Barings LLC cut its holdings in AMETEK, Inc. (NYSE:AME) by 63.9% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 16,856 shares of the technology company’s stock after selling 29,800 shares during the period. Barings LLC’s holdings in AMETEK were worth $1,333,000 as of its most recent SEC filing.
A number of other institutional investors have also bought and sold shares of AME. BlackRock Inc. raised its stake in AMETEK by 11.8% in the second quarter. BlackRock Inc. now owns 18,178,345 shares of the technology company’s stock valued at $1,311,749,000 after buying an additional 1,922,878 shares in the last quarter. Millennium Management LLC raised its stake in AMETEK by 169.1% in the second quarter. Millennium Management LLC now owns 1,647,306 shares of the technology company’s stock valued at $118,870,000 after buying an additional 1,035,084 shares in the last quarter. Renaissance Technologies LLC acquired a new stake in AMETEK in the second quarter valued at $40,825,000. BNP Paribas Arbitrage SA raised its stake in AMETEK by 714.2% in the second quarter. BNP Paribas Arbitrage SA now owns 610,418 shares of the technology company’s stock valued at $44,048,000 after buying an additional 535,447 shares in the last quarter. Finally, Epoch Investment Partners Inc. raised its stake in AMETEK by 62.5% in the second quarter. Epoch Investment Partners Inc. now owns 1,296,342 shares of the technology company’s stock valued at $93,544,000 after buying an additional 498,391 shares in the last quarter. Institutional investors own 85.13% of the company’s stock.
AME opened at $71.63 on Friday. The company has a debt-to-equity ratio of 0.42, a quick ratio of 1.19 and a current ratio of 1.71. AMETEK, Inc. has a one year low of $64.91 and a one year high of $81.92. The stock has a market cap of $15.39 billion, a PE ratio of 22.35, a PEG ratio of 1.89 and a beta of 1.18.
AMETEK (NYSE:AME) last posted its earnings results on Thursday, November 1st. The technology company reported $0.82 EPS for the quarter, topping the Zacks’ consensus estimate of $0.78 by $0.04. AMETEK had a return on equity of 16.94% and a net margin of 16.65%. The business had revenue of $1.19 billion for the quarter, compared to analysts’ expectations of $1.18 billion. During the same quarter in the previous year, the firm earned $0.66 earnings per share. The business’s revenue was up 10.0% compared to the same quarter last year. As a group, equities research analysts anticipate that AMETEK, Inc. will post 3.21 EPS for the current year.
In related news, VP William Joseph Burke sold 15,600 shares of the firm’s stock in a transaction dated Tuesday, September 11th. The stock was sold at an average price of $80.00, for a total transaction of $1,248,000.00. Following the transaction, the vice president now owns 68,289 shares of the company’s stock, valued at $5,463,120. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, insider John Wesley Hardin sold 29,955 shares of the firm’s stock in a transaction dated Wednesday, September 19th. The stock was sold at an average price of $81.55, for a total value of $2,442,830.25. Following the transaction, the insider now directly owns 70,016 shares in the company, valued at approximately $5,709,804.80. The disclosure for this sale can be found here. In the last three months, insiders have sold 59,925 shares of company stock worth $4,811,210. Corporate insiders own 2.10% of the company’s stock.
AME has been the topic of a number of analyst reports. Morgan Stanley raised their price target on AMETEK from $79.00 to $84.00 and gave the company an “equal weight” rating in a research note on Wednesday, August 1st. Royal Bank of Canada restated a “buy” rating and issued a $86.00 price target on shares of AMETEK in a research note on Wednesday, August 1st. Bank of America raised their price target on AMETEK from $87.00 to $91.00 and gave the company a “buy” rating in a research note on Wednesday, August 1st. ValuEngine cut AMETEK from a “buy” rating to a “hold” rating in a research report on Tuesday, October 23rd. Finally, Oppenheimer lifted their target price on AMETEK from $85.00 to $90.00 and gave the stock an “outperform” rating in a research report on Wednesday, August 1st. Three research analysts have rated the stock with a hold rating and ten have given a buy rating to the company. The company presently has an average rating of “Buy” and a consensus target price of $86.83.
AMETEK Company Profile
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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