Sun Sep 15 11:08:47 UTC 2024: ## Daiwa Securities Cuts Stake in AGCO as Institutional Investors Show Mixed Interest

**New York, NY -** Daiwa Securities Group Inc. has reduced its stake in AGCO Co. (NYSE:AGCO) by 16.6% during the second quarter, according to HoldingsChannel.com. The fund now owns 15,930 shares of the industrial products company, valued at $1,560,000.

While Daiwa Securities decreased its holdings, several other institutional investors adjusted their positions in AGCO during the quarter. Vanguard Group Inc. increased its stake by 11.6%, Victory Capital Management Inc. by 1.7%, and Mirova US LLC by 2.0%. DekaBank Deutsche Girozentrale also lifted its position by 1.8%, while Norges Bank acquired a new position valued at $83,733,000.

Institutional investors currently own 78.80% of AGCO’s stock.

**Analysts Offer Mixed Outlook**

Equities analysts have provided a range of opinions on AGCO’s stock. Oppenheimer lowered its price objective to $132.00 while maintaining an “outperform” rating, while Barclays reduced its target price to $110.00 and assigned an “equal weight” rating. Goldman Sachs lowered its target price to $112.00 and gave a “neutral” rating, while UBS Group lowered its target price to $104.00, also giving a “neutral” rating. BMO Capital Markets initiated coverage with a “market perform” rating and a $96.00 target price.

Overall, one research analyst has rated the stock with a sell rating, six have given a hold rating, and five have assigned a buy rating. MarketBeat.com indicates that AGCO currently has an average rating of “Hold” and a consensus target price of $118.91.

**Mixed Earnings Report and Dividend Announcement**

AGCO reported earnings on July 30th, missing analysts’ consensus estimates for the quarter. The company earned $2.53 per share, missing expectations by $0.37, and reported revenue of $3.25 billion, below analysts’ expectations of $3.48 billion.

Despite the earnings miss, AGCO announced a quarterly dividend of $0.29 per share, payable on September 16th to shareholders of record on August 15th. The ex-dividend date is Thursday, August 15th.

**Insider Trading Activity**

Director Lange Bob De acquired 1,420 shares of AGCO stock on August 5th, while Director Michael C. Arnold acquired 1,800 shares on August 7th.

Insiders currently own 16.60% of the company’s stock.

**Company Overview**

AGCO Corporation manufactures and distributes agricultural equipment and related replacement parts worldwide. Its product line includes tractors, utility tractors, and compact tractors for various agricultural, landscaping, and residential uses.

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