Bank of New York Mellon Corp Sells 128,346 Shares of AGCO Corporation $AGCO

Bank of New York Mellon Corp lessened its holdings in AGCO Corporation (NYSE:AGCO) by 11.3% during the second quarter, Holdings Channel.com reports. The institutional investor owned 1,007,326 shares of the industrial products company’s stock after selling 128,346 shares during the quarter. Bank of New York Mellon Corp’s holdings in AGCO were worth $103,916,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds also recently modified their holdings of the company. Teacher Retirement System of Texas purchased a new position in AGCO in the first quarter worth $1,212,000. Envestnet Asset Management Inc. raised its stake in shares of AGCO by 9.0% during the 1st quarter. Envestnet Asset Management Inc. now owns 99,951 shares of the industrial products company’s stock worth $9,252,000 after purchasing an additional 8,293 shares during the period. M&T Bank Corp boosted its holdings in shares of AGCO by 3.6% in the 1st quarter. M&T Bank Corp now owns 38,977 shares of the industrial products company’s stock worth $3,609,000 after buying an additional 1,356 shares during the last quarter. State of Michigan Retirement System grew its position in AGCO by 1.4% during the first quarter. State of Michigan Retirement System now owns 14,858 shares of the industrial products company’s stock valued at $1,375,000 after buying an additional 200 shares during the period. Finally, Ballentine Partners LLC grew its position in AGCO by 8.3% during the first quarter. Ballentine Partners LLC now owns 2,845 shares of the industrial products company’s stock valued at $263,000 after buying an additional 219 shares during the period. 78.80% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other AGCO news, SVP Luis Fernando Sartini Felli sold 10,000 shares of AGCO stock in a transaction dated 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 completion of the transaction, the senior vice president owned 16,189 shares of the company’s stock, valued at $1,771,076.60. The trade was a 38.18% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 16.60% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several analysts have commented on AGCO shares. Truist Financial reaffirmed a “buy” rating and issued a $123.00 price objective (down previously from $142.00) on shares of AGCO in a research report on Monday, November 3rd. JPMorgan Chase & Co. lifted their price target on shares of AGCO from $135.00 to $136.00 and gave the stock an “overweight” rating in a report on Tuesday, October 14th. Weiss Ratings reiterated a “hold (c-)” rating on shares of AGCO in a research note on Wednesday, October 8th. Barclays increased their price objective on AGCO from $110.00 to $116.00 and gave the company an “equal weight” rating in a report on Monday, October 20th. Finally, Zacks Research lowered AGCO from a “strong-buy” rating to a “hold” rating in a research note on Friday, September 19th. Three research analysts have rated the stock with a Buy rating, eight have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, AGCO has a consensus rating of “Hold” and a consensus target price of $113.67.

AGCO Stock Down 0.1%

AGCO opened at $105.49 on Friday. AGCO Corporation has a 12 month low of $73.79 and a 12 month high of $121.16. The company has a market cap of $7.87 billion, a PE ratio of 78.73, a price-to-earnings-growth ratio of 1.73 and a beta of 1.25. The company has a current ratio of 1.48, a quick ratio of 0.67 and a debt-to-equity ratio of 0.66. The company has a 50 day moving average of $107.98 and a 200 day moving average of $105.78.

AGCO (NYSE:AGCO) last posted its earnings results on Friday, October 31st. The industrial products company reported $1.35 earnings per share (EPS) for the quarter, topping the consensus estimate 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 the consensus estimate of $2.48 billion. During the same quarter in the prior year, the business posted $0.68 earnings per share. The business’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, sell-side analysts expect that AGCO Corporation will post 4.2 EPS for the current year.

AGCO Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 15th. Investors of record on Friday, November 14th will be issued a dividend of $0.29 per share. The ex-dividend date of this dividend is Friday, November 14th. This represents a $1.16 dividend on an annualized basis and a yield of 1.1%. AGCO’s dividend payout ratio is 23.06%.

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.