JLB & Associates Inc. lessened its position in AMETEK, Inc. (NYSE:AME) by 4.1% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 103,213 shares of the technology company’s stock after selling 4,403 shares during the quarter. AMETEK accounts for 1.8% of JLB & Associates Inc.’s portfolio, making the stock its 26th largest position. JLB & Associates Inc.’s holdings in AMETEK were worth $8,563,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also bought and sold shares of AME. Oregon Public Employees Retirement Fund grew its position in AMETEK by 6,587.0% during the 4th quarter. Oregon Public Employees Retirement Fund now owns 1,702,384 shares of the technology company’s stock worth $25,000 after purchasing an additional 1,676,926 shares during the last quarter. IFP Advisors Inc lifted its stake in 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 acquiring an additional 191 shares during the period. Laurel Wealth Advisors LLC acquired a new stake in AMETEK during the 4th quarter valued at approximately $32,000. Liberty Wealth Management LLC acquired a new stake in AMETEK during the 1st quarter valued at approximately $40,000. Finally, SRS Capital Advisors Inc. lifted its stake in shares of AMETEK by 183.7% in the 4th quarter. SRS Capital Advisors Inc. now owns 749 shares of the technology company’s stock valued at $51,000 after purchasing an additional 485 shares during the period. 86.33% of the stock is currently owned by institutional investors and hedge funds.
A number of research firms have recently issued reports on AME. Berenberg Bank began coverage on shares of AMETEK in a report on Wednesday, May 15th. They set a “buy” rating and a $100.00 target price for the company. Zacks Investment Research raised shares of AMETEK from a “hold” rating to a “buy” rating and set a $84.00 price objective for the company in a report on Friday, February 8th. BMO Capital Markets upped their price objective on shares of AMETEK from $99.00 to $101.00 and gave the company an “outperform” rating in a report on Thursday, May 2nd. DA Davidson upped 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. Finally, Vertical Research reaffirmed a “buy” rating on shares of AMETEK in a research report on Friday, May 3rd. Fifteen research analysts have rated the stock with a buy rating, The company currently has a consensus rating of “Buy” and an average price target of $91.00.
NYSE:AME traded down $0.38 during mid-day trading on Friday, hitting $84.49. The stock had a trading volume of 1,031,500 shares, compared to its average volume of 1,181,860. The stock has a market cap of $19.48 billion, a price-to-earnings ratio of 25.68, a price-to-earnings-growth ratio of 2.20 and a beta of 1.21. AMETEK, Inc. has a twelve month low of $63.14 and a twelve month 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.
AMETEK (NYSE:AME) last announced its quarterly earnings results on Wednesday, May 1st. The technology company reported $1.00 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.97 by $0.03. The company had revenue of $1.29 billion for the quarter, compared to analyst estimates of $1.28 billion. AMETEK had a net margin of 16.14% and a return on equity of 18.56%. The firm’s revenue was up 9.8% on a year-over-year basis. During the same period in the prior year, the firm posted $0.79 earnings per share. On average, equities analysts anticipate that AMETEK, Inc. will post 4.07 EPS for the current year.
The business 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. The ex-dividend date of this dividend is Thursday, June 13th. This represents a $0.56 annualized dividend and a yield of 0.66%. AMETEK’s dividend payout ratio is currently 17.02%.
AMETEK announced that its board has approved a share repurchase plan on Wednesday, February 13th that allows the company to repurchase $500.00 million in shares. This repurchase authorization allows the technology company to buy up to 2.8% of its shares through open market purchases. Shares repurchase plans are typically an indication that the company’s board believes its shares are undervalued.
In related news, Director Dennis K. Williams sold 4,725 shares of AMETEK stock in a transaction on Wednesday, March 6th. The shares were sold at an average price of $79.41, for a total value of $375,212.25. Following the transaction, the director now directly owns 31,192 shares in the company, valued at approximately $2,476,956.72. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, VP Thomas M. Montgomery sold 3,536 shares of AMETEK stock in a transaction on Monday, February 25th. The shares were sold at an average price of $79.95, for a total transaction of $282,703.20. Following the completion of the transaction, the vice president now owns 20,191 shares in the company, valued at $1,614,270.45. The disclosure for this sale can be found here. Insiders sold 57,496 shares of company stock worth $4,633,720 over the last quarter. 0.80% of the stock is currently owned by insiders.
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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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