Focus Financial Network Inc. raised its position in shares of AMETEK, Inc. (NYSE:AME – Free Report) by 325.9% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 9,059 shares of the technology company’s stock after buying an additional 6,932 shares during the period. Focus Financial Network Inc.’s holdings in AMETEK were worth $2,244,000 as of its most recent filing with the Securities & Exchange Commission.
Several other large investors also recently bought and sold shares of the stock. National Pension Service boosted its holdings in shares of AMETEK by 1.6% in the 2nd quarter. National Pension Service now owns 338,990 shares of the technology company’s stock valued at $82,015,000 after buying an additional 5,382 shares in the last quarter. Fifth Third Bancorp increased its position in AMETEK by 1,060.3% during the first quarter. Fifth Third Bancorp now owns 82,948 shares of the technology company’s stock worth $17,781,000 after buying an additional 75,799 shares during the period. Groupe la Francaise increased its position in AMETEK by 15.6% during the second quarter. Groupe la Francaise now owns 154,326 shares of the technology company’s stock worth $37,361,000 after buying an additional 20,780 shares during the period. Jennison Associates LLC grew its position in shares of AMETEK by 93.0% during the first quarter. Jennison Associates LLC now owns 256,693 shares of the technology company’s stock worth $55,025,000 after acquiring an additional 123,719 shares during the last quarter. Finally, QRG Capital Management Inc. boosted its stake in AMETEK by 1,002.4% during the 2nd quarter. QRG Capital Management Inc. now owns 132,612 shares of the technology company’s stock worth $32,084,000 after purchasing an additional 120,583 shares during the period. Hedge funds and other institutional investors own 87.43% of the company’s stock.
AMETEK Stock Performance
NYSE:AME opened at $246.56 on Thursday. The company has a market cap of $56.51 billion, a P/E ratio of 36.05, a P/E/G ratio of 2.37 and a beta of 0.96. The company has a quick ratio of 0.76, a current ratio of 1.21 and a debt-to-equity ratio of 0.09. The firm’s 50 day moving average is $244.72 and its two-hundred day moving average is $236.38. AMETEK, Inc. has a fifty-two week low of $182.87 and a fifty-two week high of $261.16.
AMETEK Announces Dividend
The firm also recently announced a quarterly dividend, which was paid on Wednesday, September 30th. Shareholders of record on Tuesday, September 15th were paid a dividend of $0.34 per share. The ex-dividend date was Tuesday, September 15th. This represents a $1.36 annualized dividend and a yield of 0.6%. AMETEK’s payout ratio is presently 19.88%.
Insider Buying and Selling
In other news, insider David Hermance sold 6,608 shares of the company’s stock in a transaction dated Friday, August 7th. The shares were sold at an average price of $254.00, for a total transaction of $1,678,432.00. Following the completion of the transaction, the insider owned 42,509 shares in the company, valued at approximately $10,797,286. This represents a 13.45% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.54% of the stock is currently owned by insiders.
Wall Street Analysts Forecast Growth
Several research firms have commented on AME. KeyCorp upped their price objective on AMETEK from $260.00 to $295.00 and gave the company an “overweight” rating in a research note on Wednesday, August 5th. Robert W. Baird lifted their price target on AMETEK from $275.00 to $280.00 and gave the company a “neutral” rating in a research note on Monday, October 5th. Deutsche Bank Aktiengesellschaft boosted their target price on shares of AMETEK from $288.00 to $318.00 and gave the stock a “buy” rating in a research report on Wednesday, September 30th. Mizuho upped their target price on shares of AMETEK from $270.00 to $285.00 and gave the stock an “outperform” rating in a research report on Wednesday, August 5th. Finally, TD Cowen reissued a “buy” rating on shares of AMETEK in a report on Thursday, August 6th. One investment analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and five have issued a Hold rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $274.41.
Check Out Our Latest Analysis on AMETEK
AMETEK Company Profile
AMETEK, Inc (NYSE: AME) is a global manufacturer of industrial technology products. The company develops and produces electronic instruments and electromechanical devices used in process, industrial, aerospace, power, energy, and other specialized markets.
AMETEK’s Electronic Instruments segment supplies products such as process and analytical instruments, measurement and testing equipment, power-quality monitoring systems, automation and control solutions, and equipment for aerospace and defense applications.
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