VIRGINIA RETIREMENT SYSTEMS ET Al Makes New Investment in AGCO Corporation $AGCO

VIRGINIA RETIREMENT SYSTEMS ET Al bought a new position in AGCO Corporation (NYSE:AGCO) during the 2nd quarter, Holdings Channel reports. The institutional investor bought 5,800 shares of the industrial products company’s stock, valued at approximately $598,000.

Several other large investors have also made changes to their positions in the company. Baader Bank Aktiengesellschaft raised its position in shares of AGCO by 3.1% in the 2nd quarter. Baader Bank Aktiengesellschaft now owns 3,794 shares of the industrial products company’s stock worth $390,000 after buying an additional 113 shares during the period. Jones Financial Companies Lllp raised its position in shares of AGCO by 29.7% in the 1st quarter. Jones Financial Companies Lllp now owns 650 shares of the industrial products company’s stock worth $61,000 after buying an additional 149 shares during the period. SummerHaven Investment Management LLC raised its position in shares of AGCO by 2.1% in the 2nd quarter. SummerHaven Investment Management LLC now owns 8,414 shares of the industrial products company’s stock worth $868,000 after buying an additional 173 shares during the period. Empowered Funds LLC raised its position in shares of AGCO by 3.1% in the 1st quarter. Empowered Funds LLC now owns 5,876 shares of the industrial products company’s stock worth $544,000 after buying an additional 176 shares during the period. Finally, Geneos Wealth Management Inc. raised its position in shares of AGCO by 109.2% in the 1st quarter. Geneos Wealth Management Inc. now owns 364 shares of the industrial products company’s stock worth $34,000 after buying an additional 190 shares during the period. 78.80% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research analysts recently weighed in on AGCO shares. Truist Financial cut their target price on AGCO from $143.00 to $142.00 and set a “buy” rating on the stock in a research report on Wednesday, October 8th. Oppenheimer lowered their price target on AGCO from $124.00 to $123.00 and set an “outperform” rating for the company in a report on Thursday, September 18th. Citigroup lowered their price target on AGCO from $125.00 to $120.00 and set a “neutral” rating for the company in a report on Tuesday, September 23rd. UBS Group reiterated 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. Finally, Barclays increased their price target on AGCO from $110.00 to $116.00 and gave the company an “equal weight” rating in a report on Monday, October 20th. Three research analysts have rated the stock with a Buy rating, eight have given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, AGCO presently has an average rating of “Hold” and a consensus target price of $116.33.

Insider Activity

In other news, SVP Luis Fernando Sartini Felli sold 10,000 shares of AGCO stock in a transaction dated Monday, August 11th. The stock was sold at an average price of $109.40, for a total transaction of $1,094,000.00. Following the sale, the senior vice president directly owned 16,189 shares of the company’s stock, valued at approximately $1,771,076.60. The trade was a 38.18% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 16.60% of the company’s stock.

AGCO Stock Down 1.3%

Shares of NYSE AGCO opened at $108.67 on Friday. AGCO Corporation has a 1 year low of $73.79 and a 1 year high of $121.16. The firm has a market cap of $8.11 billion, a price-to-earnings ratio of 81.10, a PEG ratio of 1.76 and a beta of 1.23. The company has a debt-to-equity ratio of 0.66, a quick ratio of 0.67 and a current ratio of 1.48. The stock’s 50-day simple moving average is $109.35 and its 200-day simple moving average is $104.00.

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. AGCO had a return on equity of 8.27% and a net margin of 0.98%.The business had revenue of $2.64 billion for the quarter, compared to analyst estimates of $2.52 billion. During the same period in the previous year, the company earned $2.53 earnings per share. The company’s revenue for the quarter was down 18.8% compared to the same quarter last year. AGCO has set its FY 2025 guidance at 4.750-5.00 EPS. As a group, equities analysts anticipate that AGCO Corporation will post 4.2 earnings per share for the current fiscal year.

AGCO Announces Dividend

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

AGCO announced that its Board of Directors has initiated a share buyback program on Wednesday, July 9th that allows the company to buyback $1.00 billion in outstanding shares. This buyback authorization allows the industrial products company to purchase up to 12.2% of its shares through open market purchases. Shares buyback programs are usually an indication that the company’s board believes its shares are undervalued.

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.