OLD Mission Capital LLC Takes Position in AGCO Corporation $AGCO

Key Points

• OLD Mission Capital LLC has acquired a new stake in AGCO Corporation worth approximately $401,000, buying 4,327 shares during the first quarter.
• Significantly, 78.80% of AGCO's stock is currently owned by institutional investors, indicating strong institutional interest in the company.
• AGCO recently declared a quarterly dividend of $0.29 per share, which equates to an annualized yield of 1.1%.

OLD Mission Capital LLC acquired a new position in shares of AGCO Corporation (NYSE:AGCO - Free Report) during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund acquired 4,327 shares of the industrial products company's stock, valued at approximately $401,000.

Other hedge funds have also bought and sold shares of the company. Gabelli Funds LLC lifted its stake in AGCO by 50.0% during the 1st quarter. Gabelli Funds LLC now owns 6,000 shares of the industrial products company's stock valued at $555,000 after acquiring an additional 2,000 shares during the period. Bragg Financial Advisors Inc boosted its position in AGCO by 5.3% in the 1st quarter. Bragg Financial Advisors Inc now owns 184,014 shares of the industrial products company's stock worth $17,034,000 after purchasing an additional 9,286 shares in the last quarter. Price T Rowe Associates Inc. MD lifted its holdings in AGCO by 7.4% in 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 purchasing an additional 481,146 shares in the last quarter. Level Four Advisory Services LLC increased its position in shares of AGCO by 47.1% during the 1st quarter. Level Four Advisory Services LLC now owns 78,620 shares of the industrial products company's stock worth $7,278,000 after purchasing an additional 25,157 shares during the last quarter. Finally, Erste Asset Management GmbH increased its stake in shares of AGCO by 3.8% during the first quarter. Erste Asset Management GmbH now owns 22,097 shares of the industrial products company's stock worth $2,067,000 after buying an additional 807 shares during the period. 78.80% of the stock is currently owned by institutional investors.

AGCO Price Performance

NYSE AGCO traded down $1.18 during trading hours on Monday, hitting $109.84. 614,855 shares of the company's stock traded hands, compared to its average volume of 864,880. The firm's 50-day moving average is $110.70 and its 200-day moving average is $100.48. 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 current ratio of 1.48 and a quick ratio of 0.67. The company has a market capitalization of $8.20 billion, a PE ratio of 82.23, a PEG ratio of 1.75 and a beta of 1.20.

AGCO (NYSE:AGCO - Get Free Report) last released its earnings results on Thursday, July 31st. The industrial products company reported $1.35 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.06 by $0.29. The company had revenue of $2.64 billion for 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%. The firm's quarterly revenue was down 18.8% on a year-over-year basis. During the same period in the prior year, the business earned $2.53 EPS. AGCO has set its FY 2025 guidance at 4.750-5.00 EPS. Equities analysts forecast that AGCO Corporation will post 4.2 EPS for the current fiscal year.

AGCO Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, September 15th. Investors of record on Friday, August 15th will be issued a $0.29 dividend. The ex-dividend date of this dividend is Friday, August 15th. This represents a $1.16 annualized dividend and a yield of 1.1%. AGCO's dividend payout ratio is presently 86.57%.

AGCO announced that its Board of Directors has initiated a stock buyback plan on Wednesday, July 9th that permits the company to repurchase $1.00 billion in shares. This repurchase authorization permits the industrial products company to purchase up to 12.2% of its stock through open market purchases. Stock repurchase plans are often a sign that the company's board believes its stock is undervalued.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on AGCO. Morgan Stanley raised their target price on shares of AGCO from $75.00 to $84.00 and gave the stock an "underweight" rating in a research report on Monday, May 12th. The Goldman Sachs Group increased 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. Oppenheimer increased their target price on AGCO from $108.00 to $115.00 and gave the stock an "outperform" rating in a report on Tuesday, July 15th. Wall Street Zen upgraded AGCO from a "hold" rating to a "buy" rating in a report on Saturday, August 2nd. Finally, UBS Group restated 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. One equities research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating, five have issued a Hold rating and one has assigned a Sell rating to the company's stock. According to MarketBeat, the company has a consensus rating of "Hold" and an average target price of $109.38.

Insider Buying and Selling at AGCO

In other news, SVP Luis Fernando Sartini Felli sold 10,000 shares of the company's stock in a transaction dated 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 transaction, the senior vice president owned 16,189 shares of the company's stock, valued at approximately $1,771,076.60. This represents a 38.18% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 16.90% of the stock is owned by corporate insiders.

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.