Natixis Advisors L.P. boosted its position in shares of AMETEK, Inc. (NYSE:AME) by 1.1% during the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 25,134 shares of the technology company’s stock after purchasing an additional 279 shares during the period. Natixis Advisors L.P.’s holdings in AMETEK were worth $1,701,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Oregon Public Employees Retirement Fund grew its position in AMETEK by 6,587.0% during the 4th quarter. Oregon Public Employees Retirement Fund now owns 1,702,384 shares of the technology company’s stock worth $25,000 after purchasing an additional 1,676,926 shares in the last quarter. IFP Advisors Inc grew its position in AMETEK by 76.4% during the 4th quarter. IFP Advisors Inc now owns 441 shares of the technology company’s stock worth $29,000 after purchasing an additional 191 shares in the last quarter. Laurel Wealth Advisors LLC purchased a new position in AMETEK during the 4th quarter worth approximately $32,000. SRS Capital Advisors Inc. grew its position in AMETEK by 183.7% during the 4th quarter. SRS Capital Advisors Inc. now owns 749 shares of the technology company’s stock worth $51,000 after purchasing an additional 485 shares in the last quarter. Finally, Financial Gravity Companies Inc. purchased a new position in AMETEK during the 4th quarter worth approximately $65,000. Hedge funds and other institutional investors own 85.02% of the company’s stock.
AMETEK stock opened at $79.41 on Friday. The company has a debt-to-equity ratio of 0.54, a quick ratio of 0.96 and a current ratio of 1.46. AMETEK, Inc. has a 12 month low of $63.14 and a 12 month high of $82.32. The firm has a market cap of $18.07 billion, a PE ratio of 24.14, a P/E/G ratio of 2.12 and a beta of 1.20.
AMETEK announced that its board has initiated a stock repurchase plan on Wednesday, February 13th that allows the company to repurchase $500.00 million in shares. This repurchase authorization allows the technology company to reacquire up to 2.8% of its shares through open market purchases. Shares repurchase plans are generally an indication that the company’s management believes its shares are undervalued.
The business also recently declared a quarterly dividend, which will be paid on Friday, March 29th. Stockholders of record on Friday, March 15th will be issued a dividend of $0.14 per share. This represents a $0.56 annualized dividend and a dividend yield of 0.71%. The ex-dividend date of this dividend is Thursday, March 14th. AMETEK’s dividend payout ratio is currently 17.02%.
In related news, Director Elizebeth R. Varet sold 2,000 shares of AMETEK stock in a transaction on Friday, September 13th. The shares were sold at an average price of $80.75, for a total value of $161,500.00. Following the completion of the sale, the director now owns 104,810 shares of the company’s stock, valued at approximately $8,463,407.50. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Elizebeth R. Varet sold 4,050 shares of AMETEK stock in a transaction on Saturday, September 7th. The shares were sold at an average price of $78.65, for a total transaction of $318,532.50. Following the completion of the sale, the director now directly owns 104,810 shares of the company’s stock, valued at approximately $8,243,306.50. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 114,563 shares of company stock worth $9,102,354. 0.80% of the stock is currently owned by corporate insiders.
Several research firms have recently commented on AME. Zacks Investment Research upgraded shares of AMETEK from a “hold” rating to a “buy” rating and set a $84.00 price target on the stock in a report on Friday, February 8th. DA Davidson boosted their price target on shares of AMETEK to $92.00 and gave the company a “buy” rating in a report on Friday, March 15th. BMO Capital Markets restated a “buy” rating and set a $90.00 price target on shares of AMETEK in a report on Tuesday, January 29th. Cowen restated a “buy” rating and set a $91.00 price target on shares of AMETEK in a report on Wednesday, December 12th. Finally, Royal Bank of Canada restated a “buy” rating and set a $82.00 price target on shares of AMETEK in a report on Wednesday, December 19th. Twelve research analysts have rated the stock with a buy rating, The company has an average rating of “Buy” and an average target price of $86.80.
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AMETEK, Inc manufactures and sells electronic instruments and electromechanical devices worldwide. The company's Electronic Instruments segment offers advanced instruments for the process, aerospace, power, and industrial markets; process control instruments for the oil and gas, petrochemical, pharmaceutical, semiconductor, automation, and food and beverage industries; and instruments to the laboratory equipment, ultra-precision manufacturing, medical, and test and measurement markets.
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