Louisiana State Employees Retirement System Makes New Investment in AGCO Co. (NYSE:AGCO)

Louisiana State Employees Retirement System bought a new position in shares of AGCO Co. (NYSE:AGCO) during the 4th quarter, Holdings Channel reports. The institutional investor bought 17,500 shares of the industrial products company’s stock, valued at approximately $2,125,000.

Several other hedge funds have also recently bought and sold shares of AGCO. Quarry LP raised its holdings in shares of AGCO by 278.0% in the second 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 acquired a new stake in shares of AGCO in the third quarter valued at approximately $26,000. Legacy Financial Group LLC acquired a new stake in shares of AGCO in the third quarter valued at approximately $27,000. Point72 Asset Management L.P. acquired a new stake in shares of AGCO in the second quarter valued at approximately $36,000. Finally, Allworth Financial LP raised its holdings in shares of AGCO by 72.3% in the fourth quarter. Allworth Financial LP now owns 286 shares of the industrial products company’s stock valued at $35,000 after purchasing an additional 120 shares during the last quarter. 78.80% of the stock is currently owned by institutional investors and hedge funds.

AGCO Trading Down 0.7 %

AGCO stock opened at $116.24 on Thursday. 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 fifty day moving average price of $115.43 and a two-hundred day moving average price of $117.12. AGCO Co. has a one year low of $105.77 and a one year high of $140.46. The stock has a market cap of $8.67 billion, a price-to-earnings ratio of 7.44, a price-to-earnings-growth ratio of 0.68 and a beta of 1.31.

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 analysts’ consensus estimates of $4.03 by ($0.25). AGCO had a return on equity of 26.96% and a net margin of 8.13%. 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 firm earned $4.47 earnings per share. The company’s revenue for the quarter was down 2.5% compared to the same quarter last year. Equities analysts anticipate that AGCO Co. will post 13.03 EPS for the current year.

Wall Street Analyst Weigh In

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

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.