Haverford Trust Co. purchased a new stake in AMETEK, Inc. (NYSE:AME) in the first quarter, HoldingsChannel reports. The firm purchased 2,829 shares of the technology company’s stock, valued at approximately $215,000.
Other institutional investors and hedge funds have also modified their holdings of the company. Teachers Advisors LLC raised its stake in AMETEK by 0.4% during the fourth quarter. Teachers Advisors LLC now owns 496,251 shares of the technology company’s stock valued at $35,963,000 after buying an additional 2,120 shares in the last quarter. D.A. Davidson & CO. acquired a new stake in AMETEK during the fourth quarter valued at approximately $210,000. Mendel Money Management acquired a new stake in AMETEK during the fourth quarter valued at approximately $2,509,000. Employees Retirement System of Texas raised its stake in AMETEK by 1.6% during the fourth quarter. Employees Retirement System of Texas now owns 240,800 shares of the technology company’s stock valued at $17,451,000 after buying an additional 3,800 shares in the last quarter. Finally, Bredin Investment LLC acquired a new stake in AMETEK during the fourth quarter valued at approximately $982,000. 84.10% of the stock is owned by hedge funds and other institutional investors.
In related news, Director Steven W. Kohlhagen sold 5,000 shares of the stock in a transaction that occurred on Friday, March 9th. The stock was sold at an average price of $78.31, for a total value of $391,550.00. Following the completion of the transaction, the director now directly owns 49,298 shares of the company’s stock, valued at approximately $3,860,526.38. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Elizebeth R. Varet sold 3,000 shares of the stock in a transaction that occurred on Thursday, March 15th. The stock was sold at an average price of $78.03, for a total value of $234,090.00. Following the completion of the transaction, the director now directly owns 111,880 shares of the company’s stock, valued at $8,729,996.40. The disclosure for this sale can be found here. Insiders sold a total of 33,965 shares of company stock valued at $2,663,893 over the last three months. Corporate insiders own 2.00% of the company’s stock.
Several brokerages have issued reports on AME. Zacks Investment Research upgraded AMETEK from a “hold” rating to a “buy” rating and set a $85.00 price objective on the stock in a research note on Tuesday. Morgan Stanley upped their price objective on AMETEK from $76.00 to $79.00 and gave the company an “equal weight” rating in a research note on Thursday, May 3rd. BMO Capital Markets increased their price target on AMETEK from $90.00 to $92.00 and gave the stock an “outperform” rating in a research report on Thursday, May 3rd. DA Davidson assumed coverage on AMETEK in a research report on Thursday, April 12th. They set a “buy” rating and a $85.00 price target on the stock. Finally, KeyCorp increased their price target on AMETEK from $82.00 to $86.00 and gave the stock an “overweight” rating in a research report on Friday, February 2nd. Two analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. The company presently has a consensus rating of “Buy” and a consensus target price of $82.17.
Shares of AMETEK opened at $75.57 on Wednesday, Marketbeat reports. The company has a debt-to-equity ratio of 0.45, a quick ratio of 1.18 and a current ratio of 1.69. The company has a market cap of $17.66 billion, a PE ratio of 28.95, a P/E/G ratio of 2.44 and a beta of 1.27. AMETEK, Inc. has a twelve month low of $59.56 and a twelve month high of $79.32.
AMETEK (NYSE:AME) last announced its quarterly earnings results on Wednesday, May 2nd. The technology company reported $0.78 earnings per share for the quarter, topping analysts’ consensus estimates of $0.72 by $0.06. The business had revenue of $1.17 billion for the quarter, compared to analysts’ expectations of $1.12 billion. AMETEK had a return on equity of 16.64% and a net margin of 16.21%. The business’s quarterly revenue was up 16.4% on a year-over-year basis. During the same period in the prior year, the firm earned $0.61 EPS. research analysts expect that AMETEK, Inc. will post 3.12 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, June 29th. Investors of record on Friday, June 15th will be issued a $0.14 dividend. This represents a $0.56 dividend on an annualized basis and a yield of 0.74%. The ex-dividend date is Thursday, June 14th. AMETEK’s dividend payout ratio (DPR) is 21.46%.
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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