United Services Automobile Association Takes Position in AGCO Corporation $AGCO

Key Points

• United Services Automobile Association has acquired a new stake in AGCO Corporation, purchasing 4,084 shares valued at approximately $382,000.
• Several analysts have increased their target prices for AGCO, with Goldman Sachs raising theirs from $91.00 to $107.00 and Oppenheimer from $108.00 to $115.00, indicating a positive outlook for the stock.
• AGCO has announced a $1.00 billion stock buyback plan, suggesting that its board believes the company's shares are currently undervalued.

United Services Automobile Association purchased a new stake in shares of AGCO Corporation (NYSE:AGCO - Free Report) during the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm purchased 4,084 shares of the industrial products company's stock, valued at approximately $382,000.

Other large investors also recently made changes to their positions in the company. Citizens National Bank Trust Department lifted its position in shares of AGCO by 400.0% during the first quarter. Citizens National Bank Trust Department now owns 300 shares of the industrial products company's stock valued at $28,000 after purchasing an additional 240 shares in the last quarter. Caitong International Asset Management Co. Ltd bought a new position in shares of AGCO during the first quarter valued at about $32,000. Quarry LP bought a new position in shares of AGCO during the first quarter valued at about $37,000. Brooklyn Investment Group lifted its position in shares of AGCO by 98.7% during the first quarter. Brooklyn Investment Group now owns 590 shares of the industrial products company's stock valued at $55,000 after purchasing an additional 293 shares in the last quarter. Finally, Abound Wealth Management bought a new position in shares of AGCO during the first quarter valued at about $56,000. 78.80% of the stock is owned by institutional investors.

Insider Activity

In other news, SVP Luis Fernando Sartini Felli sold 10,000 shares of the business's stock in a transaction that occurred on 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 sale, the senior vice president owned 16,189 shares of the company's stock, valued at $1,771,076.60. The trade was a 38.18% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. 16.90% of the stock is currently owned by company insiders.

AGCO Stock Performance

Shares of NYSE AGCO traded down $0.16 during midday trading on Friday, hitting $109.02. The company's stock had a trading volume of 660,107 shares, compared to its average volume of 660,688. The stock has a fifty day moving average price of $110.75 and a 200 day moving average price of $100.87. AGCO Corporation has a one year low of $73.79 and a one year 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 firm has a market capitalization of $8.13 billion, a price-to-earnings ratio of 24.72, a P/E/G ratio of 1.72 and a beta of 1.20.

AGCO (NYSE:AGCO - Get Free Report) last posted its quarterly earnings results on Thursday, July 31st. The industrial products company reported $1.35 earnings per share (EPS) for the quarter, beating 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 company had revenue of $2.64 billion for the quarter, compared to analyst estimates of $2.52 billion. During the same quarter in the previous year, the firm posted $2.53 earnings per share. The company'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. On average, research analysts forecast that AGCO Corporation will post 4.2 EPS for the current fiscal year.

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

AGCO Announces Dividend

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

Analyst Ratings Changes

A number of research firms recently weighed in on AGCO. Wall Street Zen raised shares of AGCO from a "hold" rating to a "buy" rating in a research report on Saturday, August 2nd. Oppenheimer lifted their price objective 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. UBS Group reaffirmed a "neutral" rating and issued a $119.00 price objective (up previously from $100.00) on shares of AGCO in a research report on Friday, August 8th. The Goldman Sachs Group lifted their price objective 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. Finally, Citigroup reaffirmed a "neutral" rating and issued a $110.00 price objective on shares of AGCO in a research report on Friday, May 30th. One analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating, five have assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of "Hold" and an average target price 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.