Wedge Capital Management L L P NC Buys 684 Shares of AGCO Co. (NYSE:AGCO)

Wedge Capital Management L L P NC lifted its stake in AGCO Co. (NYSE:AGCO) by 0.7% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 99,375 shares of the industrial products company’s stock after purchasing an additional 684 shares during the quarter. Wedge Capital Management L L P NC owned about 0.13% of AGCO worth $12,065,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also recently made changes to their positions in the stock. FinTrust Capital Advisors LLC acquired a new stake in shares of AGCO in the third quarter valued at about $26,000. Rakuten Securities Inc. acquired a new stake in AGCO in the fourth quarter valued at $26,000. Legacy Financial Group LLC bought a new position in shares of AGCO during the third quarter worth about $27,000. BluePath Capital Management LLC purchased a new stake in AGCO during the third quarter valued at about $35,000. Finally, C M Bidwell & Associates Ltd. acquired a new stake in shares of AGCO in the third quarter worth $35,000. 78.80% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of brokerages have commented on AGCO. JPMorgan Chase & Co. upped 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. Oppenheimer increased their target price on AGCO from $153.00 to $154.00 and gave the stock an “outperform” rating in a research report on Tuesday, April 16th. StockNews.com downgraded AGCO from a “buy” rating to a “hold” rating in a research note on Friday, February 9th. Finally, Truist Financial started coverage on AGCO in a research note on Thursday, March 14th. They issued a “buy” rating and a $142.00 price target for the company. One analyst has rated the stock with a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $150.50.

AGCO Stock Performance

AGCO traded up $1.43 during trading on Tuesday, hitting $120.60. 50,932 shares of the stock were exchanged, compared to its average volume of 681,574. The firm has a market capitalization of $9.00 billion, a P/E ratio of 7.63, 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. The stock has a fifty day moving average price of $115.49 and a two-hundred day moving average price of $117.15. AGCO Co. has a 1-year low of $105.77 and a 1-year high of $140.46.

AGCO (NYSE:AGCO) last announced 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). The company had revenue of $3.80 billion during the quarter, compared to the consensus estimate of $4.03 billion. AGCO had a return on equity of 26.96% and a net margin of 8.13%. The company’s revenue for the quarter was down 2.5% on a year-over-year basis. During the same period last year, the business posted $4.47 EPS. As a group, sell-side analysts predict that AGCO Co. will post 13.07 earnings per share for the current 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.