Forum Financial Management LP Has $249,000 Holdings in AGCO Corporation $AGCO

Forum Financial Management LP cut its position in AGCO Corporation (NYSE:AGCO) by 11.1% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 2,411 shares of the industrial products company’s stock after selling 302 shares during the quarter. Forum Financial Management LP’s holdings in AGCO were worth $249,000 at the end of the most recent reporting period.

Other hedge funds have also recently bought and sold shares of the company. Citizens National Bank Trust Department boosted its holdings in AGCO by 400.0% in the 1st quarter. Citizens National Bank Trust Department now owns 300 shares of the industrial products company’s stock valued at $28,000 after purchasing an additional 240 shares during the period. Caitong International Asset Management Co. Ltd bought a new stake in AGCO in the 1st quarter valued at $32,000. Geneos Wealth Management Inc. boosted its holdings 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 purchasing an additional 190 shares during the period. Quarry LP bought a new stake in AGCO in the 1st quarter valued at $37,000. Finally, Advantage Trust Co bought a new stake in AGCO in the 2nd quarter valued at $52,000. 78.80% of the stock is owned by institutional investors.

AGCO Trading Up 0.0%

Shares of AGCO stock opened at $108.70 on Tuesday. The stock has a market capitalization of $8.11 billion, a P/E ratio of 81.12, a price-to-earnings-growth ratio of 1.73 and a beta of 1.23. The company has a quick ratio of 0.67, a current ratio of 1.48 and a debt-to-equity ratio of 0.66. The company has a 50-day simple moving average of $109.26 and a 200 day simple moving average of $104.48. AGCO Corporation has a 12-month low of $73.79 and a 12-month high of $121.16.

AGCO (NYSE:AGCO) last announced its earnings results on Thursday, July 31st. The industrial products company reported $1.35 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.06 by $0.29. The business had revenue of $2.64 billion during the quarter, compared to analysts’ expectations of $2.52 billion. AGCO had a net margin of 0.98% and a return on equity of 8.27%. The firm’s revenue for the quarter was down 18.8% on a year-over-year basis. During the same quarter last year, the company posted $2.53 EPS. AGCO has set its FY 2025 guidance at 4.750-5.00 EPS. Research analysts expect that AGCO Corporation will post 4.2 earnings per share for the current fiscal year.

AGCO Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, December 15th. Investors of record on Friday, November 14th will be given a dividend of $0.29 per share. The ex-dividend date is Friday, November 14th. This represents a $1.16 dividend on an annualized basis and a dividend yield of 1.1%. AGCO’s dividend payout ratio (DPR) is 86.57%.

AGCO announced that its board has authorized a stock repurchase plan on Wednesday, July 9th that authorizes the company to repurchase $1.00 billion in shares. This repurchase authorization authorizes the industrial products company to reacquire up to 12.2% of its stock through open market purchases. Stock repurchase plans are generally a sign that the company’s management believes its stock is undervalued.

Analyst Upgrades and Downgrades

AGCO has been the subject of a number of research reports. Truist Financial reduced their price target on shares of AGCO from $143.00 to $142.00 and set a “buy” rating for the company in a report on Wednesday, October 8th. UBS Group reissued a “neutral” rating and issued a $119.00 price target (up from $100.00) on shares of AGCO in a report on Friday, August 8th. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of AGCO in a report on Wednesday, October 8th. Barclays raised their price objective on shares of AGCO from $110.00 to $116.00 and gave the stock an “equal weight” rating in a report on Monday, October 20th. Finally, Citigroup reduced their price objective on shares of AGCO from $125.00 to $120.00 and set a “neutral” rating for the company in a report on Tuesday, September 23rd. Three analysts have rated the stock with a Buy rating, eight have issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, AGCO presently has an average rating of “Hold” and a consensus price target of $116.33.

Insider Activity

In related news, SVP Luis Fernando Sartini Felli sold 10,000 shares of the stock in a transaction dated Monday, August 11th. The shares were sold at an average price of $109.40, for a total transaction of $1,094,000.00. Following the completion of the sale, the senior vice president owned 16,189 shares in the company, valued at $1,771,076.60. This trade represents a 38.18% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. 16.90% of the stock is owned by company insiders.

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.