Los Angeles Capital Management LLC trimmed its holdings in AMETEK, Inc. (NYSE:AME – Get Rating) by 1.9% during the first quarter, Holdings Channel reports. The firm owned 112,401 shares of the technology company’s stock after selling 2,226 shares during the quarter. Los Angeles Capital Management LLC’s holdings in AMETEK were worth $14,970,000 at the end of the most recent quarter.
Other institutional investors and hedge funds also recently made changes to their positions in the company. CWM LLC bought a new position in shares of AMETEK during the 4th quarter worth approximately $84,000. Nomura Asset Management Co. Ltd. boosted its stake in AMETEK by 5.9% during the fourth quarter. Nomura Asset Management Co. Ltd. now owns 48,857 shares of the technology company’s stock worth $7,184,000 after acquiring an additional 2,733 shares in the last quarter. FDx Advisors Inc. acquired a new stake in AMETEK in the fourth quarter worth $226,000. Mount Yale Investment Advisors LLC bought a new stake in AMETEK in the fourth quarter valued at $550,000. Finally, Oppenheimer & Co. Inc. raised its holdings in shares of AMETEK by 1.3% during the fourth quarter. Oppenheimer & Co. Inc. now owns 16,575 shares of the technology company’s stock valued at $2,437,000 after purchasing an additional 217 shares during the period. Institutional investors own 86.72% of the company’s stock.
AMETEK Stock Performance
NYSE AME opened at $126.25 on Friday. The company has a fifty day moving average price of $115.29 and a 200-day moving average price of $124.48. The firm has a market cap of $28.98 billion, a price-to-earnings ratio of 26.86, a PEG ratio of 2.43 and a beta of 1.26. The company has a debt-to-equity ratio of 0.31, a current ratio of 1.48 and a quick ratio of 0.88. AMETEK, Inc. has a 1 year low of $106.17 and a 1 year high of $148.07.
AMETEK declared that its board has authorized a stock buyback plan on Friday, May 6th that authorizes the company to buyback $1.00 billion in shares. This buyback authorization authorizes the technology company to reacquire up to 3.6% of its stock through open market purchases. Stock buyback plans are typically an indication that the company’s board believes its shares are undervalued.
AMETEK Announces Dividend
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 30th. Shareholders of record on Wednesday, September 14th will be paid a $0.22 dividend. This represents a $0.88 dividend on an annualized basis and a yield of 0.70%. AMETEK’s dividend payout ratio (DPR) is presently 18.72%.
Analyst Ratings Changes
A number of analysts recently commented on AME shares. Royal Bank of Canada reaffirmed an “outperform” rating on shares of AMETEK in a research report on Wednesday. KeyCorp decreased their price objective on AMETEK from $155.00 to $145.00 in a report on Wednesday, May 4th. Robert W. Baird cut their target price on AMETEK from $156.00 to $140.00 and set a “neutral” rating on the stock in a report on Tuesday, May 10th. Morgan Stanley upped their price objective on shares of AMETEK from $135.00 to $145.00 and gave the stock an “overweight” rating in a report on Wednesday. Finally, Bank of America cut shares of AMETEK from a “buy” rating to a “neutral” rating and reduced their price objective for the company from $170.00 to $122.00 in a report on Monday, July 11th. Three analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $147.13.
AMETEK Company Profile
AMETEK, Inc manufactures and sells electronic instruments and electromechanical devices worldwide. It operates in two segments, Electronic Instruments (EIG) and Electromechanical (EMG). The company's EIG segment offers advanced instruments for the process, aerospace, power, and industrial markets; process and analytical 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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