Element Capital Management LLC acquired a new position in shares of AMETEK, Inc. (NYSE:AME – Free Report) in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 2,676 shares of the technology company’s stock, valued at approximately $503,000. AMETEK accounts for 0.7% of Element Capital Management LLC’s investment portfolio, making the stock its 22nd biggest holding.
Other large investors also recently modified their holdings of the company. Banco Bilbao Vizcaya Argentaria S.A. boosted its holdings in shares of AMETEK by 37.7% during the 3rd quarter. Banco Bilbao Vizcaya Argentaria S.A. now owns 6,763 shares of the technology company’s stock worth $1,271,000 after buying an additional 1,850 shares during the period. California Public Employees Retirement System raised its holdings in AMETEK by 0.5% in the 3rd quarter. California Public Employees Retirement System now owns 434,762 shares of the technology company’s stock valued at $81,735,000 after acquiring an additional 2,304 shares during the period. Chilton Investment Co. Inc. raised its holdings in AMETEK by 32.8% in the 3rd quarter. Chilton Investment Co. Inc. now owns 1,575 shares of the technology company’s stock valued at $296,000 after acquiring an additional 389 shares during the period. Bank of Nova Scotia lifted its position in AMETEK by 30.4% during the third quarter. Bank of Nova Scotia now owns 135,015 shares of the technology company’s stock worth $25,383,000 after acquiring an additional 31,443 shares during the last quarter. Finally, Alliancebernstein L.P. boosted its holdings in shares of AMETEK by 0.9% during the third quarter. Alliancebernstein L.P. now owns 285,073 shares of the technology company’s stock worth $53,594,000 after acquiring an additional 2,511 shares during the period. 87.43% of the stock is owned by institutional investors.
AMETEK Price Performance
Shares of NYSE AME opened at $214.35 on Friday. The business has a fifty day moving average price of $224.77 and a two-hundred day moving average price of $204.12. The stock has a market capitalization of $49.10 billion, a PE ratio of 33.49, a P/E/G ratio of 3.07 and a beta of 1.02. The company has a debt-to-equity ratio of 0.10, a current ratio of 1.06 and a quick ratio of 0.67. AMETEK, Inc. has a fifty-two week low of $145.02 and a fifty-two week high of $242.05.
AMETEK Increases Dividend
The company also recently announced a quarterly dividend, which will be paid on Tuesday, March 31st. Shareholders of record on Monday, March 16th will be issued a $0.34 dividend. The ex-dividend date of this dividend is Monday, March 16th. This represents a $1.36 annualized dividend and a yield of 0.6%. This is an increase from AMETEK’s previous quarterly dividend of $0.31. AMETEK’s payout ratio is 21.25%.
Insider Activity at AMETEK
In related news, insider Thomas C. Marecic sold 14,310 shares of AMETEK stock in a transaction that occurred on Monday, December 15th. The shares were sold at an average price of $202.11, for a total value of $2,892,194.10. Following the transaction, the insider directly owned 42,589 shares of the company’s stock, valued at $8,607,662.79. This trade represents a 25.15% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, VP Thomas M. Montgomery sold 6,388 shares of the business’s stock in a transaction that occurred on Monday, December 22nd. The shares were sold at an average price of $205.05, for a total transaction of $1,309,859.40. Following the transaction, the vice president owned 22,116 shares of the company’s stock, valued at approximately $4,534,885.80. This represents a 22.41% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 0.57% of the stock is currently owned by insiders.
Analyst Ratings Changes
AME has been the topic of a number of recent research reports. TD Cowen reiterated a “buy” rating on shares of AMETEK in a research note on Tuesday, February 3rd. KeyCorp boosted their price target on AMETEK from $235.00 to $260.00 and gave the company an “overweight” rating in a research note on Wednesday, February 4th. DA Davidson reaffirmed a “buy” rating and issued a $240.00 price objective on shares of AMETEK in a report on Wednesday, February 4th. Weiss Ratings reiterated a “buy (b)” rating on shares of AMETEK in a research report on Wednesday, January 21st. Finally, Mizuho set a $235.00 target price on shares of AMETEK in a research report on Wednesday, February 4th. One investment analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and four have given a Hold rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $244.82.
Check Out Our Latest Research Report on AMETEK
AMETEK Company Profile
AMETEK, Inc is a global manufacturer of electronic instruments and electromechanical devices that serves a broad range of industries. Headquartered in Berwyn, Pennsylvania, the company designs and produces precision instruments, electronic measurement devices, specialty sensors, and electric motors and motion control systems. Its product portfolio includes analytical and monitoring instruments, calibration equipment, power supplies, embedded electronics, and industrial motors and drives used for critical applications.
The company operates through two primary business platforms — an electronic instruments group focused on analytical, test and measurement and sensor products, and an electromechanical group that supplies motors, actuators, and related power and motion solutions.
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