Fort L.P. lowered its stake in shares of AMETEK, Inc. (NYSE:AME) by 5.4% in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 27,878 shares of the technology company’s stock after selling 1,587 shares during the quarter. Fort L.P.’s holdings in AMETEK were worth $2,008,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds have also bought and sold shares of AME. Amundi Pioneer Asset Management Inc. boosted its position in shares of AMETEK by 16.2% in the first quarter. Amundi Pioneer Asset Management Inc. now owns 242,237 shares of the technology company’s stock valued at $20,098,000 after acquiring an additional 33,825 shares during the period. Advisory Services Network LLC boosted its position in shares of AMETEK by 825.7% in the fourth quarter. Advisory Services Network LLC now owns 9,109 shares of the technology company’s stock valued at $909,000 after acquiring an additional 8,125 shares during the period. Aigen Investment Management LP bought a new stake in shares of AMETEK in the fourth quarter valued at approximately $41,000. Corient Capital Partners LLC boosted its position in shares of AMETEK by 7.9% in the fourth quarter. Corient Capital Partners LLC now owns 3,157 shares of the technology company’s stock valued at $315,000 after acquiring an additional 231 shares during the period. Finally, Mitsubishi UFJ Kokusai Asset Management Co. Ltd. lifted its position in AMETEK by 14.9% in the fourth quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 48,038 shares of the technology company’s stock worth $4,849,000 after purchasing an additional 6,231 shares during the period. 85.60% of the stock is owned by institutional investors.
Shares of NYSE:AME traded down $4.58 during midday trading on Thursday, reaching $88.57. The company’s stock had a trading volume of 45,140 shares, compared to its average volume of 1,682,263. AMETEK, Inc. has a fifty-two week low of $54.82 and a fifty-two week high of $102.31. The company has a market capitalization of $21.38 billion, a P/E ratio of 22.83, a P/E/G ratio of 3.90 and a beta of 1.24. The company has a debt-to-equity ratio of 0.51, a current ratio of 1.88 and a quick ratio of 1.43. The business’s fifty day simple moving average is $84.81 and its 200-day simple moving average is $89.65.
AMETEK (NYSE:AME) last announced its earnings results on Tuesday, May 5th. The technology company reported $1.02 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.96 by $0.06. AMETEK had a return on equity of 18.77% and a net margin of 18.48%. The company had revenue of $1.20 billion during the quarter, compared to analyst estimates of $1.24 billion. During the same period last year, the company posted $1.00 earnings per share. The firm’s quarterly revenue was down 6.6% compared to the same quarter last year. On average, analysts forecast that AMETEK, Inc. will post 3.55 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 30th. Investors of record on Friday, June 12th will be given a $0.18 dividend. The ex-dividend date is Thursday, June 11th. This represents a $0.72 dividend on an annualized basis and a yield of 0.81%. AMETEK’s payout ratio is 17.18%.
Several research analysts recently commented on the company. DA Davidson reaffirmed a “buy” rating and issued a $93.00 target price on shares of AMETEK in a research report on Thursday, April 16th. Rosenblatt Securities assumed coverage on AMETEK in a research report on Wednesday, May 6th. They issued a “buy” rating and a $92.00 target price for the company. Cowen raised AMETEK from a “market perform” rating to an “outperform” rating and reduced their target price for the stock from $100.00 to $95.00 in a research report on Thursday, March 12th. Robert W. Baird raised their target price on AMETEK from $80.00 to $84.00 and gave the stock a “neutral” rating in a research report on Wednesday, May 6th. Finally, Morgan Stanley raised their target price on AMETEK from $82.00 to $90.00 and gave the stock an “overweight” rating in a research report on Wednesday, May 6th. Four analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and a consensus price target of $97.73.
In related news, Director Anthony James Conti sold 1,000 shares of AMETEK stock in a transaction dated Wednesday, May 6th. The stock was sold at an average price of $81.53, for a total value of $81,530.00. Following the completion of the sale, the director now directly owns 24,518 shares in the company, valued at $1,998,952.54. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 0.74% of the stock is owned by company insiders.
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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