Amundi Pioneer Asset Management Inc. increased its position in AMETEK, Inc. (NYSE:AME) by 7.6% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 184,547 shares of the technology company’s stock after purchasing an additional 13,065 shares during the period. Amundi Pioneer Asset Management Inc.’s holdings in AMETEK were worth $14,020,000 at the end of the most recent reporting period.
Other institutional investors have also recently made changes to their positions in the company. Teachers Advisors LLC boosted its stake in AMETEK by 0.4% in the 4th quarter. Teachers Advisors LLC now owns 496,251 shares of the technology company’s stock worth $35,963,000 after purchasing an additional 2,120 shares in the last quarter. D.A. Davidson & CO. bought a new position in AMETEK in the 4th quarter worth about $210,000. Allianz Asset Management GmbH boosted its stake 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 worth $224,343,000 after purchasing an additional 681,646 shares in the last quarter. Raymond James Financial Services Advisors Inc. boosted its stake in AMETEK by 8.9% in the 4th quarter. Raymond James Financial Services Advisors Inc. now owns 50,803 shares of the technology company’s stock worth $3,682,000 after purchasing an additional 4,152 shares in the last quarter. Finally, Champlain Investment Partners LLC boosted its stake in AMETEK by 1.0% in the 4th quarter. Champlain Investment Partners LLC now owns 1,519,600 shares of the technology company’s stock worth $110,125,000 after purchasing an additional 15,750 shares in the last quarter. Institutional investors own 83.98% of the company’s stock.
A number of equities analysts recently issued reports on the stock. Zacks Investment Research upgraded shares of AMETEK from a “hold” rating to a “buy” rating and set a $85.00 price target on the stock in a research note on Tuesday, May 22nd. ValuEngine upgraded shares of AMETEK from a “hold” rating to a “buy” rating in a research note on Thursday, March 1st. DA Davidson assumed coverage on shares of AMETEK in a research note on Thursday, April 12th. They issued a “buy” rating and a $85.00 price target on the stock. Morgan Stanley upped their price target on shares of AMETEK from $76.00 to $79.00 and gave the stock an “equal weight” rating in a research note on Thursday, May 3rd. Finally, BMO Capital Markets upped their price target on shares of AMETEK from $90.00 to $92.00 and gave the stock an “outperform” rating in a research note on Thursday, May 3rd. Three investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. The stock currently has a consensus rating of “Buy” and a consensus price target of $82.17.
In other news, Director Elizebeth R. Varet sold 2,000 shares of the company’s stock in a transaction dated Friday, June 8th. The shares were sold at an average price of $75.56, for a total transaction of $151,120.00. Following the completion of the sale, the director now owns 113,810 shares of the company’s stock, valued at approximately $8,599,483.60. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 2.10% of the stock is owned by corporate insiders.
AMETEK opened at $73.00 on Monday, according to MarketBeat. AMETEK, Inc. has a 52 week low of $59.56 and a 52 week high of $79.32. The stock has a market cap of $16.79 billion, a PE ratio of 27.97, a price-to-earnings-growth ratio of 2.32 and a beta of 1.26. The company has a quick ratio of 1.18, a current ratio of 1.69 and a debt-to-equity ratio of 0.45.
AMETEK (NYSE:AME) last released its quarterly earnings results on Wednesday, May 2nd. The technology company reported $0.78 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.72 by $0.06. AMETEK had a net margin of 16.21% and a return on equity of 16.64%. The firm had revenue of $1.17 billion during the quarter, compared to analyst estimates of $1.12 billion. During the same quarter in the prior year, the firm earned $0.61 EPS. The business’s revenue for the quarter was up 16.4% compared to the same quarter last year. sell-side analysts forecast that AMETEK, Inc. will post 3.13 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, June 29th. Stockholders of record on Friday, June 15th will be given a dividend of $0.14 per share. This represents a $0.56 annualized dividend and a dividend yield of 0.77%. The ex-dividend date of this dividend is Thursday, June 14th. AMETEK’s payout ratio is currently 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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