Pacer Advisors Inc. raised its stake in shares of AMETEK, Inc. (NYSE:AME) by 9.8% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 25,098 shares of the technology company’s stock after purchasing an additional 2,249 shares during the period. Pacer Advisors Inc.’s holdings in AMETEK were worth $2,304,000 as of its most recent SEC filing.
A number of other hedge funds also recently made changes to their positions in AME. NumerixS Investment Technologies Inc acquired a new position in AMETEK during the second quarter valued at approximately $27,000. Capital Bank & Trust Co acquired a new position in AMETEK during the second quarter valued at approximately $29,000. Berman Capital Advisors LLC grew its holdings in AMETEK by 51.3% during the second quarter. Berman Capital Advisors LLC now owns 454 shares of the technology company’s stock valued at $41,000 after purchasing an additional 154 shares during the last quarter. Ibex Wealth Advisors acquired a new position in AMETEK during the second quarter valued at approximately $52,000. Finally, Legacy Advisors LLC acquired a new position in AMETEK during the second quarter valued at approximately $55,000. Institutional investors own 86.16% of the company’s stock.
Several equities research analysts have recently issued reports on AME shares. Royal Bank of Canada set a $95.00 price objective on shares of AMETEK and gave the stock a “buy” rating in a research note on Wednesday, July 31st. Bank of America downgraded shares of AMETEK from a “buy” rating to a “neutral” rating and lowered their price objective for the stock from $105.00 to $95.00 in a research note on Friday. Morgan Stanley raised their price objective on shares of AMETEK from $95.00 to $97.00 and gave the stock an “overweight” rating in a research note on Wednesday, July 31st. KeyCorp raised their price objective on shares of AMETEK from $94.00 to $100.00 in a research note on Wednesday, July 31st. Finally, ValuEngine downgraded shares of AMETEK from a “buy” rating to a “hold” rating in a research note on Thursday, August 1st. Two investment analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. AMETEK currently has a consensus rating of “Buy” and an average target price of $94.42.
In related news, Director Elizebeth R. Varet sold 4,000 shares of the firm’s stock in a transaction on Thursday, August 29th. The stock was sold at an average price of $85.69, for a total value of $342,760.00. Following the completion of the transaction, the director now directly owns 95,670 shares of the company’s stock, valued at $8,197,962.30. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 0.80% of the stock is owned by company insiders.
Shares of AMETEK stock opened at $88.36 on Tuesday. The company’s fifty day simple moving average is $88.26 and its 200-day simple moving average is $86.97. The company has a market cap of $20.21 billion, a price-to-earnings ratio of 23.73, a PEG ratio of 1.97 and a beta of 1.21. The company has a current ratio of 2.17, a quick ratio of 1.53 and a debt-to-equity ratio of 0.51. AMETEK, Inc. has a 1 year low of $63.14 and a 1 year high of $92.86.
AMETEK (NYSE:AME) last announced its quarterly earnings data on Tuesday, July 30th. The technology company reported $1.05 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.03 by $0.02. The business 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 quarterly revenue was up 6.7% on a year-over-year basis. During the same quarter last year, the company posted $0.83 earnings per share. As a group, research analysts forecast that AMETEK, Inc. will post 4.1 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which was paid on Monday, September 30th. Investors of record on Monday, September 16th were given a $0.14 dividend. The ex-dividend date was Friday, September 13th. This represents a $0.56 annualized dividend and a yield of 0.63%. AMETEK’s dividend payout ratio (DPR) is currently 17.02%.
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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