Kovitz Investment Group Partners LLC Purchases 2,375 Shares of AGCO Corporation $AGCO

Key Points

• Kovitz Investment Group Partners LLC increased its stake in AGCO Corporation by 21.3% during the first quarter, reaching a total of 13,506 shares valued at approximately $1.25 million.
• AGCO's stock currently has a consensus rating of "Hold" with an average target price of $109.63, as analysts from firms like JPMorgan and Goldman Sachs have recently adjusted their price objectives.
• The company initiated a $1 billion stock buyback program, indicating that the board believes the stock is undervalued, alongside declaring a quarterly dividend of $0.29 per share.

Kovitz Investment Group Partners LLC grew its position in shares of AGCO Corporation (NYSE:AGCO - Free Report) by 21.3% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 13,506 shares of the industrial products company's stock after buying an additional 2,375 shares during the quarter. Kovitz Investment Group Partners LLC's holdings in AGCO were worth $1,250,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors also recently modified their holdings of AGCO. Price T Rowe Associates Inc. MD boosted its holdings in shares of AGCO by 128.2% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 6,504,328 shares of the industrial products company's stock worth $608,026,000 after acquiring an additional 3,654,350 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its position in AGCO by 534.7% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 2,901,790 shares of the industrial products company's stock valued at $271,259,000 after purchasing an additional 2,444,615 shares during the last quarter. Lord Abbett & CO. LLC acquired a new position in AGCO in the fourth quarter worth $62,022,000. Bank of New York Mellon Corp grew its holdings in shares of AGCO by 62.4% during the first quarter. Bank of New York Mellon Corp now owns 1,135,672 shares of the industrial products company's stock worth $105,129,000 after purchasing an additional 436,237 shares during the last quarter. Finally, Millennium Management LLC bought a new stake in shares of AGCO during the fourth quarter worth $27,185,000. Institutional investors own 78.80% of the company's stock.

Insider Activity

In other news, SVP Luis Fernando Sartini Felli sold 10,000 shares of AGCO stock in a transaction dated Monday, August 11th. The stock was sold at an average price of $109.40, for a total transaction of $1,094,000.00. Following the transaction, the senior vice president owned 16,189 shares in the company, valued at $1,771,076.60. The trade was a 38.18% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 16.90% of the stock is owned by company insiders.

AGCO Trading Down 1.4%

Shares of AGCO stock traded down $1.6840 during trading on Monday, hitting $115.0660. 441,099 shares of the company were exchanged, compared to its average volume of 942,049. The company has a debt-to-equity ratio of 0.66, a current ratio of 1.48 and a quick ratio of 0.67. The firm has a market capitalization of $8.59 billion, a P/E ratio of 85.87, a price-to-earnings-growth ratio of 1.84 and a beta of 1.21. The firm's fifty day moving average price is $109.22 and its 200 day moving average price is $99.75. AGCO Corporation has a 1-year low of $73.79 and a 1-year high of $121.16.

AGCO (NYSE:AGCO - Get Free Report) last issued its quarterly earnings data on Thursday, July 31st. The industrial products company reported $1.35 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.06 by $0.29. AGCO had a net margin of 0.98% and a return on equity of 8.27%. The firm had revenue of $2.64 billion during the quarter, compared to analysts' expectations of $2.52 billion. During the same quarter in the previous year, the company earned $2.53 earnings per share. The business's revenue for the quarter was down 18.8% on a year-over-year basis. AGCO has set its FY 2025 guidance at 4.750-5.00 EPS. As a group, sell-side analysts expect that AGCO Corporation will post 4.2 earnings per share for the current fiscal year.

AGCO announced that its Board of Directors has approved a share repurchase plan on Wednesday, July 9th that permits the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization permits the industrial products company to repurchase up to 12.2% of its stock through open market purchases. Stock repurchase plans are typically an indication that the company's board of directors believes its stock is undervalued.

AGCO Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, September 15th. Shareholders of record on Friday, August 15th will be issued a $0.29 dividend. This represents a $1.16 annualized dividend and a dividend yield of 1.0%. The ex-dividend date is Friday, August 15th. AGCO's dividend payout ratio is 86.57%.

Analyst Ratings Changes

A number of research analysts recently issued reports on the company. Citigroup reaffirmed a "neutral" rating and issued a $110.00 price target on shares of AGCO in a report on Friday, May 30th. UBS Group restated a "neutral" rating and issued a $119.00 price objective (up previously from $100.00) on shares of AGCO in a research report on Friday, August 8th. Morgan Stanley upped their target price on shares of AGCO from $75.00 to $84.00 and gave the stock an "underweight" rating in a research report on Monday, May 12th. JPMorgan Chase & Co. increased their price target on shares of AGCO from $130.00 to $137.00 and gave the company an "overweight" rating in a research note on Friday, August 1st. Finally, Zacks Research upgraded shares of AGCO from a "hold" rating to a "strong-buy" rating in a research report on Monday, August 18th. One analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating, five have assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, AGCO currently has an average rating of "Hold" and a consensus target price of $109.63.

About AGCO

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.