361 Capital LLC cut its position in shares of AMETEK, Inc. (NYSE:AME) by 0.7% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 19,861 shares of the technology company’s stock after selling 134 shares during the quarter. 361 Capital LLC’s holdings in AMETEK were worth $1,804,000 at the end of the most recent reporting period.
Several other hedge funds have also bought and sold shares of AME. Dimensional Fund Advisors LP increased its holdings in AMETEK by 3.8% during the 4th quarter. Dimensional Fund Advisors LP now owns 1,077,657 shares of the technology company’s stock worth $72,955,000 after purchasing an additional 39,003 shares in the last quarter. Geode Capital Management LLC lifted its stake in AMETEK by 5.8% during the 4th quarter. Geode Capital Management LLC now owns 2,966,822 shares of the technology company’s stock valued at $200,498,000 after acquiring an additional 162,203 shares in the last quarter. Pennsylvania Trust Co purchased a new position in AMETEK during the 1st quarter worth $207,000. Mercer Global Advisors Inc. ADV purchased a new stake in shares of AMETEK in the first quarter valued at about $2,069,000. Finally, Oppenheimer & Co. Inc. boosted its holdings in AMETEK by 10.1% during the first quarter. Oppenheimer & Co. Inc. now owns 22,235 shares of the technology company’s stock worth $1,844,000 after purchasing an additional 2,033 shares during the last quarter. 86.10% of the stock is owned by hedge funds and other institutional investors.
A number of research analysts have issued reports on the company. Morgan Stanley upped their price objective on AMETEK from $95.00 to $97.00 and gave the company an “overweight” rating in a research note on Wednesday, July 31st. Royal Bank of Canada set a $95.00 target price on shares of AMETEK and gave the stock a “buy” rating in a research note on Wednesday, July 31st. Berenberg Bank initiated coverage on AMETEK in a research report on Wednesday, May 15th. They set a “buy” rating and a $100.00 price target on the stock. Oppenheimer upped their price target on shares of AMETEK from $94.00 to $100.00 and gave the stock an “outperform” rating in a report on Wednesday, July 31st. Finally, ValuEngine lowered shares of AMETEK from a “buy” rating to a “hold” rating in a report on Thursday, August 1st. One research analyst has rated the stock with a hold rating and thirteen have issued a buy rating to the company. The stock presently has a consensus rating of “Buy” and a consensus target price of $94.36.
In other AMETEK news, Director Elizebeth R. Varet sold 2,000 shares of the firm’s stock in a transaction that occurred on Monday, June 17th. The shares were sold at an average price of $84.90, for a total transaction of $169,800.00. Following the sale, the director now owns 99,670 shares in the company, valued at approximately $8,461,983. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CFO William Joseph Burke sold 16,322 shares of the stock in a transaction on Tuesday, June 18th. The stock was sold at an average price of $86.51, for a total value of $1,412,016.22. Following the completion of the sale, the chief financial officer now owns 86,727 shares of the company’s stock, valued at approximately $7,502,752.77. The disclosure for this sale can be found here. Insiders sold 32,250 shares of company stock worth $2,797,956 over the last three months. Insiders own 0.80% of the company’s stock.
Shares of NYSE AME opened at $88.10 on Thursday. The firm has a 50-day moving average of $86.55 and a 200 day moving average of $85.46. The stock has a market cap of $20.50 billion, a P/E ratio of 26.78, a price-to-earnings-growth ratio of 2.29 and a beta of 1.21. AMETEK, Inc. has a 1 year low of $63.14 and a 1 year high of $92.30. The company has a debt-to-equity ratio of 0.51, a current ratio of 2.17 and a quick ratio of 1.53.
AMETEK (NYSE:AME) last posted its quarterly earnings results on Tuesday, July 30th. The technology company reported $1.05 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.03 by $0.02. AMETEK had a return on equity of 19.27% and a net margin of 16.32%. The firm had revenue of $1.29 billion during the quarter, compared to analyst estimates of $1.32 billion. During the same quarter in the previous year, the firm earned $0.83 EPS. AMETEK’s quarterly revenue was up 6.7% compared to the same quarter last year. Research analysts expect that AMETEK, Inc. will post 4.1 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Monday, September 30th. Shareholders of record on Monday, September 16th will be given a $0.14 dividend. The ex-dividend date of this dividend is Friday, September 13th. This represents a $0.56 annualized dividend and a yield of 0.64%. AMETEK’s payout ratio is 17.02%.
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.
Recommended Story: What is an Initial Coin Offering (ICO)?
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.