Mycio Wealth Partners LLC grew its stake in AMETEK, Inc. (NYSE:AME) by 29.3% during the 2nd quarter, Holdings Channel reports. The fund owned 13,408 shares of the technology company’s stock after acquiring an additional 3,040 shares during the period. Mycio Wealth Partners LLC’s holdings in AMETEK were worth $1,218,000 at the end of the most recent reporting period.
Several other large investors also recently modified their holdings of AME. JPMorgan Chase & Co. lifted its position in shares of AMETEK by 24.8% in the first quarter. JPMorgan Chase & Co. now owns 4,147,050 shares of the technology company’s stock valued at $344,081,000 after acquiring an additional 823,704 shares in the last quarter. Argent Capital Management LLC purchased a new position in AMETEK during the first quarter worth about $49,936,000. Marshall Wace North America L.P. lifted its position in AMETEK by 332.0% during the first quarter. Marshall Wace North America L.P. now owns 437,986 shares of the technology company’s stock worth $36,340,000 after buying an additional 336,593 shares during the period. Pictet Asset Management Ltd. lifted its position in AMETEK by 271.9% during the first quarter. Pictet Asset Management Ltd. now owns 448,710 shares of the technology company’s stock worth $37,229,000 after buying an additional 328,065 shares during the period. Finally, The Manufacturers Life Insurance Company lifted its position in AMETEK by 23.0% during the first quarter. The Manufacturers Life Insurance Company now owns 1,495,007 shares of the technology company’s stock worth $124,041,000 after buying an additional 279,644 shares during the period. Institutional investors and hedge funds own 86.54% of the company’s stock.
NYSE:AME traded up $0.02 on Wednesday, hitting $86.23. 44,779 shares of the stock were exchanged, compared to its average volume of 1,296,685. The stock has a market cap of $19.56 billion, a PE ratio of 26.22, a PEG ratio of 2.21 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 stock has a fifty day moving average of $88.40 and a 200-day moving average of $84.44. AMETEK, Inc. has a fifty-two week low of $63.14 and a fifty-two week high of $92.30.
The company also recently declared a quarterly dividend, which will be paid on Monday, September 30th. Shareholders of record on Monday, September 16th will be paid a dividend of $0.14 per share. The ex-dividend date of this dividend is Friday, September 13th. This represents a $0.56 annualized dividend and a yield of 0.65%. AMETEK’s dividend payout ratio is presently 17.02%.
In other news, Director Elizebeth R. Varet sold 2,000 shares of the stock in a transaction dated Monday, June 17th. The stock was sold at an average price of $84.90, for a total value of $169,800.00. Following the completion of the sale, the director now owns 99,670 shares in the company, valued at $8,461,983. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Anthony James Conti sold 1,570 shares of the stock in a transaction dated Thursday, June 20th. The shares were sold at an average price of $87.79, for a total value of $137,830.30. Following the completion of the sale, the director now owns 17,198 shares of the company’s stock, valued at approximately $1,509,812.42. The disclosure for this sale can be found here. Insiders have sold 90,010 shares of company stock valued at $7,786,522 over the last 90 days. 0.80% of the stock is currently owned by insiders.
Several research firms recently weighed in on AME. Berenberg Bank began coverage on AMETEK in a research report on Wednesday, May 15th. They set a “buy” rating and a $100.00 target price on the stock. 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. BMO Capital Markets increased their target price on AMETEK from $99.00 to $101.00 and gave the stock an “outperform” rating in a research report on Thursday, May 2nd. Oppenheimer increased 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. Finally, Vertical Research reiterated a “buy” rating on shares of AMETEK in a research report on Friday, May 3rd. One research analyst has rated the stock with a hold rating and thirteen have given a buy rating to the company. The stock has an average rating of “Buy” and an average target price of $94.36.
AMETEK Company 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.
Further Reading: Market Timing
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