Franklin Resources Inc. Has $1.10 Million Holdings in AGCO Corporation $AGCO

Franklin Resources Inc. boosted its position in AGCO Corporation (NYSE:AGCO) by 300.8% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 10,698 shares of the industrial products company’s stock after buying an additional 8,029 shares during the period. Franklin Resources Inc.’s holdings in AGCO were worth $1,104,000 at the end of the most recent quarter.

Other large investors have also recently bought and sold shares of the company. Caitong International Asset Management Co. Ltd bought a new position in shares of AGCO in the 1st quarter worth about $32,000. Geneos Wealth Management Inc. increased its holdings in AGCO by 109.2% in 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 bought a new stake in AGCO in the first quarter worth approximately $37,000. Atlantic Union Bankshares Corp acquired a new position in AGCO in the second quarter valued at approximately $44,000. Finally, Advantage Trust Co bought a new position in shares of AGCO during the 2nd quarter worth approximately $52,000. 78.80% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on AGCO shares. JPMorgan Chase & Co. lifted their price objective on shares of AGCO from $135.00 to $136.00 and gave the company an “overweight” rating in a research note on Tuesday, October 14th. Citigroup decreased their price target on shares of AGCO from $120.00 to $115.00 and set a “neutral” rating for the company in a research note on Monday, November 3rd. Barclays increased their price objective on shares of AGCO from $110.00 to $116.00 and gave the stock an “equal weight” rating in a research report on Monday, October 20th. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of AGCO in a research report on Monday. Finally, Wells Fargo & Company began coverage on AGCO in a report on Thursday, November 13th. They issued an “equal weight” rating and a $114.00 price target on the stock. Three investment analysts have rated the stock with a Buy rating, nine have given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, AGCO presently has an average rating of “Hold” and an average price target of $114.20.

AGCO Stock Performance

Shares of AGCO stock opened at $105.29 on Friday. The company has a market cap of $7.86 billion, a PE ratio of 20.93, a price-to-earnings-growth ratio of 1.69 and a beta of 1.18. The business has a 50 day moving average price of $106.49 and a 200-day moving average price of $107.23. AGCO Corporation has a 52 week low of $73.79 and a 52 week high of $121.16. The company has a quick ratio of 0.73, a current ratio of 1.58 and a debt-to-equity ratio of 0.61.

AGCO (NYSE:AGCO) last posted its quarterly earnings data on Friday, October 31st. The industrial products company reported $1.35 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.26 by $0.09. AGCO had a net margin of 3.73% and a return on equity of 9.36%. The firm had revenue of $2.48 billion for the quarter, compared to the consensus estimate of $2.48 billion. During the same period in the previous year, the firm earned $0.68 EPS. The business’s revenue for the quarter was down 4.7% compared to the same quarter last year. AGCO has set its FY 2025 guidance at 5.000-5.000 EPS. Equities analysts anticipate that AGCO Corporation will post 4.2 earnings per share for the current fiscal year.

AGCO Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 15th. Shareholders of record on Friday, November 14th will be given a $0.29 dividend. This represents a $1.16 dividend on an annualized basis and a yield of 1.1%. The ex-dividend date of this dividend is Friday, November 14th. AGCO’s dividend payout ratio is presently 23.06%.

Insider Buying and Selling

In other AGCO news, SVP Kelvin Eugene Bennett sold 250 shares of the stock in a transaction dated Monday, November 10th. The shares were sold at an average price of $104.28, for a total value of $26,070.00. Following the completion of the sale, the senior vice president owned 17,130 shares in the company, valued at approximately $1,786,316.40. This trade represents a 1.44% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Company insiders own 16.60% of the company’s stock.

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.