First Trust Advisors LP Buys 148,896 Shares of AGCO Co. (NYSE:AGCO)

First Trust Advisors LP grew its stake in shares of AGCO Co. (NYSE:AGCO) by 15.4% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 1,118,393 shares of the industrial products company’s stock after acquiring an additional 148,896 shares during the period. First Trust Advisors LP owned about 1.50% of AGCO worth $104,547,000 at the end of the most recent reporting period.

Several other large investors also recently modified their holdings of AGCO. Barclays PLC raised its stake in shares of AGCO by 386.8% during the 3rd quarter. Barclays PLC now owns 249,209 shares of the industrial products company’s stock valued at $24,389,000 after purchasing an additional 198,014 shares during the period. Wilmington Savings Fund Society FSB bought a new stake in shares of AGCO during the third quarter valued at about $52,000. Principal Financial Group Inc. lifted its holdings in shares of AGCO by 28.2% in the third quarter. Principal Financial Group Inc. now owns 684,249 shares of the industrial products company’s stock worth $66,959,000 after buying an additional 150,656 shares in the last quarter. GAMMA Investing LLC boosted its position in shares of AGCO by 174.7% in the fourth quarter. GAMMA Investing LLC now owns 544 shares of the industrial products company’s stock valued at $51,000 after acquiring an additional 346 shares during the period. Finally, Everence Capital Management Inc. purchased a new position in AGCO during the fourth quarter valued at approximately $236,000. Hedge funds and other institutional investors own 78.80% of the company’s stock.

AGCO Stock Up 0.8 %

Shares of AGCO stock opened at $80.96 on Monday. The company’s fifty day simple moving average is $92.13 and its two-hundred day simple moving average is $95.65. AGCO Co. has a 12-month low of $73.79 and a 12-month high of $121.49. 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 company has a market cap of $6.04 billion, a P/E ratio of -14.23, a PEG ratio of 1.80 and a beta of 1.16.

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

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on AGCO shares. UBS Group reduced their price target on shares of AGCO from $100.00 to $88.00 and set a “neutral” rating for the company in a research report on Monday, April 7th. Robert W. Baird lowered AGCO from an “outperform” rating to a “neutral” rating and decreased their target price for the stock from $116.00 to $100.00 in a research note on Monday, March 3rd. Truist Financial dropped their price target on AGCO from $125.00 to $105.00 and set a “buy” rating for the company in a research report on Tuesday, April 8th. Citigroup upgraded shares of AGCO from a “neutral” rating to a “buy” rating and decreased their price objective for the stock from $98.00 to $90.00 in a research report on Tuesday, April 8th. Finally, Baird R W lowered shares of AGCO from a “strong-buy” rating to a “hold” rating in a research report on Monday, March 3rd. One analyst has rated the stock with a sell rating, eight have issued a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $98.30.

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.