Gulf International Bank UK Ltd boosted its stake in shares of AMETEK, Inc. (NYSE:AME) by 4.9% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 74,936 shares of the technology company’s stock after buying an additional 3,516 shares during the quarter. Gulf International Bank UK Ltd’s holdings in AMETEK were worth $5,928,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds also recently made changes to their positions in AME. BlackRock Inc. lifted its holdings in AMETEK by 11.8% during the 2nd quarter. BlackRock Inc. now owns 18,178,345 shares of the technology company’s stock worth $1,311,749,000 after buying an additional 1,922,878 shares during the period. Millennium Management LLC lifted its holdings in AMETEK by 169.1% during the 2nd quarter. Millennium Management LLC now owns 1,647,306 shares of the technology company’s stock worth $118,870,000 after buying an additional 1,035,084 shares during the period. Renaissance Technologies LLC acquired a new position in AMETEK during the 2nd quarter worth about $40,825,000. BNP Paribas Arbitrage SA lifted its holdings in AMETEK by 714.2% during the 2nd quarter. BNP Paribas Arbitrage SA now owns 610,418 shares of the technology company’s stock worth $44,048,000 after buying an additional 535,447 shares during the period. Finally, Epoch Investment Partners Inc. lifted its holdings in AMETEK by 62.5% during the 2nd quarter. Epoch Investment Partners Inc. now owns 1,296,342 shares of the technology company’s stock worth $93,544,000 after buying an additional 498,391 shares during the period. 85.09% of the stock is currently owned by hedge funds and other institutional investors.
In other news, Director Elizebeth R. Varet sold 3,000 shares of the business’s stock in a transaction dated Wednesday, August 29th. The stock was sold at an average price of $77.26, for a total value of $231,780.00. Following the transaction, the director now directly owns 104,810 shares of the company’s stock, valued at approximately $8,097,620.60. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP William Joseph Burke sold 15,600 shares of the business’s stock in a transaction dated Tuesday, September 11th. The shares were sold at an average price of $80.00, for a total value of $1,248,000.00. Following the completion of the transaction, the vice president now directly owns 68,289 shares in the company, valued at $5,463,120. The disclosure for this sale can be found here. Insiders sold a total of 56,925 shares of company stock worth $4,580,360 over the last three months. 2.10% of the stock is owned by company insiders.
Several research analysts have commented on AME shares. Morgan Stanley cut their target price on AMETEK from $84.00 to $81.00 and set an “equal weight” rating on the stock in a report on Monday, November 5th. Robert W. Baird lifted their target price on AMETEK from $82.00 to $84.00 and gave the stock an “outperform” rating in a report on Friday, November 2nd. ValuEngine raised AMETEK from a “hold” rating to a “buy” rating in a report on Thursday, August 2nd. Royal Bank of Canada reaffirmed a “buy” rating and set a $86.00 target price on shares of AMETEK in a report on Wednesday, August 1st. Finally, BMO Capital Markets dropped their price objective on AMETEK from $93.00 to $91.00 and set an “outperform” rating on the stock in a research note on Friday, November 2nd. Two investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. The stock currently has an average rating of “Buy” and an average price target of $87.00.
Shares of NYSE:AME opened at $74.45 on Friday. The stock has a market capitalization of $17.46 billion, a PE ratio of 24.04, a price-to-earnings-growth ratio of 2.10 and a beta of 1.30. The company has a debt-to-equity ratio of 0.41, a quick ratio of 1.42 and a current ratio of 2.06. AMETEK, Inc. has a 1 year low of $64.91 and a 1 year high of $81.92.
AMETEK (NYSE:AME) last announced its quarterly earnings data on Thursday, November 1st. The technology company reported $0.82 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.78 by $0.04. The company had revenue of $1.19 billion for the quarter, compared to the consensus estimate of $1.18 billion. AMETEK had a return on equity of 17.08% and a net margin of 17.06%. The firm’s revenue was up 10.0% compared to the same quarter last year. During the same period in the previous year, the business earned $0.66 EPS. On average, equities research analysts forecast that AMETEK, Inc. will post 3.27 EPS for the current fiscal year.
AMETEK Company Profile
AMETEK, Inc manufactures and sells electronic instruments and electromechanical devices worldwide. Its Electronic Instruments Group segment offers advanced instruments for the process, power and industrial, and aerospace markets; process and analytical instruments for the oil, gas, petrochemical, pharmaceutical, semiconductor, automation, and food and beverage markets; and instruments for the laboratory equipment, ultraprecision manufacturing, medical, and test and measurement markets.
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