Retirement Systems of Alabama Buys 36,752 Shares of AGCO Corporation $AGCO

Retirement Systems of Alabama boosted its stake in shares of AGCO Corporation (NYSE:AGCO) by 48.7% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 112,159 shares of the industrial products company’s stock after buying an additional 36,752 shares during the quarter. Retirement Systems of Alabama’s holdings in AGCO were worth $11,570,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in AGCO. Price T Rowe Associates Inc. MD lifted its holdings in AGCO by 7.4% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 6,985,474 shares of the industrial products company’s stock valued at $646,648,000 after buying an additional 481,146 shares in the last quarter. Bank of New York Mellon Corp lifted its holdings in AGCO by 62.4% during the 1st quarter. Bank of New York Mellon Corp now owns 1,135,672 shares of the industrial products company’s stock valued at $105,129,000 after buying an additional 436,237 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its holdings in shares of AGCO by 14.0% in the 1st 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 in the last quarter. Dimensional Fund Advisors LP raised its holdings in shares of AGCO by 12.1% in the 1st quarter. Dimensional Fund Advisors LP now owns 3,346,046 shares of the industrial products company’s stock valued at $309,745,000 after purchasing an additional 361,965 shares in the last quarter. Finally, Lord Abbett & CO. LLC raised its holdings in shares of AGCO by 38.7% in the 1st quarter. Lord Abbett & CO. LLC now owns 920,431 shares of the industrial products company’s stock valued at $85,204,000 after purchasing an additional 256,953 shares in the last quarter. Institutional investors own 78.80% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on AGCO shares. Weiss Ratings restated a “hold (c-)” rating on shares of AGCO in a report on Wednesday, October 8th. Wall Street Zen upgraded shares of AGCO from a “hold” rating to a “buy” rating in a report on Saturday, August 2nd. 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. JPMorgan Chase & Co. boosted their price target on shares of AGCO from $135.00 to $136.00 and gave the company an “overweight” rating in a report on Tuesday, October 14th. Finally, Citigroup reduced their price target 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 investment analysts have rated the stock with a Buy rating, eight have given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $116.33.

Insiders Place Their Bets

In other AGCO news, SVP Luis Fernando Sartini Felli sold 10,000 shares of the business’s stock in a transaction that occurred on 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 sale, the senior vice president 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 position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 16.60% of the company’s stock.

AGCO Trading Down 3.0%

NYSE AGCO opened at $102.99 on Friday. 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 firm has a market cap of $7.69 billion, a PE ratio of 76.86, a price-to-earnings-growth ratio of 1.73 and a beta of 1.23. The company has a 50 day moving average price of $108.68 and a 200 day moving average price of $105.08. AGCO Corporation has a 52 week low of $73.79 and a 52 week high of $121.16.

AGCO (NYSE:AGCO) last posted its quarterly earnings data on Friday, October 31st. The industrial products company reported $1.35 EPS for the quarter, topping the consensus estimate of $1.26 by $0.09. The firm had revenue of $2.48 billion during 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%. AGCO’s revenue was down 4.7% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.68 EPS. AGCO has set its FY 2025 guidance at 5.000-5.000 EPS. As a group, sell-side analysts forecast that AGCO Corporation will post 4.2 EPS for the current fiscal year.

AGCO Announces Dividend

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 given a dividend of $0.29 per share. This represents a $1.16 annualized dividend and a yield of 1.1%. The ex-dividend date of this dividend is Friday, November 14th. AGCO’s payout ratio is currently 86.57%.

AGCO announced that its board has authorized a stock repurchase program on Wednesday, July 9th that authorizes the company to buyback $1.00 billion in outstanding shares. This buyback authorization authorizes the industrial products company to buy up to 12.2% of its shares through open market purchases. Shares buyback programs are often an indication that the company’s management believes its shares are undervalued.

AGCO 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.