Rakuten Securities Inc. Buys Shares of 212 AGCO Co. (NYSE:AGCO)

Rakuten Securities Inc. acquired a new position in AGCO Co. (NYSE:AGCO) in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor acquired 212 shares of the industrial products company’s stock, valued at approximately $26,000.

Several other hedge funds and other institutional investors have also recently modified their holdings of AGCO. Pacer Advisors Inc. increased its stake in shares of AGCO by 7,297.1% in the 4th quarter. Pacer Advisors Inc. now owns 722,915 shares of the industrial products company’s stock worth $87,769,000 after purchasing an additional 713,142 shares in the last quarter. Millennium Management LLC increased its stake in shares of AGCO by 2,102.6% in the 4th quarter. Millennium Management LLC now owns 725,961 shares of the industrial products company’s stock worth $100,684,000 after purchasing an additional 693,002 shares in the last quarter. Norges Bank purchased a new stake in shares of AGCO in the 4th quarter worth $95,107,000. Victory Capital Management Inc. increased its stake in shares of AGCO by 24.7% in 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 purchasing an additional 601,877 shares in the last quarter. Finally, AQR Capital Management LLC increased its stake in AGCO by 108.4% in the 1st quarter. AQR Capital Management LLC now owns 770,571 shares of the industrial products company’s stock worth $104,181,000 after buying an additional 400,769 shares in the last quarter. 78.80% of the stock is currently owned by hedge funds and other institutional investors.

AGCO Stock Up 0.4 %

AGCO opened at $116.73 on Friday. The firm has a 50-day simple moving average of $115.42 and a two-hundred day simple moving average of $117.12. AGCO Co. has a 52 week low of $105.77 and a 52 week high of $140.46. The company has a market capitalization of $8.71 billion, a PE ratio of 7.47, a price-to-earnings-growth ratio of 0.67 and a beta of 1.31. The company has a quick ratio of 0.67, a current ratio of 1.46 and a debt-to-equity ratio of 0.30.

AGCO (NYSE:AGCO) last released its quarterly earnings data on Tuesday, February 6th. The industrial products company reported $3.78 EPS for the quarter, missing the consensus estimate 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 the consensus estimate of $4.03 billion. During the same period last year, the company earned $4.47 EPS. The firm’s revenue for the quarter was down 2.5% on a year-over-year basis. Analysts forecast that AGCO Co. will post 13.05 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on the company. JPMorgan Chase & Co. increased 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. StockNews.com lowered AGCO from a “buy” rating to a “hold” rating in a research note on Friday, February 9th. 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 for the company. Finally, Oppenheimer increased 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 company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average 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.