Numerai GP LLC lifted its position in shares of AMETEK, Inc. (NYSE:AME – Free Report) by 148.7% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 20,226 shares of the technology company’s stock after purchasing an additional 12,094 shares during the period. Numerai GP LLC’s holdings in AMETEK were worth $3,802,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Principal Financial Group Inc. increased its position in shares of AMETEK by 4.9% during the third quarter. Principal Financial Group Inc. now owns 2,043,029 shares of the technology company’s stock valued at $384,096,000 after acquiring an additional 94,645 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. lifted its holdings in AMETEK by 22.3% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 37,853 shares of the technology company’s stock worth $7,116,000 after acquiring an additional 6,911 shares during the period. Nordea Investment Management AB boosted its position in AMETEK by 246.0% in the third quarter. Nordea Investment Management AB now owns 92,175 shares of the technology company’s stock worth $17,344,000 after purchasing an additional 65,537 shares during the last quarter. Compagnie Lombard Odier SCmA bought a new position in AMETEK in the 3rd quarter valued at $118,311,000. Finally, Valley National Advisers Inc. purchased a new stake in shares of AMETEK during the 3rd quarter valued at $2,061,000. 87.43% of the stock is currently owned by hedge funds and other institutional investors.
AMETEK Price Performance
NYSE AME opened at $214.53 on Tuesday. The company has a market cap of $49.14 billion, a PE ratio of 33.52, a price-to-earnings-growth ratio of 3.07 and a beta of 1.02. AMETEK, Inc. has a 52 week low of $145.02 and a 52 week high of $242.05. 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’s 50-day simple moving average is $224.83 and its two-hundred day simple moving average is $204.43.
AMETEK Increases Dividend
The business also recently declared a quarterly dividend, which will be paid on Tuesday, March 31st. Stockholders 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 is an increase from AMETEK’s previous quarterly dividend of $0.31. This represents a $1.36 dividend on an annualized basis and a dividend yield of 0.6%. AMETEK’s dividend payout ratio is 19.38%.
Wall Street Analysts Forecast Growth
AME has been the topic of a number of recent analyst reports. Oppenheimer cut AMETEK from an “outperform” rating to a “market perform” rating in a research note on Tuesday, January 27th. Deutsche Bank Aktiengesellschaft assumed coverage on shares of AMETEK in a report on Wednesday, January 21st. They set a “buy” rating and a $271.00 price objective for the company. KeyCorp lifted their price objective on shares of AMETEK from $235.00 to $260.00 and gave the stock an “overweight” rating in a research report on Wednesday, February 4th. TD Cowen reissued a “buy” rating on shares of AMETEK in a research report on Tuesday, February 3rd. Finally, Weiss Ratings restated a “buy (b)” rating on shares of AMETEK in a research note on Wednesday, January 21st. One investment 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 company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $244.82.
View Our Latest Research Report on AMETEK
Insider Buying and Selling at AMETEK
In related news, VP Thomas M. Montgomery sold 6,388 shares of the business’s stock in a transaction on Monday, December 22nd. The stock was sold at an average price of $205.05, for a total transaction of $1,309,859.40. Following the sale, the vice president directly owned 22,116 shares in the company, valued at approximately $4,534,885.80. The trade was a 22.41% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Company insiders own 0.57% of the company’s stock.
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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