Commonwealth of Pennsylvania Public School Empls Retrmt SYS trimmed its position in AMETEK, Inc. (NYSE:AME) by 21.5% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 19,030 shares of the technology company’s stock after selling 5,212 shares during the period. Commonwealth of Pennsylvania Public School Empls Retrmt SYS’s holdings in AMETEK were worth $1,506,000 at the end of the most recent quarter.
Several other large investors have also recently made changes to their positions in AME. BlackRock Inc. raised its position in shares of AMETEK by 11.8% in the 2nd quarter. BlackRock Inc. now owns 18,178,345 shares of the technology company’s stock valued at $1,311,749,000 after acquiring an additional 1,922,878 shares during the period. Millennium Management LLC raised its position in shares of AMETEK by 169.1% in the 2nd quarter. Millennium Management LLC now owns 1,647,306 shares of the technology company’s stock valued at $118,870,000 after acquiring an additional 1,035,084 shares during the period. Renaissance Technologies LLC acquired a new stake in shares of AMETEK in the 2nd quarter valued at approximately $40,825,000. Epoch Investment Partners Inc. raised its position in shares of AMETEK by 62.5% in the 2nd quarter. Epoch Investment Partners Inc. now owns 1,296,342 shares of the technology company’s stock valued at $93,544,000 after acquiring an additional 498,391 shares during the period. Finally, American Century Companies Inc. raised its position in shares of AMETEK by 10.4% in the 3rd quarter. American Century Companies Inc. now owns 4,237,926 shares of the technology company’s stock valued at $335,305,000 after acquiring an additional 400,177 shares during the period. Institutional investors and hedge funds own 84.90% of the company’s stock.
A number of brokerages recently weighed in on AME. Stephens began coverage on shares of AMETEK in a research report on Monday, November 19th. They issued an “overweight” rating and a $87.00 price target on the stock. ValuEngine upgraded shares of AMETEK from a “hold” rating to a “buy” rating in a research report on Tuesday, November 6th. Morgan Stanley cut their price target on shares of AMETEK from $84.00 to $81.00 and set an “equal weight” rating on the stock in a research report on Monday, November 5th. Robert W. Baird increased their price target on shares of AMETEK from $82.00 to $84.00 and gave the company an “outperform” rating in a research report on Friday, November 2nd. Finally, BMO Capital Markets cut their price target on shares of AMETEK from $93.00 to $91.00 and set an “outperform” rating on the stock in a research report on Friday, November 2nd. Two equities research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and an average price target of $87.00.
Shares of AME stock opened at $71.66 on Friday. The company has a debt-to-equity ratio of 0.41, a quick ratio of 1.42 and a current ratio of 2.06. The company has a market cap of $16.77 billion, a price-to-earnings ratio of 27.46, a P/E/G ratio of 1.98 and a beta of 1.30. AMETEK, Inc. has a 52 week low of $64.91 and a 52 week high of $81.92.
AMETEK (NYSE:AME) last announced its earnings results on Thursday, November 1st. The technology company reported $0.82 EPS for the quarter, topping the consensus estimate of $0.78 by $0.04. The firm had revenue of $1.19 billion for the quarter, compared to the consensus estimate of $1.18 billion. AMETEK had a net margin of 17.06% and a return on equity of 17.08%. The business’s quarterly revenue was up 10.0% on a year-over-year basis. During the same period last year, the company posted $0.66 EPS. On average, analysts forecast that AMETEK, Inc. will post 3.27 EPS for the current year.
The business also recently announced a quarterly dividend, which will be paid on Friday, December 21st. Shareholders of record on Friday, December 7th will be issued a dividend of $0.14 per share. The ex-dividend date of this dividend is Thursday, December 6th. This represents a $0.56 annualized dividend and a yield of 0.78%. AMETEK’s dividend payout ratio (DPR) is currently 21.46%.
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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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