Federated Hermes Inc. Raises Position in AGCO Co. (NYSE:AGCO)

Federated Hermes Inc. increased its position in shares of AGCO Co. (NYSE:AGCO) by 2.8% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 154,489 shares of the industrial products company’s stock after purchasing an additional 4,171 shares during the period. Federated Hermes Inc. owned approximately 0.21% of AGCO worth $18,757,000 as of its most recent SEC filing.

A number of other hedge funds have also recently added to or reduced their stakes in the company. Lecap Asset Management Ltd. acquired a new position in shares of AGCO during the 4th quarter worth $1,082,000. Vontobel Holding Ltd. increased its stake in AGCO by 6.5% in the 4th quarter. Vontobel Holding Ltd. now owns 106,351 shares of the industrial products company’s stock valued at $12,912,000 after purchasing an additional 6,494 shares in the last quarter. Nordea Investment Management AB raised its holdings in AGCO by 1.7% during the fourth quarter. Nordea Investment Management AB now owns 61,828 shares of the industrial products company’s stock worth $7,492,000 after purchasing an additional 1,036 shares during the last quarter. Vanguard Group Inc. grew its holdings 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 valued at $799,047,000 after purchasing an additional 32,583 shares during the last quarter. Finally, Invesco Ltd. increased its holdings in AGCO by 53.1% during the 3rd quarter. Invesco Ltd. now owns 374,810 shares of the industrial products company’s stock valued at $44,333,000 after acquiring an additional 130,051 shares in the last quarter. Institutional investors and hedge funds own 78.80% of the company’s stock.

AGCO Stock Up 1.7 %

Shares of AGCO stock opened at $118.75 on Monday. The company has a fifty day moving average price of $115.49 and a 200 day moving average price of $117.14. 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 twelve month low of $105.77 and a twelve month high of $140.46. The stock has a market cap of $8.86 billion, a price-to-earnings ratio of 7.60, a price-to-earnings-growth ratio of 0.68 and a beta of 1.31.

AGCO (NYSE:AGCO) last posted its 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). The company had revenue of $3.80 billion during the quarter, compared to analyst estimates of $4.03 billion. AGCO had a net margin of 8.13% and a return on equity of 26.96%. AGCO’s quarterly revenue was down 2.5% compared to the same quarter last year. During the same quarter last year, the business posted $4.47 EPS. Equities research analysts forecast that AGCO Co. will post 13.07 earnings per share for the current fiscal year.

Analyst Ratings Changes

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