Allianz Asset Management GmbH boosted its stake in shares of AMETEK, Inc. (NYSE:AME) by 0.1% in the 2nd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 2,826,211 shares of the technology company’s stock after buying an additional 2,118 shares during the quarter. Allianz Asset Management GmbH owned approximately 1.24% of AMETEK worth $256,733,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds also recently bought and sold shares of AME. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. lifted its holdings in AMETEK by 20.8% during the second quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 40,006 shares of the technology company’s stock valued at $3,634,000 after purchasing an additional 6,902 shares during the last quarter. Banco Santander S.A. purchased a new stake in AMETEK during the second quarter valued at about $752,000. Bridges Investment Management Inc. lifted its holdings in AMETEK by 29.0% during the second quarter. Bridges Investment Management Inc. now owns 8,460 shares of the technology company’s stock valued at $768,000 after purchasing an additional 1,900 shares during the last quarter. Congress Asset Management Co. MA lifted its holdings in AMETEK by 2.1% during the second quarter. Congress Asset Management Co. MA now owns 75,272 shares of the technology company’s stock valued at $6,838,000 after purchasing an additional 1,540 shares during the last quarter. Finally, Commerce Bank lifted its holdings in AMETEK by 615.4% during the second quarter. Commerce Bank now owns 219,061 shares of the technology company’s stock valued at $19,899,000 after purchasing an additional 188,442 shares during the last quarter. Institutional investors own 86.54% of the company’s stock.
Several equities research analysts have commented on the stock. Royal Bank of Canada set a $95.00 price objective on shares of AMETEK and gave the company a “buy” rating in a report on Wednesday, July 31st. Oppenheimer upped their price objective on shares of AMETEK from $94.00 to $100.00 and gave the company an “outperform” rating in a report on Wednesday, July 31st. ValuEngine downgraded shares of AMETEK from a “buy” rating to a “hold” rating in a report on Thursday, August 1st. Berenberg Bank assumed coverage on shares of AMETEK in a report on Wednesday, May 15th. They issued a “buy” rating and a $100.00 price target on the stock. Finally, DA Davidson increased their price target on shares of AMETEK to $101.00 and gave the stock a “buy” rating in a report on Thursday, May 2nd. One equities research analyst has rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. AMETEK presently has a consensus rating of “Buy” and a consensus target price of $94.36.
Shares of AMETEK stock opened at $83.73 on Wednesday. AMETEK, Inc. has a 12-month low of $63.14 and a 12-month high of $92.30. The company has a market cap of $19.07 billion, a price-to-earnings ratio of 25.45, a PEG ratio of 2.14 and a beta of 1.22. The company has a current ratio of 2.17, a quick ratio of 1.53 and a debt-to-equity ratio of 0.51. The company’s 50-day moving average price is $87.44 and its 200-day moving average price is $84.80.
AMETEK (NYSE:AME) last announced its quarterly earnings results on Tuesday, July 30th. The technology company reported $1.05 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.03 by $0.02. AMETEK had a net margin of 16.32% and a return on equity of 19.27%. The firm had revenue of $1.29 billion for the quarter, compared to the consensus estimate of $1.32 billion. During the same period in the prior year, the firm posted $0.83 earnings per share. The company’s revenue for the quarter was up 6.7% on a year-over-year basis. On average, sell-side analysts predict that AMETEK, Inc. will post 4.1 earnings per share for the current year.
The company also recently declared a quarterly dividend, which will be paid on Monday, September 30th. Stockholders of record on Monday, September 16th will be issued a $0.14 dividend. This represents a $0.56 dividend on an annualized basis and a dividend yield of 0.67%. The ex-dividend date of this dividend is Friday, September 13th. AMETEK’s payout ratio is 17.02%.
In related news, CFO William Joseph Burke sold 16,322 shares of the firm’s stock in a transaction that occurred on Tuesday, June 18th. The shares were sold at an average price of $86.51, for a total value of $1,412,016.22. Following the sale, the chief financial officer now directly owns 86,727 shares of the company’s stock, valued at $7,502,752.77. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Anthony James Conti sold 1,570 shares of the firm’s stock in a transaction that occurred on Thursday, June 20th. The shares were sold at an average price of $87.79, for a total transaction of $137,830.30. Following the completion of the sale, the director now directly owns 17,198 shares in the company, valued at $1,509,812.42. The disclosure for this sale can be found here. Over the last three months, insiders sold 90,010 shares of company stock worth $7,786,522. Insiders own 0.80% of the company’s stock.
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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