Renaissance Technologies LLC Sells 96,800 Shares of AGCO Corporation $AGCO

Renaissance Technologies LLC lowered its position in AGCO Corporation (NYSE:AGCO) by 25.9% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 276,700 shares of the industrial products company’s stock after selling 96,800 shares during the period. Renaissance Technologies LLC owned 0.38% of AGCO worth $32,061,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also modified their holdings of AGCO. Massachusetts Financial Services Co. MA increased its stake in shares of AGCO by 3.5% in the fourth quarter. Massachusetts Financial Services Co. MA now owns 2,939,113 shares of the industrial products company’s stock valued at $306,608,000 after buying an additional 98,988 shares in the last quarter. Davis Selected Advisers grew its holdings in AGCO by 13.0% during the 4th quarter. Davis Selected Advisers now owns 2,048,835 shares of the industrial products company’s stock worth $213,736,000 after acquiring an additional 235,913 shares during the last quarter. Swedbank AB increased its position in AGCO by 110.2% in the 4th quarter. Swedbank AB now owns 179,617 shares of the industrial products company’s stock valued at $18,738,000 after acquiring an additional 94,183 shares in the last quarter. Regents Gate Capital LLP bought a new position in shares of AGCO in the fourth quarter worth about $7,094,000. Finally, Y Intercept Hong Kong Ltd acquired a new position in shares of AGCO during the first quarter worth approximately $5,700,000. 78.80% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of analysts recently weighed in on the stock. Truist Financial raised their price target on shares of AGCO from $152.00 to $159.00 and gave the company a “buy” rating in a report on Thursday, July 2nd. DA Davidson started coverage on AGCO in a report on Friday, July 10th. They set a “buy” rating and a $160.00 price objective on the stock. UBS Group reiterated a “neutral” rating and issued a $123.00 price objective on shares of AGCO in a research report on Sunday, May 10th. Weiss Ratings cut AGCO from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Wednesday, May 27th. Finally, Oppenheimer set a $134.00 target price on AGCO in a research report on Wednesday, May 6th. Four equities research analysts have rated the stock with a Buy rating, six have given a Hold rating and two have given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $129.64.

AGCO Stock Up 3.0%

Shares of NYSE:AGCO opened at $123.84 on Wednesday. AGCO Corporation has a one year low of $99.21 and a one year high of $143.78. The company has a 50 day moving average of $115.21 and a 200-day moving average of $118.65. The company has a debt-to-equity ratio of 0.47, a current ratio of 1.29 and a quick ratio of 0.57. The stock has a market cap of $8.97 billion, a price-to-earnings ratio of 11.94, a P/E/G ratio of 0.89 and a beta of 1.07.

AGCO (NYSE:AGCO) last posted its quarterly earnings results on Tuesday, May 5th. The industrial products company reported $0.94 earnings per share for the quarter, topping analysts’ consensus estimates of $0.44 by $0.50. AGCO had a net margin of 7.43% and a return on equity of 9.99%. The business had revenue of $2.34 billion during the quarter, compared to the consensus estimate of $2.26 billion. During the same period in the previous year, the firm posted $0.41 earnings per share. AGCO’s revenue for the quarter was up 14.3% compared to the same quarter last year. AGCO has set its FY 2026 guidance at 6.000-6.000 EPS. On average, sell-side analysts forecast that AGCO Corporation will post 6.2 earnings per share for the current year.

AGCO Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 15th. Shareholders of record on Friday, August 14th will be given a dividend of $0.30 per share. The ex-dividend date is Friday, August 14th. This represents a $1.20 annualized dividend and a dividend yield of 1.0%. AGCO’s payout ratio is presently 11.57%.

Insider Buying and Selling at AGCO

In other news, major shareholder & Farm Equipment Ltd Tractors sold 422,590 shares of the stock in a transaction on Tuesday, May 5th. The stock was sold at an average price of $123.28, for a total value of $52,096,895.20. Following the transaction, the insider owned 3,149,820 shares of the company’s stock, valued at $388,309,809.60. This represents a 11.83% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.62% of the stock is currently owned by company insiders.

AGCO Profile

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.