AGCO Corporation AGCO recently announced an investment in a leading precision livestock farming, OPTIfarm, to improve farmers’ animal welfare.OPTIfarm utilizes advanced software and data analytics operated by an expert team to help farmers create the best environment for their livestock. The system improves farm productivity and helps producers care for their animals by meeting key operational livestock targets, like improved feed conversion ratio, weight gain and uniformity. This technology monitors the natural behavior of animals and recommends the best conditions for livestock health, welfare and safety.The latest investment supports AGCO Corporation’s focus on delivering industry-leading smart farming solutions to improve farmers’ net farm income and animal welfare.Last September, AGCO Corporation joined forces with Faromatics to deliver smart farming solutions for livestock producers. Faromatics, the world’s first roof-suspended robot, monitors broiler chickens and helps farmers enhance their animal welfare and farm productivity. The AI-enabled robot uses a set of sensors to measure vital parameters like thermal sensation, air quality, light and sound while detecting risks related to animal health and farm equipment.AGCO continues to invest in products, premium technology and smart farming solutions to improve distribution and enhance digital capabilities to drive margins and strengthen product offerings. The company is investing in Fuse OEM Precision Agriculture solutions as farmers are looking to capture increased yields and cover the expensive input costs of fertilizer and diesel. These improvements will support the company’s investments in precision agriculture and digital initiatives. AGCO is poised to benefit from the Precision Planting business, growth scopes from a new product pipeline and its retrofit approach.Elevated grain prices continue to support healthy firm income, driving demand for agricultural equipment. These encourage farmers to upgrade and replace their aging fleets of large equipment, which will drive AGCO’s top line.AGCO expects current-year sales and earnings growth to benefit from robust end-market demand, positive industry demand trends and strong farm prospects. Net sales for the ongoing year are expected in between $12.5 billion and $12.7 billion. Gross and operating margins are anticipated to be higher than 2021 levels, owing to higher sales and production volumes, favorable pricing and improved factory productivity. Management projects earnings per share for the current year to be between $11.70 and $11.90.Price PerformanceAGCO’s shares have lost 12.1% in the past year compared with the industry’s decline of 4.8%.Image Source: Zacks Investment ResearchZacks Rank and Stocks to ConsiderAGCO currently carries a Zacks Rank #3 (Hold).Some better-ranked stocks in the Industrial Products sector are Graphic Packaging Holding Company GPK, Myers Industries MYE and Packaging Corporation of America PKG. All of these stocks sport a Zacks Rank #1 (Strong Buy) at present. You can see the complete list of today’s Zacks #1 Rank stocks here.Graphic Packaging has an estimated earnings growth rate of 86.8% for the current year. In the past 60 days, the Zacks Consensus Estimate for current-year earnings has been revised upward by 7.6%.Graphic Packaging pulled off a trailing four-quarter earnings surprise of 7.2%, on average. The company’s shares have appreciated 8% in the past six months.Myers Industries has an expected earnings growth rate of 67% for 2022. The Zacks Consensus Estimate for the current year’s earnings has moved up 27% in the past 60 days.MYE has a trailing four-quarter earnings surprise of 20.1%, on average. Myers Industries’ shares have risen 25% over the last six months.Packaging Corporation has an expected earnings growth rate of 16.2% for 2022. The Zacks Consensus Estimate for the current year’s earnings rose 4.2% in the past 60 days.PKG has a trailing four-quarter earnings surprise of 19.6%, on average. Packaging Corporation’s shares have risen 16% in the past six months. Free: Top Stocks for the $30 Trillion Metaverse Boom The metaverse is a quantum leap for the internet as we currently know it - and it will make some investors rich. Just like the internet, the metaverse is expected to transform how we live, work and play. Zacks has put together a new special report to help readers like you target big profits. The Metaverse - What is it? And How to Profit with These 5 Pioneering Stocks reveals specific stocks set to skyrocket as this emerging technology develops and expands.Download Zacks’ Metaverse Report now >>Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report AGCO Corporation (AGCO): Free Stock Analysis Report Packaging Corporation of America (PKG): Free Stock Analysis Report Graphic Packaging Holding Company (GPK): Free Stock Analysis Report Myers Industries, Inc. (MYE): Free Stock Analysis Report To read this article on Zacks.com click here. Zacks Investment Research