First Merchants Corp increased its stake in shares of AMETEK, Inc. (NYSE:AME – Free Report) by 23.0% during the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 38,266 shares of the technology company’s stock after acquiring an additional 7,147 shares during the period. First Merchants Corp’s holdings in AMETEK were worth $7,856,000 as of its most recent filing with the SEC.
Several other large investors have also recently bought and sold shares of the stock. Parallel Advisors LLC grew its stake in AMETEK by 2.0% in the third quarter. Parallel Advisors LLC now owns 2,766 shares of the technology company’s stock valued at $520,000 after purchasing an additional 53 shares in the last quarter. Biltmore Wealth Management LLC grew its stake in shares of AMETEK by 1.1% in the third quarter. Biltmore Wealth Management LLC now owns 4,771 shares of the technology company’s stock valued at $897,000 after buying an additional 54 shares in the last quarter. Brooklyn Investment Group increased its holdings in AMETEK by 3.2% during the third quarter. Brooklyn Investment Group now owns 1,735 shares of the technology company’s stock worth $326,000 after buying an additional 54 shares during the last quarter. Cim LLC increased its holdings in AMETEK by 0.7% during the third quarter. Cim LLC now owns 7,645 shares of the technology company’s stock worth $1,437,000 after buying an additional 56 shares during the last quarter. Finally, HighPoint Advisor Group LLC raised its position in AMETEK by 3.0% during the third quarter. HighPoint Advisor Group LLC now owns 2,070 shares of the technology company’s stock worth $389,000 after acquiring an additional 60 shares in the last quarter. 87.43% of the stock is owned by institutional investors and hedge funds.
AMETEK Stock Performance
Shares of NYSE AME opened at $215.60 on Thursday. The company has a debt-to-equity ratio of 0.10, a current ratio of 1.06 and a quick ratio of 0.67. The stock’s fifty day moving average price is $225.15 and its two-hundred day moving average price is $205.67. AMETEK, Inc. has a one year low of $145.02 and a one year high of $242.05. The firm has a market cap of $49.39 billion, a price-to-earnings ratio of 33.69, a P/E/G ratio of 3.10 and a beta of 1.02.
AMETEK Increases Dividend
The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 31st. Shareholders of record on Monday, March 16th will be paid a $0.34 dividend. This is a positive change from AMETEK’s previous quarterly dividend of $0.31. The ex-dividend date is Monday, March 16th. This represents a $1.36 annualized dividend and a yield of 0.6%. AMETEK’s dividend payout ratio is presently 21.25%.
Wall Street Analyst Weigh In
Several research analysts have recently weighed in on AME shares. Weiss Ratings restated a “buy (b)” rating on shares of AMETEK in a research note on Wednesday, January 21st. Deutsche Bank Aktiengesellschaft began coverage on AMETEK in a research note on Wednesday, January 21st. They issued a “buy” rating and a $271.00 price objective on the stock. Oppenheimer downgraded AMETEK from an “outperform” rating to a “market perform” rating in a research note on Tuesday, January 27th. Wall Street Zen upgraded shares of AMETEK from a “hold” rating to a “buy” rating in a research note on Sunday, February 22nd. Finally, Royal Bank Of Canada reiterated an “outperform” rating and issued a $257.00 price target on shares of AMETEK in a research note on Wednesday, February 4th. One equities research analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and four have given a Hold rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $244.82.
Get Our Latest Report on AMETEK
Insider Transactions at AMETEK
In other AMETEK news, Director Thomas A. Amato sold 530 shares of the business’s stock in a transaction dated Tuesday, March 24th. The shares were sold at an average price of $216.78, for a total value of $114,893.40. Following the completion of the sale, the director owned 4,480 shares of the company’s stock, valued at $971,174.40. The trade was a 10.58% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. 0.54% of the stock is owned by corporate insiders.
About AMETEK
AMETEK, Inc is a global manufacturer of electronic instruments and electromechanical devices that serves a broad range of industries. Headquartered in Berwyn, Pennsylvania, the company designs and produces precision instruments, electronic measurement devices, specialty sensors, and electric motors and motion control systems. Its product portfolio includes analytical and monitoring instruments, calibration equipment, power supplies, embedded electronics, and industrial motors and drives used for critical applications.
The company operates through two primary business platforms — an electronic instruments group focused on analytical, test and measurement and sensor products, and an electromechanical group that supplies motors, actuators, and related power and motion solutions.
See Also
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