MainStreet Investment Advisors LLC reduced its position in AMETEK, Inc. (NYSE: AME – Get Rating) by 41.1% in the fourth quarter, according to its latest Form 13F filed with the Securities and Exchange Commission (SEC). The institutional investor sold 1,900 of his shares during the quarter, after which he owned 2,724 shares of the technology company. His AMETEK holdings in MainStreet Investment Advisors LLC were valued at $381,000 at the end of the most recent quarter.
Several other hedge funds have also recently bought and sold shares of AME. CCLA Investment Management said in the third quarter he won a new position at AMETEK worth about $69,179,000. Goldman Sachs Group Inc. increased his stake in AMETEK by 45.6% in the first quarter. Goldman Sachs Group Inc. now owns 1,549,101 shares in technology companies valued at $263,100,000 after acquiring an additional 485,407 shares during the previous quarter. Vanguard Group Inc. increased his AMETEK stake by 1.9% in the first quarter. Vanguard Group Inc. now owns 24,608,566 shares of the technology company worth $3,277,369,000 after acquiring an additional 463,926 shares during the previous quarter. Ceredex Value Advisors LLC acquired a new position in his AMETEK stock worth approximately $45,931,000 in the third quarter. Finally, Wellington Management Group LLP increased his AMETEK shareholding by 22.2% in the first quarter. Wellington Management Group LLP now owns 2,054,304 shares in technology companies valued at $273,593,000 after acquiring an additional 373,148 shares during the previous quarter. 85.42% of the shares are owned by institutional investors and hedge funds.
AMETEK deal up 0.3%
AME shares opened at $137.97 on Friday. His 50-day moving average price for this business is $140.30 and his 200-day moving average price is $137.56. AMETEK, Inc. hit a 52-week low of $106.17 and a 52-week high of $148.06. The stock has a market cap of $31.77 billion, a price/earnings ratio of 27.54, a P/E/G ratio of 2.64 and a beta of 1.22. The company has a debt to equity ratio of 0.29, a current ratio of 1.62 and a quick ratio of 0.95.
AMETEK (NYSE:AME – Get Rating) last reported earnings on Thursday, February 2nd. The tech company reported EPS of $1.52 for the quarter, $0.05 above consensus expectations of $1.47. The company’s earnings for the quarter were $1.63 billion, compared with analyst estimates of $1.59 billion. AMETEK’s return on equity was 18.46% and net profit margin was 18.85%. Business revenue for the quarter increased 8.7% year-over-year. During the same period last year, the company earned his EPS of $1.37. Analysts expect AMETEK, Inc. to post his 5.98 EPS for the current financial year.
AMETEK increases dividend
The company recently announced a quarterly dividend, which was paid out on Friday, March 31st. Dividends of $0.25 per share were issued to shareholders of record on Friday, March 10. The ex-dividend date for this dividend was Thursday, March 9. This is a positive change from AMETEK’s previous quarterly dividend of $0.22. This represents an annualized dividend of $1.00 and a yield of 0.72%. AMETEK’s payout percentage is currently 19.96%.
Wall Street Analyst Predicts Growth
AME has been the topic of many analyst reports. Wolfe Research downgraded AMETEK from ‘outperform’ to ‘equal performance’ in its report on Thursday, February 23rd. Morgan Stanley raised AMETEK’s target price from $152.00 to his $155.00, giving the company an “Overweight” rating in its research notes on Friday, February 3. StockNews.com assumed his coverage of AMETEK in its investigative notes on Thursday, March 16th. They set a “buy” rating for the company. Mizuho raised AMETEK’s price target from $145.00 to $153.00, giving the company a ‘buy’ rating in its research notes on Friday, January 13. Finally, Loop Capital raised its target price for AMETEK from $160.00 to $164.00 in his Thursday, January 12 research report. Three investment analysts rated the stock as a hold and seven rated the company’s stock as a buy. According to MarketBeat data, the company has an average rating of “moderate buy” and a consensus target price of $151.11.
Insider activity
In other news, director Anthony James Conti sold 2,000 shares of the company’s stock in a transaction on Friday, March 3rd. The shares were sold at an average price of $143.61 for a total of $287,220.00. After the sale, the directors now directly own 26,078 shares of the company, valued at $3,745,061.58. The sale was disclosed in filings with the SEC that can be accessed through the SEC’s website. In other news, director Anthony James Conti sold 2,000 shares of the company’s stock in a transaction on Friday, March 3rd. The shares were sold at an average price of $143.61 for a total of $287,220.00. After the sale, the directors now directly own 26,078 shares of the company, valued at $3,745,061.58. The sale was disclosed in filings with the SEC that can be accessed through the SEC’s website. Director Thomas A. Amato also sold 780 shares of the company in a transaction on Tuesday, March 14th. The shares sold for an average of $137.54 for a total of $107,281.20. Following the closing of the sale, the directors now own 8,780 shares of the company, valued at $1,207,601.20. Please see here for the disclosure of this sale. Insiders say that in the past three months he has sold 18,160 shares of company stock worth $2,605,294. A corporate insider owns his 0.72% of the company’s shares.
AMETEK profile
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AMETEK, Inc is engaged in the manufacture of electronic and electromechanical devices. He operates in two segments, Electronic Equipment (EIG) and Electromechanical (EMG). The EIG segment designs and manufactures advanced equipment for the process, aerospace, power, and industrial markets.
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Want to know which other hedge funds hold AME? Visit HoldingsChannel.com to get the latest AMETEK, Inc. (NYSE: AME – Get Rating) 13F filings and insider trading.
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