AMETEK, Inc. (NYSE:AME) Stake Increased by Xact Kapitalforvaltning AB

Xact Kapitalforvaltning AB grew its stake in AMETEK, Inc. (NYSE:AME) by 5.2% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 59,799 shares of the technology company’s stock after buying an additional 2,930 shares during the period. Xact Kapitalforvaltning AB’s holdings in AMETEK were worth $4,543,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. Teachers Advisors LLC raised its position in AMETEK by 0.4% in the 4th quarter. Teachers Advisors LLC now owns 496,251 shares of the technology company’s stock valued at $35,963,000 after purchasing an additional 2,120 shares during the last quarter. D.A. Davidson & CO. purchased a new stake in AMETEK in the 4th quarter valued at $210,000. Raymond James Financial Services Advisors Inc. raised its position in AMETEK by 8.9% in the 4th quarter. Raymond James Financial Services Advisors Inc. now owns 50,803 shares of the technology company’s stock valued at $3,682,000 after purchasing an additional 4,152 shares during the last quarter. Allianz Asset Management GmbH raised its position 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 during the last quarter. Finally, Champlain Investment Partners LLC raised its position in AMETEK by 1.0% in the 4th quarter. Champlain Investment Partners LLC now owns 1,519,600 shares of the technology company’s stock valued at $110,125,000 after purchasing an additional 15,750 shares during the last quarter. Institutional investors and hedge funds own 84.07% of the company’s stock.

A number of brokerages have commented on AME. ValuEngine upgraded shares of AMETEK from a “hold” rating to a “buy” rating in a research report on Thursday, March 1st. Zacks Investment Research downgraded shares of AMETEK from a “buy” rating to a “hold” rating in a research report on Tuesday, April 3rd. DA Davidson started coverage on shares of AMETEK in a research note on Thursday, April 12th. They set a “buy” rating and a $85.00 price target on the stock. BMO Capital Markets increased their price objective on shares of AMETEK from $90.00 to $92.00 and gave the company an “outperform” rating in a research note on Thursday, May 3rd. Finally, Morgan Stanley raised their price target on shares of AMETEK from $76.00 to $79.00 and gave the stock an “equal weight” rating in a research note on Thursday, May 3rd. Three analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and an average price target of $82.17.

In related news, Director Elizebeth R. Varet sold 2,000 shares of the firm’s stock in a transaction that occurred on Friday, June 8th. The shares were sold at an average price of $75.56, for a total value of $151,120.00. Following the transaction, the director now owns 113,810 shares in the company, valued at $8,599,483.60. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Company insiders own 2.10% of the company’s stock.

Shares of AMETEK opened at $72.14 on Friday, MarketBeat.com reports. The stock has a market cap of $16.56 billion, a PE ratio of 27.48, a P/E/G ratio of 2.29 and a beta of 1.26. AMETEK, Inc. has a 1-year low of $59.56 and a 1-year high of $79.32. The company has a debt-to-equity ratio of 0.45, a quick ratio of 1.18 and a current ratio of 1.69.

AMETEK (NYSE:AME) last posted its quarterly earnings results on Wednesday, May 2nd. The technology company reported $0.78 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.72 by $0.06. AMETEK had a net margin of 16.21% and a return on equity of 16.64%. The firm had revenue of $1.17 billion for the quarter, compared to analyst estimates of $1.12 billion. During the same quarter last year, the firm posted $0.61 earnings per share. AMETEK’s revenue for the quarter was up 16.4% compared to the same quarter last year. analysts forecast that AMETEK, Inc. will post 3.13 earnings per share for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Friday, June 29th. Investors of record on Friday, June 15th will be issued a $0.14 dividend. The ex-dividend date is Thursday, June 14th. This represents a $0.56 annualized dividend and a yield of 0.78%. AMETEK’s payout ratio is 21.46%.

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.

Institutional Ownership by Quarter for AMETEK (NYSE:AME)

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