Zurcher Kantonalbank Zurich Cantonalbank continued to hold its stake in AMETEK, Inc. (NYSE:AME) during the first quarter, Holdings Channel reports. The firm owned 39,751 shares of the technology company’s stock at the end of the first quarter. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in AMETEK were worth $2,150,000 as of its most recent SEC filing.
Other large investors also recently bought and sold shares of the company. LS Investment Advisors LLC raised its stake in AMETEK by 9.9% in the first quarter. LS Investment Advisors LLC now owns 13,557 shares of the technology company’s stock worth $733,000 after buying an additional 1,223 shares during the period. Pictet Asset Management Ltd. raised its stake in AMETEK by 6.9% in the first quarter. Pictet Asset Management Ltd. now owns 128,878 shares of the technology company’s stock worth $6,970,000 after buying an additional 8,300 shares during the period. Xact Kapitalforvaltning AB raised its stake in AMETEK by 3.3% in the first quarter. Xact Kapitalforvaltning AB now owns 55,648 shares of the technology company’s stock worth $3,009,000 after buying an additional 1,768 shares during the period. BNP Paribas Arbitrage SA raised its stake in AMETEK by 403.0% in the first quarter. BNP Paribas Arbitrage SA now owns 147,164 shares of the technology company’s stock worth $7,959,000 after buying an additional 117,904 shares during the period. Finally, Suntrust Banks Inc. raised its stake in AMETEK by 23.7% in the first quarter. Suntrust Banks Inc. now owns 27,409 shares of the technology company’s stock worth $1,481,000 after buying an additional 5,250 shares during the period. Institutional investors and hedge funds own 89.39% of the company’s stock.
AMETEK, Inc. (NYSE:AME) traded up 2.01% on Friday, reaching $60.33. The company’s stock had a trading volume of 896,968 shares. The firm has a 50 day moving average price of $56.71 and a 200 day moving average price of $52.25. AMETEK, Inc. has a 52 week low of $43.28 and a 52 week high of $60.69. The stock has a market capitalization of $13.88 billion, a P/E ratio of 27.19 and a beta of 1.11.
AMETEK (NYSE:AME) last announced its quarterly earnings data on Tuesday, May 2nd. The technology company reported $0.60 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.57 by $0.03. AMETEK had a net margin of 13.34% and a return on equity of 16.19%. The company had revenue of $1.01 billion during the quarter, compared to analysts’ expectations of $961.36 million. During the same period in the previous year, the company earned $0.57 EPS. The business’s quarterly revenue was up 6.7% compared to the same quarter last year. On average, equities analysts anticipate that AMETEK, Inc. will post $2.47 EPS for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, June 30th. Investors of record on Friday, June 16th will be issued a dividend of $0.09 per share. This represents a $0.36 annualized dividend and a dividend yield of 0.61%. AMETEK’s payout ratio is 16.44%.
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A number of equities research analysts have recently issued reports on the company. Zacks Investment Research lowered AMETEK from a “buy” rating to a “hold” rating in a research report on Friday. Morgan Stanley upped their price target on AMETEK from $57.00 to $62.00 and gave the company an “equal weight” rating in a research report on Monday, May 8th. BMO Capital Markets restated an “outperform” rating and issued a $67.00 price target (up from $65.00) on shares of AMETEK in a research report on Wednesday, May 3rd. Jefferies Group LLC reiterated a “buy” rating and issued a $66.00 price objective (up from $63.00) on shares of AMETEK in a report on Wednesday, May 3rd. Finally, Atlantic Securities upgraded AMETEK from a “neutral” rating to an “overweight” rating and upped their price objective for the company from $48.00 to $62.00 in a report on Wednesday, February 15th. Two investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. The stock presently has a consensus rating of “Buy” and a consensus target price of $59.50.
In related news, VP Thomas M. Montgomery sold 6,864 shares of AMETEK stock in a transaction on Friday, May 5th. The shares were sold at an average price of $60.52, for a total transaction of $415,409.28. Following the transaction, the vice president now owns 28,446 shares in the company, valued at approximately $1,721,551.92. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director James R. Malone sold 1,190 shares of AMETEK stock in a transaction on Friday, May 12th. The shares were sold at an average price of $59.65, for a total transaction of $70,983.50. Following the transaction, the director now owns 4,300 shares in the company, valued at approximately $256,495. The disclosure for this sale can be found here. Insiders have sold a total of 64,751 shares of company stock worth $3,725,073 in the last 90 days. Company insiders own 2.00% of the company’s stock.
AMETEK, Inc is a manufacturer of electronic instruments and electromechanical devices with operations in North America, Europe, Asia and South America. The Company operates through two segments: Electronic Instruments (EIG) and Electromechanical (EMG). EIG designs and manufactures instruments for the process, power and industrial and aerospace markets.
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