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Manufacturers’ Life Insurance Company increased its position in AMETEK, Inc. (NYSE: AME – Get Rating) by 89.8% in the third quarter, according to its latest Form 13F filing with the U.S. Securities and Exchange Commission. The company owned his 436,943 shares of technology company stock after purchasing an additional 206,774 of his shares during the period. Manufacturers’ Life Insurance Company owned approximately 0.19% of his AMETEK worth $49,554,000 as of a recent Securities and Exchange Commission filing.
A number of other hedge funds have also recently increased or decreased their stakes in the company. JW Cole Advisors Inc. acquired a new stake in his AMETEK worth approximately $26,000 in the first quarter. Covestor Ltd increased his AMETEK stock position by 84.3% in the first quarter. Covestor Ltd now owns 212 shares in the technology company valued at $28,000 after acquiring an additional 97 shares during this period. Allworth Financial LP increased his AMETEK stock position by 73.5% in the second quarter. After acquiring an additional 136 shares during this period, Allworth Financial LP now owns 321 shares in the technology company valued at $35,000. Zions Bancorporation NA increased his AMETEK stock position by 726.5% in the first quarter. Zions Bancorporation NA now owns 281 shares of the technology company valued at $37,000 after acquiring an additional 247 shares during this period. Finally, Clear Street Markets LLC increased his AMETEK stock position by 407.4% in the second quarter. Clear Street Markets LLC now owns 482 shares of technology company stock valued at $53,000 after acquiring an additional 387 shares during this period. Institutional investors and hedge funds own 85.42% of the company’s shares.
insider bet
In other news, director Gretchen W. McClain sold 2,720 shares of the company in a transaction on Wednesday, December 28th. The shares were sold at an average price of $140.62 for a total of $382,486.40. Following the closing of the sale, the directors now own 14,704 shares of the Company’s stock valued at approximately $2,067,676.48. The transaction is disclosed in legal documents to the Securities and Exchange Commission, available on his website at the SEC. In related news, director Gretchen W. McClain sold 2,720 shares of the company in a transaction on Wednesday, December 28th. The shares sold for an average of $140.62, and the total transaction value was $382,486.40. Following the closing of the sale, the directors now own 14,704 shares of the Company’s stock valued at approximately $2,067,676.48. The sale was disclosed in legal filings with the SEC available at this link. And his insider, Thomas C. Marecic, sold 10,000 shares of the company’s stock in a deal on Wednesday, Nov. 23. The shares sold at an average price of $142.05 and the total transaction value was $1,420,500.00. After the sale, insiders now own 31,622 shares of the company directly, valued at approximately $4,491,905.10. Please see here for the disclosure of this sale. Insiders sold 15,038 shares of company stock worth $2,129,848 last quarter. His 0.72% of shares are owned by corporate insiders.
Analyst sets new price target
Recently, many research analysts have focused on AME stocks. Mizuho raised its price target on AMETEK stock to $153.00 from $145.00 and gave it a ‘buy’ rating in its research notes on Friday, January 13. StockNews.com downgraded AMETEK’s stock from a ‘buy’ rating to a ‘hold’ rating in its research notes on Thursday, January 5. Royal Bank of Canada raised its price target on AMETEK shares from $135.00 to $136.00, giving it an “outperform” rating in its research notes on Wednesday, November 2nd. Loop Capital increased its price target for AMETEK shares from $160.00 to $164.00 in a research note on Thursday, January 12. Finally, KeyCorp increased his price target on AMETEK stock from $145.00 to $165.00 and gave the stock an “Overweight” rating in its research notes on Monday, November 21. Three analysts rated the stock with a holding rating and six issued buy ratings on the stock. According to MarketBeat data, the company’s consensus rating is “moderate buy” with an average target price of $150.78.
AMETEK stock price up 2.5%
NYSE AME shares opened Friday at $142.50. AMETEK, Inc. has a 52-week low of $106.17 and a 52-week high of $147.01. The company has a 50-day moving average of $140.88 and a 200-day moving average of $128.23. The stock has a market capitalization of $32.73 billion, a PE ratio of 29.14, a P/E/G ratio of 2.61, and a beta of 1.22. The company has a quick ratio of 0.88, a current ratio of 1.53 and a debt to equity ratio of 0.29.
AMETEK (NYSE:AME – Get Rating) last released quarterly earnings data on Tuesday, November 1. The tech company had his earnings per share (EPS) of $1.45 for the quarter, $0.08 above consensus expectations of his $1.37. The company’s revenue for the quarter was $1.55 billion, compared with analyst estimates of $1.51 billion. AMETEK had a net profit margin of 18.81% and a return on equity of 18.40%. Business quarterly revenue increased 7.7% compared to the same period last year. His EPS for the company in the same period last year was $1.26. On average, analysts expect AMETEK, Inc. to post 5.63 EPS this year.
AMETEK Announces Dividend
The company recently announced its quarterly dividend, which was paid out on Friday, December 23rd. A dividend of $0.22 was issued to shareholders of record on Wednesday, December 7. The ex-dividend date for this dividend was Tuesday, December 6. This represents his $0.88 dividend and his 0.62% yield on an annual basis. AMETEK’s dividend payout ratio is currently 18.00%.
AMETEK profile
(get rating)
AMETEK, Inc is engaged in the manufacture of electronic and electromechanical devices. He operates in two segments, Electronics and Electrical Machinery. The Electronics segment designs and manufactures advanced equipment for the process, aerospace, power, and industrial markets.
References
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