Sienna Gestion acquired a new stake in shares of AMETEK, Inc. (NYSE:AME – Free Report) in the fourth quarter, according to its most recent disclosure with the SEC. The firm acquired 10,000 shares of the technology company’s stock, valued at approximately $2,060,000.
A number of other institutional investors have also added to or reduced their stakes in the stock. Vanguard Group Inc. grew its holdings in AMETEK by 0.7% during the 3rd quarter. Vanguard Group Inc. now owns 27,173,705 shares of the technology company’s stock valued at $5,108,657,000 after buying an additional 176,040 shares in the last quarter. State Street Corp grew its holdings in AMETEK by 2.0% during the 4th quarter. State Street Corp now owns 9,956,361 shares of the technology company’s stock valued at $2,044,140,000 after buying an additional 192,677 shares in the last quarter. Geode Capital Management LLC grew its holdings in AMETEK by 0.6% during the 4th quarter. Geode Capital Management LLC now owns 5,891,236 shares of the technology company’s stock valued at $1,204,722,000 after buying an additional 37,651 shares in the last quarter. Invesco Ltd. grew its holdings in AMETEK by 4.9% during the 3rd quarter. Invesco Ltd. now owns 4,463,518 shares of the technology company’s stock valued at $839,141,000 after buying an additional 209,043 shares in the last quarter. Finally, Norges Bank purchased a new stake in AMETEK during the 4th quarter valued at approximately $831,372,000. 87.43% of the stock is owned by hedge funds and other institutional investors.
AMETEK Stock Up 1.5%
Shares of AME opened at $230.61 on Tuesday. The firm has a market capitalization of $52.86 billion, a P/E ratio of 34.84, a P/E/G ratio of 3.19 and a beta of 1.00. AMETEK, Inc. has a 12-month low of $174.43 and a 12-month high of $243.18. The company has a current ratio of 1.14, a quick ratio of 0.72 and a debt-to-equity ratio of 0.10. The firm has a fifty day moving average price of $229.17 and a 200-day moving average price of $220.80.
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 dividend yield of 0.6%. The ex-dividend date is Monday, June 15th. AMETEK’s payout ratio is presently 20.54%.
Analysts Set New Price Targets
A number of equities research analysts have issued reports on AME shares. DA Davidson reaffirmed a “buy” rating and set a $265.00 price objective on shares of AMETEK in a report on Monday, May 4th. Citigroup started coverage on shares of AMETEK in a report on Monday. They set a “neutral” rating and a $257.00 price objective for the company. Mizuho set a $270.00 price objective on shares of AMETEK in a report on Friday, May 1st. Barclays increased their price objective on shares of AMETEK from $220.00 to $230.00 and gave the company an “equal weight” rating in a report on Monday, May 4th. Finally, Robert W. Baird set a $244.00 target price on shares of AMETEK in a report on Friday, May 1st. One investment analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and five have assigned a Hold rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $252.69.
Read Our Latest Analysis on AME
Insider Buying and Selling at AMETEK
In related news, Director Thomas A. Amato sold 530 shares of AMETEK 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 in the company, valued at $971,174.40. The trade was a 10.58% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. 0.54% of the stock is owned by insiders.
About AMETEK
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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