Keybank National Association OH reduced its position in shares of AMETEK, Inc. (NYSE:AME) by 35.2% during the 4th quarter, HoldingsChannel reports. The fund owned 3,406 shares of the technology company’s stock after selling 1,854 shares during the quarter. Keybank National Association OH’s holdings in AMETEK were worth $247,000 as of its most recent filing with the Securities and Exchange Commission.
Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Acropolis Investment Management LLC bought a new stake in AMETEK during the fourth quarter worth $108,000. Zions Bancorporation bought a new stake in AMETEK during the third quarter worth $150,000. BB&T Investment Services Inc. raised its position in AMETEK by 42.6% during the third quarter. BB&T Investment Services Inc. now owns 2,633 shares of the technology company’s stock worth $179,000 after acquiring an additional 786 shares in the last quarter. Parkwood LLC bought a new stake in AMETEK during the third quarter worth $200,000. Finally, Catawba Capital Management VA bought a new stake in AMETEK during the fourth quarter worth $208,000. 85.25% of the stock is currently owned by hedge funds and other institutional investors.
AMETEK, Inc. (NYSE:AME) opened at $77.68 on Wednesday. AMETEK, Inc. has a fifty-two week low of $52.42 and a fifty-two week high of $79.10. The company has a market cap of $18,136.63, a price-to-earnings ratio of 30.04, a price-to-earnings-growth ratio of 2.24 and a beta of 1.32. The company has a debt-to-equity ratio of 0.46, a current ratio of 1.70 and a quick ratio of 1.22.
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, March 29th. Shareholders of record on Friday, March 16th will be issued a $0.14 dividend. This is an increase from AMETEK’s previous quarterly dividend of $0.09. This represents a $0.56 annualized dividend and a dividend yield of 0.72%. The ex-dividend date of this dividend is Thursday, March 15th. AMETEK’s payout ratio is currently 12.24%.
In other AMETEK news, insider David A. Zapico sold 25,965 shares of the company’s stock in a transaction on Monday, December 11th. The shares were sold at an average price of $71.77, for a total value of $1,863,508.05. Following the transaction, the insider now directly owns 200,548 shares in the company, valued at $14,393,329.96. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, VP William D. Eginton sold 16,368 shares of the company’s stock in a transaction on Monday, February 5th. The shares were sold at an average price of $77.00, for a total transaction of $1,260,336.00. Following the completion of the transaction, the vice president now owns 59,054 shares in the company, valued at $4,547,158. The disclosure for this sale can be found here. Over the last quarter, insiders sold 95,569 shares of company stock worth $7,214,506. Corporate insiders own 2.10% of the company’s stock.
Several analysts have issued reports on the stock. Zacks Investment Research raised shares of AMETEK from a “hold” rating to a “buy” rating and set a $87.00 price target on the stock in a research report on Monday, February 5th. Robert W. Baird upped their price target on shares of AMETEK from $70.00 to $77.00 and gave the stock an “outperform” rating in a research report on Friday, November 3rd. BMO Capital Markets reaffirmed a “buy” rating and set a $88.00 price target on shares of AMETEK in a research report on Friday, January 26th. Wells Fargo & Co set a $88.00 price target on shares of AMETEK and gave the stock a “buy” rating in a research report on Thursday, January 18th. Finally, KeyCorp upped their price target on shares of AMETEK from $82.00 to $86.00 and gave the stock an “overweight” rating in a research report on Friday, February 2nd. One equities research analyst has rated the stock with a hold rating and eleven have assigned a buy rating to the company. The stock currently has an average rating of “Buy” and an average price target of $81.64.
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AMETEK Company Profile
AMETEK, Inc is a manufacturer of electronic instruments and electromechanical devices with operations in North America, Europe, Asia and South America. The Company operates through two segments: Electronic Instruments (EIG) and Electromechanical (EMG). EIG designs and manufactures instruments for the process, power and industrial and aerospace markets.
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