Kovitz Investment Group Partners LLC cut its stake in shares of AGCO Co. (NYSE:AGCO - Free Report) by 49.8% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 12,732 shares of the industrial products company's stock after selling 12,608 shares during the quarter. Kovitz Investment Group Partners LLC's holdings in AGCO were worth $1,205,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds have also recently modified their holdings of the company. Forum Financial Management LP grew its holdings in AGCO by 5.5% during the 2nd quarter. Forum Financial Management LP now owns 2,108 shares of the industrial products company's stock worth $206,000 after acquiring an additional 109 shares in the last quarter. Capital Insight Partners LLC boosted its stake in shares of AGCO by 2.6% during the second quarter. Capital Insight Partners LLC now owns 4,401 shares of the industrial products company's stock valued at $431,000 after purchasing an additional 110 shares in the last quarter. First Horizon Advisors Inc. increased its holdings in AGCO by 28.6% during the third quarter. First Horizon Advisors Inc. now owns 526 shares of the industrial products company's stock valued at $51,000 after buying an additional 117 shares during the period. Oppenheimer & Co. Inc. raised its stake in AGCO by 0.7% in the third quarter. Oppenheimer & Co. Inc. now owns 17,022 shares of the industrial products company's stock worth $1,666,000 after buying an additional 126 shares in the last quarter. Finally, Farther Finance Advisors LLC lifted its holdings in AGCO by 50.2% during the third quarter. Farther Finance Advisors LLC now owns 416 shares of the industrial products company's stock worth $41,000 after buying an additional 139 shares during the period. Institutional investors own 78.80% of the company's stock.
Several research firms have recently commented on AGCO. Citigroup boosted their price target on AGCO from $95.00 to $100.00 and gave the stock a "neutral" rating in a research report on Monday. Truist Financial increased their price target on shares of AGCO from $118.00 to $127.00 and gave the company a "buy" rating in a research report on Wednesday, October 9th. The Goldman Sachs Group cut their price objective on shares of AGCO from $112.00 to $99.00 and set a "neutral" rating on the stock in a research report on Wednesday, November 6th. StockNews.com cut shares of AGCO from a "hold" rating to a "sell" rating in a research report on Wednesday. Finally, Oppenheimer cut their price target on shares of AGCO from $131.00 to $111.00 and set an "outperform" rating on the stock in a report on Wednesday, November 6th. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and five have assigned a buy rating to the company's stock. According to MarketBeat, the company has an average rating of "Hold" and an average price target of $113.18.
View Our Latest Analysis on AGCO
Shares of AGCO opened at $98.10 on Wednesday. The firm has a market capitalization of $7.32 billion, a PE ratio of 43.41, a price-to-earnings-growth ratio of 0.55 and a beta of 1.24. The company has a debt-to-equity ratio of 0.87, a current ratio of 1.53 and a quick ratio of 0.72. The company's fifty day moving average price is $97.54 and its 200-day moving average price is $96.47. AGCO Co. has a 1-year low of $84.35 and a 1-year high of $130.26.
AGCO (NYSE:AGCO - Get Free Report) last announced its quarterly earnings data on Tuesday, November 5th. The industrial products company reported $0.68 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.08 by ($0.40). The firm had revenue of $2.60 billion during the quarter, compared to analysts' expectations of $2.90 billion. AGCO had a return on equity of 15.79% and a net margin of 1.35%. The company's revenue for the quarter was down 24.8% compared to the same quarter last year. During the same quarter in the previous year, the business earned $3.97 earnings per share. On average, equities research analysts predict that AGCO Co. will post 7.36 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Friday, November 15th will be issued a $0.29 dividend. This represents a $1.16 annualized dividend and a dividend yield of 1.18%. The ex-dividend date is Friday, November 15th. AGCO's dividend payout ratio (DPR) is currently 51.33%.
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.
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