Ethic Inc. has significantly reduced its investment in AGCO Corporation, as reported on December 15, 2023. The institutional investor decreased its stake by **53.1%** during the third quarter, selling **4,701 shares** and now holding **4,156 shares** valued at approximately **$445,000** based on its most recent SEC filing.
This adjustment in Ethic Inc.’s portfolio comes amid broader trading activity in AGCO stocks, with several large investors making notable changes to their positions. For instance, **EverSource Wealth Advisors LLC** dramatically increased its stake by **951.9%** in the second quarter, acquiring an additional **257 shares** to reach a total of **284 shares**, valued at **$29,000**. Similarly, **Geneos Wealth Management Inc.** raised its position by **109.2%**, now owning **364 shares** worth **$34,000** after adding **190 shares**.
Other institutions also entered the AGCO market, including **Atlantic Union Bankshares Corp**, which purchased a new stake valued at **$44,000**, and **Advantage Trust Co**, acquiring a new position worth **$52,000**. Notably, **Hantz Financial Services Inc.** increased its holdings by an impressive **1,425.0%**, now owning **549 shares** valued at **$57,000**. Currently, institutional investors hold **78.80%** of AGCO’s stock.
Analysts Weigh In on AGCO’s Future
Market analysts have provided mixed forecasts for AGCO, impacting investor sentiment. In a report dated **December 19, 2023**, **JPMorgan Chase & Co.** lowered its target price for AGCO shares from **$127.00** to **$123.00**, maintaining an “overweight” rating. Conversely, **Zacks Research** downgraded AGCO from a “strong-buy” to a “hold” rating on **September 19, 2023**.
Further adjustments came from **UBS Group**, which reduced its target price to **$115.00** while retaining a “neutral” rating. Meanwhile, **Oppenheimer** boosted its target to **$128.00**, giving the stock an “outperform” rating. According to **MarketBeat**, the consensus rating for AGCO stands at “Hold,” with an average price target of **$110.20**.
Insider Trading Activity
In related news, **Kelvin Eugene Bennett**, Senior Vice President at AGCO, sold **250 shares** on **November 10, 2023**, for a total of **$26,070** at an average price of **$104.28** per share. Following this transaction, Bennett’s holdings decreased by **1.44%**, leaving him with **17,130 shares** valued at approximately **$1.79 million**. Company insiders currently own **16.60%** of AGCO’s stock.
Current Financial Performance
AGCO shares opened at **$106.57** on the day following these developments. The company reported a debt-to-equity ratio of **0.61** and a current ratio of **1.58**. Over the past year, AGCO’s stock has fluctuated between a low of **$73.79** and a high of **$121.16**, contributing to a market capitalization of **$7.95 billion**.
AGCO’s latest quarterly earnings report, released on **October 31, 2023**, showed an earnings per share (EPS) of **$1.35**, surpassing analyst expectations of **$1.26**. The company recorded revenues of **$2.48 billion**, consistent with consensus estimates, although this represented a **4.7%** decrease compared to the same quarter last year.
For fiscal year **2025**, AGCO has set its EPS guidance at **$5.00**. Analysts anticipate that the company will achieve an EPS of **$4.20** for the current year.
AGCO also recently declared a quarterly dividend of **$0.29 per share**, which was paid on **December 15, 2023**, to investors of record as of **November 14, 2023**. This dividend represents an annualized payout of **$1.16** per share, yielding **1.1%**.
About AGCO Corporation
Based in **Duluth, Georgia**, AGCO Corporation is a leading manufacturer and distributor of agricultural machinery and precision farming solutions. The company markets a variety of well-known brands, including **Massey Ferguson**, **Fendt**, **Challenger**, **Valtra**, and **GSI**. AGCO serves a global market, providing equipment tailored to diverse agricultural operations through an extensive dealer network. The company’s product line includes tractors, combine harvesters, hay and forage tools, application equipment, and grain storage solutions.
For ongoing updates and detailed reports on AGCO and its market activities, investors can visit HoldingsChannel.com to access the latest 13F filings and insider trades.
