Cynosure Group LLC acquired a new stake in AMETEK, Inc. (NYSE:AME – Free Report) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund acquired 2,427 shares of the technology company’s stock, valued at approximately $498,000.
A number of other institutional investors have also modified their holdings of AME. Captrust Financial Advisors grew its holdings in shares of AMETEK by 3.1% during the 3rd quarter. Captrust Financial Advisors now owns 268,096 shares of the technology company’s stock worth $50,402,000 after purchasing an additional 8,101 shares during the period. Y.D. More Investments Ltd purchased a new stake in shares of AMETEK during the 4th quarter worth about $1,653,000. Massachusetts Financial Services Co. MA lifted its stake in shares of AMETEK by 10.9% during the fourth quarter. Massachusetts Financial Services Co. MA now owns 959,937 shares of the technology company’s stock worth $197,085,000 after purchasing an additional 94,544 shares in the last quarter. MAI Capital Management lifted its stake in shares of AMETEK by 33.8% during the third quarter. MAI Capital Management now owns 18,403 shares of the technology company’s stock worth $3,460,000 after purchasing an additional 4,648 shares in the last quarter. Finally, Mitsubishi UFJ Asset Management Co. Ltd. lifted its stake in shares of AMETEK by 6.2% during the fourth quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 487,238 shares of the technology company’s stock worth $101,901,000 after purchasing an additional 28,621 shares in the last quarter. Hedge funds and other institutional investors own 87.43% of the company’s stock.
AMETEK Stock Up 0.8%
Shares of NYSE AME opened at $232.19 on Wednesday. AMETEK, Inc. has a 1 year low of $174.43 and a 1 year high of $243.18. The firm has a market cap of $53.22 billion, a price-to-earnings ratio of 35.07, a PEG ratio of 3.23 and a beta of 1.00. The company has a debt-to-equity ratio of 0.10, a quick ratio of 0.72 and a current ratio of 1.14. The stock’s 50-day simple moving average is $229.45 and its 200-day simple moving average is $221.05.
AMETEK Dividend Announcement
The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 30th. Investors of record on Monday, June 15th will be issued a $0.34 dividend. This represents a $1.36 annualized dividend and a yield of 0.6%. The ex-dividend date of this dividend is Monday, June 15th. AMETEK’s payout ratio is currently 20.54%.
Wall Street Analysts Forecast Growth
A number of brokerages have commented on AME. Barclays boosted their price objective on AMETEK from $220.00 to $230.00 and gave the stock an “equal weight” rating in a research note on Monday, May 4th. Morgan Stanley boosted their price objective on AMETEK from $215.00 to $235.00 and gave the stock an “equal weight” rating in a research note on Thursday, March 12th. DA Davidson restated a “buy” rating and set a $265.00 price objective on shares of AMETEK in a research note on Monday, May 4th. Royal Bank Of Canada boosted their price objective on AMETEK from $259.00 to $260.00 and gave the stock an “outperform” rating in a research note on Friday, May 1st. Finally, Weiss Ratings cut AMETEK from a “buy (b)” rating to a “buy (b-)” rating in a research note on Thursday, June 11th. One research analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and five have given a Hold rating to the company’s stock. According to MarketBeat, AMETEK currently has a consensus rating of “Moderate Buy” and a consensus target price of $252.69.
Read Our Latest Research Report on AME
Insiders Place Their Bets
In related news, Director Thomas A. Amato sold 530 shares of the business’s stock in a transaction dated Tuesday, March 24th. The stock was sold at an average price of $216.78, for a total value of $114,893.40. Following the completion of the sale, the director directly owned 4,480 shares of the company’s stock, valued at $971,174.40. The trade was a 10.58% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 0.54% of the stock is currently owned by corporate insiders.
AMETEK 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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