Jennison Associates LLC decreased its holdings in AMETEK, Inc. (NYSE:AME) by 8.0% during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 889,491 shares of the technology company’s stock after selling 76,960 shares during the quarter. Jennison Associates LLC owned approximately 0.39% of AMETEK worth $80,801,000 as of its most recent filing with the SEC.
Several other large investors have also added to or reduced their stakes in AME. Marshall Wace LLP increased its holdings in AMETEK by 534.0% in the first quarter. Marshall Wace LLP now owns 115,453 shares of the technology company’s stock valued at $9,579,000 after buying an additional 97,244 shares during the last quarter. Mn Services Vermogensbeheer B.V. increased its holdings in AMETEK by 1.5% in the first quarter. Mn Services Vermogensbeheer B.V. now owns 39,907 shares of the technology company’s stock valued at $3,311,000 after buying an additional 600 shares during the last quarter. Origin Asset Management LLP bought a new stake in AMETEK in the first quarter valued at about $14,271,000. Mawer Investment Management Ltd. increased its holdings in AMETEK by 1.1% in the first quarter. Mawer Investment Management Ltd. now owns 2,983,062 shares of the technology company’s stock valued at $247,507,000 after buying an additional 33,839 shares during the last quarter. Finally, Advisory Services Network LLC increased its holdings in AMETEK by 67.4% in the first quarter. Advisory Services Network LLC now owns 2,518 shares of the technology company’s stock valued at $208,000 after buying an additional 1,014 shares during the last quarter. Institutional investors and hedge funds own 86.54% of the company’s stock.
Shares of NYSE:AME traded down $2.15 during trading on Friday, hitting $83.62. 916,598 shares of the company traded hands, compared to its average volume of 1,242,324. The stock has a market capitalization of $19.59 billion, a price-to-earnings ratio of 25.42, a PEG ratio of 2.19 and a beta of 1.22. The business’s fifty day moving average is $88.04 and its 200-day moving average is $84.62. AMETEK, Inc. has a one year low of $63.14 and a one year high of $92.30. The company has a quick ratio of 1.53, a current ratio of 2.17 and a debt-to-equity ratio of 0.51.
The business also recently announced a quarterly dividend, which will be paid on Monday, September 30th. Stockholders of record on Monday, September 16th will be issued a dividend of $0.14 per share. This represents a $0.56 annualized dividend and a dividend yield of 0.67%. The ex-dividend date of this dividend is Friday, September 13th. AMETEK’s dividend payout ratio (DPR) is presently 17.02%.
Several analysts recently weighed in on the company. Royal Bank of Canada set a $95.00 price objective on AMETEK and gave the company a “buy” rating in a report on Wednesday, July 31st. DA Davidson boosted their price objective on AMETEK to $101.00 and gave the company a “buy” rating in a report on Thursday, May 2nd. Morgan Stanley boosted their price objective on AMETEK from $95.00 to $97.00 and gave the company an “overweight” rating in a report on Wednesday, July 31st. KeyCorp boosted their price objective on AMETEK from $94.00 to $100.00 in a report on Wednesday, July 31st. Finally, Vertical Research reissued a “buy” rating on shares of AMETEK in a report on Friday, May 3rd. One research analyst has rated the stock with a hold rating and thirteen have given a buy rating to the company. AMETEK has an average rating of “Buy” and an average target price of $94.36.
In other news, VP Thomas M. Montgomery sold 5,602 shares of the company’s stock in a transaction that occurred on Thursday, June 27th. The stock was sold at an average price of $88.50, for a total transaction of $495,777.00. Following the completion of the transaction, the vice president now directly owns 26,419 shares of the company’s stock, valued at $2,338,081.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider David A. Zapico sold 58,760 shares of the business’s stock in a transaction that occurred on Tuesday, June 11th. The stock was sold at an average price of $86.35, for a total value of $5,073,926.00. Following the transaction, the insider now owns 258,226 shares of the company’s stock, valued at $22,297,815.10. The disclosure for this sale can be found here. Insiders have sold 90,010 shares of company stock valued at $7,786,522 over the last ninety days. Corporate insiders own 0.80% of the company’s stock.
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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