O Shaughnessy Asset Management LLC lifted its position in AMETEK, Inc. (NYSE:AME) by 27.4% during the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 1,375 shares of the technology company’s stock after purchasing an additional 296 shares during the quarter. O Shaughnessy Asset Management LLC’s holdings in AMETEK were worth $184,000 at the end of the most recent quarter.
Other institutional investors have also recently added to or reduced their stakes in the company. TIAA FSB bought a new position in shares of AMETEK in the second quarter worth $14,037,000. Weiss Multi Strategy Advisers LLC increased its holdings in shares of AMETEK by 17.0% in the first quarter. Weiss Multi Strategy Advisers LLC now owns 148,351 shares of the technology company’s stock worth $18,949,000 after purchasing an additional 21,586 shares during the period. New Mexico Educational Retirement Board increased its holdings in shares of AMETEK by 5.5% in the second quarter. New Mexico Educational Retirement Board now owns 15,350 shares of the technology company’s stock worth $2,049,000 after purchasing an additional 800 shares during the period. Royal Bank of Canada increased its holdings in shares of AMETEK by 10.9% in the first quarter. Royal Bank of Canada now owns 608,620 shares of the technology company’s stock worth $77,738,000 after purchasing an additional 59,975 shares during the period. Finally, Tuttle Tactical Management bought a new position in shares of AMETEK in the second quarter worth $1,779,000. 87.18% of the stock is currently owned by hedge funds and other institutional investors.
NYSE AME opened at $127.76 on Tuesday. The company has a 50-day simple moving average of $135.38 and a two-hundred day simple moving average of $133.02. The company has a quick ratio of 0.72, a current ratio of 1.10 and a debt-to-equity ratio of 0.36. AMETEK, Inc. has a 12-month low of $94.90 and a 12-month high of $140.10. The firm has a market cap of $29.54 billion, a price-to-earnings ratio of 33.89, a PEG ratio of 2.65 and a beta of 1.33.
The firm also recently declared a quarterly dividend, which will be paid on Thursday, September 30th. Shareholders of record on Tuesday, September 14th will be given a dividend of $0.20 per share. The ex-dividend date of this dividend is Monday, September 13th. This represents a $0.80 annualized dividend and a yield of 0.63%. AMETEK’s payout ratio is 20.25%.
In other news, insider John Wesley Hardin sold 3,000 shares of the stock in a transaction dated Wednesday, June 30th. The shares were sold at an average price of $133.44, for a total transaction of $400,320.00. Following the completion of the sale, the insider now directly owns 57,648 shares in the company, valued at $7,692,549.12. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Steven W. Kohlhagen sold 5,160 shares of the firm’s stock in a transaction dated Wednesday, September 8th. The stock was sold at an average price of $132.28, for a total transaction of $682,564.80. The disclosure for this sale can be found here. Corporate insiders own 0.70% of the company’s stock.
A number of research analysts recently commented on the company. Rosenblatt Securities increased their target price on AMETEK from $155.00 to $160.00 and gave the company a “buy” rating in a research note on Wednesday, August 4th. Zacks Investment Research raised AMETEK from a “hold” rating to a “buy” rating and set a $143.00 target price on the stock in a research note on Monday, June 14th. Wells Fargo & Company increased their target price on AMETEK from $170.00 to $175.00 and gave the company an “overweight” rating in a research note on Wednesday, August 4th. Robert W. Baird raised AMETEK to a “hold” rating in a research note on Thursday, August 5th. Finally, Morgan Stanley increased their target price on AMETEK from $151.00 to $156.00 and gave the company an “overweight” rating in a research note on Wednesday, August 4th. One research analyst has rated the stock with a hold rating and six have issued a buy rating to the company. According to MarketBeat, AMETEK presently has a consensus rating of “Buy” and a consensus price target of $158.50.
AMETEK, Inc engages in the manufacture of electronic instruments and electromechanical devices. It operates through the following two segments: Electronic Instruments and Electromechanical. The Electronic Instruments segment designs and manufactures advanced instruments for the process, aerospace, power and industrial markets.
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