BNP PARIBAS ASSET MANAGEMENT Holding S.A. Takes Position in AGCO Corporation $AGCO

BNP PARIBAS ASSET MANAGEMENT Holding S.A. purchased a new stake in AGCO Corporation (NYSE:AGCO) in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 669 shares of the industrial products company’s stock, valued at approximately $69,000.

A number of other hedge funds have also made changes to their positions in AGCO. Caitong International Asset Management Co. Ltd purchased a new position in shares of AGCO in the first quarter valued at $32,000. Geneos Wealth Management Inc. increased its position in shares of AGCO by 109.2% in the first quarter. Geneos Wealth Management Inc. now owns 364 shares of the industrial products company’s stock valued at $34,000 after buying an additional 190 shares in the last quarter. Quarry LP purchased a new position in shares of AGCO in the first quarter valued at $37,000. Advantage Trust Co purchased a new position in shares of AGCO in the second quarter valued at $52,000. Finally, Brooklyn Investment Group increased its position in shares of AGCO by 98.7% in the first quarter. Brooklyn Investment Group now owns 590 shares of the industrial products company’s stock valued at $55,000 after buying an additional 293 shares in the last quarter. Hedge funds and other institutional investors own 78.80% of the company’s stock.

Wall Street Analysts Forecast Growth

AGCO has been the subject of a number of recent research reports. Barclays lifted their price objective on AGCO from $110.00 to $116.00 and gave the stock an “equal weight” rating in a research report on Monday, October 20th. Truist Financial reiterated a “buy” rating and set a $123.00 price objective (down previously from $142.00) on shares of AGCO in a research report on Monday. Zacks Research cut AGCO from a “strong-buy” rating to a “hold” rating in a research report on Friday, September 19th. Oppenheimer reiterated an “outperform” rating and set a $123.00 price objective on shares of AGCO in a research report on Monday. Finally, JPMorgan Chase & Co. lifted their price objective on AGCO from $135.00 to $136.00 and gave the stock an “overweight” rating in a research report on Tuesday, October 14th. Three research 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. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $113.67.

Insider Transactions at AGCO

In other AGCO news, SVP Luis Fernando Sartini Felli sold 10,000 shares of the firm’s stock in a transaction dated Monday, August 11th. The stock was sold at an average price of $109.40, for a total value 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. This trade represents a 38.18% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 16.60% of the company’s stock.

AGCO Stock Up 2.0%

Shares of NYSE:AGCO opened at $106.77 on Thursday. The stock’s 50-day moving average price is $108.18 and its two-hundred day moving average price is $105.60. 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 Corporation has a 12-month low of $73.79 and a 12-month high of $121.16. The firm has a market cap of $7.97 billion, a price-to-earnings ratio of 79.68, a PEG ratio of 1.73 and a beta of 1.23.

AGCO (NYSE:AGCO) last issued its quarterly earnings results on Friday, October 31st. The industrial products company reported $1.35 earnings per share (EPS) for the quarter, topping 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 firm had revenue of $2.48 billion for the quarter, compared to analyst estimates of $2.48 billion. During the same period last year, the company earned $0.68 EPS. The firm’s quarterly revenue 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, research analysts forecast that AGCO Corporation will post 4.2 EPS for the current year.

AGCO Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 15th. Shareholders of record on Friday, November 14th will be paid a $0.29 dividend. This represents a $1.16 dividend on an annualized basis and a yield of 1.1%. The ex-dividend date of this dividend is Friday, November 14th. AGCO’s dividend payout ratio (DPR) is presently 23.06%.

AGCO declared that its board has authorized a stock repurchase plan on Wednesday, July 9th that permits the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization permits the industrial products company to repurchase up to 12.2% of its shares through open market purchases. Shares repurchase plans are often a sign that the company’s board of directors believes its stock is 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.