Wright Investors Service Inc. Invests $491,000 in AGCO Corporation $AGCO

Wright Investors Service Inc. acquired a new position in shares of AGCO Corporation (NYSE:AGCO) in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor acquired 4,588 shares of the industrial products company’s stock, valued at approximately $491,000.

Several other large investors have also bought and sold shares of AGCO. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its stake in AGCO by 46.2% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 4,958 shares of the industrial products company’s stock worth $459,000 after acquiring an additional 1,567 shares in the last quarter. Jones Financial Companies Lllp grew its holdings in shares of AGCO by 29.7% during the 1st quarter. Jones Financial Companies Lllp now owns 650 shares of the industrial products company’s stock valued at $61,000 after purchasing an additional 149 shares during the last quarter. Goldman Sachs Group Inc. increased its position in AGCO by 39.6% during the 1st quarter. Goldman Sachs Group Inc. now owns 215,242 shares of the industrial products company’s stock worth $19,925,000 after purchasing an additional 61,009 shares in the last quarter. Empowered Funds LLC lifted its stake in AGCO by 3.1% in the 1st quarter. Empowered Funds LLC now owns 5,876 shares of the industrial products company’s stock valued at $544,000 after purchasing an additional 176 shares during the last quarter. Finally, Geneos Wealth Management Inc. lifted its stake in AGCO by 109.2% in the 1st quarter. Geneos Wealth Management Inc. now owns 364 shares of the industrial products company’s stock valued at $34,000 after purchasing an additional 190 shares during the last quarter. 78.80% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at AGCO

In related news, SVP Kelvin Eugene Bennett sold 250 shares of AGCO stock in a transaction on Monday, November 10th. The shares were sold at an average price of $104.28, for a total transaction of $26,070.00. Following the completion of the transaction, the senior vice president owned 17,130 shares of the company’s stock, valued at $1,786,316.40. This trade represents a 1.44% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 16.60% of the stock is currently owned by company insiders.

AGCO Price Performance

AGCO stock opened at $113.27 on Friday. The stock’s 50 day moving average is $106.58 and its 200 day moving average is $108.43. AGCO Corporation has a one year low of $73.79 and a one year high of $121.16. The firm has a market cap of $8.45 billion, a P/E ratio of 22.52, a P/E/G ratio of 17.65 and a beta of 1.17. The company has a debt-to-equity ratio of 0.61, a current ratio of 1.58 and a quick ratio of 0.73.

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 3.73% and a return on equity of 9.36%. The business had revenue of $2.48 billion during the quarter, compared to the consensus estimate of $2.48 billion. During the same quarter in the prior year, the firm posted $0.68 EPS. The company’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. As a group, research analysts expect that AGCO Corporation will post 4.2 EPS for the current year.

AGCO Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, March 16th. Stockholders of record on Friday, February 13th will be given a dividend of $0.29 per share. The ex-dividend date is Friday, February 13th. This represents a $1.16 annualized dividend and a dividend yield of 1.0%. AGCO’s dividend payout ratio is 23.06%.

Analysts Set New Price Targets

A number of analysts have weighed in on AGCO shares. Barclays cut shares of AGCO from an “equal weight” rating to an “underweight” rating and decreased their target price for the stock from $116.00 to $93.00 in a research note on Friday, December 19th. Weiss Ratings reissued a “hold (c)” rating on shares of AGCO in a report on Monday, December 22nd. Citigroup upped their target price on AGCO from $115.00 to $120.00 and gave the stock a “neutral” rating in a report on Tuesday. JPMorgan Chase & Co. dropped their target price on AGCO from $127.00 to $123.00 and set an “overweight” rating for the company in a research report on Friday, December 19th. Finally, Truist Financial set a $134.00 price target on AGCO in a research note on Wednesday. Three analysts have rated the stock with a Buy rating, eight have issued a Hold rating and two have issued a Sell rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $111.80.

About AGCO

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.