Confirmed: Hagoromo does have an incarnation

[Rainbow Dash]

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"These two must be Hagoromo and Hamura's..."

This quote implies that Kaguya first thought that Naruto and Sasuke were the incarnations of Hagoromo and Hamura, but she later figures out that they aren't.

Kaguya's quote does confirm that there is someone who is Hagoromo's incarnation.

It should be obvious who Hagoromo's incarnation is.

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[LordDarui]

you just blew my mind.

 

[Grammar Nazi]

Hiruzen>>> Hagoramo.

 

[TheRapGuy]

He can use all the five elements with no Rinnegan alter all.

 

[Zanithe]

Dat Hiruzen.......

 

[BestGamer]

Its Kakashi =D

 

[Dark Link]

Keep dreaming and stay in your hype fantasies.

 

[TyrionUchiha]

Do you realize how OP you'd have to be to come even CLOSE to being called a reincarnation of either Hagoromo or Hamura?!

 

[Dribbles]

Naruto being Hagoromo's incarnation has been dead obvious ever since that one time Jiraiya mentioned the legend about it.

 

[-immortal-]

Its hiruzen guys

 

[Rohan]

Reads the first part and starts getting close to the computer screen.

Reads the last part, and immediately slams his head on the computer Desk.

 

[Goetia]

Please, Prime Hiruzen is non-existent.

 

[Mudballman]

Hardly confirmed. Extremely likely? Yes, but not confirmed

She knew she recognized the Chakra, maybe she just couldn't place who it was at first, she was dead after all.

 

[TenthHokagexRamen]

Hiruzen come save this manga

 

[TheRapGuy]

Naruto being Hagoromo's incarnation has been dead obvious ever since that one time Jiraiya mentioned the legend about it.

But the sage confirmed Naruto as being Ashura's.

 

[Rainbow Dash]

Hiruzen come save this manga

Don't worry m8, Hiruzen will save everyone from this nightmare.

 

[AzR]

well... guess what.. edo hokage still around.. stay tuned for more trolls from kishi.. haha

 

[Sir Blades]

I am going to be completely serious. I also thought it could be Hiruzen when Kaguya mentioned Hagoromo and Hamura.

 

[Lightningkakashi]

No shinobi that was alive during any point in this manga is reincarnated form of hagoramo, his spirit is detached from body....ya turds

 

[Behemoth55]

Ha ha...Kaguya thought at first that Sasuke and Naruto are her two sons because of the similar chakra(hermit chakra of the six path's) and techniques. But she could figure out that's not the case and they are Ashura+Indora after all.
Hagoromo can't have a transmigrant because he exists still as a form of floating chakra.