Alps Advisors Inc. bought a new stake in shares of AMETEK, Inc. (NYSE:AME) during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 2,970 shares of the technology company’s stock, valued at approximately $214,000.
A number of other large investors have also made changes to their positions in AME. Adviser Investments LLC acquired a new position in AMETEK during the 1st quarter valued at about $103,000. Summit Trail Advisors LLC increased its position in AMETEK by 24,362.4% during the 1st quarter. Summit Trail Advisors LLC now owns 105,922 shares of the technology company’s stock valued at $106,000 after buying an additional 105,489 shares in the last quarter. Three Peaks Capital Management LLC acquired a new position in AMETEK during the 1st quarter valued at about $111,000. Rampart Investment Management Company LLC acquired a new position in AMETEK during the 1st quarter valued at about $178,000. Finally, Piedmont Investment Advisors LLC acquired a new position in shares of AMETEK in the second quarter valued at about $195,000. 85.15% of the stock is currently owned by institutional investors.
A number of research analysts have recently weighed in on AME shares. ValuEngine lowered AMETEK from a “buy” rating to a “hold” rating in a report on Monday, July 2nd. Morgan Stanley increased their price objective on AMETEK from $79.00 to $84.00 and gave the company an “equal weight” rating in a report on Wednesday, August 1st. Royal Bank of Canada reissued a “buy” rating and issued a $86.00 price objective on shares of AMETEK in a report on Wednesday, August 1st. Bank of America increased their price objective on AMETEK from $87.00 to $91.00 and gave the company a “buy” rating in a report on Wednesday, August 1st. Finally, Oppenheimer increased their price objective on AMETEK from $85.00 to $90.00 and gave the company an “outperform” rating in a report on Wednesday, August 1st. Two investment analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. The stock presently has a consensus rating of “Buy” and a consensus price target of $86.08.
AMETEK stock traded down $0.60 during midday trading on Friday, hitting $78.65. 805,670 shares of the company were exchanged, compared to its average volume of 1,198,557. The firm has a market cap of $18.35 billion, a price-to-earnings ratio of 30.13, a price-to-earnings-growth ratio of 2.25 and a beta of 1.18. AMETEK, Inc. has a fifty-two week low of $66.49 and a fifty-two week high of $81.92. The company has a quick ratio of 1.19, a current ratio of 1.71 and a debt-to-equity ratio of 0.42.
AMETEK (NYSE:AME) last posted its earnings results on Tuesday, July 31st. The technology company reported $0.83 EPS for the quarter, topping the consensus estimate of $0.78 by $0.05. The firm had revenue of $1.21 billion for the quarter, compared to analyst estimates of $1.19 billion. AMETEK had a return on equity of 16.94% and a net margin of 16.65%. AMETEK’s revenue for the quarter was up 13.6% compared to the same quarter last year. During the same period last year, the company earned $0.65 earnings per share. Equities analysts expect that AMETEK, Inc. will post 3.21 EPS for the current year.
The business also recently announced a quarterly dividend, which was paid on Friday, September 28th. Investors of record on Friday, September 14th were issued a dividend of $0.14 per share. This represents a $0.56 annualized dividend and a yield of 0.71%. The ex-dividend date was Thursday, September 13th. AMETEK’s dividend payout ratio (DPR) is 21.46%.
In related news, insider John Wesley Hardin sold 29,955 shares of the firm’s stock in a transaction dated Wednesday, September 19th. The stock was sold at an average price of $81.55, for a total transaction of $2,442,830.25. Following the sale, the insider now directly owns 70,016 shares of the company’s stock, valued at $5,709,804.80. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director Elizebeth R. Varet sold 2,000 shares of the stock in a transaction that occurred on Thursday, July 26th. The stock was sold at an average price of $76.70, for a total value of $153,400.00. Following the transaction, the director now owns 113,810 shares in the company, valued at approximately $8,729,227. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 63,925 shares of company stock worth $5,118,510. 2.00% of the stock is owned by corporate insiders.
AMETEK, Inc manufactures and sells electronic instruments and electromechanical devices worldwide. Its Electronic Instruments Group segment offers advanced instruments for the process, power and industrial, and aerospace markets; process and analytical instruments for the oil, gas, petrochemical, pharmaceutical, semiconductor, automation, and food and beverage markets; and instruments for the laboratory equipment, ultraprecision manufacturing, medical, and test and measurement markets.
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