Schwab Charles Investment Management Inc. increased its holdings in AMETEK, Inc. (NYSE:AME) by 4.2% in the first quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 857,533 shares of the technology company’s stock after purchasing an additional 34,437 shares during the quarter. Schwab Charles Investment Management Inc. owned 0.37% of AMETEK worth $65,147,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also added to or reduced their stakes in AME. National Pension Service raised its holdings in AMETEK by 0.9% in the 4th quarter. National Pension Service now owns 249,110 shares of the technology company’s stock worth $18,053,000 after purchasing an additional 2,344 shares during the period. Creative Planning raised its holdings in AMETEK by 18.5% in the 4th quarter. Creative Planning now owns 6,411 shares of the technology company’s stock worth $465,000 after purchasing an additional 999 shares during the period. State of Alaska Department of Revenue raised its holdings in AMETEK by 66.6% in the 4th quarter. State of Alaska Department of Revenue now owns 34,062 shares of the technology company’s stock worth $2,467,000 after purchasing an additional 13,620 shares during the period. Catawba Capital Management VA acquired a new position in AMETEK in the 4th quarter worth about $208,000. Finally, Bredin Investment LLC acquired a new position in AMETEK in the 4th quarter worth about $982,000. 86.00% of the stock is owned by institutional investors.
AME stock opened at $75.33 on Friday. The company has a quick ratio of 1.18, a current ratio of 1.69 and a debt-to-equity ratio of 0.45. The company has a market capitalization of $17.35 billion, a PE ratio of 28.86, a P/E/G ratio of 2.40 and a beta of 1.27. AMETEK, Inc. has a 1 year low of $74.09 and a 1 year high of $74.50.
The business also recently declared a quarterly dividend, which will be paid on Friday, June 29th. Stockholders of record on Friday, June 15th will be given a $0.14 dividend. The ex-dividend date is Thursday, June 14th. This represents a $0.56 dividend on an annualized basis and a dividend yield of 0.74%. AMETEK’s dividend payout ratio (DPR) is presently 21.46%.
AME has been the subject of several research reports. ValuEngine upgraded AMETEK from a “hold” rating to a “buy” rating in a research note on Thursday, March 1st. Stifel Nicolaus reiterated a “buy” rating and set a $92.00 price objective on shares of AMETEK in a research note on Thursday, February 1st. Zacks Investment Research upgraded AMETEK from a “hold” rating to a “buy” rating and set a $83.00 price objective for the company in a research note on Wednesday, April 11th. KeyCorp reiterated a “buy” rating and set a $82.00 price objective on shares of AMETEK in a research note on Friday, January 19th. Finally, Morgan Stanley boosted their price objective on AMETEK from $67.00 to $76.00 and gave the stock an “overweight” rating in a research note on Wednesday, February 7th. Two investment analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. AMETEK has a consensus rating of “Buy” and a consensus price target of $82.00.
In other news, Director Steven W. Kohlhagen sold 3,000 shares of the company’s stock in a transaction that occurred on Wednesday, February 21st. The stock was sold at an average price of $76.45, for a total value of $229,350.00. Following the completion of the sale, the director now directly owns 54,298 shares in the company, valued at $4,151,082.10. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Steven W. Kohlhagen sold 5,000 shares of the company’s stock in a transaction that occurred on Friday, March 9th. The shares were sold at an average price of $78.31, for a total value of $391,550.00. Following the completion of the sale, the director now owns 49,298 shares of the company’s stock, valued at $3,860,526.38. The disclosure for this sale can be found here. Insiders sold 36,965 shares of company stock valued at $2,893,243 over the last 90 days. Company insiders own 2.10% of the company’s stock.
AMETEK Company Profile
AMETEK, Inc manufactures and sells electronic instruments and electromechanical devices worldwide. Its Electronic Instruments Group segment offers advanced instruments for the process, power and industrial, and aerospace markets; process and analytical instruments for the oil, gas, petrochemical, pharmaceutical, semiconductor, automation, and food and beverage markets; and instruments for the laboratory equipment, ultraprecision manufacturing, medical, and test and measurement markets.
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