Pinnbrook Capital Management LP bought a new position in shares of AMETEK, Inc. (NYSE:AME – Free Report) in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The firm bought 52,161 shares of the technology company’s stock, valued at approximately $10,709,000. AMETEK accounts for approximately 1.5% of Pinnbrook Capital Management LP’s holdings, making the stock its 16th biggest position.
Several other hedge funds and other institutional investors have also modified their holdings of AME. Darwin Wealth Management LLC bought a new position in shares of AMETEK during the 2nd quarter worth approximately $25,000. CoreCap Advisors LLC lifted its position in shares of AMETEK by 84.3% during the 4th quarter. CoreCap Advisors LLC now owns 129 shares of the technology company’s stock worth $26,000 after buying an additional 59 shares during the period. BOKF NA lifted its position in shares of AMETEK by 137.7% during the 4th quarter. BOKF NA now owns 145 shares of the technology company’s stock worth $30,000 after buying an additional 84 shares during the period. Flagship Harbor Advisors LLC bought a new position in shares of AMETEK during the 4th quarter worth approximately $32,000. Finally, Grey Fox Wealth Advisors LLC bought a new position in shares of AMETEK during the 3rd quarter worth approximately $39,000. Institutional investors own 87.43% of the company’s stock.
AMETEK Stock Down 0.7%
NYSE AME opened at $223.11 on Friday. The stock has a fifty day moving average of $224.96 and a 200-day moving average of $217.03. The stock has a market capitalization of $51.14 billion, a P/E ratio of 33.70, a price-to-earnings-growth ratio of 3.15 and a beta of 1.03. AMETEK, Inc. has a 52 week low of $174.43 and a 52 week high of $243.18. The company has a debt-to-equity ratio of 0.10, a quick ratio of 0.72 and a current ratio of 1.14.
AMETEK Announces Dividend
The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 30th. Investors of record on Monday, June 15th will be paid a dividend of $0.34 per share. The ex-dividend date of this dividend is Monday, June 15th. This represents a $1.36 dividend on an annualized basis and a dividend yield of 0.6%. AMETEK’s payout ratio is 20.54%.
Insider Activity at AMETEK
In related news, Director Thomas A. Amato sold 530 shares of AMETEK stock in a transaction on Tuesday, March 24th. The stock was sold at an average price of $216.78, for a total transaction 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 document filed with the Securities & Exchange Commission, which is available at this link. 0.54% of the stock is currently owned by company insiders.
Analyst Ratings Changes
AME has been the subject of a number of recent analyst reports. TD Cowen reaffirmed a “buy” rating on shares of AMETEK in a report on Tuesday, February 3rd. Weiss Ratings reaffirmed a “buy (b)” rating on shares of AMETEK in a report on Wednesday. BMO Capital Markets initiated coverage on AMETEK in a report on Friday, March 27th. They set an “outperform” rating and a $253.00 price target for the company. Barclays raised their price target on AMETEK from $220.00 to $230.00 and gave the company an “equal weight” rating in a report on Monday, May 4th. Finally, KeyCorp raised their price target on AMETEK from $235.00 to $260.00 and gave the company an “overweight” rating in a report on Wednesday, February 4th. One equities research analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and four have assigned a Hold rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $252.33.
View Our Latest Research Report on AME
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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