Northpointe Capital LLC purchased a new position in shares of AMETEK, Inc. (NYSE:AME) in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 50,124 shares of the technology company’s stock, valued at approximately $4,159,000. AMETEK makes up 1.3% of Northpointe Capital LLC’s holdings, making the stock its 29th largest holding.
Several other large investors also recently made changes to their positions in the company. Oregon Public Employees Retirement Fund raised its position in shares of AMETEK by 6,587.0% during the 4th quarter. Oregon Public Employees Retirement Fund now owns 1,702,384 shares of the technology company’s stock valued at $25,000 after buying an additional 1,676,926 shares in the last quarter. IFP Advisors Inc increased its position in shares of AMETEK by 76.4% in the fourth quarter. IFP Advisors Inc now owns 441 shares of the technology company’s stock valued at $29,000 after acquiring an additional 191 shares during the period. Laurel Wealth Advisors LLC purchased a new position in shares of AMETEK in the fourth quarter valued at about $32,000. SRS Capital Advisors Inc. increased its position in shares of AMETEK by 183.7% in the fourth quarter. SRS Capital Advisors Inc. now owns 749 shares of the technology company’s stock valued at $51,000 after acquiring an additional 485 shares during the period. Finally, Financial Gravity Companies Inc. purchased a new position in shares of AMETEK in the fourth quarter valued at about $65,000. Institutional investors own 85.88% of the company’s stock.
In other AMETEK news, CEO David A. Zapico sold 31,200 shares of AMETEK stock in a transaction dated Tuesday, February 19th. The stock was sold at an average price of $78.80, for a total value of $2,458,560.00. Following the sale, the chief executive officer now owns 223,085 shares of the company’s stock, valued at approximately $17,579,098. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Thomas C. Marecic sold 17,097 shares of AMETEK stock in a transaction dated Wednesday, February 13th. The shares were sold at an average price of $79.00, for a total value of $1,350,663.00. Following the completion of the sale, the insider now directly owns 42,319 shares in the company, valued at approximately $3,343,201. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 111,563 shares of company stock valued at $8,880,480. 0.80% of the stock is owned by corporate insiders.
AME has been the topic of a number of research reports. Morgan Stanley raised shares of AMETEK from an “equal weight” rating to an “overweight” rating and lifted their target price for the company from $81.00 to $85.00 in a research note on Tuesday, December 18th. Royal Bank of Canada reiterated a “buy” rating and issued a $82.00 price target on shares of AMETEK in a research report on Wednesday, December 19th. Zacks Investment Research lowered shares of AMETEK from a “buy” rating to a “hold” rating in a research report on Thursday, January 3rd. Stephens reiterated a “buy” rating and issued a $79.00 price target on shares of AMETEK in a research report on Sunday, January 6th. Finally, Wolfe Research upgraded shares of AMETEK from a “market perform” rating to an “outperform” rating in a research report on Tuesday, January 8th. Twelve equities research analysts have rated the stock with a buy rating, AMETEK has an average rating of “Buy” and a consensus target price of $86.80.
Shares of NYSE:AME traded down $0.17 during midday trading on Wednesday, reaching $85.74. 128,101 shares of the company were exchanged, compared to its average volume of 996,469. The company has a debt-to-equity ratio of 0.54, a quick ratio of 0.96 and a current ratio of 1.46. AMETEK, Inc. has a one year low of $63.14 and a one year high of $86.25. The firm has a market cap of $19.48 billion, a price-to-earnings ratio of 26.06, a P/E/G ratio of 2.21 and a beta of 1.21.
AMETEK (NYSE:AME) last issued its earnings results on Tuesday, February 5th. The technology company reported $0.86 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.84 by $0.02. AMETEK had a net margin of 16.05% and a return on equity of 17.72%. The firm had revenue of $1.27 billion during the quarter, compared to analyst estimates of $1.26 billion. During the same quarter in the prior year, the business earned $0.70 earnings per share. AMETEK’s revenue for the quarter was up 11.1% on a year-over-year basis. As a group, research analysts predict that AMETEK, Inc. will post 4.04 earnings per share for the current year.
AMETEK announced that its board has initiated a stock buyback plan on Wednesday, February 13th that permits the company to repurchase $500.00 million in outstanding shares. This repurchase authorization permits the technology company to reacquire up to 2.8% of its shares through open market purchases. Shares repurchase plans are often a sign that the company’s board of directors believes its stock is undervalued.
The firm also recently announced a quarterly dividend, which was paid on Friday, March 29th. Investors of record on Friday, March 15th were paid a dividend of $0.14 per share. The ex-dividend date was Thursday, March 14th. This represents a $0.56 annualized dividend and a yield of 0.65%. AMETEK’s payout ratio is 17.02%.
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AMETEK Company Profile
AMETEK, Inc manufactures and sells electronic instruments and electromechanical devices worldwide. The company's Electronic Instruments segment offers advanced instruments for the process, aerospace, power, and industrial markets; process control instruments for the oil and gas, petrochemical, pharmaceutical, semiconductor, automation, and food and beverage industries; and instruments to the laboratory equipment, ultra-precision manufacturing, medical, and test and measurement markets.
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