Nordea Investment Management AB lifted its position in AMETEK, Inc. (NYSE:AME – Free Report) by 825.0% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 852,585 shares of the technology company’s stock after purchasing an additional 760,410 shares during the quarter. Nordea Investment Management AB owned about 0.37% of AMETEK worth $176,153,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in AME. Darwin Wealth Management LLC purchased a new stake in shares of AMETEK during the 2nd quarter worth approximately $25,000. TruNorth Capital Management LLC purchased a new position in shares of AMETEK in the third quarter valued at $31,000. Grey Fox Wealth Advisors LLC bought a new stake in AMETEK in the third quarter worth $39,000. Westside Investment Management Inc. raised its stake in AMETEK by 100.0% during the third quarter. Westside Investment Management Inc. now owns 224 shares of the technology company’s stock valued at $42,000 after purchasing an additional 112 shares in the last quarter. Finally, Sound Income Strategies LLC lifted its position in AMETEK by 4,420.0% during the third quarter. Sound Income Strategies LLC now owns 226 shares of the technology company’s stock valued at $41,000 after purchasing an additional 221 shares during the last quarter. 87.43% of the stock is owned by institutional investors.
AMETEK Price Performance
AME stock opened at $209.32 on Monday. The stock has a market cap of $47.95 billion, a PE ratio of 32.71, a P/E/G ratio of 2.99 and a beta of 1.02. AMETEK, Inc. has a 12 month low of $145.02 and a 12 month high of $242.05. The company has a 50-day moving average price of $224.90 and a 200 day moving average price of $205.22. The company has a current ratio of 1.06, a quick ratio of 0.67 and a debt-to-equity ratio of 0.10.
AMETEK Increases Dividend
The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 31st. Investors of record on Monday, March 16th will be issued a dividend of $0.34 per share. This represents a $1.36 dividend on an annualized basis 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 presently 21.25%.
Wall Street Analyst Weigh In
AME has been the topic of a number of research reports. Deutsche Bank Aktiengesellschaft initiated coverage on shares of AMETEK in a report on Wednesday, January 21st. They issued a “buy” rating and a $271.00 target price on the stock. Morgan Stanley lifted their price target on AMETEK from $215.00 to $235.00 and gave the stock an “equal weight” rating in a research report on Thursday, March 12th. Mizuho set a $235.00 price objective on AMETEK in a research note on Wednesday, February 4th. DA Davidson reaffirmed a “buy” rating and issued a $240.00 price objective on shares of AMETEK in a research note on Wednesday, February 4th. Finally, Wall Street Zen upgraded AMETEK from a “hold” rating to a “buy” rating in a report on Sunday, February 22nd. One equities research 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 stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $244.82.
Check Out Our Latest Analysis on AME
AMETEK Company 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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