Dimensional Fund Advisors LP raised its holdings in AMETEK, Inc. (NYSE:AME – Free Report) by 1.4% during the 1st quarter, HoldingsChannel.com reports. The fund owned 2,075,229 shares of the technology company’s stock after acquiring an additional 29,001 shares during the quarter. Dimensional Fund Advisors LP’s holdings in AMETEK were worth $444,788,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors also recently modified their holdings of the business. Y.D. More Investments Ltd purchased a new position in shares of AMETEK in the fourth quarter valued at about $1,653,000. Mitsubishi UFJ Asset Management Co. Ltd. boosted its holdings in shares of AMETEK by 6.2% during the fourth quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 487,238 shares of the technology company’s stock worth $101,901,000 after purchasing an additional 28,621 shares during the period. Massachusetts Financial Services Co. MA grew its stake in shares of AMETEK by 10.9% in the fourth quarter. Massachusetts Financial Services Co. MA now owns 959,937 shares of the technology company’s stock worth $197,085,000 after purchasing an additional 94,544 shares during the last quarter. United Super Pty Ltd in its capacity as Trustee for the Construction & Building Unions Superannuation Fund purchased a new position in AMETEK during the 4th quarter valued at about $1,027,000. Finally, Nordea Investment Management AB increased its holdings in AMETEK by 825.0% during the 4th quarter. Nordea Investment Management AB now owns 852,585 shares of the technology company’s stock valued at $176,153,000 after purchasing an additional 760,410 shares during the period. Hedge funds and other institutional investors own 87.43% of the company’s stock.
AMETEK Stock Down 0.6%
NYSE:AME opened at $235.60 on Tuesday. 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 $231.18 and its 200-day moving average price is $226.73. The company has a market capitalization of $54.00 billion, a PE ratio of 35.59, a P/E/G ratio of 3.32 and a beta of 0.99. AMETEK, Inc. has a 1-year low of $175.61 and a 1-year high of $244.71.
AMETEK Announces Dividend
The firm also recently announced a quarterly dividend, which was paid on Tuesday, June 30th. Stockholders of record on Monday, June 15th were issued a dividend of $0.34 per share. This represents a $1.36 annualized dividend and a dividend yield of 0.6%. The ex-dividend date was Monday, June 15th. AMETEK’s dividend payout ratio (DPR) is presently 20.54%.
Wall Street Analysts Forecast Growth
Several equities research analysts have weighed in on the company. Royal Bank Of Canada increased their price objective on AMETEK from $259.00 to $260.00 and gave the stock an “outperform” rating in a report on Friday, May 1st. Robert W. Baird set a $244.00 target price on AMETEK in a research note on Friday, May 1st. Weiss Ratings upgraded AMETEK from a “buy (b-)” rating to a “buy (b)” rating in a report on Monday, June 29th. Mizuho set a $270.00 price target on AMETEK in a research note on Friday, May 1st. Finally, DA Davidson reiterated a “buy” rating and issued a $265.00 price target on shares of AMETEK in a report on Monday, May 4th. One analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and five have issued a Hold rating to the company’s stock. Based on data from MarketBeat, AMETEK currently has an average rating of “Moderate Buy” and an average target price of $256.29.
Read Our Latest Research Report on AME
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.
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