Franklin Resources Inc. cut its stake in shares of AMETEK, Inc. (NYSE:AME) by 5.1% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 1,167,570 shares of the technology company’s stock after selling 62,158 shares during the quarter. Franklin Resources Inc. owned 0.51% of AMETEK worth $84,614,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors also recently modified their holdings of the stock. American Century Companies Inc. lifted its holdings in AMETEK by 42.5% in the fourth quarter. American Century Companies Inc. now owns 4,067,798 shares of the technology company’s stock valued at $294,793,000 after acquiring an additional 1,214,153 shares during the period. BlackRock Inc. raised its stake in shares of AMETEK by 6.2% during the 4th quarter. BlackRock Inc. now owns 15,074,188 shares of the technology company’s stock worth $1,092,426,000 after buying an additional 886,625 shares during the last quarter. Allianz Asset Management GmbH grew its holdings in AMETEK by 28.2% in the 4th quarter. Allianz Asset Management GmbH now owns 3,095,683 shares of the technology company’s stock valued at $224,343,000 after buying an additional 681,646 shares during the period. Strs Ohio grew its holdings in AMETEK by 447.0% in the 4th quarter. Strs Ohio now owns 392,395 shares of the technology company’s stock valued at $28,436,000 after buying an additional 320,660 shares during the period. Finally, Santori & Peters Inc. purchased a new stake in AMETEK in the 4th quarter valued at about $19,377,000. 85.82% of the stock is owned by hedge funds and other institutional investors.
In related news, Director Elizebeth R. Varet sold 6,295 shares of the company’s stock in a transaction on Wednesday, February 7th. The stock was sold at an average price of $74.72, for a total transaction of $470,362.40. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider John Wesley Hardin sold 25,965 shares of the stock in a transaction on Monday, February 26th. The stock was sold at an average price of $78.50, for a total value of $2,038,252.50. Following the completion of the transaction, the insider now directly owns 85,663 shares of the company’s stock, valued at approximately $6,724,545.50. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 77,604 shares of company stock valued at $5,976,638. 2.10% of the stock is owned by company insiders.
Several equities analysts have recently weighed in on the company. ValuEngine raised AMETEK from a “hold” rating to a “buy” rating in a research note on Thursday, March 1st. BMO Capital Markets lifted their price objective on AMETEK from $88.00 to $90.00 and gave the company an “outperform” rating in a research note on Friday, February 2nd. Morgan Stanley lifted their price objective on AMETEK from $67.00 to $76.00 and gave the company an “overweight” rating in a research note on Wednesday, February 7th. Zacks Investment Research raised AMETEK from a “hold” rating to a “buy” rating and set a $87.00 price target on the stock in a research report on Monday, February 5th. Finally, Wells Fargo set a $88.00 price target on AMETEK and gave the stock a “buy” rating in a research report on Thursday, January 18th. One research analyst has rated the stock with a hold rating and twelve have given a buy rating to the company. The company presently has a consensus rating of “Buy” and a consensus target price of $81.45.
Shares of NYSE AME traded down $2.87 during trading on Friday, reaching $73.54. The stock had a trading volume of 1,201,391 shares, compared to its average volume of 904,148. AMETEK, Inc. has a one year low of $53.19 and a one year high of $79.32. The company has a current ratio of 1.70, a quick ratio of 1.22 and a debt-to-equity ratio of 0.46. The company has a market capitalization of $17,676.28, a price-to-earnings ratio of 28.18, a price-to-earnings-growth ratio of 2.18 and a beta of 1.24.
AMETEK (NYSE:AME) last issued its quarterly earnings results on Thursday, February 1st. The technology company reported $0.70 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.67 by $0.03. AMETEK had a return on equity of 16.39% and a net margin of 15.85%. The business had revenue of $1.14 billion during the quarter, compared to the consensus estimate of $1.09 billion. During the same period in the previous year, the business earned $0.58 EPS. The business’s quarterly revenue was up 17.5% on a year-over-year basis. equities analysts predict that AMETEK, Inc. will post 3.05 earnings per share for the current year.
The company also recently declared a quarterly dividend, which was paid on Thursday, March 29th. Stockholders of record on Friday, March 16th were issued a $0.14 dividend. This represents a $0.56 dividend on an annualized basis and a dividend yield of 0.76%. This is an increase from AMETEK’s previous quarterly dividend of $0.09. The ex-dividend date was Thursday, March 15th. AMETEK’s payout ratio is 21.46%.
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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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