Mar Vista Investment Partners LLC cut its stake in AMETEK, Inc. (NYSE:AME – Free Report) by 2.5% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 175,324 shares of the technology company’s stock after selling 4,503 shares during the period. AMETEK accounts for 3.3% of Mar Vista Investment Partners LLC’s investment portfolio, making the stock its 14th largest holding. Mar Vista Investment Partners LLC’s holdings in AMETEK were worth $35,996,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other hedge funds have also recently added to or reduced their stakes in AME. Darwin Wealth Management LLC acquired a new position in shares of AMETEK in the 2nd quarter worth approximately $25,000. CoreCap Advisors LLC increased its position in shares of AMETEK by 84.3% during the fourth 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 raised its stake in AMETEK by 137.7% during the fourth quarter. BOKF NA now owns 145 shares of the technology company’s stock worth $30,000 after buying an additional 84 shares during the last quarter. Transamerica Financial Advisors LLC lifted its holdings in AMETEK by 73.9% in the fourth quarter. Transamerica Financial Advisors LLC now owns 153 shares of the technology company’s stock valued at $31,000 after buying an additional 65 shares during the period. Finally, Flagship Harbor Advisors LLC acquired a new position in AMETEK in the fourth quarter valued at $32,000. Institutional investors own 87.43% of the company’s stock.
AMETEK Trading Up 0.8%
AME opened at $232.19 on Wednesday. The company has a fifty day moving average price of $229.45 and a two-hundred day moving average price of $221.05. AMETEK, Inc. has a 1-year low of $174.43 and a 1-year high of $243.18. The company has a market cap of $53.22 billion, a P/E ratio of 35.07, a price-to-earnings-growth ratio of 3.23 and a beta of 1.00. The company has a current ratio of 1.14, a quick ratio of 0.72 and a debt-to-equity ratio of 0.10.
AMETEK Dividend Announcement
The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 30th. Shareholders of record on Monday, June 15th will be paid a $0.34 dividend. This represents a $1.36 dividend on an annualized basis and a yield of 0.6%. The ex-dividend date of this dividend is Monday, June 15th. AMETEK’s dividend payout ratio (DPR) is 20.54%.
Insider Activity at AMETEK
In other news, Director Thomas A. Amato sold 530 shares of the company’s stock in a transaction that occurred 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 transaction, the director directly owned 4,480 shares of the company’s stock, valued at $971,174.40. This represents 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 through this link. 0.54% of the stock is currently owned by corporate insiders.
Analysts Set New Price Targets
A number of brokerages have weighed in on AME. BMO Capital Markets assumed coverage on AMETEK in a report on Friday, March 27th. They set an “outperform” rating and a $253.00 price target for the company. Robert W. Baird set a $244.00 target price on AMETEK in a research report on Friday, May 1st. DA Davidson reaffirmed a “buy” rating and set a $265.00 target price on shares of AMETEK in a research note on Monday, May 4th. 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 note on Friday, May 1st. Finally, Weiss Ratings cut AMETEK from a “buy (b)” rating to a “buy (b-)” rating in a report on Thursday, June 11th. One 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 stock. Based on data from MarketBeat, AMETEK currently has a consensus rating of “Moderate Buy” and an average price target of $252.69.
View Our Latest Research Report on AMETEK
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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