BlackRock Inc. boosted its stake in AMETEK, Inc. (NYSE:AME) by 1.3% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 15,418,675 shares of the technology company’s stock after acquiring an additional 204,374 shares during the period. BlackRock Inc. owned 6.75% of AMETEK worth $1,400,633,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds also recently bought and sold shares of the stock. Marvin & Palmer Associates Inc. raised its holdings in AMETEK by 43.5% in the second quarter. Marvin & Palmer Associates Inc. now owns 62,927 shares of the technology company’s stock valued at $5,716,000 after acquiring an additional 19,067 shares in the last quarter. Kayne Anderson Rudnick Investment Management LLC raised its holdings in shares of AMETEK by 14.1% during the second quarter. Kayne Anderson Rudnick Investment Management LLC now owns 346,619 shares of the technology company’s stock worth $31,487,000 after purchasing an additional 42,732 shares during the period. Magnetar Financial LLC acquired a new stake in shares of AMETEK during the second quarter worth $238,000. Royal Bank of Canada raised its holdings in shares of AMETEK by 1.6% during the second quarter. Royal Bank of Canada now owns 277,684 shares of the technology company’s stock worth $25,226,000 after purchasing an additional 4,406 shares during the period. Finally, UBS Group AG raised its holdings in shares of AMETEK by 417.2% during the second quarter. UBS Group AG now owns 681,116 shares of the technology company’s stock worth $61,872,000 after purchasing an additional 549,417 shares during the period. 86.51% of the stock is currently owned by hedge funds and other institutional investors.
A number of analysts have weighed in on AME shares. ValuEngine raised shares of AMETEK from a “sell” rating to a “hold” rating in a report on Friday, November 1st. Royal Bank of Canada set a $95.00 target price on shares of AMETEK and gave the stock a “buy” rating in a report on Wednesday, July 31st. Wolfe Research set a $100.00 target price on shares of AMETEK and gave the stock a “buy” rating in a report on Friday, November 1st. KeyCorp increased their target price on shares of AMETEK from $94.00 to $100.00 in a report on Wednesday, July 31st. Finally, Morgan Stanley set a $102.00 target price on shares of AMETEK and gave the stock a “buy” rating in a report on Friday, November 1st. Two research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. AMETEK currently has a consensus rating of “Buy” and a consensus target price of $96.17.
AMETEK stock opened at $96.37 on Thursday. The company has a 50-day simple moving average of $89.96 and a 200-day simple moving average of $87.73. The firm has a market capitalization of $21.86 billion, a P/E ratio of 24.09, a P/E/G ratio of 2.12 and a beta of 1.20. The company has a debt-to-equity ratio of 0.46, a quick ratio of 1.48 and a current ratio of 2.05. AMETEK, Inc. has a one year low of $63.14 and a one year high of $96.87.
AMETEK (NYSE:AME) last released its quarterly earnings results on Thursday, October 31st. The technology company reported $1.06 EPS for the quarter, topping the consensus estimate of $1.01 by $0.05. The business had revenue of $1.28 billion during the quarter, compared to analyst estimates of $1.28 billion. AMETEK had a net margin of 16.63% and a return on equity of 20.04%. The company’s quarterly revenue was up 7.0% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.91 earnings per share. As a group, sell-side analysts forecast that AMETEK, Inc. will post 4.14 earnings per share for the current year.
In other news, Director Elizebeth R. Varet sold 3,000 shares of the company’s stock in a transaction dated Tuesday, November 5th. The shares were sold at an average price of $96.20, for a total transaction of $288,600.00. Following the completion of the transaction, the director now owns 90,670 shares in the company, valued at $8,722,454. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Elizebeth R. Varet sold 4,000 shares of the company’s stock in a transaction dated Thursday, August 29th. The stock was sold at an average price of $85.69, for a total transaction of $342,760.00. Following the transaction, the director now owns 95,670 shares of the company’s stock, valued at approximately $8,197,962.30. The disclosure for this sale can be found here. Insiders have sold 20,990 shares of company stock valued at $1,960,690 in the last 90 days. Insiders own 0.80% of the company’s stock.
AMETEK Company Profile
AMETEK, Inc manufactures and sells electronic instruments and electromechanical devices worldwide. The company's Electronic Instruments segment offers advanced instruments for the process, aerospace, power, and industrial markets; process control instruments for the oil and gas, petrochemical, pharmaceutical, semiconductor, automation, and food and beverage industries; and instruments to the laboratory equipment, ultra-precision manufacturing, medical, and test and measurement markets.
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