VIRGINIA RETIREMENT SYSTEMS ET Al Purchases New Holdings in AGCO Corporation $AGCO

VIRGINIA RETIREMENT SYSTEMS ET Al purchased a new stake in AGCO Corporation (NYSE:AGCO) during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The fund purchased 5,800 shares of the industrial products company’s stock, valued at approximately $598,000.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Tweedy Browne Co LLC acquired a new position in AGCO during the 2nd quarter worth approximately $491,000. ForthRight Wealth Management LLC acquired a new position in AGCO during the 2nd quarter worth approximately $210,000. Deroy & Devereaux Private Investment Counsel Inc. increased its position in AGCO by 30.1% during the 2nd quarter. Deroy & Devereaux Private Investment Counsel Inc. now owns 45,343 shares of the industrial products company’s stock worth $4,678,000 after purchasing an additional 10,478 shares during the period. Fifth Third Wealth Advisors LLC acquired a new position in AGCO during the 2nd quarter worth approximately $219,000. Finally, Blue Trust Inc. grew its holdings in shares of AGCO by 16.8% in the 2nd quarter. Blue Trust Inc. now owns 2,229 shares of the industrial products company’s stock worth $230,000 after acquiring an additional 321 shares during the period. Institutional investors and hedge funds own 78.80% of the company’s stock.

Insider Buying and Selling at AGCO

In other AGCO news, SVP Luis Fernando Sartini Felli sold 10,000 shares of the stock in a transaction on 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 transaction, the senior vice president owned 16,189 shares of the company’s stock, valued at $1,771,076.60. This represents a 38.18% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this link. 16.60% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on AGCO shares. Zacks Research cut AGCO from a “strong-buy” rating to a “hold” rating in a report on Friday, September 19th. Barclays upped their price target on AGCO from $110.00 to $116.00 and gave the stock an “equal weight” rating in a report on Monday, October 20th. Weiss Ratings restated a “hold (c-)” rating on shares of AGCO in a report on Friday. UBS Group restated a “neutral” rating and issued a $119.00 price target (up previously from $100.00) on shares of AGCO in a report on Friday, August 8th. Finally, JPMorgan Chase & Co. upped their price target on AGCO from $135.00 to $136.00 and gave the stock an “overweight” rating in a report on Tuesday, October 14th. Three investment analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, AGCO has a consensus rating of “Hold” and a consensus target price of $116.33.

AGCO Price Performance

Shares of NYSE:AGCO opened at $108.67 on Friday. The business’s fifty day moving average price is $109.35 and its two-hundred day moving average price is $104.00. The stock has a market cap of $8.11 billion, a PE ratio of 81.10, a price-to-earnings-growth 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. AGCO Corporation 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 Thursday, July 31st. The industrial products company reported $1.35 EPS for the quarter, beating analysts’ consensus estimates of $1.06 by $0.29. The firm had revenue of $2.64 billion for the quarter, compared to analysts’ expectations of $2.52 billion. AGCO had a return on equity of 8.27% and a net margin of 0.98%.AGCO’s quarterly revenue was down 18.8% on a year-over-year basis. During the same quarter in the prior year, the firm earned $2.53 EPS. AGCO has set its FY 2025 guidance at 4.750-5.00 EPS. On average, analysts forecast that AGCO Corporation will post 4.2 EPS for the current fiscal year.

AGCO declared that its Board of Directors has authorized a share repurchase 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 buy up to 12.2% of its shares through open market purchases. Shares buyback programs are often an indication that the company’s leadership believes its stock is undervalued.

AGCO Announces Dividend

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 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 dividend payout ratio is currently 86.57%.

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.