Raymond James Financial Inc. Acquires New Holdings in AGCO Co. (NYSE:AGCO)

Raymond James Financial Inc. bought a new position in AGCO Co. (NYSE:AGCO) during the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The firm bought 180,200 shares of the industrial products company’s stock, valued at approximately $16,845,000. Raymond James Financial Inc. owned 0.24% of AGCO as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds also recently bought and sold shares of the company. Bank of Nova Scotia acquired a new stake in AGCO during the 4th quarter worth $340,000. Invesco Ltd. increased its holdings in shares of AGCO by 68.7% in the fourth quarter. Invesco Ltd. now owns 2,360,301 shares of the industrial products company’s stock worth $220,641,000 after acquiring an additional 961,081 shares in the last quarter. Aster Capital Management DIFC Ltd raised its position in shares of AGCO by 777.9% during the fourth quarter. Aster Capital Management DIFC Ltd now owns 4,995 shares of the industrial products company’s stock worth $467,000 after purchasing an additional 4,426 shares during the period. Envestnet Asset Management Inc. lifted its holdings in shares of AGCO by 3.1% during the 4th quarter. Envestnet Asset Management Inc. now owns 91,658 shares of the industrial products company’s stock valued at $8,568,000 after purchasing an additional 2,765 shares in the last quarter. Finally, Thoroughbred Financial Services LLC grew its position in shares of AGCO by 6.9% in the 4th quarter. Thoroughbred Financial Services LLC now owns 2,416 shares of the industrial products company’s stock valued at $225,000 after purchasing an additional 156 shares during the period. 78.80% of the stock is currently owned by institutional investors and hedge funds.

AGCO Price Performance

NYSE:AGCO opened at $80.96 on Monday. The company has a current ratio of 1.34, a quick ratio of 0.63 and a debt-to-equity ratio of 0.60. The firm has a fifty day simple moving average of $92.13 and a 200 day simple moving average of $95.65. AGCO Co. has a 1-year low of $73.79 and a 1-year high of $121.49. The stock has a market capitalization of $6.04 billion, a PE ratio of -14.23, a P/E/G ratio of 1.80 and a beta of 1.16.

AGCO (NYSE:AGCO) last released its quarterly earnings data on Thursday, February 6th. The industrial products company reported $1.97 earnings per share for the quarter, missing the consensus estimate of $2.01 by ($0.04). AGCO had a positive return on equity of 13.40% and a negative net margin of 3.64%. On average, research analysts expect that AGCO Co. will post 4.2 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on AGCO. Citigroup raised shares of AGCO from a “neutral” rating to a “buy” rating and cut their price target for the company from $98.00 to $90.00 in a research note on Tuesday, April 8th. Baird R W lowered shares of AGCO from a “strong-buy” rating to a “hold” rating in a research note on Monday, March 3rd. Oppenheimer lifted their price target on AGCO from $108.00 to $109.00 and gave the company an “outperform” rating in a research note on Tuesday, January 28th. Truist Financial reduced their price objective on AGCO from $125.00 to $105.00 and set a “buy” rating for the company in a research report on Tuesday, April 8th. Finally, StockNews.com raised AGCO from a “sell” rating to a “hold” rating in a research report on Friday, April 11th. One analyst has rated the stock with a sell rating, eight have issued a hold rating and four have issued a buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $98.30.

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.