PNC Financial Services Group Inc. Sells 1,376 Shares of AGCO Corporation $AGCO

PNC Financial Services Group Inc. lowered its holdings in AGCO Corporation (NYSE:AGCO) by 15.4% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 7,574 shares of the industrial products company’s stock after selling 1,376 shares during the quarter. PNC Financial Services Group Inc.’s holdings in AGCO were worth $781,000 at the end of the most recent quarter.

Several other institutional investors have also recently bought and sold shares of the business. Price T Rowe Associates Inc. MD lifted its stake in shares of AGCO by 7.4% in the first quarter. Price T Rowe Associates Inc. MD now owns 6,985,474 shares of the industrial products company’s stock valued at $646,648,000 after buying an additional 481,146 shares in the last quarter. Dimensional Fund Advisors LP raised its holdings in shares of AGCO by 12.1% in the 1st quarter. Dimensional Fund Advisors LP now owns 3,346,046 shares of the industrial products company’s stock worth $309,745,000 after acquiring an additional 361,965 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its position 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 in the last quarter. Davis Selected Advisers boosted its stake in AGCO by 1.8% during the 1st quarter. Davis Selected Advisers now owns 2,027,266 shares of the industrial products company’s stock valued at $187,664,000 after purchasing an additional 35,909 shares during the last quarter. Finally, Mirova US LLC increased its holdings in AGCO by 3.2% during the 2nd quarter. Mirova US LLC now owns 1,253,258 shares of the industrial products company’s stock worth $129,286,000 after purchasing an additional 39,263 shares in the last quarter. Institutional investors and hedge funds own 78.80% of the company’s stock.

AGCO Stock Performance

NYSE AGCO opened at $106.03 on Friday. The company has a market capitalization of $7.91 billion, a PE ratio of 79.13, a price-to-earnings-growth ratio of 1.73 and a beta of 1.25. 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 52-week low of $73.79 and a 52-week high of $121.16. The company has a 50-day simple moving average of $107.13 and a 200 day simple moving average of $106.96.

AGCO (NYSE:AGCO) last released its earnings results on Friday, October 31st. The industrial products company reported $1.35 earnings per share for the quarter, beating analysts’ consensus estimates of $1.26 by $0.09. AGCO had a net margin of 0.98% and a return on equity of 8.27%. The firm had revenue of $2.48 billion for the quarter, compared to analysts’ expectations of $2.48 billion. During the same period in the previous year, the company earned $0.68 earnings per share. The company’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 predict that AGCO Corporation will post 4.2 EPS for the current year.

AGCO Dividend Announcement

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

Analyst Ratings Changes

A number of research firms have recently weighed in on AGCO. Wall Street Zen upgraded AGCO from a “hold” rating to a “buy” rating in a report on Saturday, August 2nd. Weiss Ratings restated a “hold (c)” rating on shares of AGCO in a research note on Thursday, November 13th. Citigroup cut their price objective on shares of AGCO from $120.00 to $115.00 and set a “neutral” rating on the stock in a report on Monday, November 3rd. JPMorgan Chase & Co. increased their target price on shares of AGCO from $135.00 to $136.00 and gave the company an “overweight” rating in a report on Tuesday, October 14th. Finally, Truist Financial reissued a “buy” rating and set a $123.00 price target (down from $142.00) on shares of AGCO in a research report on Monday, November 3rd. Three research analysts have rated the stock with a Buy rating, nine have issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $113.70.

Insider Transactions at AGCO

In other AGCO 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 sale, the senior vice president directly owned 17,130 shares in the company, valued at $1,786,316.40. The trade was a 1.44% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 16.60% of the stock is owned by corporate insiders.

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.