AGCO Co. (NYSE:AGCO) Stock Position Lifted by Wedge Capital Management L L P NC

Wedge Capital Management L L P NC boosted its stake in shares of AGCO Co. (NYSE:AGCO) by 0.7% during the fourth quarter, Holdings Channel reports. The fund owned 99,375 shares of the industrial products company’s stock after acquiring an additional 684 shares during the period. Wedge Capital Management L L P NC’s holdings in AGCO were worth $12,065,000 at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of the stock. Pacer Advisors Inc. boosted its holdings in AGCO by 7,297.1% in the fourth quarter. Pacer Advisors Inc. now owns 722,915 shares of the industrial products company’s stock worth $87,769,000 after acquiring an additional 713,142 shares in the last quarter. Victory Capital Management Inc. grew its holdings in 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 worth $359,852,000 after acquiring an additional 601,877 shares in the last quarter. Royal London Asset Management Ltd. acquired a new position in shares of AGCO during the 3rd quarter worth $38,690,000. Migdal Insurance & Financial Holdings Ltd. increased its stake in shares of AGCO by 83.8% in the third quarter. Migdal Insurance & Financial Holdings Ltd. now owns 318,000 shares of the industrial products company’s stock worth $37,613,000 after buying an additional 145,000 shares during the last quarter. Finally, AQR Capital Management LLC lifted its holdings in AGCO by 16.1% in the 3rd quarter. AQR Capital Management LLC now owns 1,028,727 shares of the industrial products company’s stock valued at $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

AGCO has been the subject of several research reports. Oppenheimer increased their price objective on AGCO from $153.00 to $154.00 and gave the company an “outperform” rating in a research report on Tuesday, April 16th. JPMorgan Chase & Co. boosted their target price on AGCO from $145.00 to $150.00 and gave the stock an “overweight” rating in a report on Friday, April 12th. StockNews.com lowered AGCO from a “buy” rating to a “hold” rating in a research report on Friday, February 9th. Finally, Truist Financial started coverage on AGCO in a research note on Thursday, March 14th. They issued a “buy” rating and a $142.00 target price on the stock. One equities research analyst has rated the stock with a hold rating and five have assigned a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $150.50.

AGCO Stock Up 1.2 %

Shares of AGCO traded up $1.43 during mid-day trading on Tuesday, hitting $120.60. 50,932 shares of the company’s stock were exchanged, compared to its average volume of 681,574. AGCO Co. has a 52 week low of $105.77 and a 52 week high of $140.46. The company has a debt-to-equity ratio of 0.30, a current ratio of 1.46 and a quick ratio of 0.67. The company has a market cap of $9.00 billion, a PE ratio of 7.63, a P/E/G ratio of 0.68 and a beta of 1.31. The company has a 50-day simple moving average of $115.49 and a 200 day simple moving average of $117.15.

AGCO (NYSE:AGCO) last announced its quarterly earnings results on Tuesday, February 6th. The industrial products company reported $3.78 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $4.03 by ($0.25). AGCO had a net margin of 8.13% and a return on equity of 26.96%. The company had revenue of $3.80 billion for the quarter, compared to analysts’ expectations of $4.03 billion. During the same period in the previous year, the business earned $4.47 EPS. The business’s revenue was down 2.5% compared to the same quarter last year. On average, research analysts forecast that AGCO Co. will post 13.07 earnings per share for the current fiscal year.

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.