Financial Gravity Wealth Inc. bought a new position in AMETEK, Inc. (NYSE:AME) during the first quarter, according to its most recent 13F filing with the SEC. The fund bought 865 shares of the technology company’s stock, valued at approximately $73,000.
Several other institutional investors have also bought and sold shares of AME. Norges Bank bought a new stake in shares of AMETEK in the 4th quarter worth about $134,370,000. Oregon Public Employees Retirement Fund increased its holdings in shares of AMETEK by 6,587.0% in the 4th quarter. Oregon Public Employees Retirement Fund now owns 1,702,384 shares of the technology company’s stock worth $25,000 after buying an additional 1,676,926 shares during the last quarter. FMR LLC increased its holdings in shares of AMETEK by 4.2% in the 4th quarter. FMR LLC now owns 9,274,980 shares of the technology company’s stock worth $627,916,000 after buying an additional 372,219 shares during the last quarter. Kornitzer Capital Management Inc. KS increased its holdings in shares of AMETEK by 618.0% in the 4th quarter. Kornitzer Capital Management Inc. KS now owns 379,027 shares of the technology company’s stock worth $25,660,000 after buying an additional 326,236 shares during the last quarter. Finally, Massachusetts Financial Services Co. MA increased its holdings in shares of AMETEK by 5.5% in the 4th quarter. Massachusetts Financial Services Co. MA now owns 5,833,525 shares of the technology company’s stock worth $394,929,000 after buying an additional 303,284 shares during the last quarter. Hedge funds and other institutional investors own 85.88% of the company’s stock.
A number of analysts have recently weighed in on the stock. DA Davidson boosted their target price on shares of AMETEK to $92.00 and gave the stock a “buy” rating in a report on Friday, March 15th. Zacks Investment Research upgraded shares of AMETEK from a “hold” rating to a “buy” rating and set a $84.00 target price on the stock in a report on Friday, February 8th. BMO Capital Markets restated a “buy” rating and issued a $90.00 target price on shares of AMETEK in a report on Tuesday, January 29th. Stephens restated a “buy” rating and issued a $79.00 target price on shares of AMETEK in a report on Sunday, January 6th. Finally, Wolfe Research upgraded shares of AMETEK from a “market perform” rating to an “outperform” rating in a report on Tuesday, January 8th. Twelve investment analysts have rated the stock with a buy rating, The stock currently has a consensus rating of “Buy” and an average price target of $86.80.
AMETEK (NYSE:AME) last issued its quarterly earnings results on Tuesday, February 5th. The technology company reported $0.86 EPS for the quarter, beating the consensus estimate of $0.84 by $0.02. The company had revenue of $1.27 billion for the quarter, compared to the consensus estimate of $1.26 billion. AMETEK had a net margin of 16.05% and a return on equity of 17.72%. The firm’s revenue was up 11.1% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.70 EPS. On average, equities analysts forecast that AMETEK, Inc. will post 4.04 EPS for the current year.
The company also recently declared a quarterly dividend, which was paid on Friday, March 29th. Investors of record on Friday, March 15th were issued a dividend of $0.14 per share. The ex-dividend date of this dividend was Thursday, March 14th. This represents a $0.56 annualized dividend and a yield of 0.65%. AMETEK’s payout ratio is 17.02%.
AMETEK announced that its board has initiated a stock repurchase plan on Wednesday, February 13th that authorizes the company to repurchase $500.00 million in shares. This repurchase authorization authorizes the technology company to repurchase up to 2.8% of its shares through open market purchases. Shares repurchase plans are often an indication that the company’s board of directors believes its shares are undervalued.
In related news, insider Thomas C. Marecic sold 17,097 shares of the company’s stock in a transaction dated Wednesday, February 13th. The shares were sold at an average price of $79.00, for a total transaction of $1,350,663.00. Following the transaction, the insider now directly owns 42,319 shares in the company, valued at approximately $3,343,201. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO David A. Zapico sold 31,200 shares of the business’s stock in a transaction dated Tuesday, February 19th. The shares were sold at an average price of $78.80, for a total transaction of $2,458,560.00. Following the completion of the sale, the chief executive officer now directly owns 223,085 shares of the company’s stock, valued at $17,579,098. The disclosure for this sale can be found here. Insiders have sold a total of 111,563 shares of company stock worth $8,880,480 over the last quarter. 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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