Rhumbline Advisers Lowers Stock Position in AGCO Corporation $AGCO

Rhumbline Advisers lessened its position in shares of AGCO Corporation (NYSE:AGCO) by 0.6% during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 168,862 shares of the industrial products company’s stock after selling 987 shares during the quarter. Rhumbline Advisers owned approximately 0.23% of AGCO worth $17,420,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. Inspire Investing LLC raised its holdings in AGCO by 64.0% in the 1st quarter. Inspire Investing LLC now owns 7,051 shares of the industrial products company’s stock worth $653,000 after purchasing an additional 2,752 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its holdings in AGCO by 14.0% in 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 purchasing an additional 405,022 shares during the period. Voya Investment Management LLC increased its position in shares of AGCO by 4.2% in the first quarter. Voya Investment Management LLC now owns 8,954 shares of the industrial products company’s stock valued at $829,000 after buying an additional 364 shares in the last quarter. Neo Ivy Capital Management acquired a new position in shares of AGCO during the 2nd quarter worth approximately $817,000. Finally, AXQ Capital LP acquired a new position in shares of AGCO during the 2nd quarter worth approximately $391,000. 78.80% of the stock is owned by hedge funds and other institutional investors.

AGCO Stock Performance

AGCO opened at $105.96 on Friday. AGCO Corporation has a twelve month low of $73.79 and a twelve month high of $121.16. The firm has a market capitalization of $7.91 billion, a PE ratio of 79.08, a PEG ratio of 1.73 and a beta of 1.25. The company has a current ratio of 1.48, a quick ratio of 0.67 and a debt-to-equity ratio of 0.66. The firm’s 50-day moving average price is $106.84 and its 200 day moving average price is $107.27.

AGCO (NYSE:AGCO) last released its earnings results on Friday, October 31st. The industrial products company reported $1.35 earnings per share for the quarter, topping analysts’ consensus estimates 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 net margin of 0.98% and a return on equity of 8.27%. The business’s revenue was down 4.7% on a year-over-year basis. During the same period last year, the company posted $0.68 EPS. AGCO has set its FY 2025 guidance at 5.000-5.000 EPS. As a group, sell-side analysts expect that AGCO Corporation will post 4.2 EPS for the current fiscal year.

AGCO Dividend Announcement

The business also recently announced 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. This represents a $1.16 annualized dividend and a yield of 1.1%. The ex-dividend date is Friday, November 14th. AGCO’s dividend payout ratio is presently 23.06%.

Insider Activity

In other news, SVP Kelvin Eugene Bennett sold 250 shares of AGCO stock in a transaction on Monday, November 10th. The stock was sold at an average price of $104.28, for a total transaction of $26,070.00. Following the transaction, the senior vice president owned 17,130 shares in the company, valued at $1,786,316.40. The trade was a 1.44% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 16.60% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

AGCO has been the subject of several recent analyst reports. Wall Street Zen raised shares of AGCO from a “hold” rating to a “buy” rating in a report on Saturday, August 2nd. Zacks Research lowered shares of AGCO from a “strong-buy” rating to a “hold” rating in a research report on Friday, September 19th. Oppenheimer restated an “outperform” rating and set a $123.00 price target on shares of AGCO in a research report on Monday, November 3rd. Barclays lifted their price objective on AGCO from $110.00 to $116.00 and gave the stock an “equal weight” rating in a report on Monday, October 20th. Finally, JPMorgan Chase & Co. boosted their price objective on AGCO from $135.00 to $136.00 and gave the stock an “overweight” rating in a research note on Tuesday, October 14th. Three 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 company currently has an average rating of “Hold” and an average price target of $113.70.

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.