Burney Co. decreased its position in AMETEK, Inc. (NYSE:AME) by 9.1% in the 2nd quarter, Holdings Channel reports. The firm owned 17,062 shares of the technology company’s stock after selling 1,707 shares during the period. Burney Co.’s holdings in AMETEK were worth $1,231,000 as of its most recent filing with the Securities and Exchange Commission.
Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Adviser Investments LLC bought a new position in shares of AMETEK in the first quarter valued at approximately $103,000. Summit Trail Advisors LLC boosted its holdings in shares of AMETEK by 24,362.4% in the first quarter. Summit Trail Advisors LLC now owns 105,922 shares of the technology company’s stock valued at $106,000 after acquiring an additional 105,489 shares in the last quarter. Three Peaks Capital Management LLC bought a new position in shares of AMETEK in the first quarter valued at approximately $111,000. Signet Financial Management LLC bought a new position in shares of AMETEK in the second quarter valued at approximately $124,000. Finally, Rampart Investment Management Company LLC bought a new position in shares of AMETEK in the first quarter valued at approximately $178,000. Hedge funds and other institutional investors own 85.24% of the company’s stock.
In related news, Director Elizebeth R. Varet sold 3,000 shares of the stock in a transaction that occurred on Wednesday, August 29th. The shares were sold at an average price of $77.26, for a total transaction of $231,780.00. Following the completion of the sale, the director now directly owns 104,810 shares of the company’s stock, valued at $8,097,620.60. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Elizebeth R. Varet sold 2,000 shares of the stock in a transaction that occurred on Friday, June 8th. The shares were sold at an average price of $75.56, for a total transaction of $151,120.00. Following the sale, the director now directly owns 113,810 shares of the company’s stock, valued at $8,599,483.60. The disclosure for this sale can be found here. Over the last three months, insiders have sold 18,000 shares of company stock valued at $1,368,260. Company insiders own 2.10% of the company’s stock.
Several research analysts have recently issued reports on the stock. Cowen reiterated a “buy” rating and issued a $85.00 price objective on shares of AMETEK in a report on Sunday, August 12th. ValuEngine upgraded shares of AMETEK from a “hold” rating to a “buy” rating in a report on Thursday, August 2nd. Oppenheimer increased their price objective on shares of AMETEK from $85.00 to $90.00 and gave the company an “outperform” rating in a report on Wednesday, August 1st. Bank of America increased their price objective on shares of AMETEK from $87.00 to $91.00 and gave the company a “buy” rating in a report on Wednesday, August 1st. Finally, BMO Capital Markets increased their price objective on shares of AMETEK from $92.00 to $93.00 and gave the company an “outperform” rating in a report on Wednesday, August 1st. Two investment analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. The company has a consensus rating of “Buy” and a consensus target price of $86.08.
AME stock opened at $78.00 on Thursday. AMETEK, Inc. has a 12 month low of $62.82 and a 12 month high of $79.32. The company has a market cap of $17.85 billion, a P/E ratio of 25.91, a price-to-earnings-growth ratio of 2.19 and a beta of 1.21. The company has a quick ratio of 1.19, a current ratio of 1.71 and a debt-to-equity ratio of 0.42.
AMETEK (NYSE:AME) last released its earnings results on Tuesday, July 31st. The technology company reported $0.83 EPS for the quarter, beating the consensus estimate of $0.78 by $0.05. AMETEK had a net margin of 16.65% and a return on equity of 16.94%. The business had revenue of $1.21 billion during the quarter, compared to analyst estimates of $1.19 billion. During the same period in the prior year, the business earned $0.65 earnings per share. The business’s quarterly revenue was up 13.6% on a year-over-year basis. equities analysts predict that AMETEK, Inc. will post 3.21 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, September 28th. Investors of record on Friday, September 14th will be paid a dividend of $0.14 per share. This represents a $0.56 annualized dividend and a yield of 0.72%. The ex-dividend date is Thursday, September 13th. AMETEK’s dividend payout ratio is presently 21.46%.
AMETEK Company Profile
AMETEK, Inc manufactures and sells electronic instruments and electromechanical devices worldwide. Its Electronic Instruments Group segment offers advanced instruments for the process, power and industrial, and aerospace markets; process and analytical instruments for the oil, gas, petrochemical, pharmaceutical, semiconductor, automation, and food and beverage markets; and instruments for the laboratory equipment, ultraprecision manufacturing, medical, and test and measurement markets.
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