BNP PARIBAS ASSET MANAGEMENT Holding S.A. lowered its holdings in shares of AMETEK, Inc. (NYSE:AME) by 25.7% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 6,586 shares of the technology company’s stock after selling 2,277 shares during the quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A.’s holdings in AMETEK were worth $546,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other institutional investors and hedge funds have also recently made changes to their positions in the stock. Enterprise Financial Services Corp grew its position in AMETEK by 6,023.8% in the 1st quarter. Enterprise Financial Services Corp now owns 2,572 shares of the technology company’s stock worth $213,000 after purchasing an additional 2,530 shares during the last quarter. Braun Stacey Associates Inc. acquired a new stake in AMETEK in the 1st quarter worth $12,045,000. Los Angeles Capital Management & Equity Research Inc. grew its position in AMETEK by 2.7% in the 1st quarter. Los Angeles Capital Management & Equity Research Inc. now owns 480,164 shares of the technology company’s stock worth $39,839,000 after purchasing an additional 12,770 shares during the last quarter. Radnor Capital Management LLC acquired a new stake in AMETEK in the 1st quarter worth $215,000. Finally, Meritage Portfolio Management grew its position in AMETEK by 0.4% in the 1st quarter. Meritage Portfolio Management now owns 91,617 shares of the technology company’s stock worth $7,601,000 after purchasing an additional 354 shares during the last quarter. Hedge funds and other institutional investors own 85.72% of the company’s stock.
In other AMETEK news, Director Dennis K. Williams sold 4,725 shares of the business’s stock in a transaction dated Wednesday, March 6th. The shares were sold at an average price of $79.41, for a total value of $375,212.25. Following the completion of the transaction, the director now directly owns 31,192 shares of the company’s stock, valued at $2,476,956.72. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, VP William D. Eginton sold 15,546 shares of the business’s stock in a transaction dated Friday, March 1st. The stock was sold at an average price of $80.00, for a total transaction of $1,243,680.00. Following the completion of the transaction, the vice president now directly owns 59,516 shares of the company’s stock, valued at $4,761,280. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 57,696 shares of company stock valued at $4,649,710. Insiders own 0.80% of the company’s stock.
AME has been the topic of several recent research reports. ValuEngine upgraded shares of AMETEK from a “hold” rating to a “buy” rating in a research report on Wednesday, May 1st. BMO Capital Markets reiterated a “buy” rating and set a $90.00 target price on shares of AMETEK in a research report on Tuesday, January 29th. DA Davidson lifted their target price on shares of AMETEK to $92.00 and gave the company a “buy” rating in a research 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 research report on Friday, February 8th. Finally, Morgan Stanley set a $95.00 target price on shares of AMETEK and gave the company a “buy” rating in a research report on Friday, May 3rd. Fifteen analysts have rated the stock with a buy rating, The company has a consensus rating of “Buy” and a consensus target price of $91.00.
AME stock traded down $0.86 during trading on Wednesday, hitting $85.61. 981,515 shares of the stock traded hands, compared to its average volume of 1,183,214. AMETEK, Inc. has a one year low of $63.14 and a one year high of $88.76. The company has a market capitalization of $19.57 billion, a P/E ratio of 26.02, a P/E/G ratio of 2.19 and a beta of 1.21. The company has a quick ratio of 1.27, a current ratio of 1.91 and a debt-to-equity ratio of 0.53.
AMETEK (NYSE:AME) last announced its quarterly earnings results on Wednesday, May 1st. The technology company reported $1.00 earnings per share (EPS) for the quarter, beating 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 period last year, the firm posted $0.79 EPS. The firm’s quarterly revenue was up 9.8% on a year-over-year basis. As a group, research analysts expect that AMETEK, Inc. will post 4.07 earnings per share for the current year.
AMETEK declared that its Board of Directors has authorized a share buyback program 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 programs are usually an indication that the company’s management believes its stock is undervalued.
The business also recently announced 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 dividend on an annualized basis and a dividend yield of 0.65%. The ex-dividend date is Thursday, June 13th. AMETEK’s dividend payout ratio is presently 17.02%.
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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.
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