AGCO Corporation (NYSE:AGCO) Short Interest Update

AGCO Corporation (NYSE:AGCO) was the target of a significant increase in short interest in October. As of October 15th, there was short interest totaling 2,790,000 shares, an increase of 36.1% from the September 30th total of 2,050,000 shares. Based on an average daily volume of 812,900 shares, the short-interest ratio is presently 3.4 days. Approximately 4.5% of the company’s stock are short sold. Approximately 4.5% of the company’s stock are short sold. Based on an average daily volume of 812,900 shares, the short-interest ratio is presently 3.4 days.

Insider Activity at AGCO

In other news, SVP Luis Fernando Sartini Felli sold 10,000 shares of the business’s stock in a transaction 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 transaction, 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 transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders own 16.60% of the company’s stock.

Institutional Investors Weigh In On AGCO

Hedge funds have recently modified their holdings of the business. Cullen Frost Bankers Inc. lifted its holdings in shares of AGCO by 1,721.4% during the third quarter. Cullen Frost Bankers Inc. now owns 255 shares of the industrial products company’s stock valued at $27,000 after acquiring an additional 241 shares during the period. Pinnacle Bancorp Inc. bought a new position in shares of AGCO during the third quarter valued at $29,000. EverSource Wealth Advisors LLC lifted its holdings in shares of AGCO by 951.9% during the second quarter. EverSource Wealth Advisors LLC now owns 284 shares of the industrial products company’s stock valued at $29,000 after acquiring an additional 257 shares during the period. SJS Investment Consulting Inc. lifted its holdings in shares of AGCO by 3,725.0% during the third quarter. SJS Investment Consulting Inc. now owns 306 shares of the industrial products company’s stock valued at $33,000 after acquiring an additional 298 shares during the period. Finally, Caitong International Asset Management Co. Ltd bought a new position in shares of AGCO during the first quarter valued at $32,000. 78.80% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several analysts recently issued reports on AGCO shares. Barclays upped their price target on shares of AGCO from $110.00 to $116.00 and gave the company an “equal weight” rating in a report on Monday, October 20th. Truist Financial reaffirmed a “buy” rating and issued a $123.00 price target (down from $142.00) on shares of AGCO in a report on Monday. UBS Group reaffirmed 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. Zacks Research cut shares of AGCO from a “strong-buy” rating to a “hold” rating in a report on Friday, September 19th. Finally, Oppenheimer reaffirmed an “outperform” rating and issued a $123.00 price target on shares of AGCO in a report on Monday. Three equities research 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, the company presently has an average rating of “Hold” and a consensus price target of $113.67.

AGCO Price Performance

AGCO traded down $0.50 on Tuesday, reaching $104.76. The company had a trading volume of 601,424 shares, compared to its average volume of 849,653. The company has a fifty day moving average of $108.48 and a 200-day moving average of $105.42. The company has a market capitalization of $7.82 billion, a P/E ratio of 78.18, a PEG ratio of 1.73 and a beta of 1.23. The company has a current ratio of 1.48, a quick ratio of 0.67 and a debt-to-equity ratio of 0.66. AGCO has a one year low of $73.79 and a one year high of $121.16.

AGCO (NYSE:AGCO) last announced its earnings results on Friday, October 31st. The industrial products company reported $1.35 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.68 EPS. AGCO has set its FY 2025 guidance at 5.000-5.000 EPS. As a group, equities research analysts anticipate that AGCO will post 4.2 earnings per share for the current year.

AGCO declared that its Board of Directors has approved a stock repurchase plan 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 reacquire up to 12.2% of its stock through open market purchases. Stock buyback plans are usually an indication that the company’s leadership believes its stock is undervalued.

AGCO Announces Dividend

The business 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 $0.29 dividend. This represents a $1.16 dividend on an annualized basis and a yield of 1.1%. The ex-dividend date is Friday, November 14th. AGCO’s dividend payout ratio is currently 23.06%.

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.