AMETEK, Inc. (AME) Holdings Boosted by JPMorgan Chase & Co.

JPMorgan Chase & Co. raised its stake in AMETEK, Inc. (NYSE:AME) by 24.8% during the 1st quarter, Holdings Channel reports. The firm owned 4,147,050 shares of the technology company’s stock after acquiring an additional 823,704 shares during the period. JPMorgan Chase & Co.’s holdings in AMETEK were worth $344,081,000 as of its most recent SEC filing.

A number of other institutional investors also recently made changes to their positions in the business. Legal & General Group Plc grew its position in shares of AMETEK by 1.9% during the 3rd quarter. Legal & General Group Plc now owns 1,091,141 shares of the technology company’s stock valued at $86,337,000 after purchasing an additional 20,424 shares in the last quarter. Vanguard Group Inc grew its position in shares of AMETEK by 0.6% during the 3rd quarter. Vanguard Group Inc now owns 23,495,237 shares of the technology company’s stock valued at $1,858,943,000 after purchasing an additional 137,102 shares in the last quarter. IFP Advisors Inc grew its position in shares of AMETEK by 76.4% during the 4th quarter. IFP Advisors Inc now owns 441 shares of the technology company’s stock valued at $29,000 after purchasing an additional 191 shares in the last quarter. Assenagon Asset Management S.A. grew its position in shares of AMETEK by 15.4% during the 4th quarter. Assenagon Asset Management S.A. now owns 323,264 shares of the technology company’s stock valued at $21,885,000 after purchasing an additional 43,117 shares in the last quarter. Finally, IFM Investors Pty Ltd grew its position in shares of AMETEK by 8.7% during the 4th quarter. IFM Investors Pty Ltd now owns 14,087 shares of the technology company’s stock valued at $954,000 after purchasing an additional 1,131 shares in the last quarter. Institutional investors own 85.72% of the company’s stock.

NYSE AME opened at $85.16 on Tuesday. AMETEK, Inc. has a 52-week low of $63.14 and a 52-week high of $88.76. The company has a quick ratio of 1.27, a current ratio of 1.91 and a debt-to-equity ratio of 0.53. The firm has a market cap of $19.57 billion, a PE ratio of 25.88, a P/E/G ratio of 2.19 and a beta of 1.21.

AMETEK (NYSE:AME) last posted its quarterly earnings data on Wednesday, May 1st. The technology company reported $1.00 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.97 by $0.03. AMETEK had a net margin of 16.14% and a return on equity of 18.56%. The company had revenue of $1.29 billion during the quarter, compared to the consensus estimate of $1.28 billion. During the same period in the previous year, the firm posted $0.79 EPS. The firm’s revenue was up 9.8% compared to the same quarter last year. On average, equities analysts expect that AMETEK, Inc. will post 4.07 EPS for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Friday, June 28th. Shareholders of record on Friday, June 14th will be paid a $0.14 dividend. This represents a $0.56 annualized dividend and a yield of 0.66%. The ex-dividend date is Thursday, June 13th. AMETEK’s dividend payout ratio is presently 17.02%.

AMETEK announced that its board has authorized a stock repurchase program on Wednesday, February 13th that allows the company to repurchase $500.00 million in shares. This repurchase authorization allows the technology company to repurchase up to 2.8% of its shares through open market purchases. Shares repurchase programs are usually a sign that the company’s leadership believes its stock is undervalued.

A number of research analysts have recently commented on AME shares. DA Davidson boosted their price target on shares of AMETEK to $101.00 and gave the company a “buy” rating in a research report on Thursday, May 2nd. ValuEngine upgraded shares of AMETEK from a “hold” rating to a “buy” rating in a research report on Wednesday, May 1st. Zacks Investment Research upgraded shares of AMETEK from a “hold” rating to a “buy” rating and set a $84.00 price target for the company in a research report on Friday, February 8th. BMO Capital Markets restated a “buy” rating and set a $90.00 price target on shares of AMETEK in a research report on Tuesday, January 29th. Finally, Berenberg Bank assumed coverage on shares of AMETEK in a report on Wednesday, May 15th. They set a “buy” rating and a $100.00 price objective for the company. Fifteen research analysts have rated the stock with a buy rating, The company has a consensus rating of “Buy” and an average price target of $91.00.

In other AMETEK news, VP William D. Eginton sold 15,546 shares of the business’s stock in a transaction on Friday, March 1st. The shares were sold at an average price of $80.00, for a total value of $1,243,680.00. Following the completion of the sale, the vice president now directly owns 59,516 shares of the company’s stock, valued at $4,761,280. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Elizebeth R. Varet sold 3,740 shares of the business’s stock in a transaction on Wednesday, February 20th. The stock was sold at an average price of $79.77, for a total transaction of $298,339.80. Following the completion of the sale, the director now directly owns 108,550 shares of the company’s stock, valued at $8,659,033.50. The disclosure for this sale can be found here. Insiders sold 61,436 shares of company stock valued at $4,948,050 over the last three months. 0.80% of the stock is currently owned by insiders.

ILLEGAL ACTIVITY NOTICE: “AMETEK, Inc. (AME) Holdings Boosted by JPMorgan Chase & Co.” was reported by Baseball Daily News and is owned by of Baseball Daily News. If you are reading this story on another publication, it was illegally stolen and reposted in violation of international copyright and trademark law. The correct version of this story can be viewed at https://www.baseballdailydigest.com/news/2019/05/21/ametek-inc-ame-holdings-boosted-by-jpmorgan-chase-co.html.

AMETEK Profile

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.

Recommended Story: Balance Sheet

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).

Institutional Ownership by Quarter for AMETEK (NYSE:AME)

Receive News & Ratings for AMETEK Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for AMETEK and related companies with MarketBeat.com's FREE daily email newsletter.