Quantbot Technologies LP Sells 17,598 Shares of AGCO Corporation $AGCO

Key Points

• Quantbot Technologies LP has reduced its stake in AGCO Corporation by 37.6%, selling 17,598 shares and now owns 29,160 shares valued at approximately $2.7 million.
• AGCO's Board of Directors has authorized a $1 billion share buyback plan, indicating management's belief that the company's stock is undervalued.
• AGCO reported a quarterly EPS of $1.35, exceeding estimates, while its revenue for the quarter was down 18.8% year-over-year.

Quantbot Technologies LP reduced its position in shares of AGCO Corporation (NYSE:AGCO - Free Report) by 37.6% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 29,160 shares of the industrial products company's stock after selling 17,598 shares during the quarter. Quantbot Technologies LP's holdings in AGCO were worth $2,699,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in the company. SummerHaven Investment Management LLC grew its holdings in shares of AGCO by 1.7% during the 1st quarter. SummerHaven Investment Management LLC now owns 8,241 shares of the industrial products company's stock valued at $763,000 after acquiring an additional 138 shares in the last quarter. ProShare Advisors LLC grew its holdings in shares of AGCO by 4.4% during the 4th quarter. ProShare Advisors LLC now owns 3,635 shares of the industrial products company's stock valued at $340,000 after acquiring an additional 154 shares in the last quarter. State of Alaska Department of Revenue grew its holdings in shares of AGCO by 1.1% during the 1st quarter. State of Alaska Department of Revenue now owns 16,857 shares of the industrial products company's stock valued at $1,559,000 after acquiring an additional 190 shares in the last quarter. State of Michigan Retirement System grew its holdings in shares of AGCO by 1.4% during the 1st quarter. State of Michigan Retirement System now owns 14,858 shares of the industrial products company's stock valued at $1,375,000 after acquiring an additional 200 shares in the last quarter. Finally, Louisiana State Employees Retirement System grew its holdings in shares of AGCO by 1.2% during the 1st quarter. Louisiana State Employees Retirement System now owns 17,400 shares of the industrial products company's stock valued at $1,611,000 after acquiring an additional 200 shares in the last quarter. 78.80% of the stock is owned by institutional investors and hedge funds.

AGCO Stock Performance

AGCO stock traded down $1.61 during mid-day trading on Tuesday, reaching $113.50. 104,510 shares of the stock traded hands, compared to its average volume of 864,254. 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 Corporation has a 52 week low of $73.79 and a 52 week high of $121.16. The business has a 50-day moving average of $109.22 and a two-hundred day moving average of $99.75. The firm has a market capitalization of $8.47 billion, a PE ratio of 84.79, a P/E/G ratio of 1.84 and a beta of 1.21.

AGCO (NYSE:AGCO - Get Free Report) last released its quarterly earnings results 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. AGCO had a net margin of 0.98% and a return on equity of 8.27%. The company had revenue of $2.64 billion during the quarter, compared to analysts' expectations of $2.52 billion. During the same period in the prior year, the company earned $2.53 earnings per share. The business's quarterly revenue was down 18.8% compared to the same quarter last year. AGCO has set its FY 2025 guidance at 4.750-5.00 EPS. As a group, equities analysts predict that AGCO Corporation will post 4.2 EPS for the current fiscal year.

AGCO announced that its board has authorized a stock buyback plan on Wednesday, July 9th that authorizes the company to repurchase $1.00 billion in shares. This repurchase authorization authorizes the industrial products company to reacquire up to 12.2% of its stock through open market purchases. Stock repurchase plans are usually an indication that the company's board believes its shares are 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 given a dividend of $0.29 per share. The ex-dividend date of this dividend is Friday, August 15th. This represents a $1.16 dividend on an annualized basis and a dividend yield of 1.0%. AGCO's dividend payout ratio is currently 86.57%.

Insider Buying and Selling at AGCO

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

Analyst Upgrades and Downgrades

A number of equities research analysts recently issued reports on AGCO shares. Morgan Stanley upped their price objective on shares of AGCO from $75.00 to $84.00 and gave the stock an "underweight" rating in a report on Monday, May 12th. Wall Street Zen upgraded shares of AGCO from a "hold" rating to a "buy" rating in a report on Saturday, August 2nd. UBS Group reiterated a "neutral" rating and issued a $119.00 price objective (up from $100.00) on shares of AGCO in a report on Friday, August 8th. The Goldman Sachs Group upped their price objective on shares of AGCO from $91.00 to $107.00 and gave the stock a "neutral" rating in a report on Tuesday, May 27th. Finally, Oppenheimer upped their price objective on shares of AGCO from $108.00 to $115.00 and gave the stock an "outperform" rating in a report on Tuesday, July 15th. One research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating, five have issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the company presently has a consensus 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.