Louisiana State Employees Retirement System Acquires Shares of 17,500 AGCO Co. (NYSE:AGCO)

Louisiana State Employees Retirement System acquired a new stake in AGCO Co. (NYSE:AGCO) during the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor acquired 17,500 shares of the industrial products company’s stock, valued at approximately $2,125,000.

Several other large investors have also recently added to or reduced their stakes in the stock. Raymond James Financial Services Advisors Inc. grew its position in AGCO by 21.4% in the first quarter. Raymond James Financial Services Advisors Inc. now owns 2,962 shares of the industrial products company’s stock worth $433,000 after acquiring an additional 522 shares in the last quarter. Cambridge Investment Research Advisors Inc. bought a new stake in AGCO in the first quarter worth approximately $306,000. Acadian Asset Management LLC grew its position in AGCO by 118.1% in the first quarter. Acadian Asset Management LLC now owns 1,758 shares of the industrial products company’s stock worth $256,000 after acquiring an additional 952 shares in the last quarter. Great West Life Assurance Co. Can grew its position in AGCO by 10.4% in the first quarter. Great West Life Assurance Co. Can now owns 36,347 shares of the industrial products company’s stock worth $5,469,000 after acquiring an additional 3,425 shares in the last quarter. Finally, Raymond James Trust N.A. grew its position in AGCO by 3.6% in the first quarter. Raymond James Trust N.A. now owns 3,743 shares of the industrial products company’s stock worth $547,000 after acquiring an additional 129 shares in the last quarter. Institutional investors and hedge funds own 78.80% of the company’s stock.

Wall Street Analyst Weigh In

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

AGCO Price Performance

Shares of AGCO stock opened at $116.24 on Thursday. The company has a debt-to-equity ratio of 0.30, a current ratio of 1.46 and a quick ratio of 0.67. AGCO Co. has a fifty-two week low of $105.77 and a fifty-two week high of $140.46. The firm has a fifty day moving average price of $115.43 and a two-hundred day moving average price of $117.12. The company has a market cap of $8.67 billion, a PE ratio of 7.44, a price-to-earnings-growth ratio of 0.68 and a beta of 1.31.

AGCO (NYSE:AGCO) last issued its quarterly earnings results on Tuesday, February 6th. The industrial products company reported $3.78 earnings per share for the quarter, missing analysts’ consensus estimates of $4.03 by ($0.25). AGCO had a net margin of 8.13% and a return on equity of 26.96%. The company had revenue of $3.80 billion during the quarter, compared to the consensus estimate of $4.03 billion. During the same period last year, the company earned $4.47 earnings per share. AGCO’s revenue for the quarter was down 2.5% on a year-over-year basis. Analysts expect that AGCO Co. will post 13.03 EPS for the current year.

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.