ING Groep NV cut its stake in AMETEK, Inc. (NYSE:AME – Free Report) by 67.7% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 29,751 shares of the technology company’s stock after selling 62,306 shares during the period. ING Groep NV’s holdings in AMETEK were worth $6,108,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in AME. Darwin Wealth Management LLC acquired a new position in AMETEK in the 2nd quarter worth $25,000. CoreCap Advisors LLC boosted its stake in AMETEK by 84.3% in the 4th quarter. CoreCap Advisors LLC now owns 129 shares of the technology company’s stock worth $26,000 after purchasing an additional 59 shares during the period. BOKF NA boosted its stake in AMETEK by 137.7% in the 4th quarter. BOKF NA now owns 145 shares of the technology company’s stock worth $30,000 after purchasing an additional 84 shares during the period. Flagship Harbor Advisors LLC acquired a new position in AMETEK in the 4th quarter worth $32,000. Finally, ORG Partners LLC boosted its stake in AMETEK by 42.6% in the 4th quarter. ORG Partners LLC now owns 201 shares of the technology company’s stock worth $41,000 after purchasing an additional 60 shares during the period. 87.43% of the stock is owned by institutional investors and hedge funds.
AMETEK Trading Down 0.3%
Shares of NYSE:AME opened at $225.95 on Tuesday. AMETEK, Inc. has a 52-week low of $174.43 and a 52-week high of $243.18. The company has a market capitalization of $51.79 billion, a P/E ratio of 34.13, a price-to-earnings-growth ratio of 3.18 and a beta of 1.00. The company has a 50-day simple moving average of $227.83 and a 200 day simple moving average of $219.62. The company has a debt-to-equity ratio of 0.10, a quick ratio of 0.72 and a current ratio of 1.14.
AMETEK Dividend Announcement
The company also recently announced a quarterly dividend, which will be paid on Tuesday, June 30th. Investors of record on Monday, June 15th will be paid a $0.34 dividend. This represents a $1.36 annualized dividend and a yield of 0.6%. The ex-dividend date is Monday, June 15th. AMETEK’s dividend payout ratio (DPR) is 20.54%.
Wall Street Analysts Forecast Growth
A number of brokerages recently weighed in on AME. Wall Street Zen lowered shares of AMETEK from a “buy” rating to a “hold” rating in a research note on Sunday, May 10th. Barclays increased their price objective on shares of AMETEK from $220.00 to $230.00 and gave the stock an “equal weight” rating in a research note on Monday, May 4th. DA Davidson restated a “buy” rating and set a $265.00 price objective on shares of AMETEK in a research note on Monday, May 4th. Mizuho set a $270.00 price objective on shares of AMETEK in a research note on Friday, May 1st. Finally, Robert W. Baird set a $244.00 price objective on shares of AMETEK in a research note on Friday, May 1st. One research analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and four have assigned a Hold rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $252.33.
View Our Latest Stock Analysis on AMETEK
Insider Transactions at AMETEK
In related news, Director Thomas A. Amato sold 530 shares of the firm’s stock in a transaction dated Tuesday, March 24th. The shares were sold at an average price of $216.78, for a total value of $114,893.40. Following the completion of the sale, the director directly owned 4,480 shares in the company, valued at approximately $971,174.40. This trade represents a 10.58% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Company insiders own 0.54% of the company’s stock.
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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