Fort L.P. lifted its position in AMETEK, Inc. (NYSE:AME) by 39.5% in the 1st quarter, HoldingsChannel.com reports. The firm owned 31,000 shares of the technology company’s stock after acquiring an additional 8,776 shares during the quarter. Fort L.P.’s holdings in AMETEK were worth $2,572,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other institutional investors and hedge funds have also recently bought and sold shares of the company. Oregon Public Employees Retirement Fund lifted its stake in shares of AMETEK by 6,587.0% in the 4th quarter. Oregon Public Employees Retirement Fund now owns 1,702,384 shares of the technology company’s stock valued at $25,000 after purchasing an additional 1,676,926 shares during the period. IFP Advisors Inc lifted its stake in shares of AMETEK by 76.4% in the 4th quarter. IFP Advisors Inc now owns 441 shares of the technology company’s stock valued at $29,000 after purchasing an additional 191 shares during the period. Laurel Wealth Advisors LLC acquired a new position in shares of AMETEK in the 4th quarter valued at $32,000. Cornerstone Advisors Inc. lifted its stake in shares of AMETEK by 55.2% in the 1st quarter. Cornerstone Advisors Inc. now owns 388 shares of the technology company’s stock valued at $32,000 after purchasing an additional 138 shares during the period. Finally, Liberty Wealth Management LLC acquired a new position in AMETEK during the first quarter worth $40,000. Hedge funds and other institutional investors own 85.92% of the company’s stock.
In other news, Director Elizebeth R. Varet sold 3,000 shares of the company’s stock in a transaction on Thursday, June 13th. The shares were sold at an average price of $85.80, for a total transaction of $257,400.00. Following the completion of the sale, the director now owns 101,670 shares of the company’s stock, valued at $8,723,286. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, insider Timothy N. Jones sold 5,000 shares of the company’s stock in a transaction on Thursday, March 28th. The stock was sold at an average price of $82.20, for a total transaction of $411,000.00. Following the sale, the insider now directly owns 37,177 shares of the company’s stock, valued at approximately $3,055,949.40. The disclosure for this sale can be found here. Insiders have sold 73,614 shares of company stock valued at $6,314,246 in the last ninety days. Insiders own 0.80% of the company’s stock.
A number of equities analysts have weighed in on AME shares. DA Davidson upped their price objective on shares of AMETEK to $101.00 and gave the stock a “buy” rating in a research report on Thursday, May 2nd. Morgan Stanley set a $95.00 price objective on shares of AMETEK and gave the stock a “buy” rating in a research report on Friday, May 3rd. KeyCorp upped their price objective on shares of AMETEK from $86.00 to $94.00 and gave the stock an “overweight” rating in a research report on Thursday, May 2nd. ValuEngine upgraded shares of AMETEK from a “hold” rating to a “buy” rating in a research report on Wednesday, May 1st. Finally, Vertical Research restated a “buy” rating on shares of AMETEK in a research report on Friday, May 3rd. Fifteen analysts have rated the stock with a buy rating, AMETEK presently has a consensus rating of “Buy” and a consensus price target of $91.50.
AMETEK stock opened at $85.68 on Friday. AMETEK, Inc. has a 52-week low of $63.14 and a 52-week high of $88.76. The firm has a market cap of $19.48 billion, a PE ratio of 24.36, a price-to-earnings-growth ratio of 2.18 and a beta of 1.21. The company has a quick ratio of 1.27, a current ratio of 1.91 and a debt-to-equity ratio of 0.53.
AMETEK (NYSE:AME) last released its earnings results on Wednesday, May 1st. The technology company reported $1.00 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.97 by $0.03. AMETEK had a net margin of 16.14% and a return on equity of 18.56%. The business had revenue of $1.29 billion during the quarter, compared to analyst estimates of $1.28 billion. During the same quarter in the prior year, the firm earned $0.79 earnings per share. The company’s revenue for the quarter was up 9.8% compared to the same quarter last year. Equities research analysts anticipate that AMETEK, Inc. will post 4.08 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, June 28th. Stockholders of record on Friday, June 14th will be issued a dividend of $0.14 per share. This represents a $0.56 dividend on an annualized basis and a dividend yield of 0.65%. The ex-dividend date is Thursday, June 13th. AMETEK’s payout ratio is 17.02%.
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AMETEK Company Profile
AMETEK, Inc manufactures and sells electronic instruments and electromechanical devices worldwide. The company's Electronic Instruments segment offers advanced instruments for the process, aerospace, power, and industrial markets; process control instruments for the oil and gas, petrochemical, pharmaceutical, semiconductor, automation, and food and beverage industries; and instruments to the laboratory equipment, ultra-precision manufacturing, medical, and test and measurement markets.
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