Millennium Management LLC increased its position in shares of AMETEK, Inc. (NYSE:AME) by 154.3% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 782,344 shares of the technology company’s stock after purchasing an additional 474,712 shares during the quarter. Millennium Management LLC owned 0.34% of AMETEK worth $56,696,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors also recently modified their holdings of the company. Acropolis Investment Management LLC acquired a new stake in AMETEK in the fourth quarter worth $108,000. Zions Bancorporation acquired a new stake in AMETEK in the third quarter worth $150,000. BB&T Investment Services Inc. increased its position in AMETEK by 42.6% in the third quarter. BB&T Investment Services Inc. now owns 2,633 shares of the technology company’s stock worth $179,000 after buying an additional 786 shares during the period. 180 Wealth Advisors LLC acquired a new stake in AMETEK in the fourth quarter worth $200,000. Finally, Catawba Capital Management VA acquired a new stake in AMETEK in the fourth quarter worth $208,000. 85.80% of the stock is currently owned by hedge funds and other institutional investors.
Several brokerages have weighed in on AME. ValuEngine raised AMETEK from a “hold” rating to a “buy” rating in a research report on Thursday, March 1st. BMO Capital Markets reaffirmed a “buy” rating and issued a $88.00 target price on shares of AMETEK in a research report on Friday, January 26th. Zacks Investment Research lowered AMETEK from a “buy” rating to a “hold” rating in a research report on Wednesday, January 3rd. Wells Fargo set a $88.00 target price on AMETEK and gave the stock a “buy” rating in a research report on Thursday, January 18th. Finally, KeyCorp increased their target price on AMETEK from $82.00 to $86.00 and gave the stock an “overweight” rating in a research report on Friday, February 2nd. One research analyst has rated the stock with a hold rating and twelve have given a buy rating to the company. The company has an average rating of “Buy” and a consensus price target of $81.64.
In other news, Director Elizebeth R. Varet sold 3,000 shares of the firm’s stock in a transaction on Thursday, March 15th. The stock was sold at an average price of $78.03, for a total transaction of $234,090.00. Following the transaction, the director now directly owns 111,880 shares of the company’s stock, valued at $8,729,996.40. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, VP William D. Eginton sold 16,368 shares of the firm’s stock in a transaction on 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 transaction, the vice president now directly owns 59,054 shares in the company, valued at $4,547,158. The disclosure for this sale can be found here. Insiders have sold 77,604 shares of company stock worth $5,976,638 over the last three months. Corporate insiders own 2.10% of the company’s stock.
AMETEK, Inc. (AME) opened at $77.87 on Tuesday. The company has a market capitalization of $18,201.41, a price-to-earnings ratio of 26.49, a PEG ratio of 2.24 and a beta of 1.27. The company has a current ratio of 1.70, a quick ratio of 1.22 and a debt-to-equity ratio of 0.46. AMETEK, Inc. has a fifty-two week low of $52.42 and a fifty-two week high of $79.32.
AMETEK (NYSE:AME) last issued its quarterly earnings results on Thursday, February 1st. The technology company reported $0.70 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%. The company’s quarterly revenue was up 17.5% compared to the same quarter last year. During the same period last year, the company earned $0.58 earnings per share. sell-side analysts predict that AMETEK, Inc. will post 3.05 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Thursday, March 29th. Stockholders of record on Friday, March 16th will be issued a dividend of $0.14 per share. This represents a $0.56 dividend on an annualized basis and a dividend yield of 0.72%. This is a positive change from AMETEK’s previous quarterly dividend of $0.09. The ex-dividend date of this dividend is Thursday, March 15th. AMETEK’s dividend payout ratio (DPR) is 19.05%.
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AMETEK, Inc manufactures and sells electronic instruments and electromechanical devices worldwide. Its Electronic Instruments Group segment offers advanced instruments for the process, power and industrial, and aerospace markets; process and analytical instruments for the oil, gas, petrochemical, pharmaceutical, semiconductor, automation, and food and beverage markets; and instruments for the laboratory equipment, ultraprecision manufacturing, medical, and test and measurement markets.
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