Mirova US LLC Sells 46,717 Shares of AGCO Corporation $AGCO

Mirova US LLC decreased its holdings in shares of AGCO Corporation (NYSE:AGCO) by 3.7% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,206,541 shares of the industrial products company’s stock after selling 46,717 shares during the quarter. AGCO makes up 1.3% of Mirova US LLC’s holdings, making the stock its 28th biggest position. Mirova US LLC owned about 1.62% of AGCO worth $129,184,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Blue Trust Inc. raised its position in shares of AGCO by 18.4% in the third quarter. Blue Trust Inc. now owns 2,640 shares of the industrial products company’s stock valued at $283,000 after purchasing an additional 411 shares during the period. CWM LLC raised its holdings in AGCO by 25.2% in the 3rd quarter. CWM LLC now owns 2,208 shares of the industrial products company’s stock valued at $236,000 after acquiring an additional 445 shares during the period. Inspire Investing LLC lifted its position in AGCO by 52.8% during the third quarter. Inspire Investing LLC now owns 10,004 shares of the industrial products company’s stock worth $1,071,000 after acquiring an additional 3,455 shares during the last quarter. OLD National Bancorp IN bought a new stake in shares of AGCO during the third quarter worth approximately $230,000. Finally, Farther Finance Advisors LLC increased its stake in shares of AGCO by 810.8% during the third quarter. Farther Finance Advisors LLC now owns 2,705 shares of the industrial products company’s stock worth $290,000 after purchasing an additional 2,408 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 firm’s 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 transaction, the senior vice president directly owned 17,130 shares of the company’s stock, valued at $1,786,316.40. This trade 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 this link. 16.90% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on AGCO. Truist Financial reissued a “buy” rating and set a $123.00 target price (down previously from $142.00) on shares of AGCO in a report on Monday, November 3rd. Barclays cut AGCO from an “equal weight” rating to an “underweight” rating and cut their price target for the company from $116.00 to $93.00 in a research note on Friday, December 19th. Zacks Research cut AGCO from a “strong-buy” rating to a “hold” rating in a report on Friday, September 19th. Oppenheimer raised their price target on AGCO from $123.00 to $128.00 and gave the stock an “outperform” rating in a research report on Wednesday, December 3rd. Finally, Weiss Ratings reiterated a “hold (c)” rating on shares of AGCO in a research note on Monday, December 22nd. Three investment analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and two have given a Sell rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $110.60.

AGCO Trading Down 1.0%

Shares of AGCO stock opened at $104.38 on Tuesday. The stock has a 50-day moving average of $106.08 and a 200-day moving average of $107.88. The company has a current ratio of 1.58, a quick ratio of 0.73 and a debt-to-equity ratio of 0.61. The stock has a market cap of $7.79 billion, a price-to-earnings ratio of 20.75, a PEG ratio of 1.68 and a beta of 1.18. AGCO Corporation has a 1-year low of $73.79 and a 1-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 for the quarter, beating 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 business had revenue of $2.48 billion during the quarter, compared to the consensus estimate of $2.48 billion. During the same quarter in the prior year, the firm posted $0.68 EPS. The company’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. On average, equities research analysts forecast that AGCO Corporation will post 4.2 earnings per share for the current year.

AGCO Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, December 15th. Shareholders of record on Friday, November 14th were issued a dividend of $0.29 per share. This represents a $1.16 dividend on an annualized basis and a yield of 1.1%. The ex-dividend date of this dividend was Friday, November 14th. 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.