Xponance Inc. Reduces Position in AGCO Corporation (NYSE:AGCO)

Xponance Inc. lowered its stake in shares of AGCO Corporation (NYSE:AGCO - Free Report) by 26.4% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 7,815 shares of the industrial products company's stock after selling 2,801 shares during the quarter. Xponance Inc.'s holdings in AGCO were worth $723,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also bought and sold shares of AGCO. Price T Rowe Associates Inc. MD grew its stake in AGCO by 128.2% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 6,504,328 shares of the industrial products company's stock worth $608,026,000 after purchasing an additional 3,654,350 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its stake in shares of AGCO by 534.7% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 2,901,790 shares of the industrial products company's stock worth $271,259,000 after acquiring an additional 2,444,615 shares in the last quarter. Invesco Ltd. lifted its position in AGCO by 68.7% during the 4th quarter. Invesco Ltd. now owns 2,360,301 shares of the industrial products company's stock valued at $220,641,000 after acquiring an additional 961,081 shares during the period. Lord Abbett & CO. LLC bought a new stake in AGCO during the fourth quarter worth about $62,022,000. Finally, Norges Bank bought a new position in AGCO during the 4th quarter valued at approximately $57,321,000. 78.80% of the stock is owned by institutional investors.

Insider Activity at AGCO

In other news, SVP Kelvin Eugene Bennett sold 250 shares of the company's stock in a transaction dated Tuesday, May 13th. The shares were sold at an average price of $106.18, for a total transaction of $26,545.00. Following the sale, the senior vice president directly owned 17,380 shares in the company, valued at approximately $1,845,408.40. This represents a 1.42% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 16.60% of the stock is owned by insiders.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on the stock. The Goldman Sachs Group raised their price target on shares of AGCO from $91.00 to $107.00 and gave the company a "neutral" rating in a research report on Tuesday, May 27th. Morgan Stanley lifted their price objective on AGCO from $75.00 to $84.00 and gave the stock an "underweight" rating in a report on Monday, May 12th. Wall Street Zen upgraded shares of AGCO from a "sell" rating to a "hold" rating in a research note on Tuesday, April 22nd. Truist Financial reduced their price target on shares of AGCO from $125.00 to $105.00 and set a "buy" rating for the company in a research note on Tuesday, April 8th. Finally, UBS Group set a $106.00 target price on shares of AGCO in a research report on Tuesday, April 22nd. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of "Hold" and a consensus target price of $106.30.

AGCO Price Performance

NYSE AGCO traded down $0.67 on Friday, reaching $107.05. The company had a trading volume of 614,881 shares, compared to its average volume of 883,858. The firm's 50 day moving average price is $104.11 and its 200 day moving average price is $97.34. AGCO Corporation has a 12 month low of $73.79 and a 12 month high of $116.25. The stock has a market capitalization of $7.98 billion, a PE ratio of -13.72, a price-to-earnings-growth ratio of 1.92 and a beta of 1.24. The company has a quick ratio of 0.67, a current ratio of 1.53 and a debt-to-equity ratio of 0.72.

AGCO (NYSE:AGCO - Get Free Report) last posted its earnings results on Thursday, May 1st. The industrial products company reported $0.41 EPS for the quarter, topping analysts' consensus estimates of $0.03 by $0.38. AGCO had a positive return on equity of 10.60% and a negative net margin of 5.40%. The company had revenue of $2.05 billion for the quarter, compared to the consensus estimate of $2.06 billion. During the same period in the previous year, the business earned $2.32 earnings per share. The firm's revenue for the quarter was down 30.0% on a year-over-year basis. As a group, equities analysts predict that AGCO Corporation will post 4.2 earnings per share for the current year.

AGCO declared that its board has authorized 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 often an indication that the company's board believes its stock is undervalued.

AGCO Dividend Announcement

The firm also recently disclosed 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. The ex-dividend date is Friday, August 15th. This represents a $1.16 annualized dividend and a yield of 1.08%. AGCO's dividend payout ratio (DPR) is currently -14.87%.

AGCO 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.