Kovitz Investment Group Partners LLC Sells 12,608 Shares of AGCO Co. (NYSE:AGCO)

Kovitz Investment Group Partners LLC lessened its stake in AGCO Co. (NYSE:AGCO - Free Report) by 49.8% during the 3rd quarter, according to the company in its most recent 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.

Several other large investors have also recently added to or reduced their stakes in AGCO. Brooklyn Investment Group acquired a new position in AGCO in the 3rd quarter valued at approximately $29,000. LRI Investments LLC increased its stake in shares of AGCO by 94.3% during the 2nd quarter. LRI Investments LLC now owns 340 shares of the industrial products company's stock worth $33,000 after purchasing an additional 165 shares during the last quarter. Blue Trust Inc. increased its stake in shares of AGCO by 102.4% during the 2nd quarter. Blue Trust Inc. now owns 344 shares of the industrial products company's stock worth $34,000 after purchasing an additional 174 shares during the last quarter. Venturi Wealth Management LLC increased its stake in shares of AGCO by 132.9% during the 3rd quarter. Venturi Wealth Management LLC now owns 368 shares of the industrial products company's stock worth $36,000 after purchasing an additional 210 shares during the last quarter. Finally, First Horizon Advisors Inc. increased its stake in shares of AGCO by 69.0% during the 2nd quarter. First Horizon Advisors Inc. now owns 409 shares of the industrial products company's stock worth $40,000 after purchasing an additional 167 shares during the last quarter. Institutional investors and hedge funds own 78.80% of the company's stock.

Analyst Ratings Changes

Several research analysts have recently commented on AGCO shares. Morgan Stanley started coverage on shares of AGCO in a research note on Tuesday, December 3rd. They set an "equal weight" rating and a $101.00 price target on the stock. Oppenheimer dropped their price target on shares of AGCO from $131.00 to $111.00 and set an "outperform" rating on the stock in a research note on Wednesday, November 6th. The Goldman Sachs Group dropped their price target on shares of AGCO from $112.00 to $99.00 and set a "neutral" rating on the stock in a research note on Wednesday, November 6th. Citigroup raised their target price on shares of AGCO from $95.00 to $100.00 and gave the company a "neutral" rating in a research note on Monday. Finally, StockNews.com lowered shares of AGCO from a "hold" rating to a "sell" rating in a research note on Wednesday. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of "Hold" and an average target price of $113.18.

AGCO Stock Performance

AGCO stock traded up $0.60 during mid-day trading on Wednesday, reaching $98.65. The company had a trading volume of 951,078 shares, compared to its average volume of 790,142. The company has a quick ratio of 0.72, a current ratio of 1.53 and a debt-to-equity ratio of 0.87. AGCO Co. has a 52 week low of $84.35 and a 52 week high of $130.26. The company has a 50 day moving average of $97.54 and a 200-day moving average of $96.47. The firm has a market cap of $7.36 billion, a price-to-earnings ratio of 43.65, a PEG ratio of 0.55 and a beta of 1.24.

AGCO (NYSE:AGCO - Get Free Report) last released its quarterly earnings data on Tuesday, November 5th. The industrial products company reported $0.68 EPS for the quarter, missing analysts' consensus estimates of $1.08 by ($0.40). The business had revenue of $2.60 billion for the quarter, compared to the consensus estimate of $2.90 billion. AGCO had a return on equity of 15.79% and a net margin of 1.35%. AGCO's revenue was down 24.8% on a year-over-year basis. During the same period in the previous year, the business posted $3.97 earnings per share. On average, sell-side analysts expect that AGCO Co. will post 7.36 EPS for the current fiscal year.

AGCO Dividend Announcement

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 dividend of $0.29 per share. This represents a $1.16 dividend on an annualized basis and a dividend yield of 1.18%. The ex-dividend date is Friday, November 15th. AGCO's payout ratio is 51.33%.

AGCO Company Profile

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.