The Manufacturers Life Insurance Company Trims Stock Position in AMETEK, Inc. $AME

The Manufacturers Life Insurance Company lessened its stake in AMETEK, Inc. (NYSE:AME) by 28.1% in the 1st quarter, HoldingsChannel.com reports. The institutional investor owned 146,353 shares of the technology company’s stock after selling 57,200 shares during the period. The Manufacturers Life Insurance Company’s holdings in AMETEK were worth $31,372,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also recently modified their holdings of the company. Florida Financial Advisors LLC grew its stake in shares of AMETEK by 2.2% during the 4th quarter. Florida Financial Advisors LLC now owns 1,974 shares of the technology company’s stock worth $406,000 after purchasing an additional 43 shares during the period. Plato Investment Management Ltd increased its holdings in shares of AMETEK by 0.4% during the 4th quarter. Plato Investment Management Ltd now owns 10,751 shares of the technology company’s stock valued at $2,218,000 after purchasing an additional 47 shares in the last quarter. Allegiance Financial Group Advisory Services LLC lifted its stake in shares of AMETEK by 4.0% in the 4th quarter. Allegiance Financial Group Advisory Services LLC now owns 1,254 shares of the technology company’s stock valued at $257,000 after purchasing an additional 48 shares during the period. Washington Trust Advisors Inc. lifted its stake in shares of AMETEK by 6.2% in the 4th quarter. Washington Trust Advisors Inc. now owns 850 shares of the technology company’s stock valued at $175,000 after purchasing an additional 50 shares during the period. Finally, Root Financial Partners LLC boosted its holdings in AMETEK by 18.3% during the first quarter. Root Financial Partners LLC now owns 323 shares of the technology company’s stock worth $69,000 after buying an additional 50 shares in the last quarter. Hedge funds and other institutional investors own 87.43% of the company’s stock.

AMETEK Price Performance

AME stock opened at $242.19 on Friday. AMETEK, Inc. has a 52-week low of $179.24 and a 52-week high of $244.97. The company has a quick ratio of 0.72, a current ratio of 1.14 and a debt-to-equity ratio of 0.10. The stock has a market cap of $55.51 billion, a price-to-earnings ratio of 36.58, a price-to-earnings-growth ratio of 3.36 and a beta of 0.99. The business has a fifty day moving average of $233.57 and a two-hundred day moving average of $228.52.

AMETEK (NYSE:AME) last announced its earnings results on Thursday, April 30th. The technology company reported $1.97 earnings per share for the quarter, topping the consensus estimate of $1.90 by $0.07. The company had revenue of $1.93 billion during the quarter, compared to analyst estimates of $1.91 billion. AMETEK had a net margin of 20.11% and a return on equity of 16.63%. AMETEK’s revenue was up 11.3% compared to the same quarter last year. During the same quarter last year, the firm posted $1.75 earnings per share. As a group, research analysts anticipate that AMETEK, Inc. will post 8.14 earnings per share for the current year.

AMETEK Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, June 30th. Investors of record on Monday, June 15th were paid a dividend of $0.34 per share. This represents a $1.36 annualized dividend and a yield of 0.6%. The ex-dividend date of this dividend was Monday, June 15th. AMETEK’s dividend payout ratio is presently 20.54%.

Analyst Ratings Changes

Several equities analysts recently weighed in on the company. Morgan Stanley lifted their price target on AMETEK from $235.00 to $245.00 and gave the company an “equal weight” rating in a research note on Friday, July 10th. Wall Street Zen downgraded AMETEK from a “buy” rating to a “hold” rating in a research report on Sunday, May 10th. Weiss Ratings lowered AMETEK from a “buy (b)” rating to a “buy (b-)” rating in a report on Tuesday. Robert W. Baird set a $244.00 target price on AMETEK in a research note on Friday, May 1st. Finally, Barclays increased their target price on AMETEK from $220.00 to $230.00 and gave the company an “equal weight” rating in a research report on Monday, May 4th. One equities research analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and five have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $256.29.

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.