Norges Bank Purchases New Holdings in AGCO Corporation $AGCO

Norges Bank acquired a new position in AGCO Corporation (NYSE:AGCO) during the 2nd quarter, HoldingsChannel reports. The fund acquired 762,416 shares of the industrial products company’s stock, valued at approximately $78,651,000.

Several other large investors also recently bought and sold shares of AGCO. Caitong International Asset Management Co. Ltd purchased a new position in shares of AGCO in the first quarter valued at approximately $32,000. Geneos Wealth Management Inc. increased its position in shares of AGCO by 109.2% during the first quarter. Geneos Wealth Management Inc. now owns 364 shares of the industrial products company’s stock worth $34,000 after purchasing an additional 190 shares in the last quarter. Quarry LP acquired a new position in AGCO in the 1st quarter valued at $37,000. Atlantic Union Bankshares Corp purchased a new position in AGCO in the 2nd quarter valued at $44,000. Finally, Advantage Trust Co acquired a new stake in AGCO during the 2nd quarter worth $52,000. 78.80% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at AGCO

In other AGCO news, SVP Kelvin Eugene Bennett sold 250 shares of the company’s stock in a transaction dated Monday, November 10th. The shares were sold at an average price of $104.28, for a total value of $26,070.00. Following the transaction, the senior vice president owned 17,130 shares of the company’s stock, valued at $1,786,316.40. This represents a 1.44% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Company insiders own 16.60% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently commented on AGCO shares. Weiss Ratings reiterated a “hold (c-)” rating on shares of AGCO in a research report on Monday. Truist Financial reiterated a “buy” rating and issued a $123.00 price objective (down previously from $142.00) on shares of AGCO in a report on Monday, November 3rd. Zacks Research lowered shares of AGCO from a “strong-buy” rating to a “hold” rating in a research note on Friday, September 19th. Barclays upped their price target on AGCO from $110.00 to $116.00 and gave the company an “equal weight” rating in a research report on Monday, October 20th. Finally, Oppenheimer lifted their price objective on AGCO from $123.00 to $128.00 and gave the stock an “outperform” rating in a research report on Wednesday. Three 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’s stock. According to data from MarketBeat.com, AGCO has an average rating of “Hold” and a consensus price target of $114.20.

AGCO Stock Performance

AGCO stock opened at $105.67 on Friday. The firm has a 50 day simple moving average of $106.58 and a 200-day simple moving average of $107.24. The stock has a market cap of $7.89 billion, a price-to-earnings ratio of 21.01, a price-to-earnings-growth ratio of 1.68 and a beta of 1.18. 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 Corporation has a 1-year low of $73.79 and a 1-year high of $121.16.

AGCO (NYSE:AGCO) last released its quarterly earnings data on Friday, October 31st. The industrial products company reported $1.35 EPS for the quarter, beating analysts’ consensus estimates of $1.26 by $0.09. The firm had revenue of $2.48 billion for the quarter, compared to analysts’ expectations of $2.48 billion. AGCO had a return on equity of 9.36% and a net margin of 3.73%.The firm’s quarterly revenue was down 4.7% on a year-over-year basis. During the same period in the prior year, the firm posted $0.68 earnings per share. AGCO has set its FY 2025 guidance at 5.000-5.000 EPS. On average, analysts expect that AGCO Corporation will post 4.2 EPS for the current year.

AGCO Announces Dividend

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

About AGCO

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.