Legal & General Group Plc lowered its stake in shares of AMETEK, Inc. (NYSE:AME) by 6.4% in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,080,233 shares of the technology company’s stock after selling 73,951 shares during the quarter. Legal & General Group Plc owned about 0.47% of AMETEK worth $82,065,000 at the end of the most recent quarter.
Other institutional investors also recently made changes to their positions in the company. Adviser Investments LLC bought a new stake in AMETEK during the first quarter worth approximately $103,000. Three Peaks Capital Management LLC bought a new stake in AMETEK during the first quarter worth approximately $111,000. Rampart Investment Management Company LLC bought a new stake in AMETEK during the first quarter worth approximately $178,000. 180 Wealth Advisors LLC bought a new stake in AMETEK during the fourth quarter worth approximately $200,000. Finally, Wetherby Asset Management Inc. bought a new stake in AMETEK during the first quarter worth approximately $210,000. 83.98% of the stock is owned by hedge funds and other institutional investors.
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Shares of AMETEK opened at $73.00 on Monday, MarketBeat.com reports. AMETEK, Inc. has a 12 month low of $59.56 and a 12 month high of $79.32. The company has a market cap of $16.91 billion, a PE ratio of 26.16, a price-to-earnings-growth ratio of 2.33 and a beta of 1.26. The company has a debt-to-equity ratio of 0.45, a current ratio of 1.69 and a quick ratio of 1.18.
AMETEK (NYSE:AME) last issued its quarterly earnings results on Wednesday, May 2nd. The technology company reported $0.78 EPS for the quarter, topping analysts’ consensus estimates of $0.72 by $0.06. AMETEK had a return on equity of 16.64% and a net margin of 16.21%. The company had revenue of $1.17 billion during the quarter, compared to analyst estimates of $1.12 billion. During the same period in the previous year, the company earned $0.61 earnings per share. The company’s quarterly revenue was up 16.4% compared to the same quarter last year. equities analysts anticipate that AMETEK, Inc. will post 3.13 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Friday, June 29th. Investors of record on Friday, June 15th will be paid a $0.14 dividend. The ex-dividend date of this dividend is Thursday, June 14th. This represents a $0.56 dividend on an annualized basis and a dividend yield of 0.77%. AMETEK’s payout ratio is 21.46%.
A number of equities research analysts have issued reports on AME shares. Zacks Investment Research raised AMETEK from a “hold” rating to a “buy” rating and set a $85.00 target price for the company in a research report on Tuesday, May 22nd. DA Davidson started coverage on AMETEK in a research report on Thursday, April 12th. They set a “buy” rating and a $85.00 target price for the company. ValuEngine raised AMETEK from a “hold” rating to a “buy” rating in a research report on Thursday, March 1st. Morgan Stanley upped their target price on AMETEK from $76.00 to $79.00 and gave the stock an “equal weight” rating in a research report on Thursday, May 3rd. Finally, BMO Capital Markets upped their target price on AMETEK from $90.00 to $92.00 and gave the stock an “outperform” rating in a research report on Thursday, May 3rd. Three analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. The stock presently has an average rating of “Buy” and an average target price of $82.17.
In related news, Director Elizebeth R. Varet sold 2,000 shares of the company’s stock in a transaction on Friday, June 8th. The stock was sold at an average price of $75.56, for a total value of $151,120.00. Following the completion of the transaction, the director now directly owns 113,810 shares in the company, valued at $8,599,483.60. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 2.10% of the company’s stock.
AMETEK Company Profile
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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