AGCO Corp. (NYSE: AGCO) stock fell -1.57% on Monday to $116.05 against a previous-day closing price of $117.90. With 0.7 million shares changed hands, the volume of the stock remained heavier than its average volume of 0.61 million shares. During the session, the Farm & Heavy Construction Machinery company that operates in wider Industrials sector, reached to the highest price of $117.42 whereas the lowest price it dropped to was $115.50. The 52-week range on AGCO shows that it touched its highest point at $140.46 and its lowest point at $109.81 during that stretch. It currently has a 1-year price target of $146.54. With its current market cap of 8.69 billion, AGCO has annualized dividend of $7.53 while the current yield stands at 6.49%. Beta for the stock currently stands at 1.36.
Price Performance and Earnings:
Stock performance is one of the indicators that investors use to determine whether they will profit from a stock. The price performance of AGCO was up-trending over the past week, with a rise of 1.58%, but this was up by 2.52% over a month. Three-month performance dropped to -1.39% while six-month performance rose 1.12%. The stock lost -2.22% in the past year, while it has lost -12.75% so far this year. A look at the trailing 12-month EPS for AGCO yields 15.39 with Next year EPS estimates of 14.55. For the next quarter, that number is 4.10. This implies an EPS growth rate of 27.31% for this year and -7.96% for next year. EPS is expected to grow by 3.42% annually over the next five years; however, over the past five years, the company experienced an annual growth rate of 38.58%.
Float and Shares Shorts:
At present, 74.60 million AGCO shares are outstanding with a float of 62.19 million shares on hand for trading. On Oct 30, 2023, short shares totaled 1.09 million, which was 1.45% higher than short shares on Sep 28, 2023. In addition to Mr. Eric P. Hansotia as the firm’s Chairman, President & CEO, Mr. Damon J. Audia serves as its Senior VP & CFO.
Through their ownership of 80.00% of AGCO’s outstanding shares, institutional investors have majority control over the company. Other institutions hold 46.75% of AGCO, in contrast to 30.81% held by mutual funds. Shares owned by individuals account for 19.41%. As the largest shareholder in AGCO with 8.90% of the stake, The Vanguard Group, Inc. holds 6,661,537 shares worth 6,661,537. A second-largest stockholder of AGCO, BlackRock Fund Advisors, holds 4,954,539 shares, controlling over 6.62% of the firm’s shares. LSV Asset Management is the third largest shareholder in AGCO, holding 3,247,294 shares or 4.34% stake. With a 2.66% stake in AGCO, the Vanguard Total Stock Market ETF is the largest stakeholder. A total of 1,989,199 shares are owned by the mutual fund manager. The Victory Sycamore Established Valu, which owns about 2.64% of AGCO stock, is the second-largest Mutual Fund holder. It holds 1,975,000 shares valued at 226.45 million. iShares Core S&P Mid Cap ETF holds 2.56% of the stake in AGCO, owning 1,919,327 shares worth 220.07 million.
Reading analyst opinions is an effective way to decide where to invest, and there are several opinions available for AGCO since 0 analysts follow the stock currently. In the same way, a target price assigned to a stock can also reveal much about its potential. With AGCO analysts setting a high price target of $185.00 and a low target of $112.00, the average target price over the next 12 months is $146.54. Based on these targets, AGCO could surge 59.41% to reach the target high and fall by -3.49% to reach the target low. Reaching the average price target will result in a growth of 26.27% from current levels.
Summary of Insider Activity:
Insiders traded AGCO stock several times over the past three months with 2 Buys and 0 Sells. In these transactions, 24 shares were bought while 0 shares were sold. The number of buy transactions has increased to 51 while that of sell transactions has risen to 55 over the past year. The total number of shares bought during that period was 150,009 while 98,444 shares were sold.