Hsbc Holdings PLC lessened its stake in AMETEK, Inc. (NYSE:AME – Free Report) by 8.2% in the first quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 1,159,724 shares of the technology company’s stock after selling 103,764 shares during the period. Hsbc Holdings PLC owned 0.51% of AMETEK worth $248,415,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors also recently made changes to their positions in AME. Norges Bank acquired a new position in shares of AMETEK during the fourth quarter valued at approximately $831,372,000. Wellington Management Group LLP increased its position in shares of AMETEK by 302.9% during the 4th quarter. Wellington Management Group LLP now owns 2,807,664 shares of the technology company’s stock valued at $576,441,000 after purchasing an additional 2,110,818 shares during the period. Balyasny Asset Management L.P. raised its stake in shares of AMETEK by 539.2% in the 4th quarter. Balyasny Asset Management L.P. now owns 1,070,555 shares of the technology company’s stock worth $219,796,000 after buying an additional 903,061 shares in the last quarter. Nordea Investment Management AB lifted its holdings in shares of AMETEK by 825.0% in the fourth quarter. Nordea Investment Management AB now owns 852,585 shares of the technology company’s stock valued at $176,153,000 after buying an additional 760,410 shares during the period. Finally, Lazard Asset Management LLC boosted its stake in AMETEK by 35.7% during the third quarter. Lazard Asset Management LLC now owns 2,645,977 shares of the technology company’s stock valued at $497,444,000 after buying an additional 695,419 shares in the last quarter. 87.43% of the stock is currently owned by institutional investors.
AMETEK Stock Down 0.3%
Shares of NYSE:AME opened at $236.66 on Friday. The firm has a 50 day simple moving average of $231.11 and a 200 day simple moving average of $226.40. AMETEK, Inc. has a 52 week low of $175.61 and a 52 week high of $244.71. The company has a debt-to-equity ratio of 0.10, a quick ratio of 0.72 and a current ratio of 1.14. The company has a market cap of $54.24 billion, a PE ratio of 35.75, a price-to-earnings-growth ratio of 3.32 and a beta of 0.99.
AMETEK Announces Dividend
The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, June 30th. Investors of record on Monday, June 15th were paid a $0.34 dividend. This represents a $1.36 annualized dividend and a yield of 0.6%. The ex-dividend date of this dividend was Monday, June 15th. AMETEK’s dividend payout ratio is currently 20.54%.
Analysts Set New Price Targets
AME has been the subject of a number of research analyst reports. Wall Street Zen downgraded shares of AMETEK from a “buy” rating to a “hold” rating in a report on Sunday, May 10th. Mizuho set a $270.00 target price on shares of AMETEK in a research note on Friday, May 1st. Robert W. Baird set a $244.00 price target on shares of AMETEK in a research report on Friday, May 1st. Barclays raised their price objective on AMETEK from $220.00 to $230.00 and gave the stock an “equal weight” rating in a research note on Monday, May 4th. Finally, Citigroup assumed coverage on AMETEK in a research report on Monday, June 15th. They set a “neutral” rating and a $257.00 target price on the stock. One investment analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and five have given a Hold rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $256.29.
View Our Latest Stock Analysis on AME
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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