AIA Group Ltd grew its position in AMETEK, Inc. (NYSE:AME – Free Report) by 20.7% in the first quarter, according to its most recent filing with the SEC. The fund owned 35,962 shares of the technology company’s stock after acquiring an additional 6,176 shares during the period. AIA Group Ltd’s holdings in AMETEK were worth $7,709,000 as of its most recent filing with the SEC.
Several other institutional investors and hedge funds have also recently added to or reduced their stakes in AME. Sivia Capital Partners LLC bought a new stake in shares of AMETEK during the 2nd quarter valued at about $295,000. Baird Financial Group Inc. lifted its position in AMETEK by 16.1% in the 2nd quarter. Baird Financial Group Inc. now owns 16,784 shares of the technology company’s stock valued at $3,037,000 after acquiring an additional 2,323 shares in the last quarter. NewEdge Advisors LLC grew its holdings in AMETEK by 65.0% during the second quarter. NewEdge Advisors LLC now owns 3,946 shares of the technology company’s stock worth $714,000 after buying an additional 1,555 shares in the last quarter. Sei Investments Co. grew its stake in shares of AMETEK by 38.2% in the 2nd quarter. Sei Investments Co. now owns 223,227 shares of the technology company’s stock worth $40,392,000 after acquiring an additional 61,672 shares in the last quarter. Finally, Squarepoint Ops LLC lifted its position in shares of AMETEK by 105.3% during the 2nd quarter. Squarepoint Ops LLC now owns 158,274 shares of the technology company’s stock worth $28,641,000 after buying an additional 81,178 shares in the last quarter. 87.43% of the stock is currently owned by institutional investors and hedge funds.
AMETEK Stock Down 0.1%
NYSE:AME opened at $236.66 on Monday. The company has a debt-to-equity ratio of 0.10, a current ratio of 1.14 and a quick ratio of 0.72. The firm’s 50-day moving average price is $231.11 and its 200-day moving average price is $226.52. AMETEK, Inc. has a 1-year low of $175.61 and a 1-year high of $244.71. The company has a market capitalization of $54.24 billion, a PE ratio of 35.75, a P/E/G ratio of 3.32 and a beta of 0.99.
AMETEK Announces Dividend
The firm also recently announced a quarterly dividend, which was paid on Tuesday, June 30th. Shareholders of record on Monday, June 15th were issued a dividend of $0.34 per share. This represents a $1.36 annualized dividend and a yield of 0.6%. The ex-dividend date was Monday, June 15th. AMETEK’s dividend payout ratio is presently 20.54%.
Wall Street Analyst Weigh In
Several brokerages have weighed in on AME. Barclays increased their price objective on AMETEK from $220.00 to $230.00 and gave the company an “equal weight” rating in a report on Monday, May 4th. Citigroup started coverage on AMETEK in a research report on Monday, June 15th. They set a “neutral” rating and a $257.00 target price for the company. Weiss Ratings raised shares of AMETEK from a “buy (b-)” rating to a “buy (b)” rating in a report on Monday, June 29th. Robert W. Baird set a $244.00 target price on AMETEK in a research report on Friday, May 1st. Finally, Royal Bank Of Canada upped their price target on shares of AMETEK from $259.00 to $260.00 and gave the company an “outperform” rating in a research report on Friday, May 1st. One analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and five have issued a Hold rating to the stock. According to MarketBeat.com, AMETEK presently has a consensus rating of “Moderate Buy” and an average price target of $256.29.
Read Our Latest Research Report on AME
AMETEK Profile
AMETEK, Inc is a global manufacturer of electronic instruments and electromechanical devices that serves a broad range of industries. Headquartered in Berwyn, Pennsylvania, the company designs and produces precision instruments, electronic measurement devices, specialty sensors, and electric motors and motion control systems. Its product portfolio includes analytical and monitoring instruments, calibration equipment, power supplies, embedded electronics, and industrial motors and drives used for critical applications.
The company operates through two primary business platforms — an electronic instruments group focused on analytical, test and measurement and sensor products, and an electromechanical group that supplies motors, actuators, and related power and motion solutions.
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