State of Alaska Department of Revenue Lowers Position in AGCO Corporation $AGCO

Key Points

• The State of Alaska Department of Revenue has reduced its stake in AGCO Corporation by 58.7%, owning 6,959 shares valued at $717,000 after selling 9,898 shares in the second quarter.
• A variety of institutional investors have recently adjusted their positions in AGCO, with significant increases from GAMMA Investing LLC and Inspire Investing LLC.
• AGCO's stock ratings vary among analysts, with a consensus rating of "Hold" and an average price target of $111.63, alongside a recent downgrade from Zacks Research.

State of Alaska Department of Revenue lessened its stake in AGCO Corporation (NYSE:AGCO - Free Report) by 58.7% during the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 6,959 shares of the industrial products company's stock after selling 9,898 shares during the quarter. State of Alaska Department of Revenue's holdings in AGCO were worth $717,000 at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. Teacher Retirement System of Texas bought a new position in shares of AGCO in the first quarter valued at approximately $1,212,000. GAMMA Investing LLC lifted its holdings in shares of AGCO by 66.9% in the first quarter. GAMMA Investing LLC now owns 908 shares of the industrial products company's stock valued at $84,000 after purchasing an additional 364 shares in the last quarter. Inspire Investing LLC lifted its holdings in shares of AGCO by 64.0% in the first quarter. Inspire Investing LLC now owns 7,051 shares of the industrial products company's stock valued at $653,000 after purchasing an additional 2,752 shares in the last quarter. Voya Investment Management LLC lifted its holdings in shares of AGCO by 4.2% in the first quarter. Voya Investment Management LLC now owns 8,954 shares of the industrial products company's stock valued at $829,000 after purchasing an additional 364 shares in the last quarter. Finally, Envestnet Asset Management Inc. lifted its holdings in shares of AGCO by 9.0% in the first quarter. Envestnet Asset Management Inc. now owns 99,951 shares of the industrial products company's stock valued at $9,252,000 after purchasing an additional 8,293 shares in the last quarter. Institutional investors own 78.80% of the company's stock.

Analysts Set New Price Targets

A number of research analysts have recently weighed in on AGCO shares. Oppenheimer dropped their target price on AGCO from $124.00 to $123.00 and set an "outperform" rating on the stock in a report on Thursday, September 18th. UBS Group reaffirmed a "neutral" rating and set a $119.00 price target (up from $100.00) on shares of AGCO in a research report on Friday, August 8th. Zacks Research downgraded AGCO from a "strong-buy" rating to a "hold" rating in a research report on Friday, September 19th. Weiss Ratings reaffirmed a "hold (c-)" rating on shares of AGCO in a research report on Saturday, September 27th. Finally, Citigroup decreased their price target on AGCO from $125.00 to $120.00 and set a "neutral" rating for the company in a research report on Tuesday, September 23rd. Three investment analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and one has assigned a Sell rating to the company's stock. According to MarketBeat, the stock has a consensus rating of "Hold" and an average target price of $111.63.

Insider Buying and Selling at AGCO

In other news, SVP Luis Fernando Sartini Felli sold 10,000 shares of AGCO stock in a transaction 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 completion of the transaction, the senior vice president directly owned 16,189 shares in the company, valued at approximately $1,771,076.60. The trade was a 38.18% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 16.90% of the company's stock.

AGCO Stock Performance

NYSE:AGCO opened at $110.16 on Wednesday. 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 business has a fifty day simple moving average of $110.57 and a two-hundred day simple moving average of $102.45. AGCO Corporation has a 1 year low of $73.79 and a 1 year high of $121.16. The company has a market capitalization of $8.22 billion, a P/E ratio of 82.21, a P/E/G ratio of 1.75 and a beta of 1.23.

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 business had revenue of $2.64 billion during the quarter, compared to the consensus estimate of $2.52 billion. AGCO had a return on equity of 8.27% and a net margin of 0.98%.The business's revenue for the quarter was down 18.8% on a year-over-year basis. During the same period last year, the business posted $2.53 earnings per share. AGCO has set its FY 2025 guidance at 4.750-5.00 EPS. On average, analysts expect that AGCO Corporation will post 4.2 earnings per share for the current year.

AGCO Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, September 15th. Stockholders of record on Friday, August 15th were given a $0.29 dividend. The ex-dividend date was Friday, August 15th. This represents a $1.16 annualized dividend and a dividend yield of 1.1%. AGCO's payout ratio is 86.57%.

AGCO declared that its Board of Directors 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 repurchase up to 12.2% of its stock through open market purchases. Stock repurchase plans are typically an indication that the company's board believes its shares are undervalued.

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.

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