Strategy Asset Managers LLC boosted its position in shares of AMETEK, Inc. (NYSE:AME) by 81.5% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 41,079 shares of the technology company’s stock after acquiring an additional 18,449 shares during the period. Strategy Asset Managers LLC’s holdings in AMETEK were worth $3,408,000 as of its most recent SEC filing.
A number of other large investors have also recently modified their holdings of AME. JPMorgan Chase & Co. boosted its position in shares of AMETEK by 0.6% during the third quarter. JPMorgan Chase & Co. now owns 3,290,794 shares of the technology company’s stock worth $260,369,000 after purchasing an additional 19,367 shares in the last quarter. Legal & General Group Plc boosted its position in shares of AMETEK by 1.9% during the third quarter. Legal & General Group Plc now owns 1,091,141 shares of the technology company’s stock worth $86,337,000 after purchasing an additional 20,424 shares in the last quarter. Vanguard Group Inc boosted its position in shares of AMETEK by 0.6% during the third quarter. Vanguard Group Inc now owns 23,495,237 shares of the technology company’s stock worth $1,858,943,000 after purchasing an additional 137,102 shares in the last quarter. IFP Advisors Inc boosted its position in shares of AMETEK by 76.4% during the fourth quarter. IFP Advisors Inc now owns 441 shares of the technology company’s stock worth $29,000 after purchasing an additional 191 shares in the last quarter. Finally, Assenagon Asset Management S.A. boosted its position in shares of AMETEK by 15.4% during the fourth quarter. Assenagon Asset Management S.A. now owns 323,264 shares of the technology company’s stock worth $21,885,000 after purchasing an additional 43,117 shares in the last quarter. 85.72% of the stock is owned by institutional investors.
AME traded up $0.96 during trading on Tuesday, hitting $86.12. The company had a trading volume of 11,629 shares, compared to its average volume of 1,185,669. The stock has a market capitalization of $19.57 billion, a P/E ratio of 26.18, a P/E/G ratio of 2.19 and a beta of 1.21. AMETEK, Inc. has a one year low of $63.14 and a one year high of $88.76. The company has a current ratio of 1.91, a quick ratio of 1.27 and a debt-to-equity ratio of 0.53.
AMETEK (NYSE:AME) last posted its quarterly earnings data on Wednesday, May 1st. The technology company reported $1.00 EPS for the quarter, beating the consensus estimate of $0.97 by $0.03. The business had revenue of $1.29 billion for the quarter, compared to analysts’ expectations of $1.28 billion. AMETEK had a net margin of 16.14% and a return on equity of 18.56%. The firm’s revenue was up 9.8% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.79 EPS. On average, equities research analysts predict that AMETEK, Inc. will post 4.07 EPS for the current fiscal year.
AMETEK announced that its Board of Directors has initiated a stock repurchase plan on Wednesday, February 13th that allows the company to repurchase $500.00 million in outstanding shares. This repurchase authorization allows the technology company to repurchase up to 2.8% of its stock through open market purchases. Stock repurchase plans are often a sign that the company’s management believes its shares are undervalued.
The firm also recently declared a quarterly dividend, which will be paid on Friday, June 28th. Shareholders of record on Friday, June 14th will be paid a $0.14 dividend. The ex-dividend date is Thursday, June 13th. This represents a $0.56 annualized dividend and a yield of 0.65%. AMETEK’s payout ratio is currently 17.02%.
In other AMETEK news, Director Dennis K. Williams sold 4,725 shares of AMETEK stock in a transaction on Wednesday, March 6th. The shares were sold at an average price of $79.41, for a total value of $375,212.25. Following the sale, the director now directly owns 31,192 shares in the company, valued at approximately $2,476,956.72. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Elizebeth R. Varet sold 3,740 shares of AMETEK stock in a transaction on Wednesday, February 20th. The shares were sold at an average price of $79.77, for a total transaction of $298,339.80. Following the completion of the sale, the director now owns 108,550 shares in the company, valued at $8,659,033.50. The disclosure for this sale can be found here. Insiders sold a total of 61,436 shares of company stock worth $4,948,050 over the last quarter. Company insiders own 0.80% of the company’s stock.
A number of equities analysts have recently weighed in on the stock. Berenberg Bank assumed coverage on shares of AMETEK in a research report on Wednesday, May 15th. They set a “buy” rating and a $100.00 price target on the stock. Zacks Investment Research raised shares of AMETEK from a “hold” rating to a “buy” rating and set a $84.00 price target on the stock in a research report on Friday, February 8th. BMO Capital Markets lifted their price target on shares of AMETEK from $99.00 to $101.00 and gave the stock an “outperform” rating in a research report on Thursday, May 2nd. DA Davidson lifted their price target on shares of AMETEK to $92.00 and gave the stock a “buy” rating in a research report on Friday, March 15th. Finally, Vertical Research reissued a “buy” rating on shares of AMETEK in a research report on Friday, May 3rd. Fifteen research analysts have rated the stock with a buy rating, The company currently has an average rating of “Buy” and an average target price of $91.00.
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AMETEK, Inc manufactures and sells electronic instruments and electromechanical devices worldwide. The company's Electronic Instruments segment offers advanced instruments for the process, aerospace, power, and industrial markets; process control instruments for the oil and gas, petrochemical, pharmaceutical, semiconductor, automation, and food and beverage industries; and instruments to the laboratory equipment, ultra-precision manufacturing, medical, and test and measurement markets.
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