UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC Grows Stake in AGCO Corporation $AGCO

Key Points

• UBS Asset Management Americas LLC increased its stake in AGCO Corporation by 14.0%, acquiring an additional 405,022 shares during the first quarter, bringing its total ownership to approximately 4.43% of the company.
• AGCO reported quarterly earnings with $1.35 earnings per share, exceeding the consensus estimate of $1.06, despite an 18.8% decline in revenue year-over-year.
• The company declared a quarterly dividend of $0.29 per share, reflecting a 1.1% yield, and announced a stock buyback plan of up to $1.00 billion for outstanding shares.

UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its holdings in shares of AGCO Corporation (NYSE:AGCO - Free Report) by 14.0% in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 3,306,812 shares of the industrial products company's stock after purchasing an additional 405,022 shares during the quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC owned about 4.43% of AGCO worth $306,112,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently modified their holdings of the business. Empowered Funds LLC boosted its holdings in AGCO by 3.1% in the 1st quarter. Empowered Funds LLC now owns 5,876 shares of the industrial products company's stock worth $544,000 after buying an additional 176 shares during the period. Dean Capital Management raised its stake in shares of AGCO by 2.1% during the 1st quarter. Dean Capital Management now owns 16,282 shares of the industrial products company's stock valued at $1,507,000 after purchasing an additional 337 shares during the period. United Services Automobile Association purchased a new stake in AGCO during the 1st quarter worth about $382,000. Goldman Sachs Group Inc. boosted its stake in AGCO by 39.6% in the 1st quarter. Goldman Sachs Group Inc. now owns 215,242 shares of the industrial products company's stock worth $19,925,000 after purchasing an additional 61,009 shares during the period. Finally, Jones Financial Companies Lllp increased its position in shares of AGCO by 29.7% during the first quarter. Jones Financial Companies Lllp now owns 650 shares of the industrial products company's stock valued at $61,000 after buying an additional 149 shares during the period. Institutional investors own 78.80% of the company's stock.

Insider Activity

In other news, SVP Luis Fernando Sartini Felli sold 10,000 shares of AGCO 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 transaction, the senior vice president 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 16.60% of the company's stock.

AGCO Price Performance

NYSE:AGCO traded down $0.16 during mid-day trading on Friday, reaching $109.02. The stock had a trading volume of 660,107 shares, compared to its average volume of 664,135. The stock has a market capitalization of $8.13 billion, a P/E ratio of 81.36, a P/E/G ratio of 1.72 and a beta of 1.20. The firm has a 50 day moving average price of $110.75 and a two-hundred day moving average price of $100.85. The company has a debt-to-equity ratio of 0.66, a quick ratio of 0.67 and a current ratio of 1.48. AGCO Corporation has a one year low of $73.79 and a one year high of $121.16.

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

AGCO declared that its Board of Directors has initiated a stock repurchase program 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 reacquire up to 12.2% of its stock through open market purchases. Stock repurchase programs are typically a sign that the company's board believes its shares are undervalued.

AGCO Announces Dividend

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. This represents a $1.16 annualized dividend and a yield of 1.1%. The ex-dividend date is Friday, August 15th. AGCO's dividend payout ratio is presently 86.57%.

Wall Street Analyst Weigh In

A number of research firms have recently commented on AGCO. UBS Group restated a "neutral" rating and issued a $119.00 price objective (up from $100.00) on shares of AGCO in a research report on Friday, August 8th. Wall Street Zen upgraded shares of AGCO from a "hold" rating to a "buy" rating in a research note on Saturday, August 2nd. Zacks Research upgraded shares of AGCO from a "hold" rating to a "strong-buy" rating in a research report on Monday, August 18th. Citigroup reiterated a "neutral" rating and issued a $110.00 price objective on shares of AGCO in a research report on Friday, May 30th. Finally, The Goldman Sachs Group upped their target price on AGCO from $91.00 to $107.00 and gave the stock a "neutral" rating in a research note on Tuesday, May 27th. One 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.com, the stock currently has a consensus rating of "Hold" and a consensus price target of $109.38.

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.