Daiwa Securities Group Inc. Acquires 1,450 Shares of AGCO Co. (NYSE:AGCO)

Daiwa Securities Group Inc. boosted its holdings in AGCO Co. (NYSE:AGCO) by 7.0% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 22,100 shares of the industrial products company’s stock after purchasing an additional 1,450 shares during the quarter. Daiwa Securities Group Inc.’s holdings in AGCO were worth $2,683,000 at the end of the most recent quarter.

A number of other hedge funds have also added to or reduced their stakes in the business. Rakuten Securities Inc. bought a new stake in AGCO in the fourth quarter worth approximately $26,000. Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in AGCO by 9.4% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 22,215 shares of the industrial products company’s stock worth $2,697,000 after purchasing an additional 1,905 shares in the last quarter. Cookson Peirce & Co. Inc. increased its holdings in AGCO by 33.4% in the fourth quarter. Cookson Peirce & Co. Inc. now owns 6,062 shares of the industrial products company’s stock worth $736,000 after purchasing an additional 1,517 shares in the last quarter. Mackenzie Financial Corp increased its holdings in AGCO by 3.2% in the fourth quarter. Mackenzie Financial Corp now owns 723,119 shares of the industrial products company’s stock worth $87,794,000 after purchasing an additional 22,687 shares in the last quarter. Finally, Strs Ohio increased its holdings in AGCO by 0.7% in the fourth quarter. Strs Ohio now owns 12,091 shares of the industrial products company’s stock worth $1,467,000 after purchasing an additional 87 shares in the last quarter. 78.80% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on the company. JPMorgan Chase & Co. boosted their price objective on AGCO from $145.00 to $150.00 and gave the company an “overweight” rating in a report on Friday, April 12th. StockNews.com downgraded AGCO from a “buy” rating to a “hold” rating in a report on Friday, February 9th. Oppenheimer boosted their price objective on AGCO from $153.00 to $154.00 and gave the company an “outperform” rating in a report on Tuesday, April 16th. Finally, Truist Financial assumed coverage on AGCO in a report on Thursday, March 14th. They set a “buy” rating and a $142.00 price objective for the company. One investment analyst has rated the stock with a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $150.50.

AGCO Stock Up 1.7 %

Shares of NYSE:AGCO opened at $118.75 on Monday. The stock has a market cap of $8.86 billion, a price-to-earnings ratio of 7.60, a PEG ratio of 0.68 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 Co. has a 12-month low of $105.77 and a 12-month high of $140.46. The business’s 50 day moving average is $115.49 and its 200 day moving average is $117.14.

AGCO (NYSE:AGCO) last announced its earnings results on Tuesday, February 6th. The industrial products company reported $3.78 earnings per share (EPS) for the quarter, missing the consensus estimate of $4.03 by ($0.25). The company 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 quarterly revenue was down 2.5% on a year-over-year basis. During the same period in the previous year, the firm earned $4.47 EPS. On average, sell-side analysts forecast that AGCO Co. will post 13.07 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.