South Dakota Investment Council Buys New Shares in AGCO Co. (NYSE:AGCO)

South Dakota Investment Council purchased a new position in AGCO Co. (NYSE:AGCO) during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund purchased 12,979 shares of the industrial products company’s stock, valued at approximately $1,576,000.

Several other hedge funds have also bought and sold shares of AGCO. AE Wealth Management LLC lifted its stake in AGCO by 36.4% in the 3rd quarter. AE Wealth Management LLC now owns 7,860 shares of the industrial products company’s stock worth $930,000 after purchasing an additional 2,097 shares in the last quarter. SG Americas Securities LLC purchased a new stake in AGCO in the 3rd quarter worth $1,866,000. Occidental Asset Management LLC lifted its stake in AGCO by 19.4% in the 3rd quarter. Occidental Asset Management LLC now owns 12,770 shares of the industrial products company’s stock worth $1,510,000 after purchasing an additional 2,075 shares in the last quarter. Measured Wealth Private Client Group LLC raised its position in shares of AGCO by 67.0% during the 3rd quarter. Measured Wealth Private Client Group LLC now owns 2,760 shares of the industrial products company’s stock valued at $326,000 after buying an additional 1,107 shares in the last quarter. Finally, Oak Thistle LLC purchased a new stake in shares of AGCO during the 3rd quarter valued at about $1,014,000. Hedge funds and other institutional investors own 78.80% of the company’s stock.

AGCO Stock Performance

Shares of NYSE:AGCO opened at $118.68 on Thursday. The company has a market capitalization of $8.86 billion, a price-to-earnings ratio of 7.59, a PEG ratio of 0.67 and a beta of 1.31. AGCO Co. has a 12 month low of $105.77 and a 12 month high of $140.46. The firm’s 50-day moving average is $115.74 and its 200 day moving average is $117.19. The company has a current ratio of 1.46, a quick ratio of 0.67 and a debt-to-equity ratio of 0.30.

AGCO (NYSE:AGCO) last issued its earnings results 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). 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%. AGCO’s revenue was down 2.5% on a year-over-year basis. During the same quarter in the prior year, the company earned $4.47 earnings per share. Research analysts predict that AGCO Co. will post 13.06 EPS for the current year.

Analysts Set New Price Targets

Several analysts have recently issued reports on the stock. Truist Financial assumed coverage on shares of AGCO in a research report on Thursday, March 14th. They set a “buy” rating and a $142.00 target price on the stock. JPMorgan Chase & Co. upped their target price on shares of AGCO from $145.00 to $150.00 and gave the company an “overweight” rating in a research report on Friday, April 12th. Oppenheimer upped their target price on shares of AGCO from $153.00 to $154.00 and gave the company an “outperform” rating in a research report on Tuesday, April 16th. Finally, StockNews.com cut 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 company’s stock. According to MarketBeat, AGCO presently has a consensus rating of “Moderate Buy” and a consensus price target of $150.50.

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.