Franklin Resources Inc. Increases Holdings in AGCO Corporation $AGCO

Franklin Resources Inc. increased its stake in AGCO Corporation (NYSE:AGCO) by 300.8% during the second quarter, according to its most recent filing with the SEC. The fund owned 10,698 shares of the industrial products company’s stock after buying an additional 8,029 shares during the quarter. Franklin Resources Inc.’s holdings in AGCO were worth $1,104,000 at the end of the most recent quarter.

Other institutional investors also recently added to or reduced their stakes in the company. JPMorgan Chase & Co. increased its holdings in AGCO by 78.7% during the second quarter. JPMorgan Chase & Co. now owns 1,955,740 shares of the industrial products company’s stock worth $201,755,000 after buying an additional 861,377 shares during the last quarter. Price T Rowe Associates Inc. MD increased its stake in shares of AGCO by 7.4% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 6,985,474 shares of the industrial products company’s stock worth $646,648,000 after purchasing an additional 481,146 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its stake in shares of AGCO by 14.0% during 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 worth $306,112,000 after purchasing an additional 405,022 shares during the last quarter. Dimensional Fund Advisors LP lifted its stake in AGCO by 12.1% in the first quarter. Dimensional Fund Advisors LP now owns 3,346,046 shares of the industrial products company’s stock valued at $309,745,000 after purchasing an additional 361,965 shares during the last quarter. Finally, Lord Abbett & CO. LLC lifted its stake in AGCO by 38.7% in the first quarter. Lord Abbett & CO. LLC now owns 920,431 shares of the industrial products company’s stock valued at $85,204,000 after purchasing an additional 256,953 shares during the last quarter. Institutional investors own 78.80% of the company’s stock.

Analysts Set New Price Targets

Several analysts have issued reports on the company. UBS Group restated a “neutral” rating and issued a $119.00 target price (up from $100.00) on shares of AGCO in a research note on Friday, August 8th. JPMorgan Chase & Co. boosted their price objective on AGCO from $135.00 to $136.00 and gave the company an “overweight” rating in a research note on Tuesday, October 14th. Truist Financial reaffirmed a “buy” rating and set a $123.00 price objective (down from $142.00) on shares of AGCO in a report on Monday, November 3rd. Wells Fargo & Company started coverage on shares of AGCO in a research note on Thursday, November 13th. They issued an “equal weight” rating and a $114.00 target price for the company. Finally, Weiss Ratings restated a “hold (c-)” rating on shares of AGCO in a research note on Monday. Three equities research analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $114.20.

AGCO Stock Performance

NYSE AGCO opened at $105.29 on Friday. The company’s 50 day simple moving average is $106.49 and its two-hundred day simple moving average is $107.23. 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. The stock has a market capitalization of $7.86 billion, a PE ratio of 20.93, a P/E/G ratio of 1.69 and a beta of 1.18.

AGCO (NYSE:AGCO) last released its quarterly 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 net margin of 3.73% and a return on equity of 9.36%. The firm had revenue of $2.48 billion for the quarter, compared to analysts’ expectations of $2.48 billion. During the same quarter in the prior year, the firm posted $0.68 earnings per share. The business’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. Analysts predict that AGCO Corporation will post 4.2 earnings per share for the current fiscal year.

AGCO Dividend Announcement

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

Insider Activity

In other news, SVP Kelvin Eugene Bennett sold 250 shares of the business’s stock in a transaction dated Monday, November 10th. The stock was 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 approximately $1,786,316.40. The trade was a 1.44% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 16.60% 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.