Blue Door Asset Management LLC Sells 16,500 Shares of AGCO Corporation $AGCO

Blue Door Asset Management LLC decreased its holdings in shares of AGCO Corporation (NYSE:AGCO) by 23.0% in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The firm owned 55,300 shares of the industrial products company’s stock after selling 16,500 shares during the period. AGCO makes up approximately 3.0% of Blue Door Asset Management LLC’s holdings, making the stock its 10th largest position. Blue Door Asset Management LLC owned approximately 0.07% of AGCO worth $5,705,000 as of its most recent filing with the SEC.

Other institutional investors have also recently added to or reduced their stakes in the company. EverSource Wealth Advisors LLC raised its stake in AGCO by 951.9% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 284 shares of the industrial products company’s stock valued at $29,000 after acquiring an additional 257 shares during the last quarter. Caitong International Asset Management Co. Ltd purchased a new stake in shares of AGCO during the first quarter worth approximately $32,000. Geneos Wealth Management Inc. grew its position in AGCO by 109.2% in the 1st quarter. Geneos Wealth Management Inc. now owns 364 shares of the industrial products company’s stock valued at $34,000 after buying an additional 190 shares during the last quarter. Quarry LP acquired a new position in AGCO in the 1st quarter valued at $37,000. Finally, Atlantic Union Bankshares Corp purchased a new position in AGCO during the 2nd quarter worth $44,000. Institutional investors and hedge funds own 78.80% of the company’s stock.

AGCO Stock Performance

AGCO opened at $108.03 on Thursday. 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 $8.06 billion, a P/E ratio of 21.48, a P/E/G ratio of 1.66 and a beta of 1.18. The stock’s 50 day simple moving average is $106.42 and its 200 day simple moving average is $107.32. The company has a debt-to-equity ratio of 0.61, a current ratio of 1.58 and a quick ratio of 0.73.

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

AGCO Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 15th. Investors of record on Friday, November 14th will be paid 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%.

Insiders Place Their Bets

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

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on AGCO shares. Weiss Ratings reiterated a “hold (c-)” rating on shares of AGCO in a research note on Monday, December 1st. JPMorgan Chase & Co. lifted their price objective on AGCO from $135.00 to $136.00 and gave the company an “overweight” rating in a report on Tuesday, October 14th. Barclays boosted their target price on AGCO from $110.00 to $116.00 and gave the stock an “equal weight” rating in a research report on Monday, October 20th. Truist Financial reissued a “buy” rating and set a $123.00 target price (down from $142.00) on shares of AGCO in a research note on Monday, November 3rd. Finally, Wells Fargo & Company initiated coverage on AGCO in a research note 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 issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $114.20.

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.