AGCO Corporation (NYSE:AGCO) has entered into a development partnership with AgIntegrated. This partnership will aid the company deliver agricultural information management systems services to its customers, enabling them to connect more easily with their agronomy service providers, create seamless data connectivity, and digitize the farm.
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Agricultural technology company, AgIntegrated has experience in the precision agriculture space for around 15 years. The company leverages and enables current technologies. It empowers people who utilize the technologies on a daily basis to advance precision agriculture adoption, consequently improving yield.
The partnership with AgIntegrated will bring multiple new Advanced Programming Interface (“API”) connections to AGCO’s customers, providing more choices with their wireless data transfer needs. Rather than needing multiple communication paths between technologies, AgIntegrated’s Onsite QC Pro data hub provides a neutral platform to streamline agronomic data transfer. This will ensure easier data flow and make decision-making easier for AGCO customers.
AGCO customers can connect to the Onsite QC Pro data hub using TaskDoc Pro, VarioDoc Pro, and Go-Task wireless data transfer products, depending on equipment brand and model. These wireless data transfer pipelines offer customers a seamless integration from their machines to multiple Farm Management Information Systems (“FMIS”). This partnership gives AGCO’s customer access to any FMIS, either through a direct connection into AgIntegrated OnSite ecosystem, or by direct download and upload.
Integrating Technology and Agriculture
AGCO’s partnership with AgIntegrated is a function of AGCO’s Fuse open approach to precision agriculture and transparent partnering model. Efforts to add technology to agriculture is the need of the hour. Agricultural companies like AGCO and Deere & Company (NYSE:DE) are now focused on precision agriculture to help American farmers become more efficient and productive in a bid to remain competitive globally.
In sync with this, AGCO had acquired Precision Planting from The Climate Corporation in September 2017. Precision planting plays an essential role in growth and adoption of innovative precision agricultural practices that help farmers enhance productivity. Likewise, Deere acquired Sunnyvale, CA-based Blue River Technology, a pioneer in bringing machine learning to agricultural spraying equipment. Blue River’s technology has aided precision agriculture by shifting farm-management decisions from the field level to the plant level.
Over the past year, AGCO has significantly underperformed the industry with respect to price performance. The stock has gained 1.4%, while the industry recorded growth of 22.7%.
AGCO currently carries a Zacks Rank #3 (Hold).
Better-ranked stocks in the same sector include Axon Enterprise, Inc (NASDAQ:AAXN) and Ashtead Group (LON:AHT) PLC (OTC:ASHTY) . Both the stocks sport a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
Axon Enterprise has a long-term earnings growth rate of 25%. The stock has appreciated 166% in a year’s time.
Ashtead has a long-term earnings growth rate of 15%. The company’s shares have been up 52% in the past year.
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Deere & Company (DE): Free Stock Analysis Report
AGCO Corporation (AGCO): Free Stock Analysis Report
Ashtead Group PLC (ASHTY): Free Stock Analysis Report
Axon Enterprise, Inc (AAXN): Free Stock Analysis Report
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