Gabelli Funds LLC trimmed its position in AMETEK, Inc. (NYSE:AME – Free Report) by 1.6% in the 1st quarter, HoldingsChannel reports. The fund owned 928,813 shares of the technology company’s stock after selling 15,370 shares during the quarter. AMETEK makes up about 1.3% of Gabelli Funds LLC’s holdings, making the stock its 4th largest holding. Gabelli Funds LLC’s holdings in AMETEK were worth $199,100,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. State Street Corp boosted its position in shares of AMETEK by 2.0% in the fourth quarter. State Street Corp now owns 9,956,361 shares of the technology company’s stock worth $2,044,140,000 after purchasing an additional 192,677 shares during the period. Geode Capital Management LLC raised its position in shares of AMETEK by 0.6% during the 4th quarter. Geode Capital Management LLC now owns 5,891,236 shares of the technology company’s stock valued at $1,204,722,000 after purchasing an additional 37,651 shares during the period. Invesco Ltd. raised its position in shares of AMETEK by 4.9% during the 3rd quarter. Invesco Ltd. now owns 4,463,518 shares of the technology company’s stock valued at $839,141,000 after purchasing an additional 209,043 shares during the period. Norges Bank purchased a new position in shares of AMETEK during the 4th quarter valued at $831,372,000. Finally, Morgan Stanley boosted its holdings in AMETEK by 2.9% in the 4th quarter. Morgan Stanley now owns 3,963,062 shares of the technology company’s stock worth $813,657,000 after buying an additional 110,037 shares during the period. Institutional investors own 87.43% of the company’s stock.
AMETEK Stock Up 0.4%
Shares of AME opened at $242.10 on Friday. The company has a debt-to-equity ratio of 0.10, a current ratio of 1.14 and a quick ratio of 0.72. The stock has a market capitalization of $55.49 billion, a price-to-earnings ratio of 36.57, a price-to-earnings-growth ratio of 3.38 and a beta of 0.99. AMETEK, Inc. has a 1 year low of $175.61 and a 1 year high of $244.71. The business’s 50 day simple moving average is $231.91 and its 200-day simple moving average is $227.51.
AMETEK Dividend Announcement
The firm also recently announced a quarterly dividend, which was paid on Tuesday, June 30th. Stockholders of record on Monday, June 15th were given a dividend of $0.34 per share. This represents a $1.36 annualized dividend and a dividend yield of 0.6%. The ex-dividend date was Monday, June 15th. AMETEK’s dividend payout ratio is currently 20.54%.
Wall Street Analyst Weigh In
A number of equities research analysts have issued reports on AME shares. Robert W. Baird set a $244.00 price target on AMETEK in a research note on Friday, May 1st. Wall Street Zen downgraded AMETEK from a “buy” rating to a “hold” rating in a research note on Sunday, May 10th. Morgan Stanley upped their price target on AMETEK from $235.00 to $245.00 and gave the stock an “equal weight” rating in a research note on Friday, July 10th. DA Davidson reiterated a “buy” rating and set a $265.00 price objective on shares of AMETEK in a research report on Monday, May 4th. Finally, Citigroup initiated coverage on shares of AMETEK in a report on Monday, June 15th. They issued a “neutral” rating and a $257.00 target price on the stock. One equities 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 MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $256.29.
Read 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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