Jefferies Financial Group Inc. acquired a new position in shares of AMETEK, Inc. (NYSE:AME – Free Report) during the second quarter, according to the company in its most recent disclosure with the SEC. The firm acquired 125,512 shares of the technology company’s stock, valued at approximately $30,366,000. Jefferies Financial Group Inc. owned 0.05% of AMETEK at the end of the most recent reporting period.
Other hedge funds have also recently added to or reduced their stakes in the company. Florida Financial Advisors LLC increased its holdings in AMETEK by 2.2% in the fourth quarter. Florida Financial Advisors LLC now owns 1,974 shares of the technology company’s stock valued at $406,000 after buying an additional 43 shares in the last quarter. Plato Investment Management Ltd grew its position in shares of AMETEK by 0.4% during the 4th quarter. Plato Investment Management Ltd now owns 10,751 shares of the technology company’s stock valued at $2,218,000 after acquiring an additional 47 shares during the period. Allegiance Financial Group Advisory Services LLC increased its stake in shares of AMETEK by 4.0% in the 4th quarter. Allegiance Financial Group Advisory Services LLC now owns 1,254 shares of the technology company’s stock valued at $257,000 after purchasing an additional 48 shares in the last quarter. Washington Trust Advisors Inc. increased its stake in shares of AMETEK by 6.2% in the 4th quarter. Washington Trust Advisors Inc. now owns 850 shares of the technology company’s stock valued at $175,000 after purchasing an additional 50 shares in the last quarter. Finally, Root Financial Partners LLC raised its holdings in AMETEK by 18.3% in the 1st quarter. Root Financial Partners LLC now owns 323 shares of the technology company’s stock worth $69,000 after purchasing an additional 50 shares during the period. 87.43% of the stock is owned by hedge funds and other institutional investors.
AMETEK Trading Down 0.8%
Shares of AME opened at $243.18 on Friday. AMETEK, Inc. has a 52-week low of $179.24 and a 52-week high of $261.16. The stock has a market cap of $55.74 billion, a PE ratio of 35.55, a price-to-earnings-growth ratio of 3.13 and a beta of 0.98. The firm’s fifty day moving average is $241.74 and its two-hundred day moving average is $232.39. The company has a quick ratio of 0.76, a current ratio of 1.21 and a debt-to-equity ratio of 0.09.
AMETEK Dividend Announcement
The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 30th. Investors of record on Tuesday, September 15th will be issued a $0.34 dividend. The ex-dividend date of this dividend is Tuesday, September 15th. This represents a $1.36 dividend on an annualized basis and a dividend yield of 0.6%. AMETEK’s dividend payout ratio is currently 19.88%.
Analyst Upgrades and Downgrades
AME has been the topic of several research analyst reports. Wall Street Zen lowered AMETEK from a “buy” rating to a “hold” rating in a report on Sunday, May 10th. Mizuho set a $270.00 target price on AMETEK in a research report on Friday, May 1st. KeyCorp lifted their price target on shares of AMETEK from $260.00 to $295.00 and gave the company an “overweight” rating in a research note on Wednesday, August 5th. Seaport Research Partners restated a “buy” rating and set a $290.00 price objective on shares of AMETEK in a research report on Wednesday, August 5th. Finally, Weiss Ratings raised shares of AMETEK from a “buy (b-)” rating to a “buy (b)” rating in a report on Tuesday, August 11th. One research analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating and five have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $266.80.
View Our Latest Report on AMETEK
Insider Buying and Selling at AMETEK
In other news, insider David F. Hermance sold 6,608 shares of the firm’s stock in a transaction that occurred on Friday, August 7th. The shares were sold at an average price of $254.00, for a total transaction of $1,678,432.00. Following the completion of the sale, the insider owned 42,509 shares in the company, valued at $10,797,286. This trade represents a 13.45% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.54% of the stock is currently owned by company insiders.
AMETEK Profile
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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