Norges Bank Invests $78.20 Million in AGCO Corporation $AGCO

Key Points

• Norges Bank opened a new position in AGCO during Q4, buying 749,637 shares worth about $78.2 million and ending with roughly 1% ownership of the company.
• AGCO reported strong quarterly results, with EPS of $0.94 beating estimates by $0.50 and revenue of $2.34 billion topping expectations; revenue also rose 14.3% year over year.
• The company raised its quarterly dividend to $0.30 per share from $0.29, while analysts currently rate the stock a consensus Hold with an average price target of $126.50.

Norges Bank bought a new position in shares of AGCO Corporation (NYSE:AGCO - Free Report) during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund bought 749,637 shares of the industrial products company's stock, valued at approximately $78,202,000. Norges Bank owned about 1.00% of AGCO at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. Jupiter Asset Management Ltd. lifted its holdings in AGCO by 520.4% in the third quarter. Jupiter Asset Management Ltd. now owns 35,801 shares of the industrial products company's stock valued at $3,833,000 after acquiring an additional 30,030 shares during the last quarter. WINTON GROUP Ltd acquired a new position in AGCO in the third quarter valued at approximately $4,873,000. SG Americas Securities LLC lifted its holdings in AGCO by 2,167.4% in the fourth quarter. SG Americas Securities LLC now owns 157,309 shares of the industrial products company's stock valued at $16,410,000 after acquiring an additional 150,371 shares during the last quarter. Illinois Municipal Retirement Fund acquired a new position in AGCO in the third quarter valued at approximately $821,000. Finally, Fox Run Management L.L.C. acquired a new position in AGCO in the third quarter valued at approximately $844,000. 78.80% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at AGCO

In other news, major shareholder & Farm Equipment Ltd Tractors sold 422,590 shares of the company's stock in a transaction on Tuesday, May 5th. The stock was sold at an average price of $123.28, for a total transaction of $52,096,895.20. Following the sale, the insider owned 3,149,820 shares of the company's stock, valued at approximately $388,309,809.60. This represents a 11.83% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.62% of the stock is currently owned by insiders.

AGCO Stock Down 2.9%

Shares of NYSE AGCO opened at $116.43 on Friday. The firm has a market cap of $8.43 billion, a price-to-earnings ratio of 11.23, a PEG ratio of 0.78 and a beta of 1.08. The company has a quick ratio of 0.57, a current ratio of 1.29 and a debt-to-equity ratio of 0.47. AGCO Corporation has a 52-week low of $98.60 and a 52-week high of $143.78. The business's 50 day moving average is $116.53 and its two-hundred day moving average is $116.10.

AGCO (NYSE:AGCO - Get Free Report) last announced its earnings results on Tuesday, May 5th. The industrial products company reported $0.94 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.44 by $0.50. The company had revenue of $2.34 billion for the quarter, compared to analyst estimates of $2.26 billion. AGCO had a return on equity of 9.99% and a net margin of 7.43%.The firm's quarterly revenue was up 14.3% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.41 earnings per share. AGCO has set its FY 2026 guidance at 6.000-6.000 EPS. Research analysts predict that AGCO Corporation will post 5.99 EPS for the current year.

AGCO Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, June 15th. Shareholders of record on Friday, May 15th will be given a $0.30 dividend. The ex-dividend date of this dividend is Friday, May 15th. This is a positive change from AGCO's previous quarterly dividend of $0.29. This represents a $1.20 dividend on an annualized basis and a yield of 1.0%. AGCO's dividend payout ratio is presently 11.57%.

Analysts Set New Price Targets

A number of research analysts recently commented on AGCO shares. Wall Street Zen upgraded AGCO from a "hold" rating to a "buy" rating in a report on Saturday, March 7th. Citigroup upped their price objective on AGCO from $120.00 to $130.00 and gave the company a "neutral" rating in a report on Monday, February 9th. Truist Financial upped their price objective on AGCO from $134.00 to $152.00 and gave the company a "buy" rating in a report on Monday, February 9th. Wells Fargo & Company set a $132.00 price objective on AGCO in a report on Monday, February 9th. Finally, Weiss Ratings cut AGCO from a "buy (b-)" rating to a "hold (c+)" rating in a report on Wednesday, May 27th. Three analysts have rated the stock with a Buy rating, six have given a Hold rating and two have issued a Sell rating to the company's stock. According to data from MarketBeat.com, the company presently has an average rating of "Hold" and an average price target of $126.50.

About AGCO

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.

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