Neuburgh Advisers LLC grew its position in AMETEK, Inc. (NYSE:AME) by 7.3% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 10,318 shares of the technology company’s stock after buying an additional 704 shares during the quarter. Neuburgh Advisers LLC’s holdings in AMETEK were worth $856,000 as of its most recent filing with the Securities and Exchange Commission.
Other hedge funds and other institutional investors have also recently modified their holdings of the company. Cornerstone Advisors Inc. grew its stake in shares of AMETEK by 55.2% in the first quarter. Cornerstone Advisors Inc. now owns 388 shares of the technology company’s stock valued at $32,000 after buying an additional 138 shares in the last quarter. IFP Advisors Inc grew its stake in shares of AMETEK by 76.4% in the fourth quarter. IFP Advisors Inc now owns 441 shares of the technology company’s stock valued at $29,000 after buying an additional 191 shares in the last quarter. Laurel Wealth Advisors LLC acquired a new stake in shares of AMETEK in the fourth quarter valued at $32,000. Liberty Wealth Management LLC acquired a new stake in shares of AMETEK in the first quarter valued at $40,000. Finally, Rockefeller Capital Management L.P. grew its stake in shares of AMETEK by 2,171.0% in the first quarter. Rockefeller Capital Management L.P. now owns 704 shares of the technology company’s stock valued at $59,000 after buying an additional 673 shares in the last quarter. 85.92% of the stock is owned by institutional investors and hedge funds.
A number of equities research analysts have recently weighed in on AME shares. DA Davidson lifted their price objective on AMETEK to $92.00 and gave the company a “buy” rating in a research note on Friday, March 15th. ValuEngine raised AMETEK from a “hold” rating to a “buy” rating in a research note on Wednesday, May 1st. KeyCorp boosted their target price on AMETEK from $86.00 to $94.00 and gave the stock an “overweight” rating in a research note on Thursday, May 2nd. BMO Capital Markets boosted their target price on AMETEK from $99.00 to $101.00 and gave the stock an “outperform” rating in a research note on Thursday, May 2nd. Finally, Vertical Research reissued a “buy” rating on shares of AMETEK in a research note on Friday, May 3rd. Fifteen equities research analysts have rated the stock with a buy rating, The company currently has a consensus rating of “Buy” and a consensus price target of $91.50.
AMETEK (NYSE:AME) last released its earnings results on Wednesday, May 1st. The technology company reported $1.00 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.97 by $0.03. AMETEK had a return on equity of 18.56% and a net margin of 16.14%. The firm had revenue of $1.29 billion during the quarter, compared to analysts’ expectations of $1.28 billion. During the same period in the previous year, the firm posted $0.79 EPS. AMETEK’s revenue for the quarter was up 9.8% on a year-over-year basis. As a group, research analysts forecast that AMETEK, Inc. will post 4.08 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Friday, June 28th. Investors of record on Friday, June 14th will be paid a dividend of $0.14 per share. The ex-dividend date of this dividend is Thursday, June 13th. This represents a $0.56 annualized dividend and a yield of 0.66%. AMETEK’s payout ratio is 17.02%.
In other AMETEK news, Director Steven W. Kohlhagen sold 3,494 shares of AMETEK stock in a transaction dated Tuesday, March 19th. The stock was sold at an average price of $81.78, for a total transaction of $285,739.32. Following the completion of the sale, the director now directly owns 55,003 shares of the company’s stock, valued at approximately $4,498,145.34. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Dennis K. Williams sold 1,570 shares of AMETEK stock in a transaction dated Thursday, May 2nd. The stock was sold at an average price of $87.00, for a total value of $136,590.00. The disclosure for this sale can be found here. Insiders have sold a total of 73,614 shares of company stock valued at $6,314,246 over the last three months. 0.80% of the stock is currently owned by insiders.
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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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