Kornitzer Capital Management Inc. KS trimmed its holdings in shares of AMETEK, Inc. (NYSE:AME – Free Report) by 24.8% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 47,575 shares of the technology company’s stock after selling 15,700 shares during the quarter. Kornitzer Capital Management Inc. KS’s holdings in AMETEK were worth $10,198,000 at the end of the most recent reporting period.
A number of other large investors have also recently made changes to their positions in AME. CoreCap Advisors LLC increased its stake in AMETEK by 84.3% in the 4th quarter. CoreCap Advisors LLC now owns 129 shares of the technology company’s stock worth $26,000 after buying an additional 59 shares during the period. MV Capital Management Inc. purchased a new stake in AMETEK in the 4th quarter valued at about $28,000. Brown Lisle Cummings Inc. grew its stake in AMETEK by 878.6% in the 1st quarter. Brown Lisle Cummings Inc. now owns 137 shares of the technology company’s stock worth $29,000 after acquiring an additional 123 shares in the last quarter. Darwin Wealth Management LLC bought a new position in AMETEK in the 2nd quarter worth about $25,000. Finally, SJS Investment Consulting Inc. increased its position in shares of AMETEK by 393.1% during the first quarter. SJS Investment Consulting Inc. now owns 143 shares of the technology company’s stock worth $31,000 after acquiring an additional 114 shares during the period. 87.43% of the stock is owned by hedge funds and other institutional investors.
AMETEK Stock Up 0.4%
Shares of NYSE AME traded up $0.86 during midday trading on Friday, reaching $233.85. 639,696 shares of the company’s stock traded hands, compared to its average volume of 1,119,131. The company has a quick ratio of 0.72, a current ratio of 1.14 and a debt-to-equity ratio of 0.10. The stock’s 50 day simple moving average is $231.21 and its 200-day simple moving average is $225.46. AMETEK, Inc. has a one year low of $174.43 and a one year high of $244.71. The company has a market cap of $53.60 billion, a price-to-earnings ratio of 35.32, a P/E/G ratio of 3.27 and a beta of 0.99.
AMETEK Dividend Announcement
The business also recently declared a quarterly dividend, which was paid on Tuesday, June 30th. Stockholders of record on Monday, June 15th were given a $0.34 dividend. This represents a $1.36 annualized dividend and a dividend yield of 0.6%. The ex-dividend date of this dividend was Monday, June 15th. AMETEK’s payout ratio is presently 20.54%.
Wall Street Analysts Forecast Growth
A number of brokerages recently issued reports on AME. Barclays boosted their price target on AMETEK from $220.00 to $230.00 and gave the company an “equal weight” rating in a report on Monday, May 4th. Truist Financial lifted their target price on AMETEK from $275.00 to $303.00 and gave the company a “buy” rating in a research report on Thursday, July 2nd. Mizuho set a $270.00 target price on AMETEK in a report on Friday, May 1st. Robert W. Baird set a $244.00 price target on AMETEK in a research report on Friday, May 1st. Finally, BMO Capital Markets began coverage on AMETEK in a research note on Friday, March 27th. They set an “outperform” rating and a $253.00 price target on the stock. One research analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and five have assigned a Hold rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $256.29.
Check Out Our Latest Research Report on AME
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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