Price T Rowe Associates Inc. MD Has $646.65 Million Holdings in AGCO Corporation $AGCO

Key Points

• Price T Rowe Associates Inc. increased its ownership in AGCO Corporation by 7.4%, purchasing an additional 481,146 shares and now owns 6,985,474 shares valued at approximately $646.6 million.
• AGCO's recent earnings report shows a significant beat on estimates with earnings of $1.35 per share on revenue of $2.64 billion, although revenue was down 18.8% year-over-year.
• The company announced a $1 billion share repurchase plan, indicating management's belief that its shares are undervalued, and declared a quarterly dividend of $0.29 per share.

Price T Rowe Associates Inc. MD lifted its stake in AGCO Corporation (NYSE:AGCO - Free Report) by 7.4% during the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 6,985,474 shares of the industrial products company's stock after purchasing an additional 481,146 shares during the period. Price T Rowe Associates Inc. MD owned 9.37% of AGCO worth $646,648,000 at the end of the most recent quarter.

A number of other institutional investors have also made changes to their positions in the stock. Canada Pension Plan Investment Board boosted its holdings in AGCO by 276.5% during the fourth quarter. Canada Pension Plan Investment Board now owns 6,400 shares of the industrial products company's stock worth $598,000 after buying an additional 4,700 shares during the last quarter. GeoWealth Management LLC bought a new stake in shares of AGCO in the 4th quarter valued at about $27,000. MetLife Investment Management LLC raised its position in shares of AGCO by 9.1% in the 4th quarter. MetLife Investment Management LLC now owns 34,929 shares of the industrial products company's stock valued at $3,265,000 after acquiring an additional 2,905 shares during the period. Tower Research Capital LLC TRC boosted its stake in AGCO by 45.4% during the 4th quarter. Tower Research Capital LLC TRC now owns 6,023 shares of the industrial products company's stock worth $563,000 after acquiring an additional 1,880 shares during the last quarter. Finally, Hsbc Holdings PLC boosted its stake in AGCO by 5.3% during the 4th quarter. Hsbc Holdings PLC now owns 11,257 shares of the industrial products company's stock worth $1,053,000 after acquiring an additional 568 shares during the last quarter. 78.80% of the stock is owned by institutional investors and hedge funds.

Insider Activity at AGCO

In other news, SVP Luis Fernando Sartini Felli sold 10,000 shares of the firm's stock in a transaction dated 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 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 legal filing with the Securities & Exchange Commission, which is available at the SEC website. 16.60% of the stock is currently owned by corporate insiders.

AGCO Stock Down 1.2%

Shares of NYSE:AGCO traded down $1.36 during mid-day trading on Thursday, reaching $112.50. 85,880 shares of the stock were exchanged, compared to its average volume of 861,466. The stock's 50 day simple moving average is $109.66 and its 200-day simple moving average is $99.94. AGCO Corporation has a one year low of $73.79 and a one year high of $121.16. The company has a market cap of $8.39 billion, a P/E ratio of 83.94, a P/E/G ratio of 1.77 and a beta of 1.21. The company has a quick ratio of 0.67, a current ratio of 1.48 and a debt-to-equity ratio of 0.66.

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

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

AGCO Dividend Announcement

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

Analyst Ratings Changes

Several equities analysts have recently issued reports on AGCO shares. Zacks Research raised shares of AGCO from a "hold" rating to a "strong-buy" rating in a report on Monday, August 18th. Oppenheimer lifted 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. UBS Group restated a "neutral" rating and issued a $119.00 price target (up from $100.00) on shares of AGCO in a report on Friday, August 8th. The Goldman Sachs Group lifted their price objective on AGCO from $91.00 to $107.00 and gave the company a "neutral" rating in a report on Tuesday, May 27th. Finally, JPMorgan Chase & Co. boosted their price objective on AGCO from $130.00 to $137.00 and gave the company an "overweight" rating in a research report on Friday, August 1st. One equities research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating, five have given a Hold rating and one has issued a Sell rating to the company's stock. According to MarketBeat, the company presently has an average rating of "Hold" and an average target price of $109.63.

About AGCO

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.