Raymond James & Associates lessened its stake in shares of AMETEK, Inc. (NYSE:AME) by 3.4% during the first quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 208,097 shares of the technology company’s stock after selling 7,396 shares during the period. Raymond James & Associates owned 0.09% of AMETEK worth $17,266,000 at the end of the most recent reporting period.
Several other institutional investors also recently added to or reduced their stakes in the stock. Raymond James Financial Services Advisors Inc. raised its stake in AMETEK by 16.0% in the first quarter. Raymond James Financial Services Advisors Inc. now owns 84,477 shares of the technology company’s stock valued at $7,009,000 after purchasing an additional 11,661 shares in the last quarter. Penn Capital Management Co. Inc. purchased a new position in AMETEK during the first quarter valued at $1,012,000. Brasada Capital Management LP raised its position in shares of AMETEK by 66.7% in the 1st quarter. Brasada Capital Management LP now owns 5,000 shares of the technology company’s stock worth $415,000 after purchasing an additional 2,000 shares during the last quarter. Wakefield Asset Management LLLP purchased a new position in shares of AMETEK in the 1st quarter worth about $3,683,000. Finally, Mn Services Vermogensbeheer B.V. raised its position in shares of AMETEK by 1.5% in the 1st quarter. Mn Services Vermogensbeheer B.V. now owns 39,907 shares of the technology company’s stock worth $3,311,000 after purchasing an additional 600 shares during the last quarter. Institutional investors own 85.92% of the company’s stock.
Several equities analysts have recently issued reports on AME shares. Zacks Investment Research raised AMETEK from a “hold” rating to a “buy” rating and set a $90.00 price target for the company in a research report on Thursday. Berenberg Bank assumed coverage on AMETEK in a research report on Wednesday, May 15th. They issued a “buy” rating and a $100.00 target price for the company. Morgan Stanley set a $95.00 target price on AMETEK and gave the stock a “buy” rating in a research report on Friday, May 3rd. Vertical Research reissued a “buy” rating on shares of AMETEK in a research report on Friday, May 3rd. Finally, DA Davidson boosted their target price on AMETEK to $101.00 and gave the stock a “buy” rating in a research report on Thursday, May 2nd. Fifteen analysts have rated the stock with a buy rating, The company currently has a consensus rating of “Buy” and a consensus target price of $91.50.
AMETEK (NYSE:AME) last issued its quarterly earnings data on Wednesday, May 1st. The technology company reported $1.00 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.97 by $0.03. The business had revenue of $1.29 billion for the quarter, compared to analysts’ expectations of $1.28 billion. AMETEK had a return on equity of 18.56% and a net margin of 16.14%. The company’s revenue for the quarter was up 9.8% on a year-over-year basis. During the same period in the prior year, the firm earned $0.79 EPS. Sell-side analysts anticipate that AMETEK, Inc. will post 4.08 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Friday, June 28th. Investors of record on Friday, June 14th will be issued a dividend of $0.14 per share. The ex-dividend date of this dividend is Thursday, June 13th. This represents a $0.56 annualized dividend and a yield of 0.66%. AMETEK’s payout ratio is presently 17.02%.
In other AMETEK news, insider Timothy N. Jones sold 5,000 shares of the company’s stock in a transaction on Thursday, March 28th. The stock was sold at an average price of $82.20, for a total value of $411,000.00. Following the transaction, the insider now owns 37,177 shares of the company’s stock, valued at approximately $3,055,949.40. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Dennis K. Williams sold 1,570 shares of the company’s stock in a transaction on Thursday, May 2nd. The shares were sold at an average price of $87.00, for a total value of $136,590.00. The disclosure for this sale can be found here. Insiders have sold a total of 73,614 shares of company stock worth $6,314,246 in the last 90 days. 0.80% of the stock is currently owned by insiders.
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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