Tyers Asset Management LLC increased its stake in shares of AMETEK, Inc. (NYSE:AME) by 6.3% during the first quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 10,444 shares of the technology company’s stock after buying an additional 616 shares during the period. Tyers Asset Management LLC’s holdings in AMETEK were worth $565,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Janus Capital Management LLC boosted its position in shares of AMETEK by 166.3% in the fourth quarter. Janus Capital Management LLC now owns 3,749,860 shares of the technology company’s stock valued at $182,282,000 after buying an additional 2,341,543 shares in the last quarter. Norges Bank acquired a new stake in AMETEK during the fourth quarter worth approximately $97,055,000. Champlain Investment Partners LLC acquired a new stake in AMETEK during the fourth quarter worth approximately $60,249,000. Fred Alger Management Inc. boosted its stake in AMETEK by 2,033.4% in the fourth quarter. Fred Alger Management Inc. now owns 1,242,650 shares of the technology company’s stock worth $60,393,000 after buying an additional 1,184,403 shares during the period. Finally, Renaissance Technologies LLC boosted its stake in AMETEK by 470.2% in the fourth quarter. Renaissance Technologies LLC now owns 1,019,150 shares of the technology company’s stock worth $49,531,000 after buying an additional 840,400 shares during the period. Institutional investors own 89.39% of the company’s stock.
AMETEK, Inc. (NYSE:AME) traded up 1.98% on Friday, hitting $60.31. The stock had a trading volume of 759,061 shares. The company’s 50 day moving average is $56.71 and its 200 day moving average is $52.25. AMETEK, Inc. has a 12-month low of $43.28 and a 12-month high of $60.69. The firm has a market cap of $13.88 billion, a PE ratio of 27.18 and a beta of 1.11.
AMETEK (NYSE:AME) last announced its quarterly earnings data on Tuesday, May 2nd. The technology company reported $0.60 EPS for the quarter, beating the Zacks’ consensus estimate of $0.57 by $0.03. The business had revenue of $1.01 billion during the quarter, compared to analyst estimates of $961.36 million. AMETEK had a net margin of 13.34% and a return on equity of 16.19%. The firm’s revenue for the quarter was up 6.7% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.57 earnings per share. On average, equities research analysts expect that AMETEK, Inc. will post $2.47 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, June 30th. Stockholders of record on Friday, June 16th will be given a dividend of $0.09 per share. This represents a $0.36 dividend on an annualized basis and a dividend yield of 0.61%. AMETEK’s dividend payout ratio is currently 16.44%.
A number of research firms have recently commented on AME. Zacks Investment Research cut AMETEK from a “buy” rating to a “hold” rating in a research report on Friday. Morgan Stanley lifted their price target on AMETEK from $57.00 to $62.00 and gave the stock an “equal weight” rating in a research note on Monday, May 8th. BMO Capital Markets reissued an “outperform” rating and set a $67.00 price objective (up previously from $65.00) on shares of AMETEK in a research note on Wednesday, May 3rd. Jefferies Group LLC reissued a “buy” rating and set a $66.00 price objective (up previously from $63.00) on shares of AMETEK in a research note on Wednesday, May 3rd. Finally, Atlantic Securities raised AMETEK from a “neutral” rating to an “overweight” rating and boosted their price objective for the stock from $48.00 to $62.00 in a research note on Wednesday, February 15th. Two analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. AMETEK has a consensus rating of “Buy” and a consensus target price of $59.50.
In other news, Director Dennis K. Williams sold 7,582 shares of the stock in a transaction that occurred on Wednesday, February 22nd. The shares were sold at an average price of $55.07, for a total transaction of $417,540.74. Following the sale, the director now directly owns 29,079 shares of the company’s stock, valued at $1,601,380.53. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director James R. Malone sold 1,190 shares of the firm’s stock in a transaction that occurred on Friday, May 12th. The shares were sold at an average price of $59.65, for a total transaction of $70,983.50. Following the completion of the transaction, the director now directly owns 4,300 shares in the company, valued at $256,495. The disclosure for this sale can be found here. Insiders have sold 64,751 shares of company stock valued at $3,725,073 in the last ninety days. 2.00% of the stock is owned by company insiders.
AMETEK, Inc is a manufacturer of electronic instruments and electromechanical devices with operations in North America, Europe, Asia and South America. The Company operates through two segments: Electronic Instruments (EIG) and Electromechanical (EMG). EIG designs and manufactures instruments for the process, power and industrial and aerospace markets.
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