Mirabaud & Cie SA trimmed its stake in AMETEK, Inc. (NYSE:AME – Free Report) by 23.1% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 8,300 shares of the technology company’s stock after selling 2,500 shares during the period. AMETEK makes up 0.5% of Mirabaud & Cie SA’s investment portfolio, making the stock its 25th largest holding. Mirabaud & Cie SA’s holdings in AMETEK were worth $1,704,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other institutional investors and hedge funds have also recently bought and sold shares of the company. Fort Washington Investment Advisors Inc. OH increased its position in shares of AMETEK by 2.9% during the fourth quarter. Fort Washington Investment Advisors Inc. OH now owns 1,816 shares of the technology company’s stock worth $373,000 after purchasing an additional 51 shares in the last quarter. Parallel Advisors LLC boosted its position in shares of AMETEK by 2.0% in the 3rd quarter. Parallel Advisors LLC now owns 2,766 shares of the technology company’s stock valued at $520,000 after purchasing an additional 53 shares during the period. Biltmore Wealth Management LLC boosted its position in shares of AMETEK by 1.1% in the 3rd quarter. Biltmore Wealth Management LLC now owns 4,771 shares of the technology company’s stock valued at $897,000 after purchasing an additional 54 shares during the period. Brooklyn Investment Group grew its stake in AMETEK by 3.2% during the 3rd quarter. Brooklyn Investment Group now owns 1,735 shares of the technology company’s stock worth $326,000 after buying an additional 54 shares during the last quarter. Finally, Cim LLC increased its position in AMETEK by 0.7% during the third quarter. Cim LLC now owns 7,645 shares of the technology company’s stock worth $1,437,000 after buying an additional 56 shares during the period. 87.43% of the stock is owned by hedge funds and other institutional investors.
AMETEK Trading Up 2.1%
Shares of AME stock opened at $218.84 on Thursday. The business’s 50 day moving average is $224.78 and its two-hundred day moving average is $206.48. AMETEK, Inc. has a twelve month low of $145.02 and a twelve month high of $242.05. The company has a market capitalization of $50.13 billion, a P/E ratio of 34.19, a price-to-earnings-growth ratio of 3.08 and a beta of 1.02. The company has a current ratio of 1.06, a quick ratio of 0.67 and a debt-to-equity ratio of 0.10.
AMETEK Increases Dividend
The company also recently disclosed a quarterly dividend, which was paid on Tuesday, March 31st. Shareholders of record on Monday, March 16th were given a dividend of $0.34 per share. This represents a $1.36 dividend on an annualized basis and a yield of 0.6%. The ex-dividend date was Monday, March 16th. This is an increase from AMETEK’s previous quarterly dividend of $0.31. AMETEK’s payout ratio is currently 21.25%.
Analysts Set New Price Targets
AME has been the subject of a number of research reports. Morgan Stanley boosted their price objective on AMETEK from $215.00 to $235.00 and gave the company an “equal weight” rating in a research note on Thursday, March 12th. DA Davidson restated a “buy” rating and set a $240.00 target price on shares of AMETEK in a research report on Wednesday, February 4th. Barclays upped their price target on shares of AMETEK from $210.00 to $220.00 and gave the company an “equal weight” rating in a research report on Wednesday, February 4th. Deutsche Bank Aktiengesellschaft assumed coverage on shares of AMETEK in a research note on Wednesday, January 21st. They set a “buy” rating and a $271.00 price target for the company. Finally, Mizuho set a $235.00 price objective on shares of AMETEK in a research report on Wednesday, February 4th. One investment analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and four have issued a Hold rating to the company. Based on data from MarketBeat, AMETEK currently has a consensus rating of “Moderate Buy” and an average price target of $244.67.
Get Our Latest Research Report on AME
Insider Activity at AMETEK
In other news, Director Thomas A. Amato sold 530 shares of AMETEK stock in a transaction dated Tuesday, March 24th. The shares were sold at an average price of $216.78, for a total value of $114,893.40. Following the sale, the director owned 4,480 shares of the company’s stock, valued at $971,174.40. The trade was a 10.58% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 0.54% of the company’s stock.
AMETEK 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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