AMETEK, Inc. (AME) Position Increased by Millennium Management LLC

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Millennium Management LLC boosted its holdings in shares of AMETEK, Inc. (NYSE:AME) by 169.1% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 1,647,306 shares of the technology company’s stock after purchasing an additional 1,035,084 shares during the quarter. Millennium Management LLC owned about 0.71% of AMETEK worth $118,870,000 at the end of the most recent quarter.

A number of other large investors have also made changes to their positions in AME. Fjarde AP Fonden Fourth Swedish National Pension Fund lifted its position in shares of AMETEK by 1.0% in the 2nd quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund now owns 73,586 shares of the technology company’s stock worth $5,310,000 after acquiring an additional 702 shares during the period. Elk Creek Partners LLC lifted its position in shares of AMETEK by 17.1% in the 1st quarter. Elk Creek Partners LLC now owns 5,061 shares of the technology company’s stock worth $384,000 after acquiring an additional 739 shares during the period. BB&T Securities LLC lifted its position in shares of AMETEK by 10.9% in the 2nd quarter. BB&T Securities LLC now owns 7,908 shares of the technology company’s stock worth $570,000 after acquiring an additional 779 shares during the period. Riverhead Capital Management LLC lifted its position in shares of AMETEK by 9.9% in the 2nd quarter. Riverhead Capital Management LLC now owns 9,293 shares of the technology company’s stock worth $670,000 after acquiring an additional 836 shares during the period. Finally, Gulf International Bank UK Ltd lifted its position in shares of AMETEK by 1.2% in the 1st quarter. Gulf International Bank UK Ltd now owns 71,420 shares of the technology company’s stock worth $5,425,000 after acquiring an additional 850 shares during the period. Hedge funds and other institutional investors own 85.12% of the company’s stock.

In other news, VP William Joseph Burke sold 15,600 shares of the stock in a transaction that occurred on Tuesday, September 11th. The stock was sold at an average price of $80.00, for a total value of $1,248,000.00. Following the completion of the transaction, the vice president now directly owns 68,289 shares of the company’s stock, valued at approximately $5,463,120. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Elizebeth R. Varet sold 3,000 shares of the stock in a transaction that occurred on Thursday, July 5th. The stock was sold at an average price of $72.07, for a total value of $216,210.00. Following the completion of the transaction, the director now directly owns 113,810 shares of the company’s stock, valued at $8,202,286.70. The disclosure for this sale can be found here. Over the last three months, insiders sold 36,970 shares of company stock valued at $2,891,890. 2.10% of the stock is currently owned by insiders.

Shares of AME opened at $80.83 on Friday. AMETEK, Inc. has a 1 year low of $64.81 and a 1 year high of $81.18. The company has a quick ratio of 1.19, a current ratio of 1.71 and a debt-to-equity ratio of 0.42. The company has a market capitalization of $18.49 billion, a PE ratio of 30.97, a P/E/G ratio of 2.27 and a beta of 1.21.

AMETEK (NYSE:AME) last issued its earnings results on Tuesday, July 31st. The technology company reported $0.83 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.78 by $0.05. AMETEK had a return on equity of 16.94% and a net margin of 16.65%. The business had revenue of $1.21 billion during the quarter, compared to analysts’ expectations of $1.19 billion. During the same period in the prior year, the firm posted $0.65 EPS. AMETEK’s quarterly revenue was up 13.6% compared to the same quarter last year. equities research analysts expect that AMETEK, Inc. will post 3.21 earnings per share for the current year.

The business also recently announced a quarterly dividend, which will be paid on Friday, September 28th. Stockholders of record on Friday, September 14th will be issued a $0.14 dividend. The ex-dividend date of this dividend is Thursday, September 13th. This represents a $0.56 dividend on an annualized basis and a dividend yield of 0.69%. AMETEK’s payout ratio is presently 21.46%.

A number of brokerages have commented on AME. Royal Bank of Canada reiterated a “buy” rating and issued a $86.00 price objective on shares of AMETEK in a research report on Wednesday, August 1st. Morgan Stanley raised their price objective on AMETEK from $79.00 to $84.00 and gave the stock an “equal weight” rating in a research report on Wednesday, August 1st. BMO Capital Markets raised their price objective on AMETEK from $92.00 to $93.00 and gave the stock an “outperform” rating in a research report on Wednesday, August 1st. ValuEngine upgraded AMETEK from a “hold” rating to a “buy” rating in a research report on Thursday, August 2nd. Finally, Oppenheimer raised their price objective on AMETEK from $85.00 to $90.00 and gave the stock an “outperform” rating in a research report on Wednesday, August 1st. Two equities research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. The stock has an average rating of “Buy” and a consensus target price of $86.08.

AMETEK Company Profile

AMETEK, Inc manufactures and sells electronic instruments and electromechanical devices worldwide. Its Electronic Instruments Group segment offers advanced instruments for the process, power and industrial, and aerospace markets; process and analytical instruments for the oil, gas, petrochemical, pharmaceutical, semiconductor, automation, and food and beverage markets; and instruments for the laboratory equipment, ultraprecision manufacturing, medical, and test and measurement markets.

Further Reading: Technical Analysis of Stocks and What It Means

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Institutional Ownership by Quarter for AMETEK (NYSE:AME)

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