Fox Run Management L.L.C. Invests $542,000 in AMETEK, Inc. (AME)

Fox Run Management L.L.C. bought a new stake in AMETEK, Inc. (NYSE:AME) in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 6,847 shares of the technology company’s stock, valued at approximately $542,000.

Other institutional investors have also recently bought and sold shares of the company. BlackRock Inc. raised its stake in AMETEK by 11.8% during the 2nd quarter. BlackRock Inc. now owns 18,178,345 shares of the technology company’s stock valued at $1,311,749,000 after acquiring an additional 1,922,878 shares during the last quarter. Millennium Management LLC raised its stake in AMETEK by 169.1% during the 2nd quarter. Millennium Management LLC now owns 1,647,306 shares of the technology company’s stock valued at $118,870,000 after acquiring an additional 1,035,084 shares during the last quarter. The Manufacturers Life Insurance Company raised its stake in AMETEK by 163.7% during the 1st quarter. The Manufacturers Life Insurance Company now owns 1,093,946 shares of the technology company’s stock valued at $83,106,000 after acquiring an additional 679,049 shares during the last quarter. Renaissance Technologies LLC purchased a new stake in AMETEK during the 2nd quarter valued at approximately $40,825,000. Finally, BNP Paribas Arbitrage SA raised its stake in AMETEK by 714.2% during the 2nd quarter. BNP Paribas Arbitrage SA now owns 610,418 shares of the technology company’s stock valued at $44,048,000 after acquiring an additional 535,447 shares during the last quarter. 85.15% of the stock is owned by institutional investors and hedge funds.

AME has been the subject of several analyst reports. Bank of America upped their price objective on AMETEK from $87.00 to $91.00 and gave the company a “buy” rating in a research note on Wednesday, August 1st. Royal Bank of Canada reaffirmed a “buy” rating and set a $86.00 price objective on shares of AMETEK in a research note on Wednesday, August 1st. Cowen reaffirmed a “buy” rating and set a $85.00 price objective on shares of AMETEK in a research note on Sunday, August 12th. Morgan Stanley upped their price objective on AMETEK from $79.00 to $84.00 and gave the company an “equal weight” rating in a research note on Wednesday, August 1st. Finally, ValuEngine raised AMETEK from a “hold” rating to a “buy” rating in a research note on Thursday, August 2nd. Two analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. AMETEK currently has a consensus rating of “Buy” and an average price target of $86.08.

In other news, VP William Joseph Burke sold 15,600 shares of the stock in a transaction that occurred on Tuesday, September 11th. The stock was sold at an average price of $80.00, for a total transaction of $1,248,000.00. Following the completion of the transaction, the vice president now directly owns 68,289 shares of the company’s stock, valued at approximately $5,463,120. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Elizebeth R. Varet sold 2,000 shares of the stock in a transaction that occurred on Thursday, July 26th. The stock was sold at an average price of $76.70, for a total value of $153,400.00. Following the transaction, the director now directly owns 113,810 shares of the company’s stock, valued at $8,729,227. The disclosure for this sale can be found here. Over the last three months, insiders have sold 63,925 shares of company stock valued at $5,118,510. Company insiders own 2.00% of the company’s stock.

Shares of AME stock opened at $78.65 on Monday. The company has a market cap of $18.35 billion, a PE ratio of 30.13, a price-to-earnings-growth ratio of 2.25 and a beta of 1.18. AMETEK, Inc. has a 12-month low of $66.49 and a 12-month high of $81.92. The company has a quick ratio of 1.19, a current ratio of 1.71 and a debt-to-equity ratio of 0.42.

AMETEK (NYSE:AME) last issued its earnings results on Tuesday, July 31st. The technology company reported $0.83 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.78 by $0.05. The business had revenue of $1.21 billion during the quarter, compared to the consensus estimate of $1.19 billion. AMETEK had a return on equity of 16.94% and a net margin of 16.65%. The company’s revenue for the quarter was up 13.6% on a year-over-year basis. During the same period in the prior year, the business posted $0.65 EPS. On average, equities research analysts expect that AMETEK, Inc. will post 3.21 earnings per share for the current year.

The firm also recently announced a quarterly dividend, which was paid on Friday, September 28th. Stockholders of record on Friday, September 14th were paid a dividend of $0.14 per share. This represents a $0.56 dividend on an annualized basis and a dividend yield of 0.71%. The ex-dividend date of this dividend was Thursday, September 13th. AMETEK’s dividend payout ratio (DPR) is 21.46%.

AMETEK Profile

AMETEK, Inc manufactures and sells electronic instruments and electromechanical devices worldwide. Its Electronic Instruments Group segment offers advanced instruments for the process, power and industrial, and aerospace markets; process and analytical instruments for the oil, gas, petrochemical, pharmaceutical, semiconductor, automation, and food and beverage markets; and instruments for the laboratory equipment, ultraprecision manufacturing, medical, and test and measurement markets.

Further Reading: What is Compound Annual Growth Rate (CAGR)?

Institutional Ownership by Quarter for AMETEK (NYSE:AME)

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