AGCO (NYSE:AGCO) Shares Down 4.3% – Here’s Why

AGCO Corporation (NYSE:AGCO) dropped 4.3% on Wednesday . The stock traded as low as $105.81 and last traded at $106.3250. Approximately 393,333 shares were traded during trading, a decline of 52% from the average daily volume of 827,385 shares. The stock had previously closed at $111.12.

Analysts Set New Price Targets

Several brokerages have recently issued reports on AGCO. Zacks Research cut AGCO from a “strong-buy” rating to a “hold” rating in a report on Friday, September 19th. Citigroup dropped their price objective on shares of AGCO from $120.00 to $115.00 and set a “neutral” rating for the company in a research note on Monday, November 3rd. UBS Group restated a “neutral” rating and issued a $119.00 target price (up previously from $100.00) on shares of AGCO in a report on Friday, August 8th. Truist Financial reaffirmed a “buy” rating and set a $123.00 price target (down from $142.00) on shares of AGCO in a research note on Monday, November 3rd. Finally, Wall Street Zen raised shares of AGCO from a “hold” rating to a “buy” rating in a research report on Saturday, August 2nd. Three investment analysts have rated the stock with a Buy rating, nine have issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $113.70.

AGCO Stock Down 4.0%

The stock has a market cap of $7.96 billion, a PE ratio of 79.61, a price-to-earnings-growth ratio of 1.73 and a beta of 1.25. The business has a fifty day moving average of $107.08 and a 200-day moving average of $107.29. The company has a debt-to-equity ratio of 0.66, a current ratio of 1.48 and a quick ratio of 0.67.

AGCO (NYSE:AGCO) last issued its earnings results on Friday, October 31st. The industrial products company reported $1.35 earnings per share 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 business had revenue of $2.48 billion during the quarter, compared to analysts’ expectations of $2.48 billion. During the same period in the prior year, the business earned $0.68 EPS. The business’s revenue for the quarter was down 4.7% compared to the same quarter last year. AGCO has set its FY 2025 guidance at 5.000-5.000 EPS. Equities research analysts anticipate that AGCO Corporation will post 4.2 earnings per share for the current year.

AGCO Announces Dividend

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

Insider Buying and Selling at AGCO

In other news, SVP Kelvin Eugene Bennett sold 250 shares of the business’s stock in a transaction on Monday, November 10th. The stock was sold at an average price of $104.28, for a total value of $26,070.00. Following the completion of the transaction, the senior vice president directly owned 17,130 shares of the company’s stock, valued at approximately $1,786,316.40. The trade was a 1.44% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 16.60% of the company’s stock.

Institutional Investors Weigh In On AGCO

A number of large investors have recently modified their holdings of AGCO. Eisler Capital Management Ltd. purchased a new position in AGCO during the second quarter worth approximately $15,979,000. Inspire Investing LLC lifted its position in shares of AGCO by 64.0% during the 1st quarter. Inspire Investing LLC now owns 7,051 shares of the industrial products company’s stock valued at $653,000 after buying an additional 2,752 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its stake in AGCO by 14.0% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 3,306,812 shares of the industrial products company’s stock valued at $306,112,000 after acquiring an additional 405,022 shares during the period. Voya Investment Management LLC increased its holdings in AGCO by 4.2% in the 1st quarter. Voya Investment Management LLC now owns 8,954 shares of the industrial products company’s stock worth $829,000 after acquiring an additional 364 shares in the last quarter. Finally, Neo Ivy Capital Management acquired a new position in AGCO during the second quarter worth $817,000. Hedge funds and other institutional investors own 78.80% of the company’s stock.

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.