Towarzystwo Funduszy Inwestycyjnych PZU SA trimmed its position in AMETEK, Inc. (NYSE:AME – Free Report) by 93.0% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 295 shares of the technology company’s stock after selling 3,900 shares during the quarter. Towarzystwo Funduszy Inwestycyjnych PZU SA’s holdings in AMETEK were worth $61,000 at the end of the most recent reporting period.
Other hedge funds have also added to or reduced their stakes in the company. Captrust Financial Advisors grew its stake in shares of AMETEK by 3.1% during the third quarter. Captrust Financial Advisors now owns 268,096 shares of the technology company’s stock worth $50,402,000 after buying an additional 8,101 shares during the last quarter. Y.D. More Investments Ltd bought a new stake in shares of AMETEK during the fourth quarter worth $1,653,000. Massachusetts Financial Services Co. MA grew its stake in shares of AMETEK by 10.9% during the fourth quarter. Massachusetts Financial Services Co. MA now owns 959,937 shares of the technology company’s stock worth $197,085,000 after buying an additional 94,544 shares during the last quarter. MAI Capital Management grew its stake in shares of AMETEK by 33.8% during the third quarter. MAI Capital Management now owns 18,403 shares of the technology company’s stock worth $3,460,000 after buying an additional 4,648 shares during the last quarter. Finally, Mitsubishi UFJ Asset Management Co. Ltd. grew its stake in shares of AMETEK by 6.2% during the fourth quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 487,238 shares of the technology company’s stock worth $101,901,000 after buying an additional 28,621 shares during the last quarter. 87.43% of the stock is owned by institutional investors.
AMETEK Price Performance
Shares of NYSE:AME opened at $230.61 on Tuesday. The firm has a market cap of $52.86 billion, a PE ratio of 34.84, a price-to-earnings-growth ratio of 3.19 and a beta of 1.00. The firm’s fifty day moving average is $229.17 and its 200-day moving average is $220.80. 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 company also recently announced a quarterly dividend, which will be paid on Tuesday, June 30th. Investors of record on Monday, June 15th will be paid a dividend of $0.34 per share. This represents a $1.36 dividend on an annualized basis and a yield of 0.6%. The ex-dividend date of this dividend is Monday, June 15th. AMETEK’s dividend payout ratio (DPR) is currently 20.54%.
Wall Street Analysts Forecast Growth
A number of research firms have weighed in on AME. Weiss Ratings cut shares of AMETEK from a “buy (b)” rating to a “buy (b-)” rating in a research note on Thursday. BMO Capital Markets began coverage on shares of AMETEK in a research note on Friday, March 27th. They set an “outperform” rating and a $253.00 target price on the stock. Morgan Stanley boosted their target price on shares of AMETEK from $215.00 to $235.00 and gave the stock an “equal weight” rating in a research note on Thursday, March 12th. Robert W. Baird set a $244.00 target price on shares of AMETEK in a research note on Friday, May 1st. Finally, Truist Financial reaffirmed a “buy” rating and set a $275.00 target price (up from $265.00) on shares of AMETEK in a research note on Monday, May 4th. One research analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and five have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $252.69.
Check Out Our Latest Stock Analysis on AME
Insider Transactions at AMETEK
In related news, Director Thomas A. Amato sold 530 shares of the business’s stock in a transaction on Tuesday, March 24th. The shares were sold at an average price of $216.78, for a total value of $114,893.40. Following the transaction, the director owned 4,480 shares in the company, valued at $971,174.40. The trade was a 10.58% decrease in their ownership of the stock. The transaction 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 insiders.
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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