AMETEK, Inc. $AME Stake Lessened by Kornitzer Capital Management Inc. KS

Kornitzer Capital Management Inc. KS lessened its holdings in shares of AMETEK, Inc. (NYSE:AME – Free Report) by 34.1% in the third quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 23,225 shares of the technology company’s stock after selling 12,030 shares during the quarter. Kornitzer Capital Management Inc. KS’s holdings in AMETEK were worth $5,754,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. BlackRock Inc. acquired a new position in AMETEK during the second quarter valued at approximately $4,725,928,000. Wellington Management Group LLP increased its position in shares of AMETEK by 7.0% in the second quarter. Wellington Management Group LLP now owns 2,994,077 shares of the technology company’s stock worth $724,387,000 after acquiring an additional 196,986 shares in the last quarter. Flossbach Von Storch SE acquired a new stake in shares of AMETEK in the second quarter worth $662,352,000. Bank of New York Mellon Corp acquired a new stake in shares of AMETEK in the second quarter worth $624,725,000. Finally, Dimensional Fund Advisors LP raised its stake in shares of AMETEK by 1.4% in the 1st quarter. Dimensional Fund Advisors LP now owns 2,075,229 shares of the technology company’s stock valued at $444,788,000 after acquiring an additional 29,001 shares during the period. Institutional investors and hedge funds own 87.43% of the company’s stock.

AMETEK Stock Down 0.1%

NYSE AME opened at $228.40 on Monday. The stock has a market cap of $52.38 billion, a PE ratio of 32.21, a P/E/G ratio of 2.04 and a beta of 0.96. AMETEK, Inc. has a fifty-two week low of $188.47 and a fifty-two week high of $261.16. The business has a 50 day moving average price of $242.89 and a two-hundred day moving average price of $234.62. The company has a quick ratio of 0.91, a current ratio of 1.43 and a debt-to-equity ratio of 0.52.

AMETEK (NYSE:AME – Get Free Report) last issued its quarterly earnings data on Tuesday, November 3rd. The technology company reported $2.21 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.11 by $0.10. The company had revenue of $2.22 billion during the quarter, compared to the consensus estimate of $2.12 billion. AMETEK had a net margin of 19.91% and a return on equity of 17.12%. AMETEK’s revenue for the quarter was up 17.3% on a year-over-year basis. During the same quarter last year, the company earned $1.89 earnings per share. As a group, sell-side analysts predict that AMETEK, Inc. will post 8.59 EPS for the current fiscal year.

AMETEK Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, December 18th. Investors of record on Friday, December 4th will be issued a dividend of $0.34 per share. This represents a $1.36 dividend on an annualized basis and a yield of 0.6%. The ex-dividend date of this dividend is Friday, December 4th. AMETEK’s dividend payout ratio (DPR) is presently 19.18%.

Analysts Set New Price Targets

Several equities analysts recently weighed in on AME shares. Zacks Research upgraded shares of AMETEK from a “hold” rating to a “strong-buy” rating in a report on Tuesday, October 6th. Deutsche Bank Aktiengesellschaft upped their price target on shares of AMETEK from $288.00 to $318.00 and gave the stock a “buy” rating in a research report on Wednesday, September 30th. KeyCorp increased their price target on AMETEK from $260.00 to $295.00 and gave the company an “overweight” rating in a report on Wednesday, August 5th. Seaport Research Partners raised their price objective on AMETEK from $290.00 to $300.00 and gave the company a “buy” rating in a research report on Wednesday, September 2nd. Finally, Morgan Stanley set a $275.00 price objective on AMETEK in a research note on Friday, October 9th. One equities research analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating and five have given a Hold rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $278.06.

Check Out Our Latest Report on AMETEK

Key AMETEK News

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AMETEK Company Profile

(Free Report)

AMETEK, Inc is a global manufacturer of electronic instruments and electromechanical products. Its businesses serve a range of markets, including aerospace, energy, industrial manufacturing, medical, and transportation.

The company’s products include analytical and process instruments, monitoring and measurement systems, aerospace components, precision motors and pumps, and engineered materials. AMETEK organizes its operations into two groups: Electronic Instruments and Electromechanical.

Founded in 1930, AMETEK serves customers around the world through manufacturing facilities, sales offices, and service operations in multiple countries.

See Also

Institutional Ownership by Quarter for AMETEK (NYSE:AME)

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