AGCO Corporation $AGCO Shares Sold by Fifth Third Bancorp

Fifth Third Bancorp decreased its holdings in shares of AGCO Corporation (NYSE:AGCO) by 12.5% in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The firm owned 876 shares of the industrial products company’s stock after selling 125 shares during the period. Fifth Third Bancorp’s holdings in AGCO were worth $90,000 at the end of the most recent quarter.

Other hedge funds have also made changes to their positions in the company. Citizens National Bank Trust Department raised its holdings in AGCO by 400.0% during the first quarter. Citizens National Bank Trust Department now owns 300 shares of the industrial products company’s stock worth $28,000 after purchasing an additional 240 shares in the last quarter. Caitong International Asset Management Co. Ltd purchased a new position in AGCO during the first quarter worth about $32,000. Geneos Wealth Management Inc. raised its holdings in AGCO by 109.2% during the first quarter. Geneos Wealth Management Inc. now owns 364 shares of the industrial products company’s stock worth $34,000 after purchasing an additional 190 shares in the last quarter. Quarry LP purchased a new position in AGCO during the first quarter worth about $37,000. Finally, Brooklyn Investment Group raised its holdings in AGCO by 98.7% during the first quarter. Brooklyn Investment Group now owns 590 shares of the industrial products company’s stock worth $55,000 after purchasing an additional 293 shares in the last quarter. Institutional investors and hedge funds own 78.80% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on AGCO shares. Zacks Research cut shares of AGCO from a “strong-buy” rating to a “hold” rating in a report on Friday, September 19th. Wall Street Zen raised shares of AGCO from a “hold” rating to a “buy” rating in a report on Saturday, August 2nd. Citigroup dropped their target price on shares of AGCO from $125.00 to $120.00 and set a “neutral” rating for the company in a report on Tuesday, September 23rd. UBS Group reaffirmed a “neutral” rating and issued a $119.00 target price (up from $100.00) on shares of AGCO in a report on Friday, August 8th. Finally, Oppenheimer dropped their target price on shares of AGCO from $124.00 to $123.00 and set an “outperform” rating for the company in a report on Thursday, September 18th. Three analysts have rated the stock with a Buy rating, six have issued a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $111.63.

AGCO Trading Down 2.0%

Shares of AGCO opened at $104.88 on Thursday. The company has a debt-to-equity ratio of 0.66, a current ratio of 1.48 and a quick ratio of 0.67. The firm has a 50 day simple moving average of $110.66 and a 200-day simple moving average of $102.00. AGCO Corporation has a 1-year low of $73.79 and a 1-year high of $121.16. The stock has a market cap of $7.83 billion, a price-to-earnings ratio of 78.27, a price-to-earnings-growth ratio of 1.70 and a beta of 1.23.

AGCO (NYSE:AGCO) last issued its quarterly earnings data on Thursday, July 31st. The industrial products company reported $1.35 earnings per share 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 business had revenue of $2.64 billion during the quarter, compared to analysts’ expectations of $2.52 billion. During the same period last year, the company posted $2.53 EPS. The company’s revenue was down 18.8% on a year-over-year basis. AGCO has set its FY 2025 guidance at 4.750-5.00 EPS. Equities analysts forecast that AGCO Corporation will post 4.2 EPS for the current fiscal year.

AGCO Dividend Announcement

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

AGCO announced that its board has approved a stock buyback program on Wednesday, July 9th that permits the company to repurchase $1.00 billion in shares. This repurchase authorization permits the industrial products company to repurchase up to 12.2% of its shares through open market purchases. Shares repurchase programs are often a sign that the company’s board believes its shares are undervalued.

Insider Buying and Selling

In other AGCO news, SVP Luis Fernando Sartini Felli sold 10,000 shares of AGCO 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 completion of the sale, the senior vice president directly owned 16,189 shares of the company’s stock, valued at approximately $1,771,076.60. The trade was a 38.18% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 16.60% of the company’s stock.

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.