Employees Retirement System of Texas increased its position in shares of AMETEK, Inc. (NYSE:AME – Free Report) by 44.5% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 302,044 shares of the technology company’s stock after purchasing an additional 93,000 shares during the period. Employees Retirement System of Texas owned 0.13% of AMETEK worth $48,895,000 at the end of the most recent quarter.
Other large investors have also recently bought and sold shares of the company. Farmers & Merchants Investments Inc. increased its position in shares of AMETEK by 0.3% during the first quarter. Farmers & Merchants Investments Inc. now owns 44,579 shares of the technology company’s stock worth $6,479,000 after purchasing an additional 132 shares in the last quarter. Keybank National Association OH increased its position in AMETEK by 48.9% during the second quarter. Keybank National Association OH now owns 4,649 shares of the technology company’s stock worth $753,000 after buying an additional 1,527 shares during the period. Vestmark Advisory Solutions Inc. lifted its stake in AMETEK by 2.5% in the second quarter. Vestmark Advisory Solutions Inc. now owns 3,152 shares of the technology company’s stock valued at $510,000 after buying an additional 78 shares during the last quarter. Brown Advisory Inc. grew its position in shares of AMETEK by 24.6% during the first quarter. Brown Advisory Inc. now owns 37,052 shares of the technology company’s stock worth $5,385,000 after acquiring an additional 7,312 shares during the last quarter. Finally, Mitsubishi UFJ Kokusai Asset Management Co. Ltd. grew its holdings in shares of AMETEK by 10.4% during the first quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 178,535 shares of the technology company’s stock worth $25,946,000 after buying an additional 16,876 shares during the last quarter. Hedge funds and other institutional investors own 85.70% of the company’s stock.
In related news, Director Steven W. Kohlhagen sold 810 shares of the stock in a transaction dated Tuesday, November 14th. The stock was sold at an average price of $155.09, for a total transaction of $125,622.90. Following the transaction, the director now directly owns 29,454 shares in the company, valued at $4,568,020.86. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other AMETEK news, Director Steven W. Kohlhagen sold 810 shares of the stock in a transaction that occurred on Tuesday, November 14th. The shares were sold at an average price of $155.09, for a total transaction of $125,622.90. Following the transaction, the director now owns 29,454 shares of the company’s stock, valued at $4,568,020.86. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Director Steven W. Kohlhagen sold 1,645 shares of AMETEK stock in a transaction on Thursday, September 14th. The shares were sold at an average price of $152.74, for a total transaction of $251,257.30. Following the completion of the transaction, the director now owns 30,264 shares in the company, valued at approximately $4,622,523.36. The disclosure for this sale can be found here. Insiders sold a total of 36,385 shares of company stock valued at $5,815,520 over the last quarter. Company insiders own 0.72% of the company’s stock.
AMETEK Price Performance
AMETEK (NYSE:AME – Get Free Report) last posted its earnings results on Tuesday, October 31st. The technology company reported $1.64 earnings per share for the quarter, beating the consensus estimate of $1.58 by $0.06. AMETEK had a return on equity of 18.19% and a net margin of 19.68%. The company had revenue of $1.62 billion for the quarter, compared to analyst estimates of $1.66 billion. During the same quarter in the prior year, the company earned $1.45 earnings per share. AMETEK’s revenue was up 4.6% compared to the same quarter last year. Sell-side analysts expect that AMETEK, Inc. will post 6.33 EPS for the current year.
AMETEK Dividend Announcement
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 22nd. Stockholders of record on Friday, December 8th will be issued a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 0.65%. The ex-dividend date is Thursday, December 7th. AMETEK’s dividend payout ratio (DPR) is 18.12%.
Analyst Upgrades and Downgrades
Several equities research analysts have recently commented on AME shares. BNP Paribas initiated coverage on AMETEK in a research note on Thursday, October 5th. They set a “neutral” rating and a $159.00 price target for the company. StockNews.com initiated coverage on shares of AMETEK in a research note on Thursday, October 5th. They set a “buy” rating on the stock. Royal Bank of Canada raised their price objective on shares of AMETEK from $183.00 to $186.00 and gave the company an “outperform” rating in a research report on Wednesday, November 1st. Mizuho boosted their target price on AMETEK from $161.00 to $166.00 and gave the stock a “buy” rating in a research report on Wednesday, August 2nd. Finally, Seaport Res Ptn reissued a “buy” rating on shares of AMETEK in a report on Monday, August 7th. Two research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $173.75.
AMETEK, Inc manufactures and sells electronic instruments and electromechanical devices in North America, Europe, Asia, and South America. 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.Its EMG segment offers engineered electrical connectors and electronics packaging to protect sensitive devices and mission-critical electronics; precision motion control products for data storage, medical devices, business equipment, automation, and other applications; high-purity powdered metals, strips and foils, specialty clad metals, and metal matrix composites; motor-blower systems and heat exchangers for use in thermal management, military, commercial aircraft, and military ground vehicles; and motors for use in commercial appliances, fitness equipment, food and beverage machines, hydraulic pumps, and industrial blowers.
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