Marks Group Wealth Management Inc lowered its position in shares of AMETEK, Inc. (NYSE:AME) by 0.6% in the 2nd quarter, according to its most recent disclosure with the SEC. The fund owned 42,675 shares of the technology company’s stock after selling 244 shares during the period. Marks Group Wealth Management Inc’s holdings in AMETEK were worth $5,693,000 as of its most recent filing with the SEC.
Other large investors have also recently modified their holdings of the company. Alpha Paradigm Partners LLC acquired a new position in shares of AMETEK during the first quarter worth approximately $42,000. KB Financial Partners LLC purchased a new position in AMETEK during the 1st quarter valued at about $45,000. Grandview Asset Management LLC acquired a new position in shares of AMETEK in the 1st quarter valued at about $51,000. E Fund Management Co. Ltd. purchased a new stake in shares of AMETEK in the first quarter worth approximately $52,000. Finally, Logan Capital Management Inc. acquired a new stake in shares of AMETEK during the first quarter worth approximately $57,000. Hedge funds and other institutional investors own 87.18% of the company’s stock.
AME traded up $1.29 during mid-day trading on Wednesday, hitting $132.53. The stock had a trading volume of 27,084 shares, compared to its average volume of 960,979. AMETEK, Inc. has a 1-year low of $94.90 and a 1-year high of $140.10. The firm has a market capitalization of $30.64 billion, a price-to-earnings ratio of 35.05, a price-to-earnings-growth ratio of 2.65 and a beta of 1.33. The company has a debt-to-equity ratio of 0.36, a current ratio of 1.10 and a quick ratio of 0.72. The stock’s fifty day simple moving average is $135.75 and its 200-day simple moving average is $132.78.
The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, September 30th. Stockholders of record on Tuesday, September 14th will be paid a dividend of $0.20 per share. The ex-dividend date of this dividend is Monday, September 13th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 0.60%. AMETEK’s dividend payout ratio is 20.25%.
Several research analysts have weighed in on AME shares. Morgan Stanley upped their target price on AMETEK from $151.00 to $156.00 and gave the stock an “overweight” rating in a research report on Wednesday, August 4th. Zacks Investment Research raised AMETEK from a “hold” rating to a “buy” rating and set a $143.00 price objective on the stock in a report on Monday, June 14th. KeyCorp increased their price target on AMETEK from $150.00 to $160.00 and gave the company an “overweight” rating in a report on Wednesday, August 4th. Wells Fargo & Company upped their price objective on shares of AMETEK from $170.00 to $175.00 and gave the stock an “overweight” rating in a report on Wednesday, August 4th. Finally, Robert W. Baird raised AMETEK to a “hold” rating in a research report on Thursday, August 5th. One analyst has rated the stock with a hold rating and six have assigned a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Buy” and an average target price of $158.50.
In related news, Director Steven W. Kohlhagen sold 5,160 shares of AMETEK stock in a transaction that occurred on Wednesday, September 8th. The stock was sold at an average price of $132.28, for a total transaction of $682,564.80. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider John Wesley Hardin sold 3,000 shares of AMETEK stock in a transaction on Wednesday, June 30th. The stock was sold at an average price of $133.44, for a total value of $400,320.00. Following the sale, the insider now directly owns 57,648 shares of the company’s stock, valued at approximately $7,692,549.12. The disclosure for this sale can be found here. 0.70% of the stock is currently owned by insiders.
AMETEK, Inc engages in the manufacture of electronic instruments and electromechanical devices. It operates through the following two segments: Electronic Instruments and Electromechanical. The Electronic Instruments segment designs and manufactures advanced instruments for the process, aerospace, power and industrial markets.
See Also: What is a stock portfolio tracker?
Receive News & Ratings for AMETEK Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for AMETEK and related companies with MarketBeat.com's FREE daily email newsletter.