Man Group plc boosted its holdings in AMETEK, Inc. (NYSE:AME – Free Report) by 39.8% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 1,097,509 shares of the technology company’s stock after purchasing an additional 312,489 shares during the quarter. Man Group plc owned approximately 0.48% of AMETEK worth $225,330,000 as of its most recent filing with the Securities and Exchange Commission.
Several other institutional investors have also recently added to or reduced their stakes in AME. Vanguard Group Inc. grew its position in AMETEK by 0.7% during the third quarter. Vanguard Group Inc. now owns 27,173,705 shares of the technology company’s stock valued at $5,108,657,000 after acquiring an additional 176,040 shares during the period. State Street Corp grew its position in AMETEK by 2.0% during the fourth quarter. State Street Corp now owns 9,956,361 shares of the technology company’s stock valued at $2,044,140,000 after acquiring an additional 192,677 shares during the period. Geode Capital Management LLC grew its position in AMETEK by 0.6% during the fourth quarter. Geode Capital Management LLC now owns 5,891,236 shares of the technology company’s stock valued at $1,204,722,000 after acquiring an additional 37,651 shares during the period. Invesco Ltd. grew its position in AMETEK by 4.9% during the third quarter. Invesco Ltd. now owns 4,463,518 shares of the technology company’s stock valued at $839,141,000 after acquiring an additional 209,043 shares during the period. Finally, Norges Bank purchased a new stake in AMETEK during the fourth quarter valued at about $831,372,000. 87.43% of the stock is currently owned by institutional investors and hedge funds.
AMETEK Price Performance
Shares of NYSE AME opened at $231.06 on Thursday. AMETEK, Inc. has a 1-year low of $174.43 and a 1-year high of $243.18. The business has a 50-day moving average of $229.70 and a 200-day moving average of $221.29. The company has a debt-to-equity ratio of 0.10, a current ratio of 1.14 and a quick ratio of 0.72. The company has a market capitalization of $52.96 billion, a price-to-earnings ratio of 34.90, a PEG ratio of 3.25 and a beta of 1.00.
AMETEK Dividend Announcement
The firm also recently declared a quarterly dividend, which will be paid on Tuesday, June 30th. Investors of record on Monday, June 15th will be paid a $0.34 dividend. The ex-dividend date is Monday, June 15th. This represents a $1.36 annualized dividend 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 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 transaction, the director owned 4,480 shares in the company, valued at approximately $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 can be accessed through this link. Company insiders own 0.54% of the company’s stock.
Analyst Ratings Changes
AME has been the subject of a number of research reports. Royal Bank Of Canada boosted their price target on AMETEK from $259.00 to $260.00 and gave the company an “outperform” rating in a research report on Friday, May 1st. Barclays boosted their price target on AMETEK from $220.00 to $230.00 and gave the company an “equal weight” rating in a research report on Monday, May 4th. Morgan Stanley boosted their price target on AMETEK from $215.00 to $235.00 and gave the company an “equal weight” rating in a research report on Thursday, March 12th. Citigroup started coverage on AMETEK in a research report on Monday. They set a “neutral” rating and a $257.00 price target for the company. Finally, Wall Street Zen downgraded AMETEK from a “buy” rating to a “hold” rating in a research report on Sunday, May 10th. One investment analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and five have issued a Hold rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $252.69.
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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