NEOS Investment Management LLC increased its stake in shares of AMETEK, Inc. (NYSE:AME – Free Report) by 48.3% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 25,589 shares of the technology company’s stock after purchasing an additional 8,335 shares during the quarter. NEOS Investment Management LLC’s holdings in AMETEK were worth $4,811,000 as of its most recent SEC filing.
Several other institutional investors also recently bought and sold shares of the company. KBC Group NV increased its holdings in AMETEK by 3.2% during the 2nd quarter. KBC Group NV now owns 289,634 shares of the technology company’s stock valued at $52,412,000 after acquiring an additional 9,063 shares in the last quarter. Principal Financial Group Inc. raised its position in shares of AMETEK by 4.9% during the 3rd quarter. Principal Financial Group Inc. now owns 2,043,029 shares of the technology company’s stock worth $384,096,000 after purchasing an additional 94,645 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. lifted its stake in AMETEK by 22.3% in the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 37,853 shares of the technology company’s stock valued at $7,116,000 after buying an additional 6,911 shares in the last quarter. Nordea Investment Management AB grew its holdings in AMETEK by 246.0% during the 3rd quarter. Nordea Investment Management AB now owns 92,175 shares of the technology company’s stock valued at $17,344,000 after buying an additional 65,537 shares during the last quarter. Finally, Valley National Advisers Inc. purchased a new position in AMETEK during the third quarter worth $2,061,000. 87.43% of the stock is owned by institutional investors and hedge funds.
AMETEK Stock Up 0.4%
Shares of NYSE:AME opened at $234.33 on Thursday. The stock has a 50-day simple moving average of $216.41 and a 200-day simple moving average of $198.69. The stock has a market capitalization of $53.94 billion, a P/E ratio of 36.61, a PEG ratio of 3.33 and a beta of 1.03. AMETEK, Inc. has a 1 year low of $145.02 and a 1 year high of $239.94. The company has a debt-to-equity ratio of 0.10, a quick ratio of 0.67 and a current ratio of 1.06.
AMETEK Increases Dividend
The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 31st. Shareholders of record on Monday, March 16th will be paid a dividend of $0.34 per share. This is a boost from AMETEK’s previous quarterly dividend of $0.31. This represents a $1.36 dividend on an annualized basis and a dividend yield of 0.6%. The ex-dividend date is Monday, March 16th. AMETEK’s payout ratio is presently 19.38%.
Wall Street Analysts Forecast Growth
A number of research firms recently commented on AME. KeyCorp lifted their price objective on AMETEK from $235.00 to $260.00 and gave the stock an “overweight” rating in a research report on Wednesday, February 4th. Robert W. Baird set a $245.00 price objective on shares of AMETEK in a research report on Thursday, February 5th. Wall Street Zen downgraded shares of AMETEK from a “buy” rating to a “hold” rating in a research note on Saturday, February 14th. DA Davidson reiterated a “buy” rating and issued a $240.00 price target on shares of AMETEK in a report on Wednesday, February 4th. Finally, Barclays raised their price objective on AMETEK from $210.00 to $220.00 and gave the stock an “equal weight” rating in a report on Wednesday, February 4th. One equities research analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and four have assigned a Hold rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $243.00.
Read Our Latest Stock Report on AME
Insider Transactions at AMETEK
In related news, VP Thomas M. Montgomery sold 6,388 shares of the business’s stock in a transaction that occurred on Monday, December 22nd. The stock was sold at an average price of $205.05, for a total transaction of $1,309,859.40. Following the transaction, the vice president directly owned 22,116 shares of the company’s stock, valued at approximately $4,534,885.80. The trade was a 22.41% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CEO David A. Zapico sold 28,390 shares of the stock in a transaction that occurred on Friday, December 12th. The shares were sold at an average price of $201.76, for a total transaction of $5,727,966.40. The disclosure for this sale is available in the SEC filing. Insiders sold 137,088 shares of company stock valued at $27,212,340 over the last quarter. Company insiders own 0.57% of the company’s stock.
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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