Ultime notizie per AGCO (NYSE:AGCO) Azioni

AGCO

Agco is a global manufacturer of agricultural equipment. The company has five core brands: Fendt, Massey Ferguson, Challenger, Valtra, and GSI. Unlike its competitors, Agco's product line extends beyond self-propelled equipment and implements to grain handling systems and livestock management solutions. Its products are available through a global dealer network, which includes about 3,100 dealer and distribution locations. Agco offers retail and wholesale financing to customers through its joint venture with Rabobank, a European food- and agriculture-focused bank.

AGCO Corp

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Nebraska Files Antitrust Lawsuit Against Heavy-Duty Truck Manufacturers Over Plans To Restrict Diesel Truck Output In Favor Of EVs

It was revealed in a recent SEC filing that Bob Lange De, Board Member at AGCO (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/AGCO#NYSE">AGCO</a>) made a noteworthy insider purchase on November 15,.
What Happened: A Form 4 filing with the <a href="https://www.sec.gov/Archives/edgar/data/0000880266/000162828024048034//Archives/edgar/data/880266/000162828024048034/0001628280-24-048034-index.htm">U.S. Securities and Exchange Commission</a> on Friday unveiled that De made a notable purchase of 2,740 shares of AGCO, valuing at $251,532.
As of Friday morning, AGCO shares are down by 0.0%, currently priced at $92.03.
<h3>About AGCO</h3>
Agco is a global manufacturer of agricultural equipment. The company has five core brands: Fendt, Massey Ferguson, Challenger, Valtra, and GSI. Unlike its competitors, Agco's product line extends beyond self-propelled equipment and implements to grain handling systems and livestock management solutions. Its products are available through a global dealer network, which includes about 3,100 dealer and distribution locations. Agco offers retail and wholesale financing to customers through its joint venture with Rabobank, a European food- and agriculture-focused bank.
<h3>Financial Milestones: AGCO's Journey</h3>
Revenue Growth: AGCO's revenue growth over a period of 3 months has faced challenges. As of 30 September, 2024, the company experienced a revenue decline of approximately -24.78%. This indicates a decrease in the company's top-line earnings. When compared to others in the Industrials sector, the company faces challenges, achieving a growth rate lower than the average among peers.
Interpreting Earnings Metrics:
<ul>
<li>
Gross Margin: The company shows a low gross margin of 23.2%, suggesting potential challenges in cost control and profitability compared to its peers.
</li>
<li>
Earnings per Share (EPS): AGCO's EPS is below the industry average. The company faced challenges with a current EPS of 0.4. This suggests a potential decline in earnings.
</li>
</ul>
Debt Management: AGCO's debt-to-equity ratio is below the industry average. With a ratio of 1.0, the company relies less on debt financing, maintaining a healthier balance between debt and equity, which can be viewed positively by investors.
Assessing Valuation Metrics:
<ul>
<li>
Price to Earnings (P/E) Ratio: AGCO's stock is currently priced at a premium level, as reflected in the higher-than-average P/E ratio of 40.85.
</li>
<li>
Price to Sales (P/S) Ratio: The P/S ratio of 0.55 is lower than the industry average, implying a discounted valuation for AGCO's stock in relation to sales performance.
</li>
<li>
EV/EBITDA Analysis (Enterprise Value to its Earnings Before Interest, Taxes, Depreciation &amp; Amortization): At 17.21, the company's EV/EBITDA ratio outperforms industry norms, reflecting positive market perception. This positioning indicates optimistic expectations for the company's future performance.
</li>
</ul>
Market Capitalization Analysis: Positioned below industry benchmarks, the company's market capitalization faces constraints in size. This could be influenced by factors such as growth expectations or operational capacity.
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<h3>Why Insider Transactions Are Important</h3>
Investors should view insider transactions as part of a multifaceted analysis and not rely solely on them for decision-making.
From a legal standpoint, the term "insider" pertains to any officer, director, or beneficial owner holding more than ten percent of a company's equity securities as outlined in Section 12 of the Securities Exchange Act of 1934. This encompasses executives in the c-suite and significant hedge funds. These insiders are mandated to inform the public of their transactions through a Form 4 filing, to be submitted within two business days of the transaction.
A company insider's new purchase is a indicator of their positive anticipation for a rise in the stock.
While insider sells may not necessarily reflect a bearish view and can be motivated by various factors.
<h3>Essential Transaction Codes Unveiled</h3>
Taking a closer look at transactions, <a href="https://www.benzinga.com/money/investing-tools">investors</a> often prioritize those unfolding in the open market, meticulously cataloged in Table I of the Form 4 filing. A P in Box 3 denotes a purchase, while S signifies a sale. Transaction code C denotes the conversion of an option, and transaction code A signifies a grant, award, or other acquisition of securities from the company.
<a href="https://www.benzinga.com/sec/insider-trades/search/index?company_cik=0000880266">Check Out The Full List Of AGCO's Insider Trades.</a>
Insider Buying Alert: Profit from C-Suite Moves
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This article was generated by Benzinga's automated content engine and reviewed by an editor.

Insider Trades

Trading Ideas

Major Purchase Alert: Bob Lange De Invests $251K In AGCO Stock

Goldman Sachs analyst Jerry Revich maintains AGCO (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/AGCO#NYSE">AGCO</a>) with a Neutral and lowers the price target from $112 to $99.

Price Target

Analyst Ratings

Goldman Sachs Maintains Neutral on AGCO, Lowers Price Target to $99

Oppenheimer analyst Kristen Owen maintains AGCO (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/AGCO#NYSE">AGCO</a>) with a Outperform and lowers the price target from $131 to $111.

Oppenheimer Maintains Outperform on AGCO, Lowers Price Target to $111

WIIM

AGCO shares are trading lower after the company reported worse-than-expected Q3 financial results and cut its FY24 guidance below estimates.

AGCO Corp (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/AGCO#NYSE">AGCO</a>) shares slipped after the company reported worse-than-expected third-quarter results and <a target="_blank" href="https://www.benzinga.com/pressreleases/24/11/n41741857/agco-reports-third-quarter-results" rel="noreferrer noopener">lowered its 2024 outlook.</a>
AGCO reported a third-quarter net sales decline of 24.8% year over year to $2.599 billion, missing the consensus of $2.90 billion.
Regional Sales: South America -47% YoY, Europe/Middle East -18.2% YoY, North America -21.8% YoY, and Asia/Pacific/Africa -11.7% YoY.
Adjusted operating income slid 67% year over year to $143.8 million, and the margin contracted by 710 bps to 5.5%. The gross profit declined 35.4% year-over-year to $603.1 million, and the margin declined 383 bps to 23.2%.
The company reported regional operating margin performance with EME at 6.4%, North America at 7.2%, South America at 11.8%, and APA at 3.8%.
Adjusted EPS of $0.68, down from $3.97 a year ago, <a target="_blank" href="https://www.benzinga.com/earnings" rel="noreferrer noopener">missing the consensus of $1.08.</a>
AGCO&#8217;s cash used in operating activities for the nine months ended September was $108 million, down from cash provided of $202.7 million a year ago. As of September 30, cash and equivalents stood at $642.6 million.
&#8220;We continue to execute against our Farmer-First strategy focused on enhancing profitability through the cycle with our three high-margin initiatives, recent portfolio moves and aggressive actions to control expenses including our ongoing restructuring program,&#8221; said Eric&nbsp;Hansotia, AGCO&#8217;s Chairman, President and Chief Executive Officer.
&#8220;The reaffirmation of our full-year adjusted operating margin&nbsp;outlook&nbsp;of&nbsp;9%&nbsp;underscores this transformation, especially considering the significant market downturn in the&nbsp;third quarter. Low commodity prices and high input costs led to increased conservatism from our dealers and farmers resulting in ongoing production cuts to help reduce AGCO and dealer inventories.&#8221;
The company&#8217;s regular quarterly dividend of $0.29 per common share will be paid on December 16 to all stockholders of <a href="https://www.benzinga.com//node/41528553">record as of the close of business on November 15.</a>
2024 Outlook, lowered: The agricultural machinery maker now expects net sales of $12 billion (prior $12.5 billion) versus the $12.445 billion consensus, <a href="https://www.benzinga.com/calendars/guidance">reflecting lower sales volumes.</a>
AGCO now expects adjusted EPS of ~$7.50 (prior $8.00) versus the consensus of $7.93. The company reaffirms its adjusted&nbsp;operating margin expectation of ~9%.
Price Action: AGCO shares are trading lower by 10.4% at $87.66 at the last check Tuesday.

Earnings

Equities

Guidance

Movers

AGCO Shares Drop As Q3 Results Miss Expectations, 2024 Outlook Cut Amid Softened Global Demand

Outlook
On April 1, 2024,&nbsp;AGCO acquired an 85% stake in PTx Trimble, and Trimble retains a 15% stake. AGCO began consolidating the PTx Trimble joint venture into its consolidated financial statements on April 1, 2024. On November 1, 2024, AGCO closed the previously announced divestiture of the Grain &amp; Protein business.
AGCO's net sales for 2024 are expected to be approximately $12.0 billion, reflecting lower sales volumes. Adjusted operating margins are projected to be approximately 9%, reflecting the impacts of lower sales, lower production volumes, increased cost controls and modestly lower investments in engineering. Based on these assumptions, 2024 adjusted earnings per share are targeted at approximately $7.50.

AGCO Lowers 2024 Outlook; Now Sees Net Sales Of Around $12B (Prior $12.5B) Vs. $12.445B Est.; Sees Adjusted EPS Of $7.50 (Prior $8.00) Vs. $7.93 Est.

AGCO (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/AGCO#NYSE">AGCO</a>) reported quarterly earnings of $0.68 per share which missed the analyst consensus estimate of $1.08 by 37.04 percent. This is a 82.87 percent decrease over earnings of $3.97 per share from the same period last year. The company reported quarterly sales of $2.599 billion which missed the analyst consensus estimate of $2.900 billion by 10.39 percent. This is a 24.80 percent decrease over sales of $3.456 billion the same period last year.

Earnings Misses

AGCO Q3 2024 Adj. EPS $0.68 Misses $1.08 Estimate, Sales $2.599B Miss $2.900B Estimate

This whale alert can help traders discover the next big trading opportunities.
Whales are entities with large sums of money and we track their transactions here at Benzinga on our options activity scanner.
Traders will search for circumstances when the market estimation of an option diverges heavily from its normal worth. High amounts of trading activity could push option prices to exaggerated or underestimated levels. 
Below are some instances of options activity happening in the Industrials sector: 
<table>
<thead>
<tr>
<th>Symbol</th>
<th>PUT/CALL</th>
<th>Trade Type</th>
<th>Sentiment</th>
<th>Exp. Date</th>
<th>Strike Price</th>
<th>Total Trade Price</th>
<th>Open Interest</th>
<th>Volume</th>
</tr>
</thead>
<tbody>
<tr>
<td>DAL</td>
<td>CALL</td>
<td>SWEEP</td>
<td>BEARISH</td>
<td>01/17/25</td>
<td>$60.00</td>
<td>$41.5K</td>
<td>18.8K</td>
<td>11.7K</td>
</tr>
<tr>
<td>SMR</td>
<td>CALL</td>
<td>TRADE</td>
<td>BEARISH</td>
<td>11/15/24</td>
<td>$22.00</td>
<td>$180.0K</td>
<td>10.4K</td>
<td>9.7K</td>
</tr>
<tr>
<td>GE</td>
<td>PUT</td>
<td>SWEEP</td>
<td>BEARISH</td>
<td>11/15/24</td>
<td>$190.00</td>
<td>$115.9K</td>
<td>5.5K</td>
<td>2.8K</td>
</tr>
<tr>
<td>PWR</td>
<td>PUT</td>
<td>SWEEP</td>
<td>BEARISH</td>
<td>11/15/24</td>
<td>$310.00</td>
<td>$139.0K</td>
<td>299</td>
<td>228</td>
</tr>
<tr>
<td>WM</td>
<td>CALL</td>
<td>TRADE</td>
<td>BEARISH</td>
<td>11/15/24</td>
<td>$210.00</td>
<td>$30.0K</td>
<td>398</td>
<td>144</td>
</tr>
<tr>
<td>AGCO</td>
<td>PUT</td>
<td>TRADE</td>
<td>BULLISH</td>
<td>02/21/25</td>
<td>$100.00</td>
<td>$35.8K</td>
<td>58</td>
<td>127</td>
</tr>
<tr>
<td>LUNR</td>
<td>CALL</td>
<td>TRADE</td>
<td>BEARISH</td>
<td>01/16/26</td>
<td>$2.50</td>
<td>$42.0K</td>
<td>2.4K</td>
<td>85</td>
</tr>
<tr>
<td>UBER</td>
<td>CALL</td>
<td>TRADE</td>
<td>BULLISH</td>
<td>08/15/25</td>
<td>$90.00</td>
<td>$37.1K</td>
<td>473</td>
<td>83</td>
</tr>
<tr>
<td>CAT</td>
<td>CALL</td>
<td>TRADE</td>
<td>BEARISH</td>
<td>11/15/24</td>
<td>$360.00</td>
<td>$56.4K</td>
<td>909</td>
<td>82</td>
</tr>
<tr>
<td>HON</td>
<td>PUT</td>
<td>TRADE</td>
<td>BULLISH</td>
<td>01/16/26</td>
<td>$210.00</td>
<td>$58.2K</td>
<td>182</td>
<td>51</td>
</tr>
</tbody>
</table>

<h2>Explanation</h2>
These itemized elaborations have been created using the accompanying table. 
• Regarding DAL (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DAL#NYSE">DAL</a>), we observe a call option sweep with bearish sentiment. It expires in 77 day(s) on January 17, 2025. Parties traded 101 contract(s) at a $60.00 strike. This particular call needed to be split into 20 different trades to become filled. The total cost received by the writing party (or parties) was $41.5K, with a price of $410.0 per contract. There were 18817 open contracts at this strike prior to today, and today 11725 contract(s) were bought and sold. 
• For SMR (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SMR#NYSE">SMR</a>), we notice a call option trade that happens to be bearish, expiring in 14 day(s) on November 15, 2024. This event was a transfer of 2000 contract(s) at a $22.00 strike. The total cost received by the writing party (or parties) was $180.0K, with a price of $90.0 per contract. There were 10432 open contracts at this strike prior to today, and today 9795 contract(s) were bought and sold. 
• Regarding GE (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GE#NYSE">GE</a>), we observe a put option sweep with bearish sentiment. It expires in 14 day(s) on November 15, 2024. Parties traded 68 contract(s) at a $190.00 strike. This particular put needed to be split into 4 different trades to become filled. The total cost received by the writing party (or parties) was $115.9K, with a price of $1705.0 per contract. There were 5528 open contracts at this strike prior to today, and today 2841 contract(s) were bought and sold. 
• For PWR (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PWR#NYSE">PWR</a>), we notice a put option sweep that happens to be bearish, expiring in 14 day(s) on November 15, 2024. This event was a transfer of 100 contract(s) at a $310.00 strike. This particular put needed to be split into 24 different trades to become filled. The total cost received by the writing party (or parties) was $139.0K, with a price of $1390.0 per contract. There were 299 open contracts at this strike prior to today, and today 228 contract(s) were bought and sold. 
• Regarding WM (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/WM#NYSE">WM</a>), we observe a call option trade with bearish sentiment. It expires in 14 day(s) on November 15, 2024. Parties traded 50 contract(s) at a $210.00 strike. The total cost received by the writing party (or parties) was $30.0K, with a price of $600.0 per contract. There were 398 open contracts at this strike prior to today, and today 144 contract(s) were bought and sold. 
• Regarding AGCO (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/AGCO#NYSE">AGCO</a>), we observe a put option trade with bullish sentiment. It expires in 112 day(s) on February 21, 2025. Parties traded 46 contract(s) at a $100.00 strike. The total cost received by the writing party (or parties) was $35.8K, with a price of $780.0 per contract. There were 58 open contracts at this strike prior to today, and today 127 contract(s) were bought and sold. 
• Regarding LUNR (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/LUNR#NASDAQ">LUNR</a>), we observe a call option trade with bearish sentiment. It expires in 441 day(s) on January 16, 2026. Parties traded 75 contract(s) at a $2.50 strike. The total cost received by the writing party (or parties) was $42.0K, with a price of $560.0 per contract. There were 2463 open contracts at this strike prior to today, and today 85 contract(s) were bought and sold. 
• For UBER (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/UBER#NYSE">UBER</a>), we notice a call option trade that happens to be bullish, expiring in 287 day(s) on August 15, 2025. This event was a transfer of 75 contract(s) at a $90.00 strike. The total cost received by the writing party (or parties) was $37.1K, with a price of $495.0 per contract. There were 473 open contracts at this strike prior to today, and today 83 contract(s) were bought and sold. 
• For CAT (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CAT#NYSE">CAT</a>), we notice a call option trade that happens to be bearish, expiring in 14 day(s) on November 15, 2024. This event was a transfer of 23 contract(s) at a $360.00 strike. The total cost received by the writing party (or parties) was $56.4K, with a price of $2455.0 per contract. There were 909 open contracts at this strike prior to today, and today 82 contract(s) were bought and sold. 
• For HON (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/HON#NASDAQ">HON</a>), we notice a put option trade that happens to be bullish, expiring in 441 day(s) on January 16, 2026. This event was a transfer of 32 contract(s) at a $210.00 strike. The total cost received by the writing party (or parties) was $58.2K, with a price of $1820.0 per contract. There were 182 open contracts at this strike prior to today, and today 51 contract(s) were bought and sold. 
Options Alert Terminology 
 - Call Contracts: The right to buy shares as indicated in the contract. 
 - Put Contracts: The right to sell shares as indicated in the contract. 
 - Expiration Date: When the contract expires. One must act on the contract by this date if one wants to use it. 
 - Premium/Option Price: The price of the contract. 
For more information, visit our <a href="https://pro.benzinga.com/blog/how-to-understand-option-alerts/">Guide to Understanding Options Alerts</a> or read <a href="https://www.benzinga.com/markets/options">more about unusual options activity</a>. 
This article was generated by Benzinga's automated content engine and reviewed by an editor.

Options

LUNR

UBER

10 Industrials Stocks With Whale Alerts In Today's Session

Citigroup analyst Kyle Menges maintains AGCO (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/AGCO#NYSE">AGCO</a>) with a Neutral and raises the price target from $88 to $100.

Citigroup Maintains Neutral on AGCO, Raises Price Target to $100

8 analysts have shared their evaluations of AGCO (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/AGCO#NYSE">AGCO</a>) during the recent three months, expressing a mix of bullish and bearish perspectives.
The table below offers a condensed view of their recent ratings, showcasing the changing sentiments over the past 30 days and comparing them to the preceding months.
<table>
<thead>
<tr>
<th></th>
<th style="text-align: right;">Bullish</th>
<th style="text-align: right;">Somewhat Bullish</th>
<th style="text-align: right;">Indifferent</th>
<th style="text-align: right;">Somewhat Bearish</th>
<th style="text-align: right;">Bearish</th>
</tr>
</thead>
<tbody>
<tr>
<td>Total Ratings</td>
<td style="text-align: right;">2</td>
<td style="text-align: right;">3</td>
<td style="text-align: right;">3</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
</tr>
<tr>
<td>Last 30D</td>
<td style="text-align: right;">1</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
</tr>
<tr>
<td>1M Ago</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
</tr>
<tr>
<td>2M Ago</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
</tr>
<tr>
<td>3M Ago</td>
<td style="text-align: right;">1</td>
<td style="text-align: right;">3</td>
<td style="text-align: right;">3</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
</tr>
</tbody>
</table>
Analysts have recently evaluated AGCO and provided 12-month price targets. The average target is $116.38, accompanied by a high estimate of $132.00 and a low estimate of $96.00. Experiencing a 9.68% decline, the current average is now lower than the previous average price target of $128.86. 
<img src="https://www.benzinga.com/files/images/story/2024/1728493226_0.png" alt="price target chart" />
<h2>Diving into Analyst Ratings: An In-Depth Exploration</h2>
The standing of AGCO among financial experts is revealed through an in-depth exploration of recent analyst actions. The summary below outlines key analysts, their recent evaluations, and adjustments to ratings and price targets.
<table>
<thead>
<tr>
<th>Analyst</th>
<th>Analyst Firm</th>
<th>Action Taken</th>
<th>Rating</th>
<th>Current Price Target</th>
<th>Prior Price Target</th>
</tr>
</thead>
<tbody>
<tr>
<td>Jamie Cook</td>
<td>Truist Securities</td>
<td>Raises</td>
<td>Buy</td>
<td>$127.00</td>
<td>$118.00</td>
</tr>
<tr>
<td>Joel Jackson</td>
<td>BMO Capital</td>
<td>Announces</td>
<td>Market Perform</td>
<td>$96.00</td>
<td>-</td>
</tr>
<tr>
<td>Ann Duignan</td>
<td>JP Morgan</td>
<td>Lowers</td>
<td>Overweight</td>
<td>$115.00</td>
<td>$130.00</td>
</tr>
<tr>
<td>Steven Fisher</td>
<td>UBS</td>
<td>Lowers</td>
<td>Neutral</td>
<td>$104.00</td>
<td>$107.00</td>
</tr>
<tr>
<td>Jamie Cook</td>
<td>Truist Securities</td>
<td>Lowers</td>
<td>Buy</td>
<td>$118.00</td>
<td>$130.00</td>
</tr>
<tr>
<td>Mircea Dobre</td>
<td>Baird</td>
<td>Lowers</td>
<td>Outperform</td>
<td>$129.00</td>
<td>$139.00</td>
</tr>
<tr>
<td>Kristen Owen</td>
<td>Oppenheimer</td>
<td>Lowers</td>
<td>Outperform</td>
<td>$132.00</td>
<td>$133.00</td>
</tr>
<tr>
<td>Adam Seiden</td>
<td>Barclays</td>
<td>Lowers</td>
<td>Equal-Weight</td>
<td>$110.00</td>
<td>$145.00</td>
</tr>
</tbody>
</table>
<h3>Key Insights:</h3>
<ul>
<li>Action Taken: Analysts adapt their recommendations to changing market conditions and company performance. Whether they 'Maintain', 'Raise' or 'Lower' their stance, it reflects their response to recent developments related to AGCO. This information provides a snapshot of how analysts perceive the current state of the company.</li>
<li>Rating: Delving into assessments, analysts assign qualitative values, from 'Outperform' to 'Underperform'. These ratings communicate expectations for the relative performance of AGCO compared to the broader market.</li>
<li>Price Targets: Analysts predict movements in price targets, offering estimates for AGCO's future value. Examining the current and prior targets offers insights into analysts' evolving expectations.</li>
</ul>
Assessing these analyst evaluations alongside crucial financial indicators can provide a comprehensive overview of AGCO's market position. Stay informed and make well-judged decisions with the assistance of our Ratings Table.
<a href="https://www.benzinga.com/quote/AGCO/analyst-ratings?utm_source=Benzinga Insights">Stay up to date on AGCO analyst ratings.</a>
<h2>Unveiling the Story Behind AGCO</h2>
Agco is a global manufacturer of agricultural equipment. The company has five core brands: Fendt, Massey Ferguson, Challenger, Valtra, and GSI. Unlike its competitors, Agco's product line extends beyond self-propelled equipment and implements to grain handling systems and livestock management solutions. Its products are available through a global dealer network, which includes about 3,100 dealer and distribution locations. Agco offers retail and wholesale financing to customers through its joint venture with Rabobank, a European food- and agriculture-focused bank.
<h3>AGCO's Economic Impact: An Analysis</h3>
Market Capitalization Analysis: Reflecting a smaller scale, the company's market capitalization is positioned below industry averages. This could be attributed to factors such as growth expectations or operational capacity.
Revenue Growth: AGCO's revenue growth over a period of 3 months has faced challenges. As of 30 June, 2024, the company experienced a revenue decline of approximately -15.07%. This indicates a decrease in the company's top-line earnings. When compared to others in the Industrials sector, the company faces challenges, achieving a growth rate lower than the average among peers.
Net Margin: AGCO's net margin falls below industry averages, indicating challenges in achieving strong profitability. With a net margin of -11.31%, the company may face hurdles in effective cost management.
Return on Equity (ROE): AGCO's ROE is below industry standards, pointing towards difficulties in efficiently utilizing equity capital. With an ROE of -8.33%, the company may encounter challenges in delivering satisfactory returns for shareholders.
Return on Assets (ROA): The company's ROA is below industry benchmarks, signaling potential difficulties in efficiently utilizing assets. With an ROA of -2.71%, the company may need to address challenges in generating satisfactory returns from its assets.
Debt Management: AGCO's debt-to-equity ratio stands notably higher than the industry average, reaching 1.0. This indicates a heavier reliance on borrowed funds, raising concerns about financial leverage.
<h2>Understanding the Relevance of Analyst Ratings</h2>
Analyst ratings serve as essential indicators of stock performance, provided by experts in banking and financial systems. These specialists diligently analyze company financial statements, participate in conference calls, and engage with insiders to generate quarterly ratings for individual stocks.
In addition to their assessments, some analysts extend their insights by offering predictions for key metrics such as earnings, revenue, and growth estimates. This supplementary information provides further guidance for traders. It is crucial to recognize that, despite their specialization, analysts are human and can only provide forecasts based on their beliefs.
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This article was generated by Benzinga's automated content engine and reviewed by an editor.

Unveiling 8 Analyst Insights On AGCO

Truist Securities analyst Jamie Cook maintains AGCO (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/AGCO#NYSE">AGCO</a>) with a Buy and raises the price target from $118 to $127.

Truist Securities Maintains Buy on AGCO, Raises Price Target to $127

<ul>
<li>Highlights TAFE's integral role in building the Massey Ferguson brand in India over the last six decades</li>
<li>Believes AGCO's recent attempt to terminate TAFE's right to use the Massey Ferguson brand in India violates the interim status quo order of the Commercial Court in Chennai</li>
<li>Questions the timing of AGCO's decision to terminate its long-standing partnership with TAFE after TAFE raised concerns regarding AGCO's strategy and performance in its capacity as a long-term, strategic shareholder</li>
</ul>
Tractors and Farm Equipment Limited ("TAFE" or "we") today announced that it has filed a contempt petition against AGCO Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/AGCO#NYSE">AGCO</a>) ("AGCO" or the "Company") for violating an interim status quo order from the Commercial Court in Chennai by attempting to terminate TAFE's right to use the Massey Ferguson brand in India. TAFE's case regarding its ownership of the Massey Ferguson brand is ongoing in the Madras High Court.

Legal

Global

TAFE Asserts Rightful Ownership Of Massey Ferguson Brand In India And Files Contempt Of Court Petition Against AGCO

AGCO Responds To TAFE Letter, Criticizing Misaligned Interests And Highlighting Recent Legal Victory And Termination Of TAFE's Massey Ferguson Trademark Rights In India

Reiterates TAFE's Commitment to Unlocking AGCO's Full Potential as a Long-Term, Strategic Investor That is Firmly Aligned With Fellow Shareholders
Tractors and Farm Equipment Limited (together with certain of its affiliates, "TAFE" or "we"), is the largest shareholder of AGCO Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/AGCO#NYSE">AGCO</a>) ("AGCO" or the "Company") with a 16.3% long-term strategic ownership interest in the Company. Today, TAFE issued the following open letter to its fellow shareholders.
&#x2A;&#x2A;&#x2A;
September 30, 2024
Fellow Shareholders,
Tractors and Farm Equipment Ltd. (together with certain of its affiliates, "TAFE" or "we") is the largest shareholder of AGCO Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/AGCO#NYSE">AGCO</a>) ("AGCO" or the "Company"), with ownership of approximately 16.3% of the Company's outstanding shares. We are also a long-term shareholder who has spent more than a decade trying to enable the Company to grow and create enhanced value for all stakeholders. We believe our significant shareholdings and track record of constructive engagement demonstrate that our interests are squarely aligned with your interests.
Given our experience allocating capital and operating businesses within the agricultural machinery sector, we have firm conviction in AGCO's future growth potential. As the Company has struggled in recent years to integrate acquisitions and expand into new markets, we have drawn on our experience to provide leadership with pragmatic suggestions. Unfortunately, AGCO has responded by ignoring these ideas, taking measures to disenfranchise TAFE, and isolating our representative on the Board of Directors (the "Board"). This seemingly unjustifiable intransigence has resulted in the deterioration of the Company's competitive position and financial performance versus peers and is now forcing us to deviate from our preferred method of private engagement.
It should speak volumes about AGCO's current state that TAFE, a long-term, strategic investor with an extremely patient outlook and no history of public activism, feels compelled to bring its concerns to fellow shareholders. AGCO's issues have also led us to begin assessing the ways in which a strategic transformation can be implemented, with new and independent directors who possess the expertise required to lead a lasting turnaround. A thoughtfully restructured and more empowered Board will be best positioned to enhance governance practices, establish capital allocation and cost containment guardrails, prioritize operational excellence, and effectively supervise management.

Management

TAFE Issues Letter To AGCO Shareholders Outlining Opportunities For Improved Corporate Governance And Enhanced Value Creation; Believes Shareholder-Driven Changes To AGCO's Board And Strategy Are Necessary Following Strategic Missteps And Execution Issues That Have Led To A Loss Of Significant Market Share

Canada&#8217;s railway strike could <a href="https://www.benzinga.com/news/global/24/08/40497103/strikes-at-us-ports-canadas-railways-may-cause-container-freight-rate-volatility">have major impacts </a>on various sectors and companies in the U.S. that rely on goods and commodities from the second-largest company in the world.
Canadian National Railway&nbsp;Company (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CNI#NYSE">CNI</a>) and Canadian Pacific Kansas City Ltd. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CP#NYSE">CP</a>) said they locked out their workers and shut their networks in Canada early on Thursday after labor negotiations with the Teamsters Canada Rail Conference failed to result in a new union contract, Reuters reported.
Canada uses railways extensively to export grain, automobiles, potash, coal and other goods that are sold by companies &#8212; about $277 billion worth annually.
Thursday&#8217;s stoppage by these two Canadian railways could prove to be a major shock to U.S. companies and sectors because of the amount of goods and commodities they carry in North America.
Canadian National Railway Company operates 20,000 miles of railroad that spans the entire width of Canada and follows the Mississippi River all the way to the Gulf of Mexico.
The Canadian Pacific Kansas City also runs a 20,000-mile network that covers Canada from east to west but also travels down through the U.S. and into Mexico.
Read Also: <a href="https://www.benzinga.com/news/global/24/08/40451543/transatlantic-container-shipping-volumes-rise-as-possible-strike-at-u-s-ports-hovers">Transatlantic Container Shipping Volumes Rise As Possible Strike At U.S. Ports Hovers</a>
Here are some sectors that stand to be hurt by the rail stoppage:
<h2 class="wp-block-heading">Automobile</h2>
The U.S. imported and exported transportation equipment worth about $73 billion respectively in 2023 from Canada, according to the International Trade Administration. Canadian National&#8217;s website said it carries over 2 million finished vehicles a yearon an annual basis and services 12 North American vehicle assembly plants.
Canadian Pacific Kansas City caters to about 90% of automotive assembly plants in Mexico, it said on its website.
Price Action: Major automobile manufacturers had mixed performances into Thursday&#8217;s mid-afternoon trading.
<ul>
<li>Ford Motor Company (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/F#NYSE">F</a>) rose 0.69% to $10.93</li>
<li>General Motors (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GM#NYSE">GM</a>) ticked up 0.05% to $46.58</li>
<li>Stellantis N.V. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/STLA#NYSE">STLA</a>) slipped 1.30% to $16.34</li>
<li>Tesla, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>) fell 3.84% to $214.70 </li>
</ul>
<h2 class="wp-block-heading">Timber</h2>
Canada&#8217;s timber exports totaled $3.5 billion in 2022, according to Canadian government data.
 Pulp producer Mercer International&nbsp;(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MERC#NASDAQ">MERC</a>) said it was working on contingency plans for alternative transport methods in response to the strike.
Price Action: Major lumber retailers and producers trended downward on Thursday.
<ul>
<li>The Home Depot, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/HD#NYSE">HD</a>) fell 1.17% to $366.12</li>
<li>Lowe&#8217;s Companies, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/LOW#NYSE">LOW</a>) declined 0.68% to $240.72</li>
<li>Weyerhaeuser Company (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/WY#NYSE">WY</a>) dropped 0.53% to $30.25</li>
<li>West Fraser Timber Co. Ltd. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/WFG#NYSE">WFG</a>) slipped 0.61% to $80.52</li>
</ul>
<h2 class="wp-block-heading">Grains And Agricultural Products</h2>
Nearly three dozen North American&nbsp;agricultural groups have warned that a simultaneous stoppage would be very severe on bulk commodity exporters in both Canada and the United States.
Price Action: Major manufacturers of grains and agricultural products saw losses on Thursday.
<ul>
<li>Tyson Foods (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TSN#NYSE">TSN</a>) declined 0.60% to $62.93</li>
<li>The Mosaic Company (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MOS#NYSE">MOS</a>) dipped 0.29% to $27.84</li>
<li>AGCO (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/AGCO#NYSE">AGCO</a>) slid 0.32% to $89.19</li>
</ul>
Read Now: 
<ul>
<li><a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/08/40375185/home-depots-price-forecasts-for-2024-lowered-by-analysts-amid-modest-sales-growth-c">Home Depot&#8217;s Price Forecasts For 2024 Lowered By Analysts Amid Modest Sales Growth, Cite Weaker Consumer Outlook</a></li>
</ul>

Markets

MERC

STLA

TSLA

2 Railway Strikes, 3 US Sectors In Trouble: $277B In Goods At Stake As Canadian Unions Call For New Contracts

11 analysts have shared their evaluations of AGCO (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/AGCO#NYSE">AGCO</a>) during the recent three months, expressing a mix of bullish and bearish perspectives.
The table below offers a condensed view of their recent ratings, showcasing the changing sentiments over the past 30 days and comparing them to the preceding months.
<table>
<thead>
<tr>
<th></th>
<th style="text-align: right;">Bullish</th>
<th style="text-align: right;">Somewhat Bullish</th>
<th style="text-align: right;">Indifferent</th>
<th style="text-align: right;">Somewhat Bearish</th>
<th style="text-align: right;">Bearish</th>
</tr>
</thead>
<tbody>
<tr>
<td>Total Ratings</td>
<td style="text-align: right;">1</td>
<td style="text-align: right;">5</td>
<td style="text-align: right;">5</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
</tr>
<tr>
<td>Last 30D</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">1</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
</tr>
<tr>
<td>1M Ago</td>
<td style="text-align: right;">1</td>
<td style="text-align: right;">3</td>
<td style="text-align: right;">3</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
</tr>
<tr>
<td>2M Ago</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">2</td>
<td style="text-align: right;">1</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
</tr>
<tr>
<td>3M Ago</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
</tr>
</tbody>
</table>
In the assessment of 12-month price targets, analysts unveil insights for AGCO, presenting an average target of $117.0, a high estimate of $133.00, and a low estimate of $96.00. A negative shift in sentiment is evident as analysts have decreased the average price target by 11.58%. 
<img src="https://www.benzinga.com/files/images/story/2024/1723204829_0.png" alt="price target chart" />
<h2>Deciphering Analyst Ratings: An In-Depth Analysis</h2>
A comprehensive examination of how financial experts perceive AGCO is derived from recent analyst actions. The following is a detailed summary of key analysts, their recent evaluations, and adjustments to ratings and price targets.
<table>
<thead>
<tr>
<th>Analyst</th>
<th>Analyst Firm</th>
<th>Action Taken</th>
<th>Rating</th>
<th>Current Price Target</th>
<th>Prior Price Target</th>
</tr>
</thead>
<tbody>
<tr>
<td>Joel Jackson</td>
<td>BMO Capital</td>
<td>Announces</td>
<td>Market Perform</td>
<td>$96.00</td>
<td>-</td>
</tr>
<tr>
<td>Ann Duignan</td>
<td>JP Morgan</td>
<td>Lowers</td>
<td>Overweight</td>
<td>$115.00</td>
<td>$130.00</td>
</tr>
<tr>
<td>Steven Fisher</td>
<td>UBS</td>
<td>Lowers</td>
<td>Neutral</td>
<td>$104.00</td>
<td>$107.00</td>
</tr>
<tr>
<td>Jamie Cook</td>
<td>Truist Securities</td>
<td>Lowers</td>
<td>Buy</td>
<td>$118.00</td>
<td>$130.00</td>
</tr>
<tr>
<td>Mircea Dobre</td>
<td>Baird</td>
<td>Lowers</td>
<td>Outperform</td>
<td>$129.00</td>
<td>$139.00</td>
</tr>
<tr>
<td>Kristen Owen</td>
<td>Oppenheimer</td>
<td>Lowers</td>
<td>Outperform</td>
<td>$132.00</td>
<td>$133.00</td>
</tr>
<tr>
<td>Adam Seiden</td>
<td>Barclays</td>
<td>Lowers</td>
<td>Equal-Weight</td>
<td>$110.00</td>
<td>$145.00</td>
</tr>
<tr>
<td>Jerry Revich</td>
<td>Goldman Sachs</td>
<td>Lowers</td>
<td>Neutral</td>
<td>$112.00</td>
<td>$127.00</td>
</tr>
<tr>
<td>Ann Duignan</td>
<td>JP Morgan</td>
<td>Lowers</td>
<td>Overweight</td>
<td>$130.00</td>
<td>$135.00</td>
</tr>
<tr>
<td>Kyle Menges</td>
<td>Citigroup</td>
<td>Announces</td>
<td>Neutral</td>
<td>$108.00</td>
<td>-</td>
</tr>
<tr>
<td>Kristen Owen</td>
<td>Oppenheimer</td>
<td>Lowers</td>
<td>Outperform</td>
<td>$133.00</td>
<td>$145.00</td>
</tr>
</tbody>
</table>
<h3>Key Insights:</h3>
<ul>
<li>Action Taken: In response to dynamic market conditions and company performance, analysts update their recommendations. Whether they 'Maintain', 'Raise', or 'Lower' their stance, it signifies their reaction to recent developments related to AGCO. This insight gives a snapshot of analysts' perspectives on the current state of the company.</li>
<li>Rating: Gaining insights, analysts provide qualitative assessments, ranging from 'Outperform' to 'Underperform'. These ratings reflect expectations for the relative performance of AGCO compared to the broader market.</li>
<li>Price Targets: Analysts navigate through adjustments in price targets, providing estimates for AGCO's future value. Comparing current and prior targets offers insights into analysts' evolving expectations.</li>
</ul>
Navigating through these analyst evaluations alongside other financial indicators can contribute to a holistic understanding of AGCO's market standing. Stay informed and make data-driven decisions with our Ratings Table.
<a href="https://www.benzinga.com/quote/AGCO/analyst-ratings?utm_source=Benzinga Insights">Stay up to date on AGCO analyst ratings.</a>
<h2>About AGCO</h2>
Agco is a global manufacturer of agricultural equipment. The company has five core brands: Fendt, Massey Ferguson, Challenger, Valtra, and GSI. Unlike its competitors, Agco's product line extends beyond self-propelled equipment and implements to grain handling systems and livestock management solutions. Its products are available through a global dealer network, which includes about 3,100 dealer and distribution locations. Agco offers retail and wholesale financing to customers through its joint venture with Rabobank, a European food- and agriculture-focused bank.
<h3>Financial Insights: AGCO</h3>
Market Capitalization Analysis: Positioned below industry benchmarks, the company's market capitalization faces constraints in size. This could be influenced by factors such as growth expectations or operational capacity.
Revenue Growth: AGCO displayed positive results in 3 months. As of 30 June, 2024, the company achieved a solid revenue growth rate of approximately 10.85%. This indicates a notable increase in the company's top-line earnings. As compared to competitors, the company surpassed expectations with a growth rate higher than the average among peers in the Industrials sector.
Net Margin: AGCO's net margin surpasses industry standards, highlighting the company's exceptional financial performance. With an impressive -11.31% net margin, the company effectively manages costs and achieves strong profitability.
Return on Equity (ROE): AGCO's ROE is below industry averages, indicating potential challenges in efficiently utilizing equity capital. With an ROE of -8.33%, the company may face hurdles in achieving optimal financial returns.
Return on Assets (ROA): AGCO's ROA is below industry standards, pointing towards difficulties in efficiently utilizing assets. With an ROA of -2.71%, the company may encounter challenges in delivering satisfactory returns from its assets.
Debt Management: AGCO's debt-to-equity ratio surpasses industry norms, standing at 1.0. This suggests the company carries a substantial amount of debt, posing potential financial challenges.
<h2>Analyst Ratings: What Are They?</h2>
Analysts work in banking and financial systems and typically specialize in reporting for stocks or defined sectors. Analysts may attend company conference calls and meetings, research company financial statements, and communicate with insiders to publish "analyst ratings" for stocks. Analysts typically rate each stock once per quarter.
Analysts may enhance their evaluations by incorporating forecasts for metrics like growth estimates, earnings, and revenue, delivering additional guidance to investors. It is vital to acknowledge that, although experts in stocks and sectors, analysts are human and express their opinions when providing insights.
This article was generated by Benzinga's automated content engine and reviewed by an editor.

A Closer Look at 11 Analyst Recommendations For AGCO

BMO Capital analyst Joel Jackson initiates coverage on AGCO (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/AGCO#NYSE">AGCO</a>) with a Market Perform rating and announces Price Target of $96.

Initiation

BMO Capital Initiates Coverage On AGCO with Market Perform Rating, Announces Price Target of $96

A new SEC filing reveals that Bob Lange De, Director at AGCO (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/AGCO#NYSE">AGCO</a>), made a notable insider purchase on August 6,.
What Happened: In a significant move reported in a Form 4 filing with the <a href="https://www.sec.gov/Archives/edgar/data/0000880266/000162828024035237//Archives/edgar/data/880266/000162828024035237/0001628280-24-035237-index.htm">U.S. Securities and Exchange Commission</a> on Tuesday, De purchased 1,420 shares of AGCO, demonstrating confidence in the company's growth potential. The total value of the transaction stands at $124,832.
Tracking the Wednesday's morning session, AGCO shares are trading at $88.75, showing a up of 2.03%.
<h3>Delving into AGCO's Background</h3>
Agco is a global manufacturer of agricultural equipment. The company has five core brands: Fendt, Massey Ferguson, Challenger, Valtra, and GSI. Unlike its competitors, Agco's product line extends beyond self-propelled equipment and implements to grain handling systems and livestock management solutions. Its products are available through a global dealer network, which includes about 3,100 dealer and distribution locations. Agco offers retail and wholesale financing to customers through its joint venture with Rabobank, a European food- and agriculture-focused bank.
<h3>Financial Milestones: AGCO's Journey</h3>
Revenue Growth: AGCO's revenue growth over a period of 3 months has been noteworthy. As of 30 June, 2024, the company achieved a revenue growth rate of approximately 10.85%. This indicates a substantial increase in the company's top-line earnings. As compared to competitors, the company surpassed expectations with a growth rate higher than the average among peers in the Industrials sector.
Profitability Metrics: Unlocking Value
<ul>
<li>
Gross Margin: The company shows a low gross margin of 25.8%, indicating concerns regarding cost management and overall profitability relative to its industry counterparts.
</li>
<li>
Earnings per Share (EPS): AGCO's EPS reflects a decline, falling below the industry average with a current EPS of -4.92.
</li>
</ul>
Debt Management: The company maintains a balanced debt approach with a debt-to-equity ratio below industry norms, standing at 1.0.
Market Valuation:
<ul>
<li>
Price to Earnings (P/E) Ratio: The current P/E ratio of 15.53 is below industry norms, indicating potential undervaluation and presenting an investment opportunity.
</li>
<li>
Price to Sales (P/S) Ratio: With a lower-than-average P/S ratio of 0.48, the stock presents an attractive valuation, potentially signaling a buying opportunity for investors interested in sales performance.
</li>
<li>
EV/EBITDA Analysis (Enterprise Value to its Earnings Before Interest, Taxes, Depreciation &amp; Amortization): The company's EV/EBITDA ratio 11.15 is below the industry average, indicating that it may be relatively undervalued compared to peers.
</li>
</ul>
Market Capitalization Analysis: Reflecting a smaller scale, the company's market capitalization is positioned below industry averages. This could be attributed to factors such as growth expectations or operational capacity.
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<h3>Why Insider Activity Matters in Finance</h3>
Considering insider transactions is valuable, but it's crucial to evaluate them in conjunction with other investment factors.
In legal terms, an "insider" refers to any officer, director, or beneficial owner of more than ten percent of a company's equity securities registered under Section 12 of the Securities Exchange Act of 1934. This can include executives in the c-suite and large hedge funds. These insiders are required to let the public know of their transactions via a Form 4 filing, which must be filed within two business days of the transaction.
When a company insider makes a new purchase, that is an indication that they expect the stock to rise.
Insider sells, on the other hand, can be made for a variety of reasons, and may not necessarily mean that the seller thinks the stock will go down. 
<h3>Transaction Codes To Focus On</h3>
Examining transactions, <a href="https://www.benzinga.com/money/investing-tools">investors</a> often concentrate on those unfolding in the open market, meticulously detailed in Table I of the Form 4 filing. A P in Box 3 denotes a purchase, while S signifies a sale. Transaction code C indicates the conversion of an option, and transaction code A denotes a grant, award, or other acquisition of securities from the company.
<a href="https://www.benzinga.com/sec/insider-trades/search/index?company_cik=0000880266">Check Out The Full List Of AGCO's Insider Trades.</a>
This article was generated by Benzinga's automated content engine and reviewed by an editor.

Director Of AGCO Purchased $124K In Stock

A heat wave is set to sweep across several regions of the United States as 2024 shapes up to be one of the <a href="https://www.benzinga.com/markets/equities/24/07/39583371/july-fourth-heat-california-faces-blackout-and-fire-risks-this-week-during-triple-digit-temperat">hottest years on record</a>.
The Forecast: Nearly 150 million Americans are under heat warnings or watches on Thursday, <a href="https://www.weather.gov/images/crh/dhs/wwa_population.png">per</a> the National Weather Service.
<a href="https://www.axios.com/2024/08/01/heat-wave-intensifies-worsening-wildfires">According</a> to Axios, temperatures will exceed 110 degrees in several areas of the country until Aug. 7 — Texas, Oklahoma, Nebraska, Kansas, North and South Dakota, Eastern Washington, inland California and Western Missouri.
There are also excessive heat warnings in regions of Oregon, Montana, Arkansas, Illinois, Mississippi and Tennessee.
The <a href="https://www.axios.com/2024/07/25/wildfires-california-canada-evacuations-jasper">ongoing</a> Park Fire in California is the fifth-largest forest fire in the state&#8217;s history. The fire&#8217;s origin is <a href="https://www.axios.com/2024/07/25/wildfires-california-canada-evacuations-jasper">attributed</a> to extreme heat and dry weather conditions.
The scorching hot temperatures are not just a public health risk. It will also affect several companies with operations in the U.S.
Market Implications: The earth&#8217;s rising temperatures have drastically affected the energy industry, as heat causes outages and operational strain. The use of electricity tends to go up — <a href="https://www.benzinga.com/top-stories/24/07/40043897/household-energy-bills-rose-over-50-in-3-states-over-past-5-years-but-remained-stable-in-this-region">along with prices</a> — during heat waves as residents stay inside and use air conditioning. Here are a few companies that will invariably be affected:
<ul>
<li>Black Hills Corp (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BKH#NYSE">BKH</a>) is a large utility company operating in Nebraska, Kansas and Arkansas — three of the most affected states this week.</li>
<li>OGE Energy Corp (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/OGE#NYSE">OGE</a>) is the largest utilities provider in Oklahoma.</li>
<li>Evergy Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/EVRG#NASDAQ">EVRG</a>) is the largest electricity provider in Kansas.</li>
<li>PG&amp;E Corp (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PCG#NYSE">PCG</a>) operates in California and has taken several wildfire-related losses in the past decade.</li>
</ul>
Home improvement retailers Lowe&#8217;s Companies Inc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/LOW#NYSE">LOW</a>) and Home Depot Inc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/HD#NYSE">HD</a>) may see increased demand for air conditioning units. Walmart Inc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/WMT#NYSE">WMT</a>) also sells air conditioners. 
Generac Holdings Inc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GNRC#NYSE">GNRC</a>) manufactures generators. Home and industrial generators typically see increased demand following extreme weather events.
The heatwave will also affect the agriculture and food industries:
<ul>
<li>Meat producer Tyson Foods Inc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TSN#NYSE">TSN</a>) has operational centers in several affected states.</li>
<li>There may be an increase in demand for irrigation equipment and heat-resistant machinery manufactured by Deere &amp; Co (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DE#NYSE">DE</a>) and Agco Corp (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/AGCO#NYSE">AGCO</a>)</li>
<li>Corteva Inc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CTVA#NYSE">CTVA</a>) sells crop protection products that help farmers manage drought-induced crop loss.</li>
</ul>
Also Read:
<ul>
<li><a href="https://www.benzinga.com/economics/macro-economic-events/24/08/40103631/us-manufacturing-activity-decreases-for-fourth-straight-month-hits-8-month-low-co">US Manufacturing Activity Decreases For Fourth Straight Month, Hits 8-Month Low: &#8216;Companies Show An Unwillingness To Invest In Capital&#8217;</a></li>
</ul>
Image created using artificial intelligence via Midjourney.

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August Heat Wave Grips US: 12 Stocks To Watch As Blistering Temperatures Affect Nearly 150 Million Americans

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