Allianz Asset Management GmbH Has $1.52 Million Stock Position in AGCO Corporation $AGCO

Allianz Asset Management GmbH lowered its stake in shares of AGCO Corporation (NYSE:AGCO) by 8.9% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 14,736 shares of the industrial products company’s stock after selling 1,445 shares during the period. Allianz Asset Management GmbH’s holdings in AGCO were worth $1,520,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also recently made changes to their positions in the stock. Price T Rowe Associates Inc. MD grew its holdings in shares of AGCO by 7.4% during the first quarter. Price T Rowe Associates Inc. MD now owns 6,985,474 shares of the industrial products company’s stock valued at $646,648,000 after buying an additional 481,146 shares during the last quarter. Bank of New York Mellon Corp grew its holdings in shares of AGCO by 62.4% during the first quarter. Bank of New York Mellon Corp now owns 1,135,672 shares of the industrial products company’s stock valued at $105,129,000 after buying an additional 436,237 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its holdings in shares of AGCO by 14.0% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 3,306,812 shares of the industrial products company’s stock valued at $306,112,000 after buying an additional 405,022 shares during the last quarter. Dimensional Fund Advisors LP grew its holdings in shares of AGCO by 12.1% during the first quarter. Dimensional Fund Advisors LP now owns 3,346,046 shares of the industrial products company’s stock valued at $309,745,000 after buying an additional 361,965 shares during the last quarter. Finally, Lord Abbett & CO. LLC boosted its holdings in AGCO by 38.7% during the first quarter. Lord Abbett & CO. LLC now owns 920,431 shares of the industrial products company’s stock worth $85,204,000 after purchasing an additional 256,953 shares during the last quarter. Institutional investors and hedge funds own 78.80% of the company’s stock.

AGCO Stock Performance

NYSE AGCO opened at $108.67 on Friday. The company’s 50 day moving average is $109.35 and its 200-day moving average is $104.19. AGCO Corporation has a 12-month low of $73.79 and a 12-month high of $121.16. The company has a quick ratio of 0.67, a current ratio of 1.48 and a debt-to-equity ratio of 0.66. The firm has a market cap of $8.11 billion, a P/E ratio of 81.10, a price-to-earnings-growth ratio of 1.73 and a beta of 1.23.

AGCO (NYSE:AGCO) 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. Sell-side analysts predict that AGCO Corporation will post 4.2 earnings per share for the current year.

AGCO Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 15th. Stockholders of record on Friday, November 14th will be given a $0.29 dividend. The ex-dividend date of this dividend is Friday, November 14th. This represents a $1.16 annualized dividend and a dividend yield of 1.1%. AGCO’s payout ratio is 86.57%.

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

Analysts Set New Price Targets

Several research firms recently weighed in on AGCO. Citigroup cut their price target on shares of AGCO from $125.00 to $120.00 and set a “neutral” rating on the stock in a report on Tuesday, September 23rd. Wall Street Zen upgraded shares of AGCO from a “hold” rating to a “buy” rating in a report on Saturday, August 2nd. Oppenheimer cut their price target on shares of AGCO from $124.00 to $123.00 and set an “outperform” rating on the stock in a report on Thursday, September 18th. Zacks Research cut shares of AGCO from a “strong-buy” rating to a “hold” rating in a report on Friday, September 19th. Finally, JPMorgan Chase & Co. lifted their price objective on shares of AGCO from $135.00 to $136.00 and gave the stock an “overweight” rating in a research report on Tuesday, October 14th. Three equities research analysts have rated the stock with a Buy rating, eight have issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $116.33.

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. 16.60% of the stock is currently owned by company insiders.

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.