Nippon Life Global Investors Americas Inc. reduced its stake in AMETEK, Inc. (NYSE:AME) by 49.7% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 41,580 shares of the technology company’s stock after selling 41,130 shares during the period. Nippon Life Global Investors Americas Inc.’s holdings in AMETEK were worth $3,013,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors also recently made changes to their positions in the company. BlackRock Inc. grew its holdings in shares of AMETEK by 6.2% during the fourth quarter. BlackRock Inc. now owns 15,074,188 shares of the technology company’s stock worth $1,092,426,000 after buying an additional 886,625 shares during the last quarter. Boston Partners boosted its holdings in AMETEK by 21.7% in the 3rd quarter. Boston Partners now owns 5,233,468 shares of the technology company’s stock valued at $345,618,000 after purchasing an additional 932,008 shares in the last quarter. American Century Companies Inc. boosted its holdings in AMETEK by 42.5% in the 4th quarter. American Century Companies Inc. now owns 4,067,798 shares of the technology company’s stock valued at $294,793,000 after purchasing an additional 1,214,153 shares in the last quarter. Allianz Asset Management GmbH boosted its holdings in AMETEK by 28.2% in the 4th quarter. Allianz Asset Management GmbH now owns 3,095,683 shares of the technology company’s stock valued at $224,343,000 after purchasing an additional 681,646 shares in the last quarter. Finally, Westfield Capital Management Co. LP boosted its holdings in AMETEK by 9.4% in the 3rd quarter. Westfield Capital Management Co. LP now owns 2,843,212 shares of the technology company’s stock valued at $187,766,000 after purchasing an additional 244,892 shares in the last quarter. Institutional investors and hedge funds own 86.10% of the company’s stock.
AMETEK, Inc. (AME) traded down $0.21 on Wednesday, reaching $78.20. 766,439 shares of the company traded hands, compared to its average volume of 1,340,000. AMETEK, Inc. has a 52-week low of $52.42 and a 52-week high of $79.32. The firm has a market capitalization of $18,090.00, a price-to-earnings ratio of 30.79, a price-to-earnings-growth ratio of 2.24 and a beta of 1.27. The company has a current ratio of 1.70, a quick ratio of 1.22 and a debt-to-equity ratio of 0.46.
The firm also recently announced a quarterly dividend, which will be paid on Thursday, March 29th. Investors of record on Friday, March 16th will be issued a dividend of $0.14 per share. This represents a $0.56 dividend on an annualized basis and a yield of 0.72%. This is a boost from AMETEK’s previous quarterly dividend of $0.09. The ex-dividend date of this dividend is Thursday, March 15th. AMETEK’s dividend payout ratio (DPR) is presently 14.17%.
A number of research firms have recently issued reports on AME. ValuEngine upgraded shares of AMETEK from a “hold” rating to a “buy” rating in a research report on Thursday, March 1st. Morgan Stanley lifted their price objective on AMETEK from $67.00 to $76.00 and gave the stock an “overweight” rating in a research report on Wednesday, February 7th. Zacks Investment Research upgraded AMETEK from a “hold” rating to a “buy” rating and set a $87.00 price target for the company in a report on Monday, February 5th. BMO Capital Markets boosted their price objective on shares of AMETEK from $88.00 to $90.00 and gave the company an “outperform” rating in a research note on Friday, February 2nd. Finally, KeyCorp boosted their price objective on shares of AMETEK from $82.00 to $86.00 and gave the company an “overweight” rating in a research note on Friday, February 2nd. One research analyst has rated the stock with a hold rating and twelve have given a buy rating to the company. The company has a consensus rating of “Buy” and a consensus target price of $81.64.
In related news, VP William D. Eginton sold 16,368 shares of the company’s stock in a transaction that occurred on Monday, February 5th. The shares were sold at an average price of $77.00, for a total value of $1,260,336.00. Following the completion of the sale, the vice president now owns 59,054 shares in the company, valued at approximately $4,547,158. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider Ronald J. Oscher sold 14,976 shares of the stock in a transaction that occurred on Thursday, February 15th. The stock was sold at an average price of $75.13, for a total transaction of $1,125,146.88. Following the completion of the sale, the insider now owns 41,792 shares of the company’s stock, valued at approximately $3,139,832.96. The disclosure for this sale can be found here. Insiders have sold 74,604 shares of company stock valued at $5,742,548 over the last 90 days. 2.10% of the stock is currently owned by insiders.
AMETEK, Inc is a manufacturer of electronic instruments and electromechanical devices with operations in North America, Europe, Asia and South America. The Company operates through two segments: Electronic Instruments (EIG) and Electromechanical (EMG). EIG designs and manufactures instruments for the process, power and industrial and aerospace markets.
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