Bridgefront Capital LLC lowered its stake in shares of AMETEK, Inc. (NYSE:AME – Free Report) by 56.1% during the 3rd quarter, according to the company in its most recent filing with the SEC. The fund owned 3,002 shares of the technology company’s stock after selling 3,832 shares during the quarter. Bridgefront Capital LLC’s holdings in AMETEK were worth $564,000 at the end of the most recent quarter.
A number of other institutional investors also recently bought and sold shares of the stock. Sivia Capital Partners LLC purchased a new position in AMETEK during the second quarter worth $295,000. AE Wealth Management LLC purchased a new stake in shares of AMETEK in the second quarter valued at $288,000. Los Angeles Capital Management LLC purchased a new stake in shares of AMETEK in the second quarter valued at $202,000. Commonwealth of Pennsylvania Public School Empls Retrmt SYS lifted its holdings in shares of AMETEK by 7.0% in the 2nd quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 56,624 shares of the technology company’s stock worth $10,247,000 after acquiring an additional 3,727 shares during the last quarter. Finally, Creative Planning boosted its stake in shares of AMETEK by 20.0% during the 2nd quarter. Creative Planning now owns 35,022 shares of the technology company’s stock worth $6,338,000 after purchasing an additional 5,826 shares during the period. 87.43% of the stock is currently owned by institutional investors.
AMETEK Trading Down 0.6%
Shares of AME opened at $214.35 on Monday. The firm has a market capitalization of $49.10 billion, a price-to-earnings ratio of 33.49, a PEG ratio of 3.07 and a beta of 1.02. The company has a debt-to-equity ratio of 0.10, a current ratio of 1.06 and a quick ratio of 0.67. AMETEK, Inc. has a 1-year low of $145.02 and a 1-year high of $242.05. The company has a 50-day moving average of $224.77 and a 200 day moving average of $204.24.
AMETEK Increases Dividend
The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 31st. Shareholders of record on Monday, March 16th will be 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 is Monday, March 16th. This is an increase from AMETEK’s previous quarterly dividend of $0.31. AMETEK’s dividend payout ratio (DPR) is 19.38%.
Analyst Ratings Changes
Several equities analysts recently commented on AME shares. Oppenheimer downgraded shares of AMETEK from an “outperform” rating to a “market perform” rating in a report on Tuesday, January 27th. Melius Research set a $235.00 target price on AMETEK in a research report on Monday, January 5th. Royal Bank Of Canada reaffirmed an “outperform” rating and set a $257.00 target price on shares of AMETEK in a research note on Wednesday, February 4th. Morgan Stanley increased their price target on AMETEK from $215.00 to $235.00 and gave the stock an “equal weight” rating in a report on Thursday. Finally, Wall Street Zen raised AMETEK from a “hold” rating to a “buy” rating in a research note on Sunday, February 22nd. One investment analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and four have given a Hold rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $244.82.
View Our Latest Report on AMETEK
Insider Buying and Selling
In other AMETEK news, VP Thomas M. Montgomery sold 6,388 shares of AMETEK stock in a transaction on Monday, December 22nd. The stock was sold at an average price of $205.05, for a total transaction of $1,309,859.40. Following the completion of the sale, the vice president directly owned 22,116 shares of the company’s stock, valued at $4,534,885.80. The trade was a 22.41% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.57% of the stock is owned by insiders.
About AMETEK
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.
Recommended Stories
- Five stocks we like better than AMETEK
- The $8,000 Gold Call Every Retirement Saver Needs to Read Right Now
- A personal warning from Martin Weiss (Please read)
- Elon Musk: This Could Turn $100 into $100,000
- ~$1.5T SpaceX IPO: Pre-IPO Opportunity
- America’s gold reserves are priced at $42. The real price is $6,000+.
Want to see what other hedge funds are holding AME? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for AMETEK, Inc. (NYSE:AME – Free Report).
Receive News & Ratings for AMETEK Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for AMETEK and related companies with MarketBeat.com's FREE daily email newsletter.
