MetLife Investment Management LLC decreased its position in shares of AMETEK, Inc. (NYSE: AME – Get Rating) by 10.0% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 51,109 shares of the technology company stock after selling 5,696 shares during the quarter. MetLife Investment Management LLC’s holdings in AMETEK were worth $ 7,515,000 at the end of the most recent quarter.
Several other large investors have also recently made changes to their positions in the company. Louisiana State Employees Retirement System boosted its stake in shares of AMETEK by 0.7% during the 4th quarter. Louisiana State Employees Retirement System now owns 14,500 shares of the technology company stock worth $ 2,132,000 after acquiring an additional 100 shares in the last quarter. Checchi Capital Advisers LLC lifted its stake in AMETEK by 5.9% in the 4th quarter. Checchi Capital Advisers LLC now owns 1,793 shares of the technology company stock valued at $ 264,000 after buying an additional 100 shares in the last quarter. AlphaMark Advisors LLC lifted its stake in AMETEK by 3.7% in the 4th quarter. AlphaMark Advisors LLC now owns 3,194 shares of the technology company stock valued at $ 470,000 after buying an additional 113 shares in the last quarter. Tsfg LLC lifted its stake in AMETEK by 3.0% in the 4th quarter. Tsfg LLC now owns 3,932 shares of the technology company stock valued at $ 578,000 after buying an additional 116 shares in the last quarter. Finally, Brown Advisory Inc. lifted its stake in AMETEK by 0.5% in the 4th quarter. Brown Advisory Inc. now owns 28,982 shares of the technology company stock valued at $ 4,261,000 after buying an additional 132 shares in the last quarter. 86.72% of the stock is currently owned by institutional investors and hedge funds.
In other news, Director Anthony James Conti sold 5,160 shares of the company stock in a transaction on Friday, March 25th. The stock was sold at an average price of $ 133.37, for a total transaction of $ 688,189.20. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Thomas A. Amato sold 615 shares of the company stock in a transaction on Monday, March 28th. The stock was sold at an average price of $ 133.03, for a total value of $ 81,813.45. The disclosure for this sale can be found here. Corporate insiders own 0.72% of the company stock.
AME has been the topic of a number of recent research reports. KeyCorp reduced their target price on AMETEK from $ 155.00 to $ 145.00 in a research note on Wednesday, May 4th. Morgan Stanley reduced their target price on AMETEK from $ 144.00 to $ 135.00 and set an “overweight” rating on the stock in a research note on Tuesday, May 31st. StockNews.com initiated coverage on AMETEK in a research note on Thursday, March 31st. They issued a “hold” rating on the stock. Finally, Robert W. Baird reduced their target price on AMETEK from $ 156.00 to $ 140.00 and set a “neutral” rating on the stock in a research note on Tuesday, May 10th. Two analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Buy” and an average target price of $ 146.56.
Shares of AMETEK stock opened at $ 115.46 on Monday. AMETEK, Inc. has a fifty-two week low of $ 114.37 and a fifty-two week high of $ 148.07. The firm has a market cap of $ 26.66 billion, a PE ratio of 25.77, a P / E / G ratio of 2.26 and a beta of 1.27. The business’s fifty day moving average is $ 124.35 and its two-hundred day moving average is $ 132.19. The company has a quick ratio of 0.88, a current ratio of 1.43 and a debt-to-equity ratio of 0.32.
AMETEK (NYSE: AME – Get Rating) last issued its quarterly earnings results on Tuesday, May 3rd. The technology company reported $ 1.33 earnings per share for the quarter, topping analysts’ consensus estimates of $ 1.27 by $ 0.06. The company had revenue of $ 1.46 billion for the quarter, compared to analyst estimates of $ 1.46 billion. AMETEK had a return on equity of 17.82% and a net margin of 18.02%. The business’s revenue for the quarter was up 20.0% compared to the same quarter last year. During the same quarter in the prior year, the company posted $ 1.07 EPS. Equities research analysts anticipate that AMETEK, Inc. will post 5.44 EPS for the current year.
AMETEK announced that its Board of Directors has initiated a stock repurchase plan on Friday, May 6th that authorizes the company to repurchase $ 1.00 billion in shares. This repurchase authorization authorizes the technology company to repurchase up to 3.6% of its stock through open market purchases. Stock repurchase plans are generally an indication that the company management believes its shares are undervalued.
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, June 30th. Stockholders of record on Friday, June 10th will be issued a dividend of $ 0.22 per share. The ex-dividend date is Thursday, June 9th. This represents a $ 0.88 dividend on an annualized basis and a dividend yield of 0.76%. AMETEK’s payout ratio is 19.64%.
AMETEK Company Profile: (Get Rating)
AMETEK, Inc manufactures and sells electronic instruments and electromechanical devices worldwide. It operates in two segments, Electronic Instruments (EIG) and Electromechanical (EMG). The company EIG segment offers advanced instruments for the process, aerospace, power, and industrial markets; process and analytical 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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