Quantbot Technologies LP Has $2.70 Million Stock Holdings in 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 decreased its position in AGCO Corporation (NYSE:AGCO - Free Report) by 37.6% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 29,160 shares of the industrial products company's stock after selling 17,598 shares during the period. Quantbot Technologies LP's holdings in AGCO were worth $2,699,000 at the end of the most recent quarter.

Other hedge funds have also added to or reduced their stakes in the company. GeoWealth Management LLC bought a new position in AGCO in the fourth quarter valued at about $27,000. Citizens National Bank Trust Department boosted its holdings in AGCO by 400.0% in 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 last quarter. Caitong International Asset Management Co. Ltd bought a new position in AGCO during the first quarter worth about $32,000. Brooklyn Investment Group boosted its holdings in AGCO by 98.7% during the first quarter. Brooklyn Investment Group now owns 590 shares of the industrial products company's stock worth $55,000 after buying an additional 293 shares during the last quarter. Finally, Abound Wealth Management bought a new position in AGCO during the first quarter worth about $56,000. Institutional investors own 78.80% of the company's stock.

Insider Transactions at AGCO

In related news, SVP Luis Fernando Sartini Felli sold 10,000 shares of AGCO stock in a transaction that occurred on 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 sale, the senior vice president owned 16,189 shares of the company's stock, valued at approximately $1,771,076.60. This trade represents a 38.18% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 16.90% of the company's stock.

Analyst Ratings Changes

A number of brokerages have issued reports on AGCO. The Goldman Sachs Group raised their target price on AGCO from $91.00 to $107.00 and gave the stock a "neutral" rating in a report on Tuesday, May 27th. Zacks Research upgraded AGCO from a "hold" rating to a "strong-buy" rating in a report on Monday, August 18th. Citigroup restated a "neutral" rating and set a $110.00 target price on shares of AGCO in a report on Friday, May 30th. Wall Street Zen upgraded AGCO from a "hold" rating to a "buy" rating in a report on Saturday, August 2nd. Finally, JPMorgan Chase & Co. raised their target price on AGCO from $130.00 to $137.00 and gave the stock an "overweight" rating in a report on Friday, August 1st. One analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating, five have assigned a Hold rating and one has given a Sell rating to the company's stock. Based on data from MarketBeat, the stock has an average rating of "Hold" and an average target price of $109.63.

AGCO Stock Down 1.5%

Shares of NYSE:AGCO traded down $1.76 during trading on Monday, hitting $114.99. 202,666 shares of the company's stock traded hands, compared to its average volume of 867,588. AGCO Corporation has a 52 week low of $73.79 and a 52 week high of $121.16. The company has a current ratio of 1.48, a quick ratio of 0.67 and a debt-to-equity ratio of 0.66. The company has a market cap of $8.58 billion, a price-to-earnings ratio of 85.84, a price-to-earnings-growth ratio of 1.84 and a beta of 1.21. The company has a 50-day moving average price of $108.98 and a 200-day moving average price of $99.65.

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

AGCO announced that its Board of Directors has initiated a share buyback plan on Wednesday, July 9th that permits the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization permits the industrial products company to buy up to 12.2% of its shares through open market purchases. Shares repurchase plans are generally an indication that the company's board believes its shares are undervalued.

AGCO Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, September 15th. Investors of record on Friday, August 15th will be given a $0.29 dividend. This represents a $1.16 dividend on an annualized basis and a yield of 1.0%. The ex-dividend date of this dividend is Friday, August 15th. AGCO's dividend payout ratio (DPR) is currently 86.57%.

AGCO 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.