Janney Montgomery Scott LLC increased its position in shares of AMETEK, Inc. (NYSE:AME) by 12.0% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 46,935 shares of the technology company’s stock after purchasing an additional 5,022 shares during the period. Janney Montgomery Scott LLC’s holdings in AMETEK were worth $4,264,000 at the end of the most recent reporting period.
Several other hedge funds have also recently made changes to their positions in AME. JPMorgan Chase & Co. raised its position in shares of AMETEK by 24.8% during the 1st quarter. JPMorgan Chase & Co. now owns 4,147,050 shares of the technology company’s stock valued at $344,081,000 after purchasing an additional 823,704 shares during the period. Argent Capital Management LLC bought a new stake in shares of AMETEK during the 1st quarter valued at $49,936,000. Marshall Wace North America L.P. raised its position in shares of AMETEK by 332.0% during the 1st quarter. Marshall Wace North America L.P. now owns 437,986 shares of the technology company’s stock valued at $36,340,000 after purchasing an additional 336,593 shares during the period. Pictet Asset Management Ltd. raised its position in shares of AMETEK by 271.9% during the 1st quarter. Pictet Asset Management Ltd. now owns 448,710 shares of the technology company’s stock valued at $37,229,000 after purchasing an additional 328,065 shares during the period. Finally, The Manufacturers Life Insurance Company raised its position in shares of AMETEK by 23.0% during the 1st quarter. The Manufacturers Life Insurance Company now owns 1,495,007 shares of the technology company’s stock valued at $124,041,000 after purchasing an additional 279,644 shares during the period. Hedge funds and other institutional investors own 85.37% of the company’s stock.
In other news, VP Thomas M. Montgomery sold 5,602 shares of the business’s stock in a transaction dated Thursday, June 27th. The shares were sold at an average price of $88.50, for a total value of $495,777.00. Following the sale, the vice president now directly owns 26,419 shares in the company, valued at approximately $2,338,081.50. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Anthony James Conti sold 1,570 shares of the business’s stock in a transaction dated Thursday, June 20th. The stock was sold at an average price of $87.79, for a total transaction of $137,830.30. Following the completion of the sale, the director now owns 17,198 shares in the company, valued at $1,509,812.42. The disclosure for this sale can be found here. Over the last quarter, insiders sold 90,010 shares of company stock worth $7,786,522. 0.80% of the stock is currently owned by insiders.
NYSE AME traded down $1.56 on Wednesday, reaching $84.53. The company had a trading volume of 4,764 shares, compared to its average volume of 1,207,796. The company has a debt-to-equity ratio of 0.51, a current ratio of 2.17 and a quick ratio of 1.53. The stock has a market cap of $19.48 billion, a PE ratio of 25.63, a PEG ratio of 2.20 and a beta of 1.22. The stock’s 50 day moving average is $88.98. AMETEK, Inc. has a 12 month low of $63.14 and a 12 month high of $92.30.
AMETEK (NYSE:AME) last announced its quarterly earnings results on Tuesday, July 30th. The technology company reported $1.05 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.03 by $0.02. The company had revenue of $1.29 billion for the quarter, compared to the consensus estimate of $1.32 billion. AMETEK had a net margin of 16.32% and a return on equity of 19.27%. AMETEK’s revenue for the quarter was up 6.7% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.83 EPS. Equities research analysts expect that AMETEK, Inc. will post 4.1 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Monday, September 30th. Shareholders of record on Monday, September 16th will be issued a $0.14 dividend. The ex-dividend date is Friday, September 13th. This represents a $0.56 dividend on an annualized basis and a yield of 0.66%. AMETEK’s dividend payout ratio is currently 17.02%.
Several brokerages have recently commented on AME. Royal Bank of Canada set a $95.00 price objective on shares of AMETEK and gave the company a “buy” rating in a research report on Wednesday, July 31st. Zacks Investment Research upgraded shares of AMETEK from a “hold” rating to a “buy” rating and set a $90.00 price objective on the stock in a research report on Thursday, June 13th. Morgan Stanley raised their price objective on shares of AMETEK from $95.00 to $97.00 and gave the company an “overweight” rating in a research report on Wednesday, July 31st. ValuEngine downgraded shares of AMETEK from a “buy” rating to a “hold” rating in a research report on Thursday, August 1st. Finally, Vertical Research restated a “buy” rating on shares of AMETEK in a research report on Friday, May 3rd. One research analyst has rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. The company presently has an average rating of “Buy” and a consensus price target of $94.36.
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.
Featured Story: Beta
Want to see what other hedge funds are holding AME? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for AMETEK, Inc. (NYSE:AME).
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.