Form 4 Code S: Tractors & Farm Equipment Ltd, a 10%+ beneficial owner, sold 309,089 shares at $123.28 on 2026-05-05, reducing its stake from 8.9M to 8.6M shares (−3.5%). This is the entity's first Form 4 filing on AGCO; no prior accumulation or disposition history exists. The sale occurred one day before earnings (consensus EPS $0.45 vs. prior $0.94, a 52% decline), at a price 14.1% below the 90-day high, amid mixed analyst coverage (9 buy / 10 hold / 2 sell).

Where it could go — If this reduction signals pre-earnings de-risking by a major shareholder, the 52% EPS miss and mixed consensus suggest downside risk; if the sale reflects portfolio rebalancing unrelated to fundamentals, the 14.1% discount to recent highs may offer entry points for conviction buyers.