MANA Advisors LLC bought a new position in AMETEK, Inc. (NYSE:AME) in the fourth quarter, HoldingsChannel reports. The fund bought 7,123 shares of the technology company’s stock, valued at approximately $516,000.
A number of other institutional investors and hedge funds have also recently modified their holdings of the business. Acropolis Investment Management LLC acquired a new stake in shares of AMETEK in the fourth quarter valued at about $108,000. Zions Bancorporation acquired a new stake in shares of AMETEK in the third quarter valued at about $150,000. BB&T Investment Services Inc. increased its stake in shares of AMETEK by 42.6% in the third quarter. BB&T Investment Services Inc. now owns 2,633 shares of the technology company’s stock valued at $179,000 after buying an additional 786 shares during the period. 180 Wealth Advisors LLC acquired a new stake in shares of AMETEK in the fourth quarter valued at about $200,000. Finally, First Allied Advisory Services Inc. acquired a new stake in shares of AMETEK in the fourth quarter valued at about $207,000. 84.88% of the stock is owned by institutional investors and hedge funds.
Several equities research analysts have recently weighed in on AME shares. Zacks Investment Research raised AMETEK from a “hold” rating to a “buy” rating and set a $76.00 price target for the company in a research note on Monday, November 13th. Stifel Nicolaus reissued a “buy” rating on shares of AMETEK in a research note on Monday, December 11th. Cowen reissued a “buy” rating and issued a $80.00 price target on shares of AMETEK in a research note on Friday, December 22nd. Oppenheimer reissued a “buy” rating and issued a $75.00 price target on shares of AMETEK in a research note on Thursday, December 21st. Finally, BMO Capital Markets reissued a “buy” rating and issued a $80.00 price target on shares of AMETEK in a research note on Monday, December 11th. One research analyst has rated the stock with a hold rating and twelve have issued a buy rating to the stock. AMETEK currently has a consensus rating of “Buy” and an average price target of $81.64.
AMETEK (NYSE:AME) last released its earnings results on Thursday, February 1st. The technology company reported $0.70 EPS for the quarter, topping the consensus estimate of $0.67 by $0.03. AMETEK had a return on equity of 16.39% and a net margin of 15.85%. The business had revenue of $1.14 billion during the quarter, compared to analysts’ expectations of $1.09 billion. During the same quarter last year, the firm posted $0.58 earnings per share. The firm’s revenue was up 17.5% on a year-over-year basis. analysts forecast that AMETEK, Inc. will post 3.04 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Thursday, March 29th. Investors of record on Friday, March 16th will be paid a dividend of $0.14 per share. The ex-dividend date of this dividend is Thursday, March 15th. This represents a $0.56 annualized dividend and a yield of 0.71%. This is a boost from AMETEK’s previous quarterly dividend of $0.09. AMETEK’s dividend payout ratio (DPR) is currently 12.24%.
In other AMETEK news, Director Elizebeth R. Varet sold 6,295 shares of the stock in a transaction that occurred on Wednesday, February 7th. The stock was sold at an average price of $74.72, for a total value of $470,362.40. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider John Wesley Hardin sold 25,965 shares of the stock in a transaction that occurred on Monday, February 26th. The stock was sold at an average price of $78.50, for a total value of $2,038,252.50. Following the completion of the transaction, the insider now owns 85,663 shares in the company, valued at approximately $6,724,545.50. The disclosure for this sale can be found here. Insiders have sold 95,569 shares of company stock valued at $7,214,506 in the last ninety days. 2.10% of the stock is currently owned by insiders.
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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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