AIA Group Ltd Buys 5,504 Shares of AGCO Co. (NYSE:AGCO)

AIA Group Ltd raised its holdings in shares of AGCO Co. (NYSE:AGCO) by 203.9% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 8,204 shares of the industrial products company’s stock after purchasing an additional 5,504 shares during the period. AIA Group Ltd’s holdings in AGCO were worth $996,000 at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. Quarry LP boosted its stake in AGCO by 278.0% during the 2nd quarter. Quarry LP now owns 189 shares of the industrial products company’s stock valued at $25,000 after purchasing an additional 139 shares during the last quarter. FinTrust Capital Advisors LLC purchased a new position in shares of AGCO in the 3rd quarter worth $26,000. Rakuten Securities Inc. purchased a new position in shares of AGCO in the 4th quarter worth $26,000. Legacy Financial Group LLC purchased a new position in shares of AGCO in the 3rd quarter worth $27,000. Finally, BluePath Capital Management LLC purchased a new position in shares of AGCO in the 3rd quarter worth $35,000. 78.80% of the stock is currently owned by hedge funds and other institutional investors.

AGCO Price Performance

NYSE AGCO opened at $118.80 on Friday. The company has a market capitalization of $8.86 billion, a PE ratio of 7.60, a price-to-earnings-growth ratio of 0.66 and a beta of 1.31. The company has a debt-to-equity ratio of 0.30, a quick ratio of 0.67 and a current ratio of 1.46. The business’s fifty day moving average is $115.49 and its 200 day moving average is $117.13. AGCO Co. has a fifty-two week low of $105.77 and a fifty-two week high of $140.46.

AGCO (NYSE:AGCO) last posted its quarterly earnings results 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 business had revenue of $3.80 billion for the quarter, compared to the consensus estimate of $4.03 billion. AGCO had a net margin of 8.13% and a return on equity of 26.96%. AGCO’s revenue was down 2.5% compared to the same quarter last year. During the same period in the prior year, the business earned $4.47 earnings per share. Sell-side analysts predict that AGCO Co. will post 13.07 earnings per share for the current year.

Analyst Upgrades and Downgrades

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

About AGCO

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.