquired a new position in AGCO during the 2nd quarter valued at about $29,000. EverSource Wealth Advisors LLC increased its stake in shares of AGCO by 951.9% in the second quarter. EverSource Wealth Advisors LLC now owns 284 shares of the industrial products company's stock valued at $29,000 after purchasing an additional 257 shares during the period. Advisory Services Network LLC acquired a new stake in shares of AGCO in the third quarter valued at approximately $33,000. Geneos Wealth Management Inc. raised its holdings in shares of AGCO by 109.2% during the first quarter. Geneos Wealth Management Inc. now owns 364 shares of the industrial products company's stock valued at $34,000 after buying an additional 190 shares during the last quarter. Finally, Elevation Wealth Partners LLC raised its holdings in shares of AGCO by 400.0% during the second quarter. Elevation Wealth Partners LLC now owns 290 shares of the industrial products company's stock valued at $35,000 after buying an additional 232 shares during the last quarter. 78.80% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other news, Director Lange Bob De acquired 1,000 shares of the company's stock in a transaction dated Friday, August 14th. The shares were bought at an average price of $100.71 per share, with a total value of $100,710.00. Following the purchase, the director owned 18,717 shares of the company's stock, valued at approximately $1,884,989.07. This represents a 5.64% increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, major shareholder & Farm Equipment Ltd Tractors sold 492,418 shares of the company's stock in a transaction on Wednesday, August 5th. The shares were sold at an average price of $115.33, for a total value of $56,790,567.94. Following the completion of the sale, the insider owned 3,017,565 shares of the company's stock, valued at approximately $348,015,771.45. This trade represents a 14.03% decrease in their position. The SEC filing for this sale provides additional information. 0.62% of the stock is currently owned by insiders.

AGCO Trading Up 4.5%

Shares of NYSE:AGCO opened at $118.53 on Tuesday. The company has a 50 day moving average of $111.15 and a 200-day moving average of $116.82. The company has a current ratio of 1.32, a quick ratio of 0.58 and a debt-to-equity ratio of 0.53. The firm has a market cap of $8.30 billion, a P/E ratio of 16.39, a P/E/G ratio of 0.94 and a beta of 1.08. AGCO Corporation has a twelve month low of $98.22 and a twelve month high of $143.78.

AGCO (NYSE:AGCO - Get Free Report) last posted its quarterly earnings data on Thursday, July 30th. The industrial products company reported $1.43 EPS for the quarter, missing analysts' consensus estimates of $1.46 by ($0.03). AGCO had a net margin of 5.15% and a return on equity of 10.09%. The company had revenue of $2.61 billion for the quarter, compared to analyst estimates of $2.75 billion. During the same quarter in the prior year, the business earned $1.35 EPS. AGCO's revenue was down 1.0% compared to the same quarter last year. AGCO has set its FY 2026 guidance at 5.500-5.750 EPS. As a group, analysts anticipate that AGCO Corporation will post 5.54 earnings per share for the current fiscal year.

AGCO Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, September 15th. Stockholders of record on Friday, August 14th will be given a dividend of $0.30 per share. The ex-dividend date is Friday, August 14th. This represents a $1.20 annualized dividend and a dividend yield of 1.0%. AGCO's dividend payout ratio (DPR) is 16.60%.

Wall Street Analyst Weigh In

AGCO has been the subject of a number of recent analyst reports. UBS Group decreased their price objective on AGCO from $123.00 to $114.00 and set a "neutral" rating for the company in a report on Tuesday, August 4th. Citigroup cut their target price on AGCO from $125.00 to $115.00 and set a "neutral" rating on the stock in a research note on Monday, August 3rd. DA Davidson set a $151.00 price target on AGCO in a research report on Friday, July 31st. Wells Fargo & Company decreased their price target on AGCO from $132.00 to $117.00 and set an "equal weight" rating for the company in a research note on Friday, July 31st. Finally, Weiss Ratings lowered AGCO from a "hold (c+)" rating to a "hold (c)" rating in a report on Friday, July 31st. Five investment analysts have rated the stock with a Buy rating, six have issued a Hold rating and three have assigned a Sell rating to the company. Based on data from MarketBeat.com, the company has an average rating of "Hold" and a consensus price target of $122.17.

AGCO Profile

AGCO Corporation is a global leader in the design, manufacture and distribution of agricultural machinery and precision farming solutions. Headquartered in Duluth, Georgia, the company markets a diverse portfolio of well-known brands, including Massey Ferguson, Fendt, Challenger, Valtra and GSI, serving farmers and producers in North America, South America, Europe, the Middle East, Africa and Asia Pacific. Through an extensive dealer network, AGCO provides equipment tailored to a broad range of crop and livestock operations.

The company's product offerings span tractors, combine harvesters, hay and forage tools, application equipment, seeding and tillage implements, as well as grain storage and protein solutions.

Want to see what other hedge funds are holding AGCO? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for AGCO Corporation (NYSE:AGCO - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source