United Services Automobile Association Invests $382,000 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 bought a new position in AGCO Corporation (NYSE:AGCO - Free Report) in the first quarter, according to the company in its most recent disclosure with the SEC. The fund bought 4,084 shares of the industrial products company's stock, valued at approximately $382,000.

Other large investors have also added to or reduced their stakes in the company. Goldman Sachs Group Inc. boosted its stake in shares of 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 acquiring an additional 61,009 shares during the last quarter. Jones Financial Companies Lllp lifted its stake in shares of AGCO by 29.7% during the 1st 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 in the last quarter. Millennium Management LLC lifted its stake in AGCO by 71.7% in the 1st quarter. Millennium Management LLC now owns 499,188 shares of the industrial products company's stock worth $46,210,000 after purchasing an additional 208,374 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its stake in AGCO by 46.2% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 4,958 shares of the industrial products company's stock worth $459,000 after purchasing an additional 1,567 shares in the last quarter. Finally, Gotham Asset Management LLC lifted its stake in AGCO by 36.1% in the 1st quarter. Gotham Asset Management LLC now owns 156,281 shares of the industrial products company's stock worth $14,467,000 after purchasing an additional 41,455 shares in the last quarter. Institutional investors own 78.80% of the company's stock.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on AGCO shares. Wall Street Zen upgraded shares of AGCO from a "hold" rating to a "buy" rating in a report on Saturday, August 2nd. Zacks Research upgraded shares of AGCO from a "hold" rating to a "strong-buy" rating in a research note on Monday, August 18th. JPMorgan Chase & Co. dropped their price objective on shares of AGCO from $137.00 to $135.00 and set an "overweight" rating on the stock in a research note on Tuesday, September 2nd. The Goldman Sachs Group increased their price objective on shares of AGCO from $91.00 to $107.00 and gave the company a "neutral" rating in a research note on Tuesday, May 27th. Finally, Oppenheimer increased their target price on shares of AGCO from $108.00 to $115.00 and gave the company an "outperform" rating in a research report on Tuesday, July 15th. One analyst has rated the stock with a Strong Buy rating, three have given a Buy rating, five have given a Hold rating and one has issued a Sell rating to the company's stock. According to data from MarketBeat, AGCO presently has a consensus rating of "Hold" and an average target price of $109.38.

AGCO Price Performance

Shares of NYSE:AGCO traded down $0.61 during midday trading on Wednesday, hitting $110.54. The company's stock had a trading volume of 63,109 shares, compared to its average volume of 855,095. The company has a debt-to-equity ratio of 0.66, a quick ratio of 0.67 and a current ratio of 1.48. The business's 50 day simple moving average is $110.80 and its 200 day simple moving average is $101.03. AGCO Corporation has a 12-month low of $73.79 and a 12-month high of $121.16. The company has a market cap of $8.25 billion, a P/E ratio of 82.49, a price-to-earnings-growth ratio of 1.73 and a beta of 1.20.

AGCO (NYSE:AGCO - Get Free Report) last issued its earnings results on Thursday, July 31st. The industrial products company reported $1.35 EPS for the quarter, topping analysts' consensus estimates 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 the consensus estimate of $2.52 billion. During the same period in the previous year, the firm earned $2.53 earnings per share. AGCO'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, analysts forecast that AGCO Corporation will post 4.2 EPS for the current year.

AGCO Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, September 15th. Investors of record on Friday, August 15th were issued a $0.29 dividend. The ex-dividend date was Friday, August 15th. This represents a $1.16 dividend on an annualized basis and a dividend yield of 1.0%. AGCO's payout ratio is 86.57%.

AGCO announced that its Board of Directors has authorized a stock repurchase program on Wednesday, July 9th that authorizes the company to buyback $1.00 billion in shares. This buyback authorization authorizes the industrial products company to buy up to 12.2% of its stock through open market purchases. Stock buyback programs are generally a sign that the company's management believes its shares are undervalued.

Insider Buying and Selling

In other AGCO 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 transaction of $1,094,000.00. Following the completion of the transaction, the senior vice president owned 16,189 shares in the company, valued at $1,771,076.60. The trade was a 38.18% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 16.90% of the stock is owned by company insiders.

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.