Raymond James Financial Services Advisors Inc. Boosts Position in AMETEK, Inc. (AME)

Raymond James Financial Services Advisors Inc. boosted its holdings in shares of AMETEK, Inc. (NYSE:AME) by 16.0% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 84,477 shares of the technology company’s stock after purchasing an additional 11,661 shares during the period. Raymond James Financial Services Advisors Inc.’s holdings in AMETEK were worth $7,009,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also bought and sold shares of AME. Vanguard Group Inc raised its position in shares of AMETEK by 0.6% in the third quarter. Vanguard Group Inc now owns 23,495,237 shares of the technology company’s stock worth $1,858,943,000 after acquiring an additional 137,102 shares during the period. FMR LLC raised its position in shares of AMETEK by 4.2% in the fourth quarter. FMR LLC now owns 9,274,980 shares of the technology company’s stock worth $627,916,000 after acquiring an additional 372,219 shares during the period. Massachusetts Financial Services Co. MA raised its position in shares of AMETEK by 5.5% in the fourth quarter. Massachusetts Financial Services Co. MA now owns 5,833,525 shares of the technology company’s stock worth $394,929,000 after acquiring an additional 303,284 shares during the period. American Century Companies Inc. raised its position in shares of AMETEK by 4.8% in the fourth quarter. American Century Companies Inc. now owns 4,442,960 shares of the technology company’s stock worth $300,788,000 after acquiring an additional 205,034 shares during the period. Finally, JPMorgan Chase & Co. raised its position in shares of AMETEK by 0.6% in the third quarter. JPMorgan Chase & Co. now owns 3,290,794 shares of the technology company’s stock worth $260,369,000 after acquiring an additional 19,367 shares during the period. Institutional investors own 86.33% of the company’s stock.

AME opened at $85.61 on Thursday. AMETEK, Inc. has a twelve month low of $63.14 and a twelve month high of $88.76. The company has a debt-to-equity ratio of 0.53, a current ratio of 1.91 and a quick ratio of 1.27. The stock has a market cap of $19.70 billion, a P/E ratio of 26.02, a P/E/G ratio of 2.20 and a beta of 1.21.

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

AMETEK announced that its board has authorized a stock repurchase plan on Wednesday, February 13th that permits the company to repurchase $500.00 million in shares. This repurchase authorization permits the technology company to reacquire up to 2.8% of its shares through open market purchases. Shares repurchase plans are generally an indication that the company’s board of directors believes its stock is undervalued.

The business also recently declared a quarterly dividend, which will be paid on Friday, June 28th. Investors of record on Friday, June 14th will be given a dividend of $0.14 per share. The ex-dividend date of this dividend is Thursday, June 13th. This represents a $0.56 annualized dividend and a dividend yield of 0.65%. AMETEK’s dividend payout ratio (DPR) is presently 17.02%.

In other news, VP Thomas M. Montgomery sold 3,536 shares of the stock in a transaction that occurred on Monday, February 25th. The shares were sold at an average price of $79.95, for a total value of $282,703.20. Following the completion of the sale, the vice president now owns 20,191 shares of the company’s stock, valued at approximately $1,614,270.45. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Dennis K. Williams sold 1,570 shares of the stock in a transaction that occurred on Thursday, May 2nd. The shares were sold at an average price of $87.00, for a total transaction of $136,590.00. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 57,496 shares of company stock valued at $4,633,720. 0.80% of the stock is owned by corporate insiders.

AME has been the subject of a number of analyst reports. Zacks Investment Research upgraded shares of AMETEK from a “hold” rating to a “buy” rating and set a $84.00 price objective for the company in a research report on Friday, February 8th. DA Davidson upped their price objective on shares of AMETEK to $101.00 and gave the stock a “buy” rating in a research report on Thursday, May 2nd. Morgan Stanley set a $95.00 price objective on shares of AMETEK and gave the stock a “buy” rating in a research report on Friday, May 3rd. BMO Capital Markets upped their price objective on shares of AMETEK from $99.00 to $101.00 and gave the stock an “outperform” rating in a research report on Thursday, May 2nd. Finally, KeyCorp upped their price objective on shares of AMETEK from $86.00 to $94.00 and gave the stock an “overweight” rating in a research report on Thursday, May 2nd. Fifteen analysts have rated the stock with a buy rating, AMETEK currently has a consensus rating of “Buy” and a consensus price target of $91.00.

WARNING: “Raymond James Financial Services Advisors Inc. Boosts Position in AMETEK, Inc. (AME)” was originally published by Baseball Daily News and is the property of of Baseball Daily News. If you are accessing this article on another domain, it was illegally stolen and republished in violation of U.S. & international copyright and trademark law. The correct version of this article can be accessed at https://www.baseballdailydigest.com/news/2019/05/23/raymond-james-financial-services-advisors-inc-boosts-position-in-ametek-inc-ame.html.

About AMETEK

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.

Featured Article: Using other technical indicators with support levels

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.