Mackenzie Financial Corp trimmed its position in shares of AMETEK, Inc. (NYSE:AME – Get Rating) by 91.2% during the 2nd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 16,231 shares of the technology company’s stock after selling 167,403 shares during the period. Mackenzie Financial Corp’s holdings in AMETEK were worth $1,784,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds have also recently added to or reduced their stakes in AME. Gryphon Financial Partners LLC purchased a new position in AMETEK during the 1st quarter worth approximately $25,000. J.W. Cole Advisors Inc. acquired a new stake in shares of AMETEK during the 1st quarter valued at $26,000. Quent Capital LLC boosted its stake in shares of AMETEK by 177.8% during the 1st quarter. Quent Capital LLC now owns 200 shares of the technology company’s stock valued at $27,000 after buying an additional 128 shares during the period. Covestor Ltd boosted its stake in shares of AMETEK by 84.3% during the 1st quarter. Covestor Ltd now owns 212 shares of the technology company’s stock valued at $28,000 after buying an additional 97 shares during the period. Finally, Prospera Financial Services Inc acquired a new stake in shares of AMETEK during the 1st quarter valued at $29,000. 85.46% of the stock is currently owned by hedge funds and other institutional investors.
Analyst Ratings Changes
AME has been the subject of a number of research reports. KeyCorp lifted their target price on shares of AMETEK from $145.00 to $165.00 and gave the company an “overweight” rating in a research note on Monday. Wells Fargo & Company decreased their target price on shares of AMETEK from $180.00 to $165.00 and set an “overweight” rating for the company in a research note on Monday, October 24th. DA Davidson lifted their target price on shares of AMETEK to $160.00 in a research note on Tuesday, August 9th. Morgan Stanley lifted their price objective on shares of AMETEK from $137.00 to $144.00 and gave the company an “overweight” rating in a research note on Wednesday, November 2nd. Finally, StockNews.com raised shares of AMETEK from a “hold” rating to a “buy” rating in a research note on Tuesday, November 15th. Two equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. According to data from MarketBeat.com, AMETEK currently has an average rating of “Moderate Buy” and a consensus target price of $149.80.
AMETEK Stock Up 0.8 %
AMETEK (NYSE:AME – Get Rating) last released its earnings results on Tuesday, November 1st. The technology company reported $1.45 earnings per share for the quarter, topping analysts’ consensus estimates of $1.37 by $0.08. The firm had revenue of $1.55 billion during the quarter, compared to analyst estimates of $1.51 billion. AMETEK had a net margin of 18.81% and a return on equity of 18.40%. The business’s revenue was up 7.7% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.26 EPS. Sell-side analysts anticipate that AMETEK, Inc. will post 5.63 EPS for the current fiscal year.
AMETEK Announces Dividend
The company also recently announced a quarterly dividend, which will be paid on Friday, December 23rd. Shareholders of record on Wednesday, December 7th will be given a dividend of $0.22 per share. This represents a $0.88 dividend on an annualized basis and a yield of 0.62%. The ex-dividend date of this dividend is Tuesday, December 6th. AMETEK’s dividend payout ratio is 18.00%.
Insiders Place Their Bets
In other AMETEK news, insider Thomas C. Marecic sold 2,318 shares of the business’s stock in a transaction on Monday, November 21st. The shares were sold at an average price of $141.01, for a total transaction of $326,861.18. Following the completion of the transaction, the insider now owns 31,622 shares of the company’s stock, valued at approximately $4,459,018.22. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other news, insider Thomas C. Marecic sold 2,318 shares of the company’s stock in a transaction dated Monday, November 21st. The shares were sold at an average price of $141.01, for a total transaction of $326,861.18. Following the completion of the transaction, the insider now owns 31,622 shares of the company’s stock, valued at $4,459,018.22. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Steven W. Kohlhagen sold 3,100 shares of the company’s stock in a transaction dated Thursday, September 8th. The shares were sold at an average price of $123.75, for a total transaction of $383,625.00. Following the transaction, the director now directly owns 42,864 shares of the company’s stock, valued at approximately $5,304,420. The disclosure for this sale can be found here. Company insiders own 0.72% of the company’s stock.
AMETEK, Inc manufactures and sells electronic instruments and electromechanical devices worldwide. It operates in two segments, Electronic Instruments (EIG) and Electromechanical (EMG). The company's EIG segment offers advanced instruments for the process, aerospace, power, and industrial markets; process and analytical 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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