Banque Pictet & Cie SA lowered its stake in shares of AMETEK, Inc. (NYSE:AME) by 5.5% during the first quarter, according to its most recent Form 13F filing with the SEC. The fund owned 148,752 shares of the technology company’s stock after selling 8,651 shares during the period. Banque Pictet & Cie SA’s holdings in AMETEK were worth $11,301,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. BlackRock Inc. raised its position in AMETEK by 6.2% in the fourth quarter. BlackRock Inc. now owns 15,074,188 shares of the technology company’s stock valued at $1,092,426,000 after purchasing an additional 886,625 shares during the period. Massachusetts Financial Services Co. MA raised its position in AMETEK by 6.4% in the first quarter. Massachusetts Financial Services Co. MA now owns 5,369,528 shares of the technology company’s stock valued at $407,923,000 after purchasing an additional 320,848 shares during the period. Boston Partners raised its position in AMETEK by 1.6% in the first quarter. Boston Partners now owns 5,257,665 shares of the technology company’s stock valued at $399,425,000 after purchasing an additional 85,260 shares during the period. American Century Companies Inc. raised its position in AMETEK by 42.5% in the fourth quarter. American Century Companies Inc. now owns 4,067,798 shares of the technology company’s stock valued at $294,793,000 after purchasing an additional 1,214,153 shares during the period. Finally, Allianz Asset Management GmbH raised its position in AMETEK by 28.2% in the fourth quarter. Allianz Asset Management GmbH now owns 3,095,683 shares of the technology company’s stock valued at $224,343,000 after purchasing an additional 681,646 shares during the period. 86.00% of the stock is currently owned by institutional investors.

In related news, insider John Wesley Hardin sold 25,965 shares of the business’s stock in a transaction on Monday, February 26th. The stock was sold at an average price of $78.50, for a total transaction of $2,038,252.50. Following the completion of the transaction, the insider now directly owns 85,663 shares of the company’s stock, valued at approximately $6,724,545.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Steven W. Kohlhagen sold 3,000 shares of the business’s stock in a transaction on Wednesday, February 21st. The stock was sold at an average price of $76.45, for a total value of $229,350.00. Following the transaction, the director now directly owns 54,298 shares of the company’s stock, valued at $4,151,082.10. The disclosure for this sale can be found here. Insiders have sold a total of 36,965 shares of company stock valued at $2,893,243 over the last three months. 2.00% of the stock is currently owned by insiders.

A number of equities research analysts have commented on AME shares. BMO Capital Markets lifted their target price on AMETEK from $90.00 to $92.00 and gave the company an “outperform” rating in a research report on Thursday, May 3rd. ValuEngine upgraded AMETEK from a “hold” rating to a “buy” rating in a research report on Thursday, March 1st. Zacks Investment Research upgraded AMETEK from a “hold” rating to a “buy” rating and set a $83.00 price objective on the stock in a report on Wednesday, April 11th. Morgan Stanley boosted their price objective on AMETEK from $67.00 to $76.00 and gave the company an “overweight” rating in a report on Wednesday, February 7th. Finally, Wells Fargo set a $88.00 price objective on AMETEK and gave the company a “buy” rating in a report on Thursday, January 18th. Two equities research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. AMETEK currently has an average rating of “Buy” and a consensus target price of $82.00.

AME stock opened at $74.92 on Thursday. The company has a current ratio of 1.69, a quick ratio of 1.18 and a debt-to-equity ratio of 0.45. The firm has a market capitalization of $17.19 billion, a P/E ratio of 28.70, a PEG ratio of 2.38 and a beta of 1.27. AMETEK, Inc. has a 12-month low of $74.09 and a 12-month high of $74.50.

AMETEK (NYSE:AME) last posted its quarterly earnings data on Wednesday, May 2nd. The technology company reported $0.78 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.72 by $0.06. The firm had revenue of $1.17 billion for the quarter, compared to the consensus estimate of $1.12 billion. AMETEK had a return on equity of 16.64% and a net margin of 16.21%. The company’s quarterly revenue was up 16.4% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.61 EPS. research analysts expect that AMETEK, Inc. will post 3.12 EPS for the current year.

The business also recently announced a quarterly dividend, which will be paid on Friday, June 29th. Investors of record on Friday, June 15th will be paid a dividend of $0.14 per share. The ex-dividend date is Thursday, June 14th. This represents a $0.56 annualized dividend and a yield of 0.75%. AMETEK’s payout ratio is 21.46%.

AMETEK Profile

AMETEK, Inc manufactures and sells electronic instruments and electromechanical devices worldwide. Its Electronic Instruments Group segment offers advanced instruments for the process, power and industrial, and aerospace markets; process and analytical instruments for the oil, gas, petrochemical, pharmaceutical, semiconductor, automation, and food and beverage markets; and instruments for the laboratory equipment, ultraprecision manufacturing, medical, and test and measurement markets.

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Institutional Ownership by Quarter for AMETEK (NYSE:AME)

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