AMETEK, Inc. $AME Stock: Jefferies Financial Group Inc. Reduces Position

Jefferies Financial Group Inc. cut its stake in shares of AMETEK, Inc. (NYSE:AME) by 3.4% during the 3rd quarter, HoldingsChannel.com reports. The fund owned 121,211 shares of the technology company’s stock after selling 4,301 shares during the period. Jefferies Financial Group Inc.’s holdings in AMETEK were worth $30,028,000 as of its most recent SEC filing.

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

Wall Street Analyst Weigh In

AME has been the subject of a number of recent analyst reports. TD Cowen reaffirmed a “buy” rating on shares of AMETEK in a report on Thursday, August 6th. Weiss Ratings lowered shares of AMETEK from a “buy (b+)” rating to a “buy (b)” rating in a report on Monday, November 2nd. KeyCorp raised their target price on AMETEK from $260.00 to $295.00 and gave the company an “overweight” rating in a research note on Wednesday, August 5th. BMO Capital Markets lifted their target price on AMETEK from $262.00 to $282.00 in a research report on Wednesday, August 5th. Finally, Truist Financial lifted their target price on AMETEK from $303.00 to $316.00 and gave the stock a “buy” rating in a research report on Thursday, August 6th. One analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and five have issued a Hold rating to the company. According to MarketBeat.com, AMETEK has an average rating of “Moderate Buy” and an average target price of $278.06.

AMETEK Stock Performance

AMETEK stock opened at $239.66 on Thursday. AMETEK, Inc. has a 52 week low of $188.47 and a 52 week high of $261.16. The company has a current ratio of 1.43, a quick ratio of 0.91 and a debt-to-equity ratio of 0.52. The stock has a market cap of $54.96 billion, a P/E ratio of 33.80, a price-to-earnings-growth ratio of 2.13 and a beta of 0.96. The stock has a 50 day moving average of $243.17 and a 200-day moving average of $234.88.

AMETEK (NYSE:AME) last issued its quarterly earnings results on Tuesday, November 3rd. The technology company reported $2.21 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.11 by $0.10. The business had revenue of $2.22 billion during the quarter, compared to analyst estimates of $2.12 billion. AMETEK had a net margin of 19.91% and a return on equity of 17.12%. The business’s revenue was up 17.3% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.89 earnings per share. On average, analysts expect that AMETEK, Inc. will post 8.58 EPS for the current fiscal year.

AMETEK Dividend Announcement

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

AMETEK Profile

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.