Arrowstreet Capital Limited Partnership trimmed its position in AMETEK, Inc. (NYSE:AME – Free Report) by 28.5% during the 4th quarter, Holdings Channel.com reports. The fund owned 444,328 shares of the technology company’s stock after selling 177,402 shares during the period. Arrowstreet Capital Limited Partnership’s holdings in AMETEK were worth $91,225,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other hedge funds have also recently made changes to their positions in AME. Darwin Wealth Management LLC acquired a new position in shares of AMETEK in the 2nd quarter valued at $25,000. CoreCap Advisors LLC increased its position in shares of AMETEK by 84.3% in the 4th quarter. CoreCap Advisors LLC now owns 129 shares of the technology company’s stock valued at $26,000 after acquiring an additional 59 shares during the period. BOKF NA increased its position in shares of AMETEK by 137.7% in the 4th quarter. BOKF NA now owns 145 shares of the technology company’s stock valued at $30,000 after acquiring an additional 84 shares during the period. Transamerica Financial Advisors LLC increased its position in shares of AMETEK by 73.9% in the 4th quarter. Transamerica Financial Advisors LLC now owns 153 shares of the technology company’s stock valued at $31,000 after acquiring an additional 65 shares during the period. Finally, Flagship Harbor Advisors LLC acquired a new position in shares of AMETEK in the 4th quarter valued at $32,000. 87.43% of the stock is owned by institutional investors and hedge funds.
AMETEK Trading Up 1.5%
AME stock opened at $230.61 on Tuesday. The company’s 50-day simple moving average is $229.17 and its 200-day simple moving average is $220.80. The company has a quick ratio of 0.72, a current ratio of 1.14 and a debt-to-equity ratio of 0.10. AMETEK, Inc. has a 52-week low of $174.43 and a 52-week high of $243.18. The firm has a market cap of $52.86 billion, a P/E ratio of 34.84, a PEG ratio of 3.19 and a beta of 1.00.
AMETEK Dividend Announcement
The company also recently announced a quarterly dividend, which will be paid on Tuesday, June 30th. Stockholders of record on Monday, June 15th will be paid a dividend of $0.34 per share. This represents a $1.36 annualized dividend and a dividend yield of 0.6%. The ex-dividend date of this dividend is Monday, June 15th. AMETEK’s dividend payout ratio is presently 20.54%.
Insider Activity
In other news, Director Thomas A. Amato sold 530 shares of the stock in a transaction dated Tuesday, March 24th. The shares were sold at an average price of $216.78, for a total transaction of $114,893.40. Following the sale, the director directly owned 4,480 shares of the company’s stock, valued at $971,174.40. This represents a 10.58% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 0.54% of the stock is currently owned by insiders.
Analyst Ratings Changes
Several equities research analysts have commented on AME shares. Weiss Ratings lowered shares of AMETEK from a “buy (b)” rating to a “buy (b-)” rating in a report on Thursday. BMO Capital Markets started coverage on shares of AMETEK in a report on Friday, March 27th. They issued an “outperform” rating and a $253.00 price target on the stock. Citigroup started coverage on shares of AMETEK in a report on Monday. They issued a “neutral” rating and a $257.00 price target on the stock. Mizuho set a $270.00 price target on shares of AMETEK in a report on Friday, May 1st. Finally, DA Davidson reaffirmed a “buy” rating and issued a $265.00 price target on shares of AMETEK in a report on Monday, May 4th. One investment analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and five have assigned a Hold rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $252.69.
View Our Latest Stock Analysis on AME
AMETEK Company Profile
AMETEK, Inc is a global manufacturer of electronic instruments and electromechanical devices that serves a broad range of industries. Headquartered in Berwyn, Pennsylvania, the company designs and produces precision instruments, electronic measurement devices, specialty sensors, and electric motors and motion control systems. Its product portfolio includes analytical and monitoring instruments, calibration equipment, power supplies, embedded electronics, and industrial motors and drives used for critical applications.
The company operates through two primary business platforms — an electronic instruments group focused on analytical, test and measurement and sensor products, and an electromechanical group that supplies motors, actuators, and related power and motion solutions.
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