Danske Bank A S purchased a new stake in shares of AMETEK, Inc. (NYSE:AME – Free Report) in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 282,679 shares of the technology company’s stock, valued at approximately $68,391,000. Danske Bank A S owned about 0.12% of AMETEK as of its most recent SEC filing.
Several other large investors have also recently added to or reduced their stakes in the company. Diversify Advisory Services LLC acquired a new stake in shares of AMETEK during the second quarter worth approximately $829,000. Wealthfront Advisers LLC acquired a new position in shares of AMETEK in the 2nd quarter worth approximately $8,980,000. First National Bank of Omaha acquired a new position in shares of AMETEK in the 2nd quarter worth approximately $4,409,000. M.D. Sass LLC bought a new stake in AMETEK during the 2nd quarter worth approximately $80,656,000. Finally, JLB & Associates Inc. acquired a new stake in AMETEK during the 2nd quarter valued at $13,458,000. 87.43% of the stock is owned by institutional investors.
AMETEK Stock Down 1.6%
NYSE AME opened at $250.21 on Wednesday. The stock has a fifty day moving average of $239.95 and a 200-day moving average of $231.70. The stock has a market capitalization of $57.35 billion, a P/E ratio of 36.58, a price-to-earnings-growth ratio of 3.26 and a beta of 0.98. AMETEK, Inc. has a 52 week low of $179.24 and a 52 week high of $261.16. The company has a debt-to-equity ratio of 0.09, a quick ratio of 0.76 and a current ratio of 1.21.
AMETEK Announces Dividend
The firm also recently announced a quarterly dividend, which will be paid on Wednesday, September 30th. Stockholders of record on Tuesday, September 15th will be paid a $0.34 dividend. This represents a $1.36 annualized dividend and a dividend yield of 0.5%. The ex-dividend date of this dividend is Tuesday, September 15th. AMETEK’s dividend payout ratio (DPR) is 19.88%.
Insider Activity
In other news, insider David F. Hermance sold 6,608 shares of AMETEK stock in a transaction that occurred on Friday, August 7th. The shares were sold at an average price of $254.00, for a total transaction of $1,678,432.00. Following the completion of the sale, the insider owned 42,509 shares in the company, valued at $10,797,286. The trade was a 13.45% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Company insiders own 0.54% of the company’s stock.
Analysts Set New Price Targets
AME has been the subject of several research analyst reports. Robert W. Baird set a $275.00 price objective on AMETEK in a research report on Wednesday, August 5th. KeyCorp increased their target price on AMETEK from $260.00 to $295.00 and gave the stock an “overweight” rating in a report on Wednesday, August 5th. Rothschild & Co Redburn set a $265.00 target price on AMETEK in a research note on Thursday, June 18th. TD Cowen reaffirmed a “buy” rating on shares of AMETEK in a report on Thursday, August 6th. Finally, Morgan Stanley increased their price objective on shares of AMETEK from $235.00 to $245.00 and gave the stock an “equal weight” rating in a report on Friday, July 10th. One investment analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating and five have issued a Hold rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $266.80.
View Our Latest Research Report 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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