OFI Invest Asset Management purchased a new position in shares of AMETEK, Inc. (NYSE:AME – Free Report) in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor purchased 43,087 shares of the technology company’s stock, valued at approximately $8,846,000.
A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Vanguard Group Inc. lifted its position in shares of AMETEK by 0.7% in the third quarter. Vanguard Group Inc. now owns 27,173,705 shares of the technology company’s stock worth $5,108,657,000 after purchasing an additional 176,040 shares in the last quarter. State Street Corp boosted its holdings in AMETEK by 1.3% during the third quarter. State Street Corp now owns 9,763,684 shares of the technology company’s stock worth $1,835,573,000 after purchasing an additional 126,381 shares during the last quarter. Invesco Ltd. grew its position in AMETEK by 4.9% in the third quarter. Invesco Ltd. now owns 4,463,518 shares of the technology company’s stock valued at $839,141,000 after purchasing an additional 209,043 shares in the last quarter. EdgePoint Investment Group Inc. grew its position in AMETEK by 24.4% in the second quarter. EdgePoint Investment Group Inc. now owns 2,926,530 shares of the technology company’s stock valued at $529,585,000 after purchasing an additional 573,191 shares in the last quarter. Finally, Lazard Asset Management LLC grew its position in AMETEK by 35.7% in the third quarter. Lazard Asset Management LLC now owns 2,645,977 shares of the technology company’s stock valued at $497,444,000 after purchasing an additional 695,419 shares in the last quarter. 87.43% of the stock is currently owned by institutional investors and hedge funds.
AMETEK Stock Up 1.3%
NYSE:AME opened at $233.41 on Friday. The firm has a market capitalization of $53.47 billion, a price-to-earnings ratio of 36.47, a price-to-earnings-growth ratio of 3.31 and a beta of 1.04. AMETEK, Inc. has a twelve month low of $153.47 and a twelve month high of $242.05. The stock’s 50 day moving average price is $224.86 and its two-hundred day moving average price is $207.80. The company has a quick ratio of 0.67, a current ratio of 1.06 and a debt-to-equity ratio of 0.10.
AMETEK Increases Dividend
The business also recently declared a quarterly dividend, which was paid on Tuesday, March 31st. Shareholders of record on Monday, March 16th were given a dividend of $0.34 per share. This is a positive change from AMETEK’s previous quarterly dividend of $0.31. The ex-dividend date of this dividend was Monday, March 16th. This represents a $1.36 annualized dividend and a dividend yield of 0.6%. AMETEK’s payout ratio is presently 21.25%.
Analyst Ratings Changes
AME has been the subject of a number of analyst reports. Royal Bank Of Canada reaffirmed an “outperform” rating and issued a $257.00 target price on shares of AMETEK in a research report on Wednesday, February 4th. Mizuho set a $235.00 target price on shares of AMETEK in a research report on Wednesday, February 4th. BMO Capital Markets initiated coverage on shares of AMETEK in a research report on Friday, March 27th. They issued an “outperform” rating and a $253.00 target price for the company. Truist Financial set a $265.00 target price on shares of AMETEK in a research report on Wednesday, February 4th. Finally, Wall Street Zen raised shares of AMETEK from a “hold” rating to a “buy” rating in a research report on Sunday, February 22nd. One analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and four have issued a Hold rating to the stock. According to data from MarketBeat, AMETEK has a consensus rating of “Moderate Buy” and a consensus price target of $244.67.
Get Our Latest Stock Report on AME
Insider Buying and Selling at AMETEK
In other AMETEK news, Director Thomas A. Amato sold 530 shares of the business’s stock in a transaction that occurred on Tuesday, March 24th. The stock was sold at an average price of $216.78, for a total transaction of $114,893.40. Following the transaction, the director owned 4,480 shares of the company’s stock, valued at $971,174.40. The trade was a 10.58% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 0.54% of the stock is owned by company insiders.
AMETEK Profile
AMETEK, Inc is a global manufacturer of electronic instruments and electromechanical devices that serves a broad range of industries. Headquartered in Berwyn, Pennsylvania, the company designs and produces precision instruments, electronic measurement devices, specialty sensors, and electric motors and motion control systems. Its product portfolio includes analytical and monitoring instruments, calibration equipment, power supplies, embedded electronics, and industrial motors and drives used for critical applications.
The company operates through two primary business platforms — an electronic instruments group focused on analytical, test and measurement and sensor products, and an electromechanical group that supplies motors, actuators, and related power and motion solutions.
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