Shell Asset Management Co. Sells 320 Shares of AMETEK, Inc. (NYSE:AME)

Shell Asset Management Co. lowered its stake in shares of AMETEK, Inc. (NYSE:AMEGet Rating) by 5.3% in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 5,667 shares of the technology company’s stock after selling 320 shares during the quarter. Shell Asset Management Co.’s holdings in AMETEK were worth $755,000 at the end of the most recent quarter.

A number of other large investors have also recently added to or reduced their stakes in the stock. Versor Investments LP bought a new stake in AMETEK during the first quarter worth approximately $226,000. Arizona State Retirement System boosted its position in AMETEK by 2.3% during the first quarter. Arizona State Retirement System now owns 64,391 shares of the technology company’s stock worth $8,576,000 after purchasing an additional 1,441 shares during the period. Metis Global Partners LLC boosted its position in AMETEK by 81.3% during the first quarter. Metis Global Partners LLC now owns 3,660 shares of the technology company’s stock worth $487,000 after purchasing an additional 1,641 shares during the period. State of New Jersey Common Pension Fund D boosted its position in AMETEK by 2.9% during the first quarter. State of New Jersey Common Pension Fund D now owns 132,240 shares of the technology company’s stock worth $17,612,000 after purchasing an additional 3,730 shares during the period. Finally, Buffington Mohr McNeal boosted its position in AMETEK by 2.6% during the first quarter. Buffington Mohr McNeal now owns 69,366 shares of the technology company’s stock worth $9,238,000 after purchasing an additional 1,730 shares during the period. Institutional investors own 86.72% of the company’s stock.

Wall Street Analyst Weigh In

AME has been the subject of a number of research analyst reports. Loop Capital cut their price target on AMETEK from $170.00 to $155.00 and set a “buy” rating for the company in a report on Tuesday, July 19th. Bank of America lowered AMETEK from a “buy” rating to a “neutral” rating and cut their price target for the stock from $170.00 to $122.00 in a report on Monday, July 11th. KeyCorp cut their price target on AMETEK from $155.00 to $145.00 in a report on Wednesday, May 4th. Robert W. Baird cut their price target on AMETEK from $156.00 to $140.00 and set a “neutral” rating for the company in a report on Tuesday, May 10th. Finally, Morgan Stanley cut their price target on AMETEK from $144.00 to $135.00 and set an “overweight” rating for the company in a report on Tuesday, May 31st. Three equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $149.70.

AMETEK Stock Performance

Shares of NYSE AME opened at $123.50 on Monday. The business has a fifty day simple moving average of $114.76 and a 200 day simple moving average of $124.80. AMETEK, Inc. has a one year low of $106.17 and a one year high of $148.07. The firm has a market capitalization of $28.52 billion, a price-to-earnings ratio of 27.57, a PEG ratio of 2.36 and a beta of 1.26. The company has a current ratio of 1.43, a quick ratio of 0.88 and a debt-to-equity ratio of 0.32.

AMETEK (NYSE:AMEGet Rating) last announced its quarterly earnings results on Tuesday, May 3rd. The technology company reported $1.33 earnings per share for the quarter, beating analysts’ consensus estimates of $1.27 by $0.06. AMETEK had a return on equity of 17.82% and a net margin of 18.02%. The firm had revenue of $1.46 billion for the quarter, compared to analysts’ expectations of $1.46 billion. During the same period in the prior year, the business posted $1.07 earnings per share. The business’s revenue was up 20.0% compared to the same quarter last year. Sell-side analysts expect that AMETEK, Inc. will post 5.43 EPS for the current year.

AMETEK announced that its Board of Directors has authorized a share repurchase plan on Friday, May 6th that authorizes the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization authorizes the technology company to repurchase up to 3.6% of its stock through open market purchases. Stock repurchase plans are typically a sign that the company’s board of directors believes its stock is undervalued.

AMETEK Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, June 30th. Shareholders of record on Friday, June 10th were given a $0.22 dividend. This represents a $0.88 dividend on an annualized basis and a yield of 0.71%. The ex-dividend date of this dividend was Thursday, June 9th. AMETEK’s dividend payout ratio (DPR) is 19.64%.

AMETEK Profile

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AMETEK, Inc manufactures and sells electronic instruments and electromechanical devices worldwide. It operates in two segments, Electronic Instruments (EIG) and Electromechanical (EMG). The company's EIG segment offers advanced instruments for the process, aerospace, power, and industrial markets; process and analytical instruments for the oil and gas, petrochemical, pharmaceutical, semiconductor, automation, and food and beverage industries; and instruments to the laboratory equipment, ultra-precision manufacturing, medical, and test and measurement markets.

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Institutional Ownership by Quarter for AMETEK (NYSE:AME)

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