Groesbeck Investment Management Corp NJ Has $283,000 Position in AGCO Co. (NYSE:AGCO)

Groesbeck Investment Management Corp NJ lifted its stake in shares of AGCO Co. (NYSE:AGCO) by 24.9% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 2,331 shares of the industrial products company’s stock after acquiring an additional 465 shares during the period. Groesbeck Investment Management Corp NJ’s holdings in AGCO were worth $283,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in AGCO. Vanguard Group Inc. boosted its position in AGCO by 0.5% in the third quarter. Vanguard Group Inc. now owns 6,755,557 shares of the industrial products company’s stock worth $799,047,000 after purchasing an additional 32,583 shares during the last quarter. Victory Capital Management Inc. increased its position in shares of AGCO by 24.7% during the 3rd quarter. Victory Capital Management Inc. now owns 3,042,378 shares of the industrial products company’s stock valued at $359,852,000 after purchasing an additional 601,877 shares during the last quarter. State Street Corp raised its stake in shares of AGCO by 2.2% during the first quarter. State Street Corp now owns 1,773,305 shares of the industrial products company’s stock worth $239,751,000 after acquiring an additional 38,920 shares in the last quarter. Morgan Stanley boosted its position in AGCO by 1.7% during the third quarter. Morgan Stanley now owns 1,056,379 shares of the industrial products company’s stock valued at $124,949,000 after buying an additional 17,588 shares during the period. Finally, AQR Capital Management LLC grew its position in AGCO by 16.1% during the 3rd quarter. AQR Capital Management LLC now owns 1,028,727 shares of the industrial products company’s stock worth $121,678,000 after acquiring an additional 142,701 shares during the last quarter. 78.80% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities analysts have commented on AGCO shares. StockNews.com cut AGCO from a “buy” rating to a “hold” rating in a research note on Friday, February 9th. Truist Financial started coverage on AGCO in a research note on Thursday, March 14th. They set a “buy” rating and a $142.00 target price on the stock. Oppenheimer lifted their price target on AGCO from $153.00 to $154.00 and gave the company an “outperform” rating in a research report on Tuesday. Finally, JPMorgan Chase & Co. lifted their price target on AGCO from $145.00 to $150.00 and gave the company an “overweight” rating in a research report on Friday, April 12th. One equities research analyst has rated the stock with a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $150.50.

AGCO Stock Up 0.7 %

AGCO stock traded up $0.84 during mid-day trading on Thursday, hitting $117.08. The company had a trading volume of 221,934 shares, compared to its average volume of 682,876. The company has a market capitalization of $8.74 billion, a PE ratio of 7.44, a price-to-earnings-growth ratio of 0.67 and a beta of 1.31. The company has a current ratio of 1.46, a quick ratio of 0.67 and a debt-to-equity ratio of 0.30. AGCO Co. has a 12 month low of $105.77 and a 12 month high of $140.46. The stock’s 50 day moving average price is $115.43 and its two-hundred day moving average price is $117.12.

AGCO (NYSE:AGCO) last posted its quarterly earnings data on Tuesday, February 6th. The industrial products company reported $3.78 EPS for the quarter, missing analysts’ consensus estimates of $4.03 by ($0.25). The firm had revenue of $3.80 billion for the quarter, compared to analysts’ expectations of $4.03 billion. AGCO had a net margin of 8.13% and a return on equity of 26.96%. The firm’s revenue was down 2.5% compared to the same quarter last year. During the same quarter last year, the company posted $4.47 EPS. As a group, sell-side analysts anticipate that AGCO Co. will post 13.05 earnings per share for the current fiscal year.

AGCO Company Profile

AGCO Corporation manufactures and distributes agricultural equipment and related replacement parts worldwide. It offers horsepower tractors for row crop production, soil cultivation, planting, land leveling, seeding, and commercial hay operations; utility tractors for small- and medium-sized farms, as well as for dairy, livestock, orchards, and vineyards; and compact tractors for small farms, specialty agricultural industries, landscaping, equestrian, and residential uses.