Principal Financial Group Inc. lowered its holdings in AMETEK, Inc. (NYSE:AME – Free Report) by 12.7% in the first quarter, according to the company in its most recent disclosure with the SEC. The firm owned 1,778,484 shares of the technology company’s stock after selling 259,099 shares during the quarter. Principal Financial Group Inc. owned 0.78% of AMETEK worth $381,244,000 as of its most recent filing with the SEC.
Other hedge funds and other institutional investors also recently modified their holdings of the company. Darwin Wealth Management LLC purchased a new stake in AMETEK during the second quarter worth $25,000. CoreCap Advisors LLC boosted its position in shares of 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 in the last quarter. MV Capital Management Inc. purchased a new stake in shares of AMETEK in the 4th quarter worth 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 valued at $29,000 after acquiring an additional 123 shares during the last quarter. Finally, BOKF NA raised its position in AMETEK by 137.7% during the fourth quarter. BOKF NA now owns 145 shares of the technology company’s stock worth $30,000 after acquiring an additional 84 shares during the last quarter. 87.43% of the stock is currently owned by institutional investors and hedge funds.
AMETEK Stock Performance
NYSE:AME opened at $232.05 on Tuesday. AMETEK, Inc. has a 1-year low of $174.43 and a 1-year high of $244.71. The firm has a 50 day simple moving average of $231.13 and a 200-day simple moving average of $225.76. The firm has a market cap of $53.19 billion, a PE ratio of 35.05, a P/E/G ratio of 3.28 and a beta of 0.99. The company has a debt-to-equity ratio of 0.10, a current ratio of 1.14 and a quick ratio of 0.72.
AMETEK Announces Dividend
The firm also recently announced 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 was Monday, June 15th. AMETEK’s dividend payout ratio is presently 20.54%.
Wall Street Analysts Forecast Growth
Several brokerages have issued reports on AME. BMO Capital Markets initiated coverage on shares of AMETEK in a report on Friday, March 27th. They issued an “outperform” rating and a $253.00 price target on the stock. Rothschild & Co Redburn set a $265.00 price objective on AMETEK in a research report on Thursday, June 18th. Robert W. Baird set a $244.00 target price on AMETEK in a report on Friday, May 1st. Mizuho set a $270.00 price target on AMETEK in a research report on Friday, May 1st. Finally, Wall Street Zen downgraded AMETEK from a “buy” rating to a “hold” rating in a research report on Sunday, May 10th. One analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and five have issued a Hold rating to the company. According to MarketBeat.com, AMETEK has a consensus rating of “Moderate Buy” and a consensus price target of $256.29.
Check Out Our Latest Stock 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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