DnB Asset Management AS Purchases 8,221 Shares of AMETEK, Inc. (NYSE:AME)

DnB Asset Management AS raised its holdings in shares of AMETEK, Inc. (NYSE:AMEGet Rating) by 15.0% in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 62,925 shares of the technology company’s stock after acquiring an additional 8,221 shares during the quarter. DnB Asset Management AS’s holdings in AMETEK were worth $6,915,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in AME. Vanguard Group Inc. grew its position in AMETEK by 1.9% in the first quarter. Vanguard Group Inc. now owns 24,608,566 shares of the technology company’s stock valued at $3,277,369,000 after purchasing an additional 463,926 shares in the last quarter. BlackRock Inc. grew its holdings in shares of AMETEK by 2.7% in the 1st quarter. BlackRock Inc. now owns 15,699,216 shares of the technology company’s stock valued at $2,090,820,000 after acquiring an additional 419,800 shares in the last quarter. State Street Corp increased its position in shares of AMETEK by 0.7% in the fourth quarter. State Street Corp now owns 9,295,593 shares of the technology company’s stock valued at $1,366,824,000 after acquiring an additional 60,786 shares during the last quarter. JPMorgan Chase & Co. raised its holdings in AMETEK by 8.5% during the first quarter. JPMorgan Chase & Co. now owns 5,595,759 shares of the technology company’s stock worth $745,243,000 after acquiring an additional 437,235 shares in the last quarter. Finally, Geode Capital Management LLC boosted its position in AMETEK by 4.7% during the fourth quarter. Geode Capital Management LLC now owns 4,379,126 shares of the technology company’s stock valued at $642,259,000 after purchasing an additional 197,644 shares during the last quarter. 85.46% of the stock is currently owned by institutional investors and hedge funds.

AMETEK Trading Down 2.1 %

Shares of AME stock opened at $118.95 on Monday. AMETEK, Inc. has a 12-month low of $106.17 and a 12-month high of $148.07. The company has a market capitalization of $27.31 billion, a PE ratio of 25.31, a price-to-earnings-growth ratio of 2.31 and a beta of 1.26. The firm has a 50 day moving average price of $121.50 and a two-hundred day moving average price of $122.67. The company has a quick ratio of 0.88, a current ratio of 1.48 and a debt-to-equity ratio of 0.31.

AMETEK (NYSE:AMEGet Rating) last released its quarterly earnings results on Tuesday, August 2nd. The technology company reported $1.38 earnings per share for the quarter, topping the consensus estimate of $1.29 by $0.09. The business had revenue of $1.51 billion during the quarter, compared to analysts’ expectations of $1.46 billion. AMETEK had a return on equity of 18.20% and a net margin of 18.49%. The firm’s revenue for the quarter was up 9.2% compared to the same quarter last year. During the same period last year, the firm posted $1.15 EPS. As a group, analysts predict that AMETEK, Inc. will post 5.52 earnings per share for the current year.

AMETEK Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 30th. Shareholders of record on Wednesday, September 14th will be paid a $0.22 dividend. This represents a $0.88 annualized dividend and a yield of 0.74%. The ex-dividend date of this dividend is Tuesday, September 13th. AMETEK’s dividend payout ratio (DPR) is 18.72%.

Wall Street Analyst Weigh In

AME has been the topic of several recent analyst reports. Royal Bank of Canada reaffirmed an “outperform” rating on shares of AMETEK in a research report on Wednesday, August 3rd. StockNews.com upgraded shares of AMETEK from a “hold” rating to a “buy” rating in a research note on Friday. Morgan Stanley boosted their price objective on shares of AMETEK from $135.00 to $145.00 and gave the stock an “overweight” rating in a research note on Wednesday, August 3rd. Bank of America cut shares of AMETEK from a “buy” rating to a “neutral” rating and dropped their target price for the company from $170.00 to $122.00 in a report on Monday, July 11th. Finally, Loop Capital reduced 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. Two equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $148.56.

Insider Buying and Selling at AMETEK

In other news, Director Steven W. Kohlhagen sold 3,100 shares of AMETEK stock in a transaction that occurred on Thursday, September 8th. The shares were sold at an average price of $123.75, for a total value of $383,625.00. Following the completion of the sale, the director now directly owns 42,864 shares in the company, valued at $5,304,420. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. In related news, Director Steven W. Kohlhagen sold 3,000 shares of the company’s stock in a transaction dated Wednesday, August 10th. The shares were sold at an average price of $126.81, for a total transaction of $380,430.00. Following the completion of the sale, the director now owns 45,964 shares of the company’s stock, valued at $5,828,694.84. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Steven W. Kohlhagen sold 3,100 shares of the firm’s stock in a transaction dated Thursday, September 8th. The shares were sold at an average price of $123.75, for a total transaction of $383,625.00. Following the completion of the transaction, the director now directly owns 42,864 shares in the company, valued at $5,304,420. The disclosure for this sale can be found here. Insiders own 0.72% of the company’s stock.

AMETEK Company 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.

See Also

Institutional Ownership by Quarter for AMETEK (NYSE:AME)

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