Y Intercept Hong Kong Ltd Purchases Shares of 13,616 AGCO Corporation $AGCO

Y Intercept Hong Kong Ltd purchased a new stake in AGCO Corporation (NYSE:AGCO) during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund purchased 13,616 shares of the industrial products company’s stock, valued at approximately $1,405,000.

A number of other institutional investors have also recently made changes to their positions in AGCO. Price T Rowe Associates Inc. MD grew its position in shares of AGCO by 7.4% in the 1st 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 boosted its position in shares of AGCO by 62.4% during the 1st 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 purchasing an additional 436,237 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its position in shares of AGCO by 14.0% during the 1st 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 purchasing an additional 405,022 shares in the last quarter. Dimensional Fund Advisors LP boosted its position in shares of AGCO by 12.1% during the 1st quarter. Dimensional Fund Advisors LP now owns 3,346,046 shares of the industrial products company’s stock valued at $309,745,000 after purchasing an additional 361,965 shares in the last quarter. Finally, Lord Abbett & CO. LLC boosted its position in shares of AGCO by 38.7% during the 1st quarter. Lord Abbett & CO. LLC now owns 920,431 shares of the industrial products company’s stock valued at $85,204,000 after purchasing an additional 256,953 shares in the last quarter. Institutional investors own 78.80% of the company’s stock.

Insider Transactions at AGCO

In other news, SVP Luis Fernando Sartini Felli sold 10,000 shares of the firm’s stock in a transaction that occurred on Monday, August 11th. The stock was sold at an average price of $109.40, for a total value of $1,094,000.00. Following the transaction, the senior vice president owned 16,189 shares in the company, valued at $1,771,076.60. This trade represents a 38.18% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 16.60% of the company’s stock.

AGCO Stock Down 3.0%

Shares of NYSE:AGCO opened at $102.99 on Monday. The business’s 50 day simple moving average is $108.68 and its two-hundred day simple moving average is $105.25. The firm has a market cap of $7.69 billion, a P/E ratio of 76.86, a PEG ratio of 1.73 and a beta of 1.23. The company has a debt-to-equity ratio of 0.66, a quick ratio of 0.67 and a current ratio of 1.48. AGCO Corporation has a 52-week low of $73.79 and a 52-week high of $121.16.

AGCO (NYSE:AGCO) last announced its quarterly earnings results on Friday, October 31st. The industrial products company reported $1.35 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.26 by $0.09. The business had revenue of $2.48 billion for the quarter, compared to analyst estimates of $2.48 billion. AGCO had a return on equity of 8.27% and a net margin of 0.98%.The company’s quarterly revenue was down 4.7% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.68 earnings per share. AGCO has set its FY 2025 guidance at 5.000-5.000 EPS. As a group, research analysts forecast that AGCO Corporation will post 4.2 EPS for the current fiscal year.

AGCO declared that its board has authorized a share buyback plan on Wednesday, July 9th that authorizes the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization authorizes the industrial products company to reacquire up to 12.2% of its stock through open market purchases. Stock repurchase plans are usually a sign that the company’s leadership believes its shares are undervalued.

AGCO Announces Dividend

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

Analysts Set New Price Targets

Several equities research analysts recently commented on the company. Weiss Ratings restated a “hold (c-)” rating on shares of AGCO in a research report on Wednesday, October 8th. Wall Street Zen upgraded AGCO from a “hold” rating to a “buy” rating in a research report on Saturday, August 2nd. Barclays upped their target price on AGCO from $110.00 to $116.00 and gave the company an “equal weight” rating in a research report on Monday, October 20th. UBS Group restated a “neutral” rating and set a $119.00 target price (up previously from $100.00) on shares of AGCO in a research report on Friday, August 8th. Finally, Citigroup cut their target price on AGCO from $125.00 to $120.00 and set a “neutral” rating on the stock in a research report on Tuesday, September 23rd. Three equities research analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, AGCO presently has a consensus rating of “Hold” and a consensus target price of $116.33.

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.