Amundi Pioneer Asset Management Inc. Sells 95,127 Shares of AMETEK, Inc. (AME)
Amundi Pioneer Asset Management Inc. lessened its holdings in AMETEK, Inc. (NYSE:AME) by 31.3% during the fourth quarter, HoldingsChannel.com reports. The firm owned 208,412 shares of the technology company’s stock after selling 95,127 shares during the quarter. Amundi Pioneer Asset Management Inc.’s holdings in AMETEK were worth $14,110,000 as of its most recent SEC filing.
Other institutional investors and hedge funds have also made changes to their positions in the company. IFP Advisors Inc grew its holdings in shares of AMETEK by 76.4% during the fourth quarter. IFP Advisors Inc now owns 441 shares of the technology company’s stock valued at $29,000 after buying an additional 191 shares during the last quarter. Laurel Wealth Advisors LLC purchased a new stake in shares of AMETEK during the fourth quarter valued at approximately $32,000. SRS Capital Advisors Inc. grew its holdings in shares of AMETEK by 183.7% during the fourth quarter. SRS Capital Advisors Inc. now owns 749 shares of the technology company’s stock valued at $51,000 after buying an additional 485 shares during the last quarter. Financial Gravity Companies Inc. purchased a new stake in shares of AMETEK during the fourth quarter valued at approximately $65,000. Finally, Cerebellum GP LLC grew its holdings in shares of AMETEK by 86.7% during the fourth quarter. Cerebellum GP LLC now owns 1,064 shares of the technology company’s stock valued at $72,000 after buying an additional 494 shares during the last quarter. Institutional investors and hedge funds own 85.87% of the company’s stock.
AME has been the topic of a number of recent analyst reports. Cowen reiterated a “buy” rating and set a $91.00 price target on shares of AMETEK in a report on Wednesday, December 12th. Morgan Stanley upgraded shares of AMETEK from an “equal weight” rating to an “overweight” rating and increased their price target for the company from $81.00 to $85.00 in a report on Tuesday, December 18th. Royal Bank of Canada reiterated a “buy” rating and set a $82.00 price target on shares of AMETEK in a report on Wednesday, December 19th. Zacks Investment Research cut shares of AMETEK from a “buy” rating to a “hold” rating in a report on Thursday, January 3rd. Finally, Stephens reiterated a “buy” rating and set a $79.00 price target on shares of AMETEK in a report on Sunday, January 6th. Twelve research analysts have rated the stock with a buy rating, AMETEK has a consensus rating of “Buy” and a consensus target price of $86.80.
Shares of AMETEK stock opened at $82.23 on Friday. The company has a market cap of $18.36 billion, a P/E ratio of 24.99, a P/E/G ratio of 2.09 and a beta of 1.20. AMETEK, Inc. has a twelve month low of $63.14 and a twelve month high of $82.32. The company has a debt-to-equity ratio of 0.54, a quick ratio of 0.96 and a current ratio of 1.46.
AMETEK (NYSE:AME) last issued its quarterly earnings data on Tuesday, February 5th. The technology company reported $0.86 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.84 by $0.02. The company had revenue of $1.27 billion for the quarter, compared to the consensus estimate of $1.26 billion. AMETEK had a net margin of 16.05% and a return on equity of 17.72%. The firm’s revenue for the quarter was up 11.1% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.70 earnings per share. On average, research analysts anticipate that AMETEK, Inc. will post 4.04 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, March 29th. Investors of record on Friday, March 15th will be given a dividend of $0.14 per share. The ex-dividend date is Thursday, March 14th. This represents a $0.56 dividend on an annualized basis and a yield of 0.68%. AMETEK’s dividend payout ratio (DPR) is 17.02%.
AMETEK declared that its Board of Directors has authorized a share buyback plan on Wednesday, February 13th that authorizes the company to buyback $500.00 million in outstanding shares. This buyback authorization authorizes the technology company to buy up to 2.8% of its stock through open market purchases. Stock buyback plans are usually an indication that the company’s leadership believes its shares are undervalued.
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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