Cramer Rosenthal Mcglynn LLC lowered its position in AMETEK, Inc. (NYSE:AME) by 4.5% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 285,775 shares of the technology company’s stock after selling 13,470 shares during the quarter. Cramer Rosenthal Mcglynn LLC’s holdings in AMETEK were worth $20,710,000 at the end of the most recent quarter.
A number of other hedge funds have also recently modified their holdings of the business. Sapience Investments LLC raised its stake in shares of AMETEK by 26.9% in the 4th quarter. Sapience Investments LLC now owns 29,520 shares of the technology company’s stock valued at $2,139,000 after purchasing an additional 6,260 shares in the last quarter. Ellington Management Group LLC acquired a new stake in shares of AMETEK in the 4th quarter valued at about $283,000. Jones Financial Companies Lllp acquired a new stake in shares of AMETEK in the 4th quarter valued at about $340,000. Goldman Sachs Group Inc. raised its stake in shares of AMETEK by 2.4% in the 4th quarter. Goldman Sachs Group Inc. now owns 1,807,402 shares of the technology company’s stock valued at $130,982,000 after purchasing an additional 43,220 shares in the last quarter. Finally, Stone Ridge Asset Management LLC acquired a new stake in shares of AMETEK in the 4th quarter valued at about $1,468,000. Hedge funds and other institutional investors own 86.10% of the company’s stock.
In related news, insider John Wesley Hardin sold 25,965 shares of the stock in a transaction dated Monday, February 26th. The shares were sold at an average price of $78.50, for a total transaction of $2,038,252.50. Following the sale, the insider now owns 85,663 shares in the company, valued at $6,724,545.50. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Elizebeth R. Varet sold 6,295 shares of the stock in a transaction dated Wednesday, February 7th. The stock was sold at an average price of $74.72, for a total transaction of $470,362.40. The disclosure for this sale can be found here. In the last quarter, insiders have sold 74,604 shares of company stock worth $5,742,548. 2.10% of the stock is owned by company insiders.
Shares of AMETEK, Inc. (AME) opened at $78.38 on Wednesday. The firm has a market cap of $18,125.06, a PE ratio of 30.02, a P/E/G ratio of 2.24 and a beta of 1.27. AMETEK, Inc. has a 12 month low of $52.42 and a 12 month high of $79.32. The company has a debt-to-equity ratio of 0.46, a quick ratio of 1.22 and a current ratio of 1.70.
AMETEK (NYSE:AME) last released its quarterly earnings data on Thursday, February 1st. The technology company reported $0.70 earnings per share for the quarter, topping the consensus estimate of $0.67 by $0.03. The firm had revenue of $1.14 billion for the quarter, compared to analyst estimates of $1.09 billion. AMETEK had a net margin of 15.85% and a return on equity of 16.39%. AMETEK’s quarterly revenue was up 17.5% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.58 earnings per share. analysts expect that AMETEK, Inc. will post 3.04 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, March 29th. Investors of record on Friday, March 16th will be paid a dividend of $0.14 per share. This is a positive change from AMETEK’s previous quarterly dividend of $0.09. The ex-dividend date is Thursday, March 15th. This represents a $0.56 annualized dividend and a yield of 0.71%. AMETEK’s dividend payout ratio is 12.24%.
A number of equities research analysts have recently issued reports on the stock. Zacks Investment Research upgraded shares of AMETEK from a “hold” rating to a “buy” rating and set a $87.00 target price on the stock in a research note on Monday, February 5th. BMO Capital Markets upped their target price on shares of AMETEK from $88.00 to $90.00 and gave the company an “outperform” rating in a research note on Friday, February 2nd. Stifel Nicolaus restated a “buy” rating and issued a $92.00 target price on shares of AMETEK in a research note on Thursday, February 1st. Morgan Stanley upped their target price on shares of AMETEK from $67.00 to $76.00 and gave the company an “overweight” rating in a research note on Wednesday, February 7th. Finally, ValuEngine upgraded shares of AMETEK from a “hold” rating to a “buy” rating in a research note on Thursday, March 1st. One research analyst has rated the stock with a hold rating and twelve have given a buy rating to the company. The company presently has an average rating of “Buy” and a consensus target price of $81.64.
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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