LPL Financial LLC Grows Stock Holdings in AGCO Corporation $AGCO

Key Points

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LPL Financial LLC boosted its position in shares of AGCO Corporation (NYSE:AGCO - Free Report) by 28.4% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 27,999 shares of the industrial products company's stock after purchasing an additional 6,187 shares during the period. LPL Financial LLC's holdings in AGCO were worth $2,406,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in AGCO. GeoWealth Management LLC bought a new position in AGCO during the fourth quarter valued at about $27,000. Citizens National Bank Trust Department lifted its stake in shares of AGCO by 400.0% during 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 during the period. Abound Wealth Management acquired a new position in shares of AGCO during the first quarter valued at $56,000. UMB Bank n.a. lifted its stake in shares of AGCO by 140.7% in the 1st quarter. UMB Bank n.a. now owns 811 shares of the industrial products company's stock valued at $75,000 after purchasing an additional 474 shares during the period. Finally, GAMMA Investing LLC raised its stake in AGCO by 66.9% during the 1st 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. Institutional investors and hedge funds own 78.80% of the company's stock.

Insider Activity

In related news, SVP Luis Fernando Sartini Felli sold 10,000 shares of AGCO 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 owned 16,189 shares in the company, valued at $1,771,076.60. This trade represents a 38.18% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 16.60% of the company's stock.

AGCO Stock Performance

Shares of AGCO stock traded up $4.6920 during trading hours on Friday, hitting $116.5820. 604,567 shares of the company were exchanged, compared to its average volume of 953,488. The firm has a fifty day simple moving average of $108.98 and a 200 day simple moving average of $99.64. 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 52-week low of $73.79 and a 52-week high of $121.16. The stock has a market capitalization of $8.70 billion, a price-to-earnings ratio of 87.00, a P/E/G ratio of 1.84 and a beta of 1.21.

AGCO (NYSE:AGCO - Get Free Report) last issued its quarterly earnings results on Thursday, July 31st. The industrial products company reported $1.35 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.06 by $0.29. The company had revenue of $2.64 billion during the quarter, compared to analyst estimates of $2.52 billion. AGCO had a net margin of 0.98% and a return on equity of 8.27%. AGCO's quarterly revenue was down 18.8% compared to the same quarter last year. During the same quarter last year, the business posted $2.53 EPS. AGCO has set its FY 2025 guidance at 4.750-5.00 EPS. Research analysts predict that AGCO Corporation will post 4.2 earnings per share for the current fiscal year.

AGCO announced that its board has approved a stock repurchase program on Wednesday, July 9th that allows the company to buyback $1.00 billion in outstanding shares. This buyback authorization allows the industrial products company to buy up to 12.2% of its shares through open market purchases. Shares buyback programs are usually a sign that the company's board of directors believes its stock is undervalued.

AGCO Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, September 15th. Stockholders of record on Friday, August 15th will be issued a dividend of $0.29 per share. This represents a $1.16 dividend on an annualized basis and a dividend yield of 1.0%. The ex-dividend date of this dividend is Friday, August 15th. AGCO's payout ratio is currently 86.57%.

Analyst Ratings Changes

Several equities analysts have recently weighed in on AGCO shares. Morgan Stanley raised their price objective on AGCO from $75.00 to $84.00 and gave the company an "underweight" rating in a report on Monday, May 12th. Zacks Research upgraded shares of AGCO from a "hold" rating to a "strong-buy" rating in a research report on Monday, August 18th. Citigroup restated a "neutral" rating and set a $110.00 price objective on shares of AGCO in a research report on Friday, May 30th. JPMorgan Chase & Co. upped their price target on shares of AGCO from $130.00 to $137.00 and gave the stock an "overweight" rating in a report on Friday, August 1st. Finally, The Goldman Sachs Group boosted their price objective on shares of AGCO from $91.00 to $107.00 and gave the stock a "neutral" rating in a research note on Tuesday, May 27th. One equities 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.com, AGCO has an average rating of "Hold" and an average target price of $109.63.

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.