Tredje AP fonden lifted its stake in shares of AMETEK, Inc. (NYSE:AME – Free Report) by 101.0% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 32,716 shares of the technology company’s stock after acquiring an additional 16,440 shares during the quarter. Tredje AP fonden’s holdings in AMETEK were worth $6,717,000 at the end of the most recent reporting period.
A number of other hedge funds have also modified their holdings of the stock. Nordea Investment Management AB raised its stake in AMETEK by 825.0% during the 4th quarter. Nordea Investment Management AB now owns 852,585 shares of the technology company’s stock valued at $176,153,000 after purchasing an additional 760,410 shares during the period. Lazard Asset Management LLC grew its holdings in shares of AMETEK by 35.7% during the third quarter. Lazard Asset Management LLC now owns 2,645,977 shares of the technology company’s stock valued at $497,444,000 after buying an additional 695,419 shares in the last quarter. Man Group plc raised its position in AMETEK by 411.8% during the third quarter. Man Group plc now owns 785,020 shares of the technology company’s stock valued at $147,584,000 after buying an additional 631,649 shares during the period. Compagnie Lombard Odier SCmA purchased a new stake in AMETEK in the 3rd quarter worth about $118,311,000. Finally, AQR Capital Management LLC boosted its position in AMETEK by 343.5% during the 2nd quarter. AQR Capital Management LLC now owns 656,112 shares of the technology company’s stock worth $118,349,000 after acquiring an additional 508,164 shares during the period. 87.43% of the stock is currently owned by institutional investors and hedge funds.
AMETEK Trading Down 2.0%
NYSE:AME opened at $221.10 on Wednesday. The company has a market capitalization of $50.68 billion, a P/E ratio of 33.40, a P/E/G ratio of 3.17 and a beta of 1.03. The stock’s 50 day moving average price is $225.04 and its 200 day moving average price is $216.70. The company has a debt-to-equity ratio of 0.10, a quick ratio of 0.72 and a current ratio of 1.14. AMETEK, Inc. has a 52 week low of $174.43 and a 52 week high of $243.18.
AMETEK Announces Dividend
The business also recently announced a quarterly dividend, which will be paid on Tuesday, June 30th. Shareholders of record on Monday, June 15th will be issued a dividend of $0.34 per share. This represents a $1.36 annualized dividend and a yield of 0.6%. The ex-dividend date is Monday, June 15th. AMETEK’s dividend payout ratio (DPR) is 20.54%.
Insider Buying and Selling at AMETEK
In related news, Director Thomas A. Amato sold 530 shares of the business’s stock in a transaction that occurred on Tuesday, March 24th. The stock was sold at an average price of $216.78, for a total value of $114,893.40. Following the completion of the sale, the director directly owned 4,480 shares in the company, valued at approximately $971,174.40. The trade was a 10.58% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 0.54% of the stock is owned by corporate insiders.
Analyst Upgrades and Downgrades
A number of equities analysts have recently weighed in on AME shares. TD Cowen reiterated a “buy” rating on shares of AMETEK in a report on Tuesday, February 3rd. Wall Street Zen downgraded shares of AMETEK from a “buy” rating to a “hold” rating in a research report on Sunday, May 10th. KeyCorp upped their price objective on shares of AMETEK from $235.00 to $260.00 and gave the company an “overweight” rating in a research note on Wednesday, February 4th. Deutsche Bank Aktiengesellschaft began coverage on shares of AMETEK in a research report on Wednesday, January 21st. They issued a “buy” rating and a $271.00 target price for the company. Finally, Morgan Stanley boosted their price target on shares of AMETEK from $215.00 to $235.00 and gave the company an “equal weight” rating in a report on Thursday, March 12th. One research analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and four have assigned a Hold rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $252.33.
Check Out Our Latest Stock Analysis on AMETEK
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.
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