Pictet Asset Management Ltd. lifted its stake in AMETEK, Inc. (NYSE:AME) by 1.5% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 125,645 shares of the technology company’s stock after buying an additional 1,900 shares during the period. Pictet Asset Management Ltd. owned approximately 0.05% of AMETEK worth $9,941,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors also recently bought and sold shares of the company. Piedmont Investment Advisors LLC bought a new stake in shares of AMETEK during the 2nd quarter valued at $195,000. Chevy Chase Trust Holdings Inc. lifted its position in shares of AMETEK by 3.1% during the 2nd quarter. Chevy Chase Trust Holdings Inc. now owns 203,148 shares of the technology company’s stock valued at $14,659,000 after acquiring an additional 6,062 shares during the period. Kornitzer Capital Management Inc. KS lifted its position in shares of AMETEK by 3.0% during the 2nd quarter. Kornitzer Capital Management Inc. KS now owns 52,471 shares of the technology company’s stock valued at $3,786,000 after acquiring an additional 1,506 shares during the period. Alps Advisors Inc. bought a new stake in shares of AMETEK during the 2nd quarter valued at $214,000. Finally, Virginia Retirement Systems ET AL lifted its position in shares of AMETEK by 9.1% during the 2nd quarter. Virginia Retirement Systems ET AL now owns 187,800 shares of the technology company’s stock valued at $13,552,000 after acquiring an additional 15,700 shares during the period. 84.63% of the stock is currently owned by hedge funds and other institutional investors.
Shares of AME stock opened at $70.85 on Friday. The company has a quick ratio of 1.42, a current ratio of 2.06 and a debt-to-equity ratio of 0.41. AMETEK, Inc. has a twelve month low of $64.91 and a twelve month high of $81.92. The firm has a market cap of $16.59 billion, a P/E ratio of 27.15, a price-to-earnings-growth ratio of 1.96 and a beta of 1.32.
AMETEK (NYSE:AME) last announced its quarterly earnings data on Thursday, November 1st. The technology company reported $0.82 earnings per share for the quarter, topping the consensus estimate of $0.78 by $0.04. AMETEK had a return on equity of 17.08% and a net margin of 17.06%. The business had revenue of $1.19 billion during the quarter, compared to the consensus estimate of $1.18 billion. During the same period in the prior year, the company earned $0.66 EPS. AMETEK’s revenue for the quarter was up 10.0% on a year-over-year basis. On average, research analysts expect that AMETEK, Inc. will post 3.27 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 21st. Investors of record on Friday, December 7th will be given a dividend of $0.14 per share. The ex-dividend date is Thursday, December 6th. This represents a $0.56 annualized dividend and a dividend yield of 0.79%. AMETEK’s dividend payout ratio is currently 21.46%.
A number of analysts have recently weighed in on AME shares. Cowen reiterated a “buy” rating and set a $85.00 target price on shares of AMETEK in a research report on Sunday, August 12th. ValuEngine downgraded AMETEK from a “buy” rating to a “hold” rating in a research report on Tuesday, October 23rd. BMO Capital Markets cut their target price on AMETEK from $93.00 to $91.00 and set an “outperform” rating for the company in a research report on Friday, November 2nd. Robert W. Baird upped their price objective on AMETEK from $82.00 to $84.00 and gave the stock an “outperform” rating in a research report on Friday, November 2nd. Finally, Morgan Stanley dropped their price objective on AMETEK from $84.00 to $81.00 and set an “equal weight” rating for the company in a research report on Monday, November 5th. Two research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. AMETEK has an average rating of “Buy” and a consensus target price of $87.00.
In other AMETEK news, Director Gretchen W. Mcclain sold 3,870 shares of the stock in a transaction dated Thursday, September 13th. The stock was sold at an average price of $80.00, for a total value of $309,600.00. Following the completion of the transaction, the director now directly owns 8,018 shares in the company, valued at $641,440. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Thomas A. Amato bought 2,000 shares of the company’s stock in a transaction on Monday, November 12th. The stock was purchased at an average price of $73.14 per share, with a total value of $146,280.00. Following the completion of the transaction, the director now directly owns 7,510 shares of the company’s stock, valued at approximately $549,281.40. The disclosure for this purchase can be found here. Over the last 90 days, insiders have sold 49,425 shares of company stock valued at $4,000,430. 2.10% of the stock is owned by corporate insiders.
AMETEK Company Profile
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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