First Citizens Bank & Trust Co. bought a new position in shares of AMETEK, Inc. (NYSE:AME) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 5,723 shares of the technology company’s stock, valued at approximately $415,000.
Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Crossmark Global Holdings Inc. acquired a new position in shares of AMETEK during the third quarter valued at about $2,710,000. AMP Capital Investors Ltd raised its position in AMETEK by 24.4% in the third quarter. AMP Capital Investors Ltd now owns 153,984 shares of the technology company’s stock worth $10,171,000 after acquiring an additional 30,200 shares during the period. Janus Henderson Group PLC raised its position in AMETEK by 22,076.4% in the second quarter. Janus Henderson Group PLC now owns 6,403,670 shares of the technology company’s stock worth $387,870,000 after acquiring an additional 6,374,794 shares during the period. Schroder Investment Management Group raised its position in AMETEK by 289.1% in the third quarter. Schroder Investment Management Group now owns 81,971 shares of the technology company’s stock worth $5,373,000 after acquiring an additional 60,906 shares during the period. Finally, IFM Investors Pty Ltd bought a new stake in AMETEK in the third quarter worth about $509,000. Institutional investors and hedge funds own 85.22% of the company’s stock.
In related news, VP Thomas M. Montgomery sold 1,800 shares of the stock in a transaction dated Thursday, November 16th. The shares were sold at an average price of $70.35, for a total value of $126,630.00. Following the completion of the transaction, the vice president now directly owns 19,947 shares in the company, valued at approximately $1,403,271.45. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Elizebeth R. Varet sold 3,050 shares of the stock in a transaction dated Wednesday, November 29th. The stock was sold at an average price of $71.83, for a total transaction of $219,081.50. Following the completion of the transaction, the director now owns 117,930 shares of the company’s stock, valued at $8,470,911.90. The disclosure for this sale can be found here. Insiders sold a total of 30,815 shares of company stock valued at $2,209,220 over the last 90 days. Company insiders own 2.10% of the company’s stock.
Several analysts have commented on the stock. BMO Capital Markets lifted their price objective on shares of AMETEK from $88.00 to $90.00 and gave the stock an “outperform” rating in a research report on Friday. KeyCorp boosted their price target on shares of AMETEK from $82.00 to $86.00 and gave the company an “overweight” rating in a research report on Friday. Stifel Nicolaus reissued a “buy” rating and issued a $92.00 price target on shares of AMETEK in a research report on Thursday. Wells Fargo & Co set a $88.00 price target on shares of AMETEK and gave the company a “buy” rating in a research report on Thursday, January 18th. Finally, Zacks Investment Research raised shares of AMETEK from a “hold” rating to a “buy” rating and set a $82.00 target price on the stock in a report on Thursday, January 4th. Two analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. The company presently has an average rating of “Buy” and an average target price of $78.83.
Shares of AMETEK, Inc. (AME) traded down $0.66 during trading on Friday, hitting $77.25. 1,680,102 shares of the stock were exchanged, compared to its average volume of 1,104,837. AMETEK, Inc. has a 12 month low of $51.08 and a 12 month high of $78.51. The company has a quick ratio of 1.16, a current ratio of 1.70 and a debt-to-equity ratio of 0.46. The stock has a market cap of $17,853.79, a PE ratio of 26.28, a price-to-earnings-growth ratio of 2.14 and a beta of 1.32.
AMETEK (NYSE:AME) last posted its quarterly earnings results on Thursday, February 1st. The technology company reported $0.70 EPS for the quarter, beating the Zacks’ consensus estimate of $0.67 by $0.03. AMETEK had a net margin of 15.85% and a return on equity of 16.39%. The company had revenue of $1.14 billion during the quarter, compared to analyst estimates of $1.09 billion. During the same period in the prior year, the business posted $0.58 EPS. The firm’s revenue was up 17.5% compared to the same quarter last year. analysts predict that AMETEK, Inc. will post 3.04 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, March 29th. Shareholders of record on Friday, March 16th will be issued a $0.14 dividend. The ex-dividend date of this dividend is Thursday, March 15th. This is a positive change from AMETEK’s previous quarterly dividend of $0.09. This represents a $0.56 annualized dividend and a yield of 0.72%. AMETEK’s dividend payout ratio is 12.24%.
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AMETEK, Inc is a manufacturer of electronic instruments and electromechanical devices with operations in North America, Europe, Asia and South America. The Company operates through two segments: Electronic Instruments (EIG) and Electromechanical (EMG). EIG designs and manufactures instruments for the process, power and industrial and aerospace markets.
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