Renaissance Technologies LLC Sells 96,800 Shares of AGCO Corporation $AGCO

Renaissance Technologies LLC trimmed its position in AGCO Corporation (NYSE:AGCO) by 25.9% during the first quarter, HoldingsChannel.com reports. The fund owned 276,700 shares of the industrial products company’s stock after selling 96,800 shares during the period. Renaissance Technologies LLC’s holdings in AGCO were worth $32,061,000 at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. Massachusetts Financial Services Co. MA grew its holdings in AGCO by 3.5% during the fourth quarter. Massachusetts Financial Services Co. MA now owns 2,939,113 shares of the industrial products company’s stock valued at $306,608,000 after purchasing an additional 98,988 shares during the period. Davis Selected Advisers raised its holdings in AGCO by 13.0% in the fourth quarter. Davis Selected Advisers now owns 2,048,835 shares of the industrial products company’s stock worth $213,736,000 after purchasing an additional 235,913 shares during the period. Swedbank AB raised its holdings in AGCO by 110.2% in the fourth quarter. Swedbank AB now owns 179,617 shares of the industrial products company’s stock worth $18,738,000 after purchasing an additional 94,183 shares during the period. Regents Gate Capital LLP bought a new position in shares of AGCO during the fourth quarter worth $7,094,000. Finally, Y Intercept Hong Kong Ltd bought a new position in shares of AGCO during the first quarter worth $5,700,000. 78.80% of the stock is currently owned by institutional investors and hedge funds.

AGCO Stock Performance

Shares of AGCO opened at $123.84 on Wednesday. The company has a debt-to-equity ratio of 0.47, a quick ratio of 0.57 and a current ratio of 1.29. AGCO Corporation has a twelve month low of $99.21 and a twelve month high of $143.78. The firm’s 50 day moving average price is $115.21 and its two-hundred day moving average price is $118.65. The firm has a market cap of $8.97 billion, a P/E ratio of 11.94, a PEG ratio of 0.89 and a beta of 1.07.

AGCO (NYSE:AGCO) last released its quarterly earnings results on Tuesday, May 5th. The industrial products company reported $0.94 earnings per share for the quarter, beating the consensus estimate of $0.44 by $0.50. AGCO had a net margin of 7.43% and a return on equity of 9.99%. The company had revenue of $2.34 billion during the quarter, compared to analysts’ expectations of $2.26 billion. During the same quarter in the prior year, the company earned $0.41 earnings per share. The business’s quarterly revenue was up 14.3% compared to the same quarter last year. AGCO has set its FY 2026 guidance at 6.000-6.000 EPS. On average, analysts forecast that AGCO Corporation will post 6.2 EPS for the current fiscal year.

AGCO Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, September 15th. Investors of record on Friday, August 14th will be paid a $0.30 dividend. The ex-dividend date of this dividend is Friday, August 14th. This represents a $1.20 dividend on an annualized basis and a yield of 1.0%. AGCO’s dividend payout ratio is presently 11.57%.

Analyst Ratings Changes

Several brokerages have recently issued reports on AGCO. DA Davidson started coverage on shares of AGCO in a report on Friday, July 10th. They issued a “buy” rating and a $160.00 price target for the company. Oppenheimer set a $134.00 price objective on AGCO in a research note on Wednesday, May 6th. Morgan Stanley lifted their target price on AGCO from $108.00 to $110.00 and gave the stock an “underweight” rating in a report on Friday, July 17th. Truist Financial boosted their target price on AGCO from $152.00 to $159.00 and gave the company a “buy” rating in a research note on Thursday, July 2nd. Finally, UBS Group restated a “neutral” rating and issued a $123.00 price target on shares of AGCO in a report on Sunday, May 10th. Four equities research analysts have rated the stock with a Buy rating, six have assigned a Hold rating and two have given a Sell rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $129.64.

Insider Transactions at AGCO

In other AGCO news, major shareholder & Farm Equipment Ltd Tractors sold 422,590 shares of the stock in a transaction dated Tuesday, May 5th. The stock was sold at an average price of $123.28, for a total transaction of $52,096,895.20. Following the completion of the transaction, the insider owned 3,149,820 shares in the company, valued at approximately $388,309,809.60. This represents a 11.83% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 0.62% of the company’s stock.

AGCO Profile

AGCO Corporation is a global leader in the design, manufacture and distribution of agricultural machinery and precision farming solutions. Headquartered in Duluth, Georgia, the company markets a diverse portfolio of well-known brands, including Massey Ferguson, Fendt, Challenger, Valtra and GSI, serving farmers and producers in North America, South America, Europe, the Middle East, Africa and Asia Pacific. Through an extensive dealer network, AGCO provides equipment tailored to a broad range of crop and livestock operations.

The company’s product offerings span tractors, combine harvesters, hay and forage tools, application equipment, seeding and tillage implements, as well as grain storage and protein solutions.