BNP Paribas Financial Markets raised its holdings in AMETEK, Inc. (NYSE:AME – Free Report) by 61.7% during the third quarter, Holdings Channel reports. The institutional investor owned 887,216 shares of the technology company’s stock after buying an additional 338,371 shares during the quarter. BNP Paribas Financial Markets’ holdings in AMETEK were worth $166,797,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors also recently made changes to their positions in the company. Vanguard Group Inc. raised its holdings in shares of AMETEK by 0.7% in the 3rd quarter. Vanguard Group Inc. now owns 27,173,705 shares of the technology company’s stock worth $5,108,657,000 after acquiring an additional 176,040 shares during the last quarter. State Street Corp boosted its stake in AMETEK by 1.3% during the 2nd quarter. State Street Corp now owns 9,637,303 shares of the technology company’s stock valued at $1,743,966,000 after purchasing an additional 126,105 shares during the last quarter. Geode Capital Management LLC increased its holdings in AMETEK by 1.8% during the 2nd quarter. Geode Capital Management LLC now owns 5,794,236 shares of the technology company’s stock worth $1,044,009,000 after purchasing an additional 104,139 shares in the last quarter. Invesco Ltd. increased its holdings in AMETEK by 22.3% during the 2nd quarter. Invesco Ltd. now owns 4,254,475 shares of the technology company’s stock worth $769,890,000 after purchasing an additional 775,078 shares in the last quarter. Finally, Norges Bank purchased a new stake in shares of AMETEK in the second quarter worth approximately $650,613,000. 87.43% of the stock is owned by institutional investors.
AMETEK Stock Performance
AME stock opened at $224.12 on Thursday. The company has a quick ratio of 0.67, a current ratio of 1.06 and a debt-to-equity ratio of 0.10. The firm has a market cap of $51.32 billion, a PE ratio of 35.02, a P/E/G ratio of 3.23 and a beta of 1.02. The business has a 50 day moving average of $224.46 and a 200-day moving average of $203.71. AMETEK, Inc. has a 12-month low of $145.02 and a 12-month high of $242.05.
AMETEK Increases Dividend
The firm also recently announced a quarterly dividend, which will be paid on Tuesday, March 31st. Stockholders of record on Monday, March 16th will be paid a dividend of $0.34 per share. This represents a $1.36 dividend on an annualized basis and a dividend yield of 0.6%. The ex-dividend date is Monday, March 16th. This is a positive change from AMETEK’s previous quarterly dividend of $0.31. AMETEK’s dividend payout ratio (DPR) is presently 21.25%.
Analysts Set New Price Targets
A number of research analysts have recently weighed in on AME shares. Oppenheimer lowered AMETEK from an “outperform” rating to a “market perform” rating in a report on Tuesday, January 27th. Deutsche Bank Aktiengesellschaft initiated coverage on AMETEK in a research report on Wednesday, January 21st. They issued a “buy” rating and a $271.00 price target for the company. Melius Research set a $235.00 price objective on AMETEK in a research note on Monday, January 5th. KeyCorp lifted their price objective on shares of AMETEK from $235.00 to $260.00 and gave the stock an “overweight” rating in a report on Wednesday, February 4th. Finally, Barclays upped their target price on shares of AMETEK from $210.00 to $220.00 and gave the stock an “equal weight” rating in a research note on Wednesday, February 4th. One equities research analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and four have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $243.00.
Check Out Our Latest Stock Report on AME
Insider Buying and Selling
In other AMETEK news, insider Thomas C. Marecic sold 14,310 shares of AMETEK stock in a transaction dated 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 sale, the insider owned 42,589 shares of the company’s stock, valued at approximately $8,607,662.79. The trade was a 25.15% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, VP Thomas M. Montgomery sold 6,388 shares of the business’s stock in a transaction dated 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 completion of the transaction, the vice president owned 22,116 shares in the company, valued at approximately $4,534,885.80. The trade was a 22.41% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last ninety days, insiders have sold 49,088 shares of company stock valued at $9,930,020. 0.57% of the stock is owned by insiders.
About AMETEK
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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Want to see what other hedge funds are holding AME? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for AMETEK, Inc. (NYSE:AME – Free Report).
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