Groesbeck Investment Management Corp NJ Purchases 465 Shares of AGCO Co. (NYSE:AGCO)

Groesbeck Investment Management Corp NJ boosted its position in shares of AGCO Co. (NYSE:AGCO) by 24.9% in the 4th quarter, HoldingsChannel reports. The firm owned 2,331 shares of the industrial products company’s stock after buying an additional 465 shares during the period. Groesbeck Investment Management Corp NJ’s holdings in AGCO were worth $283,000 at the end of the most recent reporting period.

Several other institutional investors have also recently added to or reduced their stakes in the company. Federated Hermes Inc. grew its holdings in AGCO by 2.8% during the fourth quarter. Federated Hermes Inc. now owns 154,489 shares of the industrial products company’s stock valued at $18,757,000 after purchasing an additional 4,171 shares during the period. Daiwa Securities Group Inc. boosted its holdings in shares of AGCO by 7.0% in the fourth quarter. Daiwa Securities Group Inc. now owns 22,100 shares of the industrial products company’s stock valued at $2,683,000 after buying an additional 1,450 shares during the period. Rakuten Securities Inc. acquired a new position in shares of AGCO in the fourth quarter valued at approximately $26,000. Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in shares of AGCO by 9.4% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 22,215 shares of the industrial products company’s stock valued at $2,697,000 after buying an additional 1,905 shares during the period. Finally, Cookson Peirce & Co. Inc. boosted its holdings in shares of AGCO by 33.4% in the fourth quarter. Cookson Peirce & Co. Inc. now owns 6,062 shares of the industrial products company’s stock valued at $736,000 after buying an additional 1,517 shares during the period. 78.80% of the stock is owned by institutional investors.

AGCO Stock Performance

NYSE AGCO traded up $0.84 on Thursday, hitting $117.08. 221,934 shares of the stock were exchanged, compared to its average volume of 682,876. 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 business’s fifty day moving average is $115.43 and its 200 day moving average is $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 $8.74 billion, a PE ratio of 7.44, a P/E/G ratio of 0.67 and a beta of 1.31.

AGCO (NYSE:AGCO) last posted its quarterly 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). AGCO had a return on equity of 26.96% and a net margin of 8.13%. The firm 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 posted $4.47 earnings per share. The business’s revenue was down 2.5% compared to the same quarter last year. Research analysts anticipate that AGCO Co. will post 13.05 EPS for the current fiscal year.

Analysts Set New Price Targets

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

AGCO 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.