Sumitomo Mitsui Trust Group Inc. Makes New $620,000 Investment in AGCO Corporation $AGCO

Sumitomo Mitsui Trust Group Inc. bought a new stake in shares of AGCO Corporation (NYSE:AGCO) in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 5,793 shares of the industrial products company’s stock, valued at approximately $620,000.

Other institutional investors and hedge funds have also made changes to their positions in the company. KLP Kapitalforvaltning AS boosted its position in AGCO by 0.7% during the 3rd quarter. KLP Kapitalforvaltning AS now owns 14,300 shares of the industrial products company’s stock valued at $1,531,000 after purchasing an additional 100 shares during the period. Quantum Portfolio Management LLC lifted its stake in AGCO by 5.5% in the second quarter. Quantum Portfolio Management LLC now owns 2,495 shares of the industrial products company’s stock valued at $257,000 after buying an additional 129 shares during the last quarter. GAMMA Investing LLC grew its position in shares of AGCO by 8.7% during the third quarter. GAMMA Investing LLC now owns 1,818 shares of the industrial products company’s stock worth $195,000 after acquiring an additional 146 shares during the last quarter. Jones Financial Companies Lllp grew its position in shares of AGCO by 29.7% during the first quarter. Jones Financial Companies Lllp now owns 650 shares of the industrial products company’s stock worth $61,000 after acquiring an additional 149 shares during the last quarter. Finally, Steward Partners Investment Advisory LLC increased its holdings in shares of AGCO by 30.7% in the 2nd quarter. Steward Partners Investment Advisory LLC now owns 668 shares of the industrial products company’s stock worth $69,000 after acquiring an additional 157 shares during the period. 78.80% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at AGCO

In related news, SVP Kelvin Eugene Bennett sold 250 shares of the stock in a transaction that occurred on 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 sale, the senior vice president directly owned 17,130 shares of the company’s stock, valued at $1,786,316.40. This represents a 1.44% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 16.90% of the stock is owned by insiders.

Analyst Ratings Changes

A number of research firms have issued reports on AGCO. JPMorgan Chase & Co. reduced their target price on shares of AGCO from $127.00 to $123.00 and set an “overweight” rating for the company in a research note on Friday, December 19th. Truist Financial set a $134.00 price objective on AGCO in a report on Wednesday, January 14th. Oppenheimer raised their target price on AGCO from $123.00 to $128.00 and gave the company an “outperform” rating in a research report on Wednesday, December 3rd. Wells Fargo & Company assumed coverage on AGCO in a research note on Thursday, November 13th. They issued an “equal weight” rating and a $114.00 price target for the company. Finally, Citigroup lifted their price objective on shares of AGCO from $115.00 to $120.00 and gave the company a “neutral” rating in a research note on Tuesday, January 13th. Three equities research analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $111.80.

AGCO Stock Down 1.7%

AGCO opened at $111.37 on Tuesday. The company has a debt-to-equity ratio of 0.61, a quick ratio of 0.73 and a current ratio of 1.58. The company has a market capitalization of $8.31 billion, a PE ratio of 22.14, a P/E/G ratio of 10.18 and a beta of 1.17. The stock’s fifty day moving average is $106.83 and its 200-day moving average is $108.49. AGCO Corporation has a one year low of $73.79 and a one year high of $121.16.

AGCO (NYSE:AGCO) last released its earnings results 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 return on equity of 9.36% and a net margin of 3.73%.The firm had revenue of $2.48 billion for the quarter, compared to analyst estimates of $2.48 billion. During the same period in the previous year, the company earned $0.68 earnings per share. AGCO’s revenue was down 4.7% compared to the same quarter last year. AGCO has set its FY 2025 guidance at 5.000-5.000 EPS. On average, equities analysts predict that AGCO Corporation will post 4.2 EPS for the current fiscal year.

AGCO Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, March 16th. Stockholders of record on Friday, February 13th will be paid a $0.29 dividend. The ex-dividend date of this dividend is Friday, February 13th. This represents a $1.16 annualized dividend and a dividend yield of 1.0%. AGCO’s payout ratio is currently 23.06%.

AGCO Company Profile

AGCO Corporation is a global leader in the design, manufacture and distribution of agricultural machinery and precision farming solutions. Headquartered in Duluth, Georgia, the company markets a diverse portfolio of well-known brands, including Massey Ferguson, Fendt, Challenger, Valtra and GSI, serving farmers and producers in North America, South America, Europe, the Middle East, Africa and Asia Pacific. Through an extensive dealer network, AGCO provides equipment tailored to a broad range of crop and livestock operations.

The company’s product offerings span tractors, combine harvesters, hay and forage tools, application equipment, seeding and tillage implements, as well as grain storage and protein solutions.