AGCO Corporation $AGCO Stake Boosted by Police & Firemen s Retirement System of New Jersey

Police & Firemen s Retirement System of New Jersey raised its position in shares of AGCO Corporation (NYSE:AGCO) by 4.2% in the second quarter, Holdings Channel.com reports. The institutional investor owned 23,436 shares of the industrial products company’s stock after buying an additional 940 shares during the period. Police & Firemen s Retirement System of New Jersey’s holdings in AGCO were worth $2,418,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Caitong International Asset Management Co. Ltd purchased a new position in shares of AGCO in the first quarter worth approximately $32,000. Geneos Wealth Management Inc. grew its position in AGCO by 109.2% during the 1st 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 acquired a new stake in AGCO during the 1st quarter valued at $37,000. Atlantic Union Bankshares Corp purchased a new stake in shares of AGCO in the second quarter valued at $44,000. Finally, Advantage Trust Co acquired a new stake in shares of AGCO in the second quarter worth $52,000. 78.80% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

AGCO has been the topic of several recent analyst reports. UBS Group reissued a “neutral” rating and set a $119.00 price target (up from $100.00) on shares of AGCO in a research report on Friday, August 8th. Oppenheimer reiterated an “outperform” rating and issued a $123.00 target price on shares of AGCO in a report on Monday, November 3rd. Citigroup reduced their price target on shares of AGCO from $120.00 to $115.00 and set a “neutral” rating for the company in a research report on Monday, November 3rd. Zacks Research downgraded shares of AGCO from a “strong-buy” rating to a “hold” rating in a research report on Friday, September 19th. Finally, JPMorgan Chase & Co. upped 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. 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’s stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $113.70.

Insider Transactions at AGCO

In related news, SVP Kelvin Eugene Bennett sold 250 shares of AGCO stock in a transaction on Monday, November 10th. The shares were sold at an average price of $104.28, for a total value of $26,070.00. Following the transaction, the senior vice president owned 17,130 shares in the company, valued at $1,786,316.40. This trade represents a 1.44% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Insiders own 16.90% of the company’s stock.

AGCO Price Performance

NYSE AGCO opened at $102.21 on Wednesday. AGCO Corporation has a fifty-two week low of $73.79 and a fifty-two week high of $121.16. The stock’s 50-day moving average is $107.49 and its two-hundred day moving average is $106.98. The firm has a market cap of $7.63 billion, a P/E ratio of 76.27, a price-to-earnings-growth ratio of 1.73 and a beta of 1.25. The company has a debt-to-equity ratio of 0.66, a current ratio of 1.48 and a quick ratio of 0.67.

AGCO (NYSE:AGCO) last issued its quarterly earnings data on Friday, October 31st. The industrial products company reported $1.35 EPS for the quarter, beating analysts’ consensus estimates of $1.26 by $0.09. AGCO had a return on equity of 8.27% and a net margin of 0.98%.The business had revenue of $2.48 billion for the quarter, compared to analyst estimates of $2.48 billion. During the same quarter in the prior year, the firm posted $0.68 EPS. The firm’s revenue for the quarter was down 4.7% on a year-over-year basis. AGCO has set its FY 2025 guidance at 5.000-5.000 EPS. On average, analysts anticipate that AGCO Corporation will post 4.2 earnings per share for the current fiscal year.

AGCO Dividend Announcement

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

AGCO Company 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.