Citizens Financial Group Inc RI cut its holdings in shares of AMETEK, Inc. (NYSE:AME) by 32.0% in the fourth quarter, HoldingsChannel.com reports. The firm owned 3,533 shares of the technology company’s stock after selling 1,665 shares during the quarter. Citizens Financial Group Inc RI’s holdings in AMETEK were worth $256,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors have also added to or reduced their stakes in the company. BlackRock Inc. lifted its stake in AMETEK by 6.2% during the 4th quarter. BlackRock Inc. now owns 15,074,188 shares of the technology company’s stock worth $1,092,426,000 after acquiring an additional 886,625 shares in the last quarter. Boston Partners lifted its stake in AMETEK by 21.7% during the 3rd quarter. Boston Partners now owns 5,233,468 shares of the technology company’s stock worth $345,618,000 after acquiring an additional 932,008 shares in the last quarter. American Century Companies Inc. lifted its stake in AMETEK by 42.5% during the 4th quarter. American Century Companies Inc. now owns 4,067,798 shares of the technology company’s stock worth $294,793,000 after acquiring an additional 1,214,153 shares in the last quarter. Westfield Capital Management Co. LP lifted its stake in AMETEK by 9.4% during the 3rd quarter. Westfield Capital Management Co. LP now owns 2,843,212 shares of the technology company’s stock worth $187,766,000 after acquiring an additional 244,892 shares in the last quarter. Finally, Mawer Investment Management Ltd. lifted its stake in AMETEK by 3.4% during the 3rd quarter. Mawer Investment Management Ltd. now owns 2,636,050 shares of the technology company’s stock worth $174,067,000 after acquiring an additional 87,009 shares in the last quarter. Institutional investors and hedge funds own 85.25% of the company’s stock.
Shares of AMETEK, Inc. (AME) opened at $76.55 on Tuesday. The company has a debt-to-equity ratio of 0.46, a current ratio of 1.70 and a quick ratio of 1.22. The stock has a market capitalization of $17,692.02, a PE ratio of 29.33, a price-to-earnings-growth ratio of 2.19 and a beta of 1.32. AMETEK, Inc. has a 12-month low of $52.42 and a 12-month high of $78.51.
AMETEK (NYSE:AME) last posted its quarterly earnings results on Thursday, February 1st. The technology company reported $0.70 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.67 by $0.03. The company had revenue of $1.14 billion for the quarter, compared to analyst estimates of $1.09 billion. AMETEK had a return on equity of 16.39% and a net margin of 15.85%. AMETEK’s revenue for the quarter was up 17.5% compared to the same quarter last year. During the same quarter last year, the company earned $0.58 EPS. equities research analysts expect that AMETEK, Inc. will post 3.04 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Thursday, March 29th. Shareholders of record on Friday, March 16th will be given a $0.14 dividend. The ex-dividend date of this dividend is Thursday, March 15th. This represents a $0.56 dividend on an annualized basis and a yield of 0.73%. This is a positive change from AMETEK’s previous quarterly dividend of $0.09. AMETEK’s dividend payout ratio (DPR) is currently 12.24%.
Several equities analysts recently issued reports on the company. KeyCorp reissued a “buy” rating and set a $82.00 target price on shares of AMETEK in a research note on Friday, January 19th. Zacks Investment Research raised AMETEK from a “hold” rating to a “buy” rating and set a $76.00 target price on the stock in a research note on Monday, November 13th. Robert W. Baird increased their target price on AMETEK from $70.00 to $77.00 and gave the stock an “outperform” rating in a research note on Friday, November 3rd. Oppenheimer reissued a “buy” rating and set a $75.00 target price on shares of AMETEK in a research note on Thursday, December 21st. Finally, BMO Capital Markets reissued a “buy” rating and set a $80.00 target price on shares of AMETEK in a research note on Monday, December 11th. One research analyst has rated the stock with a hold rating and eleven have assigned a buy rating to the company. AMETEK has a consensus rating of “Buy” and an average target price of $81.64.
In other AMETEK news, Director Elizebeth R. Varet sold 3,000 shares of the stock in a transaction dated Thursday, February 15th. The stock was sold at an average price of $75.85, for a total value of $227,550.00. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, VP William D. Eginton sold 16,368 shares of the stock in a transaction dated Monday, February 5th. The shares were sold at an average price of $77.00, for a total value of $1,260,336.00. Following the completion of the sale, the vice president now directly owns 59,054 shares in the company, valued at approximately $4,547,158. The disclosure for this sale can be found here. Insiders sold a total of 69,654 shares of company stock worth $5,165,985 in the last ninety days. 2.10% of the stock is owned by corporate insiders.
AMETEK, Inc is a manufacturer of electronic instruments and electromechanical devices with operations in North America, Europe, Asia and South America. The Company operates through two segments: Electronic Instruments (EIG) and Electromechanical (EMG). EIG designs and manufactures instruments for the process, power and industrial and aerospace markets.
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