AGCO Corporation $AGCO Shares Purchased by UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC

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 increased its position in AGCO Corporation (NYSE:AGCO - Free Report) by 14.0% in the 1st quarter, according to its most recent disclosure with the Securities and 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 4.43% of AGCO worth $306,112,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Empowered Funds LLC boosted its position in AGCO by 3.1% in the 1st quarter. Empowered Funds LLC now owns 5,876 shares of the industrial products company's stock valued at $544,000 after buying an additional 176 shares during the last quarter. Dean Capital Management boosted its holdings in AGCO by 2.1% in the first 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 last quarter. United Services Automobile Association acquired a new stake in AGCO during the 1st quarter valued at approximately $382,000. Goldman Sachs Group Inc. increased its holdings in AGCO by 39.6% during 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 last quarter. Finally, Jones Financial Companies Lllp raised its position in shares of AGCO by 29.7% in the 1st quarter. Jones Financial Companies Lllp now owns 650 shares of the industrial products company's stock valued at $61,000 after purchasing an additional 149 shares in the last quarter. Hedge funds and other institutional investors own 78.80% of the company's stock.

Insider Transactions at AGCO

In other news, SVP Luis Fernando Sartini Felli sold 10,000 shares of the firm's stock in a transaction on Monday, August 11th. The stock was sold at an average price of $109.40, for a total transaction of $1,094,000.00. Following the transaction, the senior vice president directly 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 ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 16.60% of the company's stock.

Analyst Ratings Changes

AGCO has been the subject of a number of research analyst reports. Zacks Research upgraded shares of AGCO from a "hold" rating to a "strong-buy" rating in a research note on Monday, August 18th. The Goldman Sachs Group boosted their target price on shares of AGCO from $91.00 to $107.00 and gave the stock a "neutral" rating in a research report on Tuesday, May 27th. Oppenheimer increased their price target on shares of AGCO from $108.00 to $115.00 and gave the stock an "outperform" rating in a research report on Tuesday, July 15th. Citigroup reiterated a "neutral" rating and issued a $110.00 price target on shares of AGCO in a research note on Friday, May 30th. Finally, JPMorgan Chase & Co. cut their price objective on AGCO from $137.00 to $135.00 and set an "overweight" rating on the stock in a research note on Tuesday, September 2nd. One investment analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating, five have issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus target price of $109.38.

AGCO Stock Performance

Shares of AGCO stock traded up $0.23 during trading on Tuesday, hitting $109.94. 161,780 shares of the stock were exchanged, compared to its average volume of 855,596. 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 12 month low of $73.79 and a 12 month high of $121.16. The stock's fifty day moving average is $110.77 and its 200 day moving average is $100.96. The stock has a market cap of $8.20 billion, a PE ratio of 81.99, a P/E/G ratio of 1.72 and a beta of 1.20.

AGCO (NYSE:AGCO - Get Free Report) last posted its earnings results on Thursday, July 31st. The industrial products company reported $1.35 EPS for the quarter, topping the consensus estimate of $1.06 by $0.29. AGCO had a net margin of 0.98% and a return on equity of 8.27%. The firm had revenue of $2.64 billion during the quarter, compared to analysts' expectations of $2.52 billion. During the same quarter in the prior year, the firm earned $2.53 EPS. AGCO's quarterly revenue 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, sell-side analysts anticipate that AGCO Corporation will post 4.2 EPS for the current year.

AGCO declared that its board has approved a stock buyback plan on Wednesday, July 9th that authorizes the company to buyback $1.00 billion in outstanding shares. This buyback authorization authorizes the industrial products company to reacquire up to 12.2% of its shares through open market purchases. Shares buyback plans are generally an indication that the company's management believes its shares are undervalued.

AGCO Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, September 15th. Shareholders of record on Friday, August 15th were paid a dividend of $0.29 per share. The ex-dividend date of this dividend was Friday, August 15th. This represents a $1.16 annualized dividend and a yield of 1.1%. AGCO's payout ratio is presently 86.57%.

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.