Cubist Systematic Strategies LLC lowered its holdings in AMETEK, Inc. (NYSE:AME – Get Rating) by 27.0% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 88,453 shares of the technology company’s stock after selling 32,666 shares during the period. Cubist Systematic Strategies LLC’s holdings in AMETEK were worth $10,031,000 as of its most recent SEC filing.
A number of other institutional investors have also recently bought and sold shares of the business. Covestor Ltd boosted its holdings in shares of AMETEK by 84.3% in the 1st quarter. Covestor Ltd now owns 212 shares of the technology company’s stock worth $28,000 after buying an additional 97 shares during the last quarter. Ten Capital Wealth Advisors LLC raised its position in AMETEK by 78.1% in the third quarter. Ten Capital Wealth Advisors LLC now owns 228 shares of the technology company’s stock worth $26,000 after acquiring an additional 100 shares during the period. Quent Capital LLC boosted its stake in AMETEK by 64.0% in the third quarter. Quent Capital LLC now owns 228 shares of the technology company’s stock valued at $26,000 after acquiring an additional 89 shares during the last quarter. Zions Bancorporation N.A. grew its position in shares of AMETEK by 726.5% during the 1st quarter. Zions Bancorporation N.A. now owns 281 shares of the technology company’s stock valued at $37,000 after acquiring an additional 247 shares during the period. Finally, Parkside Financial Bank & Trust increased its stake in shares of AMETEK by 31.4% during the 1st quarter. Parkside Financial Bank & Trust now owns 439 shares of the technology company’s stock worth $59,000 after purchasing an additional 105 shares during the last quarter. Institutional investors own 85.42% of the company’s stock.
Analyst Upgrades and Downgrades
Several equities analysts recently commented on the company. Royal Bank of Canada upped their price objective on AMETEK from $135.00 to $136.00 and gave the company an “outperform” rating in a research note on Wednesday, November 2nd. Mizuho increased their price target on AMETEK from $145.00 to $153.00 and gave the stock a “buy” rating in a research note on Friday, January 13th. KeyCorp lifted their price objective on AMETEK from $145.00 to $165.00 and gave the stock an “overweight” rating in a report on Monday, November 21st. Wolfe Research downgraded shares of AMETEK from an “outperform” rating to a “peer perform” rating in a report on Thursday. Finally, Morgan Stanley lifted their target price on shares of AMETEK from $152.00 to $155.00 and gave the stock an “overweight” rating in a research note on Friday, February 3rd. Four investment analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $151.11.
AMETEK Stock Performance
NYSE:AME opened at $140.94 on Friday. The company has a debt-to-equity ratio of 0.29, a quick ratio of 0.95 and a current ratio of 1.62. AMETEK, Inc. has a 52-week low of $106.17 and a 52-week high of $148.06. The firm has a market cap of $32.43 billion, a price-to-earnings ratio of 28.13, a PEG ratio of 2.71 and a beta of 1.21. The business’s fifty day moving average is $142.83 and its 200 day moving average is $133.01.
AMETEK (NYSE:AME – Get Rating) last released its quarterly earnings data on Thursday, February 2nd. The technology company reported $1.52 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.47 by $0.05. AMETEK had a return on equity of 18.46% and a net margin of 18.85%. The company had revenue of $1.63 billion for the quarter, compared to analyst estimates of $1.59 billion. During the same period in the previous year, the company posted $1.37 EPS. The firm’s revenue for the quarter was up 8.7% compared to the same quarter last year. Research analysts predict that AMETEK, Inc. will post 5.98 EPS for the current year.
AMETEK Increases Dividend
The business also recently disclosed a quarterly dividend, which will be paid on Friday, March 31st. Investors of record on Friday, March 10th will be paid a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.71%. This is a positive change from AMETEK’s previous quarterly dividend of $0.22. The ex-dividend date is Thursday, March 9th. AMETEK’s payout ratio is presently 17.56%.
Insider Activity at AMETEK
In other AMETEK news, insider Ronald J. Oscher sold 6,500 shares of the company’s stock in a transaction dated Wednesday, February 15th. The stock was sold at an average price of $145.28, for a total value of $944,320.00. Following the transaction, the insider now directly owns 28,563 shares in the company, valued at approximately $4,149,632.64. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other AMETEK news, Director Gretchen W. Mcclain sold 2,720 shares of the company’s stock in a transaction dated Wednesday, December 28th. The stock was sold at an average price of $140.62, for a total value of $382,486.40. Following the transaction, the director now directly owns 14,704 shares in the company, valued at approximately $2,067,676.48. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Ronald J. Oscher sold 6,500 shares of the company’s stock in a transaction dated Wednesday, February 15th. The stock was sold at an average price of $145.28, for a total value of $944,320.00. Following the completion of the transaction, the insider now owns 28,563 shares in the company, valued at $4,149,632.64. The disclosure for this sale can be found here. 0.72% of the stock is currently owned by corporate insiders.
About AMETEK
AMETEK, Inc engages in the manufacture of electronic instruments and electromechanical devices. It operates through the following two segments: Electronic Instruments and Electromechanical. The Electronic Instruments segment designs and manufactures advanced instruments for the process, aerospace, power and industrial markets.
See Also
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