Man Group plc trimmed its position in AMETEK, Inc. (NYSE:AME) by 12.7% during the 3rd quarter, Holdings Channel reports. The institutional investor owned 54,415 shares of the technology company’s stock after selling 7,893 shares during the period. Man Group plc’s holdings in AMETEK were worth $4,996,000 at the end of the most recent quarter.
A number of other large investors have also recently bought and sold shares of AME. Vanguard Group Inc. increased its holdings in AMETEK by 1.7% during the 2nd quarter. Vanguard Group Inc. now owns 24,128,928 shares of the technology company’s stock valued at $2,191,872,000 after purchasing an additional 396,995 shares during the period. BlackRock Inc. lifted its stake in AMETEK by 1.3% in the second quarter. BlackRock Inc. now owns 15,418,675 shares of the technology company’s stock worth $1,400,633,000 after acquiring an additional 204,374 shares during the period. Massachusetts Financial Services Co. MA lifted its stake in AMETEK by 1.2% in the third quarter. Massachusetts Financial Services Co. MA now owns 6,610,756 shares of the technology company’s stock worth $607,001,000 after acquiring an additional 76,480 shares during the period. JPMorgan Chase & Co. lifted its stake in AMETEK by 18.1% in the second quarter. JPMorgan Chase & Co. now owns 4,896,915 shares of the technology company’s stock worth $432,202,000 after acquiring an additional 749,865 shares during the period. Finally, Mawer Investment Management Ltd. boosted its holdings in AMETEK by 8.4% in the second quarter. Mawer Investment Management Ltd. now owns 3,234,280 shares of the technology company’s stock valued at $293,710,000 after acquiring an additional 251,218 shares in the last quarter. Institutional investors own 85.97% of the company’s stock.
In related news, insider Thomas C. Marecic sold 13,990 shares of the company’s stock in a transaction that occurred on Monday, November 4th. The stock was sold at an average price of $95.02, for a total value of $1,329,329.80. Following the sale, the insider now owns 36,014 shares in the company, valued at approximately $3,422,050.28. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Gretchen W. Mcclain sold 1,060 shares of the company’s stock in a transaction that occurred on Monday, December 2nd. The stock was sold at an average price of $98.43, for a total value of $104,335.80. Following the completion of the sale, the director now owns 9,901 shares in the company, valued at approximately $974,555.43. The disclosure for this sale can be found here. Over the last three months, insiders have sold 50,130 shares of company stock valued at $4,850,238. 0.80% of the stock is currently owned by corporate insiders.
A number of research analysts have issued reports on AME shares. Gordon Haskett assumed coverage on shares of AMETEK in a research report on Wednesday, November 27th. They set a “buy” rating and a $125.00 price objective on the stock. Bank of America cut shares of AMETEK from a “buy” rating to a “neutral” rating and dropped their target price for the stock from $105.00 to $95.00 in a research report on Friday, October 11th. Morgan Stanley set a $102.00 target price on shares of AMETEK and gave the company a “buy” rating in a research note on Friday, November 1st. ValuEngine upgraded shares of AMETEK from a “sell” rating to a “hold” rating in a research report on Friday, November 1st. Finally, Rosenblatt Securities began coverage on shares of AMETEK in a research note on Thursday, November 7th. They issued a “buy” rating and a $115.00 price target for the company. Two analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. The company presently has a consensus rating of “Buy” and a consensus target price of $100.29.
AME opened at $98.55 on Monday. The company has a current ratio of 2.05, a quick ratio of 1.48 and a debt-to-equity ratio of 0.46. The company has a market cap of $22.53 billion, a price-to-earnings ratio of 24.82, a price-to-earnings-growth ratio of 2.18 and a beta of 1.23. The stock has a fifty day simple moving average of $95.03 and a two-hundred day simple moving average of $89.40. AMETEK, Inc. has a 12-month low of $63.14 and a 12-month high of $99.74.
AMETEK (NYSE:AME) last announced its earnings results on Thursday, October 31st. The technology company reported $1.06 EPS for the quarter, beating the Zacks’ consensus estimate of $1.01 by $0.05. The firm had revenue of $1.28 billion for the quarter, compared to analysts’ expectations of $1.28 billion. AMETEK had a net margin of 16.63% and a return on equity of 20.04%. The company’s quarterly revenue was up 7.0% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.91 EPS. On average, analysts predict that AMETEK, Inc. will post 4.14 EPS for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, December 20th. Investors of record on Friday, December 6th will be given a dividend of $0.14 per share. The ex-dividend date of this dividend is Thursday, December 5th. This represents a $0.56 dividend on an annualized basis and a yield of 0.57%. AMETEK’s dividend payout ratio (DPR) is currently 17.02%.
AMETEK Company Profile
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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