D.A. Davidson & CO. purchased a new stake in AMETEK, Inc. (NYSE:AME) in the 3rd quarter, according to its most recent disclosure with the SEC. The fund purchased 2,577 shares of the technology company’s stock, valued at approximately $204,000.
Several other hedge funds and other institutional investors have also bought and sold shares of AME. BB&T Securities LLC boosted its stake in AMETEK by 10.9% during the 2nd quarter. BB&T Securities LLC now owns 7,908 shares of the technology company’s stock valued at $570,000 after purchasing an additional 779 shares during the period. Riverhead Capital Management LLC boosted its stake in AMETEK by 9.9% during the 2nd quarter. Riverhead Capital Management LLC now owns 9,293 shares of the technology company’s stock valued at $670,000 after purchasing an additional 836 shares during the period. Intrust Bank NA boosted its stake in AMETEK by 10.8% during the 2nd quarter. Intrust Bank NA now owns 8,994 shares of the technology company’s stock valued at $649,000 after purchasing an additional 880 shares during the period. Neuburgh Advisers LLC boosted its stake in AMETEK by 12.1% during the 2nd quarter. Neuburgh Advisers LLC now owns 8,162 shares of the technology company’s stock valued at $589,000 after purchasing an additional 880 shares during the period. Finally, King Luther Capital Management Corp boosted its stake in AMETEK by 2.5% during the 2nd quarter. King Luther Capital Management Corp now owns 36,933 shares of the technology company’s stock valued at $2,665,000 after purchasing an additional 905 shares during the period. 84.63% of the stock is owned by institutional investors and hedge funds.
Shares of NYSE:AME opened at $70.85 on Friday. The company has a market capitalization of $16.59 billion, a PE ratio of 22.84, a P/E/G ratio of 1.96 and a beta of 1.32. AMETEK, Inc. has a twelve month low of $64.91 and a twelve month high of $81.92. The company has a quick ratio of 1.42, a current ratio of 2.06 and a debt-to-equity ratio of 0.41.
AMETEK (NYSE:AME) last issued its quarterly earnings results on Thursday, November 1st. The technology company reported $0.82 earnings per share for the quarter, topping analysts’ consensus estimates of $0.78 by $0.04. The company had revenue of $1.19 billion during the quarter, compared to analyst estimates of $1.18 billion. AMETEK had a net margin of 17.06% and a return on equity of 17.08%. The business’s revenue for the quarter was up 10.0% compared to the same quarter last year. During the same period in the prior year, the business posted $0.66 EPS. Equities analysts forecast that AMETEK, Inc. will post 3.27 earnings per share for the current year.
The business also recently declared a quarterly dividend, which will be paid on Friday, December 21st. Stockholders of record on Friday, December 7th will be paid a $0.14 dividend. This represents a $0.56 dividend on an annualized basis and a dividend yield of 0.79%. The ex-dividend date of this dividend is Thursday, December 6th. AMETEK’s dividend payout ratio is currently 21.46%.
In related news, insider John Wesley Hardin sold 29,955 shares of the business’s stock in a transaction that occurred on Wednesday, September 19th. The shares were sold at an average price of $81.55, for a total value of $2,442,830.25. Following the sale, the insider now directly owns 70,016 shares in the company, valued at approximately $5,709,804.80. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Gretchen W. Mcclain sold 3,870 shares of the business’s stock in a transaction that occurred on Thursday, September 13th. The stock was sold at an average price of $80.00, for a total transaction of $309,600.00. Following the completion of the sale, the director now owns 8,018 shares in the company, valued at $641,440. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 49,425 shares of company stock valued at $4,000,430. Company insiders own 2.10% of the company’s stock.
A number of research analysts have issued reports on the stock. Cowen reissued a “buy” rating and set a $85.00 target price on shares of AMETEK in a research note on Sunday, August 12th. Stephens assumed coverage on shares of AMETEK in a research note on Monday, November 19th. They set an “overweight” rating and a $87.00 target price for the company. ValuEngine lowered shares of AMETEK from a “buy” rating to a “hold” rating in a research note on Tuesday, October 23rd. BMO Capital Markets reduced their target price on shares of AMETEK from $93.00 to $91.00 and set an “outperform” rating for the company in a research note on Friday, November 2nd. Finally, Robert W. Baird upped their price target on shares of AMETEK from $82.00 to $84.00 and gave the stock an “outperform” rating in a research note on Friday, November 2nd. Two analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. AMETEK currently has an average rating of “Buy” and a consensus price target of $87.00.
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AMETEK Company 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.
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