First Republic Investment Management Inc. cut its stake in AMETEK, Inc. (NYSE:AME) by 3.5% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 16,407 shares of the technology company’s stock after selling 590 shares during the period. First Republic Investment Management Inc.’s holdings in AMETEK were worth $1,490,000 at the end of the most recent quarter.
A number of other hedge funds also recently made changes to their positions in AME. Commerce Bank boosted its holdings in shares of AMETEK by 615.4% during the 2nd quarter. Commerce Bank now owns 219,061 shares of the technology company’s stock worth $19,899,000 after buying an additional 188,442 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. boosted its holdings in shares of AMETEK by 29.5% during the 2nd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 15,800 shares of the technology company’s stock worth $1,435,000 after buying an additional 3,600 shares in the last quarter. Wilbanks Smith & Thomas Asset Management LLC boosted its holdings in shares of AMETEK by 7.3% during the 2nd quarter. Wilbanks Smith & Thomas Asset Management LLC now owns 3,027 shares of the technology company’s stock worth $275,000 after buying an additional 205 shares in the last quarter. Modera Wealth Management LLC bought a new position in shares of AMETEK during the 2nd quarter worth approximately $208,000. Finally, JPMorgan Chase & Co. raised its position in shares of AMETEK by 18.1% during the second quarter. JPMorgan Chase & Co. now owns 4,896,915 shares of the technology company’s stock worth $432,202,000 after purchasing an additional 749,865 shares during the period. Institutional investors and hedge funds own 86.54% of the company’s stock.
A number of equities analysts have recently weighed in on AME shares. Zacks Investment Research raised AMETEK from a “hold” rating to a “buy” rating and set a $90.00 target price on the stock in a research report on Thursday, June 13th. Oppenheimer upped their target price on AMETEK from $94.00 to $100.00 and gave the stock an “outperform” rating in a research report on Wednesday, July 31st. Morgan Stanley upped their target price on AMETEK from $95.00 to $97.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 31st. ValuEngine lowered AMETEK from a “buy” rating to a “hold” rating in a research report on Thursday, August 1st. Finally, Royal Bank of Canada set a $95.00 target price on AMETEK and gave the stock a “buy” rating in a research report on Wednesday, July 31st. One investment analyst has rated the stock with a hold rating and thirteen have given a buy rating to the stock. AMETEK presently has a consensus rating of “Buy” and a consensus target price of $94.36.
Shares of NYSE:AME opened at $85.93 on Monday. The company has a quick ratio of 1.53, a current ratio of 2.17 and a debt-to-equity ratio of 0.51. AMETEK, Inc. has a twelve month low of $63.14 and a twelve month high of $92.30. The stock’s 50 day moving average is $87.18 and its 200-day moving average is $84.94. The firm has a market capitalization of $19.66 billion, a price-to-earnings ratio of 26.12, a PEG ratio of 2.20 and a beta of 1.22.
AMETEK (NYSE:AME) last released its quarterly earnings results on Tuesday, July 30th. The technology company reported $1.05 EPS for the quarter, beating analysts’ consensus estimates of $1.03 by $0.02. The business had revenue of $1.29 billion during the quarter, compared to analyst estimates of $1.32 billion. AMETEK had a return on equity of 19.27% and a net margin of 16.32%. AMETEK’s quarterly revenue was up 6.7% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.83 EPS. Equities research analysts anticipate that AMETEK, Inc. will post 4.1 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Monday, September 30th. Investors of record on Monday, September 16th will be given a $0.14 dividend. This represents a $0.56 dividend on an annualized basis and a yield of 0.65%. The ex-dividend date is Friday, September 13th. AMETEK’s payout ratio is currently 17.02%.
In related news, VP Thomas M. Montgomery sold 5,602 shares of the stock in a transaction on Thursday, June 27th. The stock was sold at an average price of $88.50, for a total value of $495,777.00. Following the completion of the sale, the vice president now directly owns 26,419 shares of the company’s stock, valued at approximately $2,338,081.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, CFO William Joseph Burke sold 16,322 shares of the stock in a transaction 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 completion of the sale, the chief financial officer now directly owns 86,727 shares of the company’s stock, valued at $7,502,752.77. The disclosure for this sale can be found here. Insiders sold a total of 90,010 shares of company stock valued at $7,786,522 over the last three months. 0.80% of the stock is currently owned by insiders.
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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