Waratah Capital Advisors Ltd. boosted its stake in shares of AMETEK, Inc. (NYSE:AME) by 181.8% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 112,867 shares of the technology company’s stock after purchasing an additional 72,816 shares during the period. AMETEK comprises 1.2% of Waratah Capital Advisors Ltd.’s portfolio, making the stock its 29th largest holding. Waratah Capital Advisors Ltd.’s holdings in AMETEK were worth $10,363,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other institutional investors also recently modified their holdings of the stock. Metropolitan Life Insurance Co NY boosted its position in AMETEK by 19.2% during the 3rd quarter. Metropolitan Life Insurance Co NY now owns 42,866 shares of the technology company’s stock worth $3,936,000 after buying an additional 6,917 shares during the period. Millennium Management LLC increased its position in AMETEK by 1,095.6% during the 3rd quarter. Millennium Management LLC now owns 374,318 shares of the technology company’s stock valued at $34,369,000 after purchasing an additional 343,010 shares during the period. Saya Management LP raised its holdings in AMETEK by 2.2% during the 3rd quarter. Saya Management LP now owns 200,387 shares of the technology company’s stock worth $18,400,000 after purchasing an additional 4,300 shares during the last quarter. National Pension Service raised its holdings in AMETEK by 5.3% during the 3rd quarter. National Pension Service now owns 322,546 shares of the technology company’s stock worth $29,616,000 after purchasing an additional 16,304 shares during the last quarter. Finally, Integrated Wealth Concepts LLC lifted its position in shares of AMETEK by 19.6% in the 3rd quarter. Integrated Wealth Concepts LLC now owns 2,908 shares of the technology company’s stock worth $267,000 after purchasing an additional 476 shares during the period. Institutional investors own 86.26% of the company’s stock.
NYSE:AME traded down $0.87 during trading hours on Tuesday, reaching $96.67. The company had a trading volume of 21,392 shares, compared to its average volume of 1,056,538. The company has a quick ratio of 1.48, a current ratio of 2.05 and a debt-to-equity ratio of 0.46. The firm has a market cap of $22.63 billion, a price-to-earnings ratio of 29.34, a P/E/G ratio of 2.19 and a beta of 1.23. The business’s 50-day simple moving average is $94.33 and its two-hundred day simple moving average is $89.17. AMETEK, Inc. has a twelve month low of $63.14 and a twelve month high of $99.74.
AMETEK (NYSE:AME) last announced its quarterly earnings data on Thursday, October 31st. The technology company reported $1.06 earnings per share for the quarter, beating the consensus estimate of $1.01 by $0.05. The firm had revenue of $1.28 billion for the quarter, compared to analyst estimates of $1.28 billion. AMETEK had a net margin of 16.63% and a return on equity of 20.04%. The business’s quarterly revenue was up 7.0% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.91 earnings per share. As a group, equities analysts predict that AMETEK, Inc. will post 4.14 earnings per share for the current year.
The company also recently declared a quarterly dividend, which will be paid on Friday, December 20th. Investors of record on Friday, December 6th will be paid a dividend of $0.14 per share. This represents a $0.56 dividend on an annualized basis and a yield of 0.58%. The ex-dividend date of this dividend is Thursday, December 5th. AMETEK’s dividend payout ratio (DPR) is currently 17.02%.
In other AMETEK news, insider Thomas C. Marecic sold 13,990 shares of the firm’s stock in a transaction on Monday, November 4th. The shares were sold at an average price of $95.02, for a total value of $1,329,329.80. Following the transaction, the insider now directly owns 36,014 shares of the company’s stock, valued at $3,422,050.28. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Elizebeth R. Varet sold 3,000 shares of the firm’s stock in a transaction on Tuesday, November 5th. The shares were sold at an average price of $96.20, for a total transaction of $288,600.00. Following the completion of the transaction, the director now directly owns 90,670 shares in the company, valued at $8,722,454. The disclosure for this sale can be found here. In the last quarter, insiders sold 49,070 shares of company stock worth $4,745,902. Corporate insiders own 0.80% of the company’s stock.
A number of equities research analysts have recently commented on the stock. Gordon Haskett initiated coverage on shares of AMETEK in a research note on Wednesday, November 27th. They issued a “buy” rating and a $125.00 price objective on the stock. ValuEngine upgraded shares of AMETEK from a “sell” rating to a “hold” rating in a report on Friday, November 1st. Morgan Stanley set a $102.00 price target on shares of AMETEK and gave the company a “buy” rating in a research report on Friday, November 1st. Rosenblatt Securities began coverage on AMETEK in a report on Thursday, November 7th. They set a “buy” rating and a $115.00 price target for the company. Finally, KeyCorp lifted their price objective on AMETEK from $100.00 to $110.00 and gave the stock an “overweight” rating in a research report on Tuesday, November 19th. Two investment analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. The company presently has a consensus rating of “Buy” and an average price target of $100.29.
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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