HM Payson & Co. lifted its stake in AMETEK, Inc. (NYSE:AME) by 2,143.6% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 126,676 shares of the technology company’s stock after acquiring an additional 121,030 shares during the quarter. HM Payson & Co. owned approximately 0.06% of AMETEK worth $12,635,000 as of its most recent filing with the Securities and Exchange Commission.
Several other hedge funds and other institutional investors also recently bought and sold shares of AME. Savior LLC acquired a new position in shares of AMETEK during the fourth quarter valued at about $28,000. Orion Portfolio Solutions LLC bought a new position in AMETEK during the fourth quarter worth $28,000. Aigen Investment Management LP acquired a new position in shares of AMETEK in the fourth quarter valued at $41,000. Price Capital Management Inc. acquired a new position in shares of AMETEK in the fourth quarter valued at $50,000. Finally, Rockefeller Capital Management L.P. raised its position in shares of AMETEK by 26.2% in the fourth quarter. Rockefeller Capital Management L.P. now owns 578 shares of the technology company’s stock valued at $58,000 after purchasing an additional 120 shares during the period. 86.71% of the stock is currently owned by institutional investors and hedge funds.
Shares of AME traded up $1.10 during mid-day trading on Thursday, reaching $72.10. The stock had a trading volume of 38,718 shares, compared to its average volume of 2,769,338. The firm has a market cap of $15.57 billion, a price-to-earnings ratio of 19.45, a PEG ratio of 1.83 and a beta of 1.19. AMETEK, Inc. has a 12 month low of $54.82 and a 12 month high of $102.31. The business has a fifty day moving average of $87.05 and a 200 day moving average of $93.26. The company has a debt-to-equity ratio of 0.44, a quick ratio of 0.98 and a current ratio of 1.42.
AMETEK (NYSE:AME) last announced its quarterly earnings data on Wednesday, February 5th. The technology company reported $1.08 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.03 by $0.05. AMETEK had a net margin of 16.70% and a return on equity of 20.14%. The firm had revenue of $1.30 billion for the quarter, compared to the consensus estimate of $1.34 billion. During the same period last year, the firm earned $0.86 EPS. The company’s revenue was up 2.6% on a year-over-year basis. On average, research analysts forecast that AMETEK, Inc. will post 4.2 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Tuesday, March 31st. Stockholders of record on Friday, March 13th will be paid a $0.18 dividend. The ex-dividend date is Thursday, March 12th. This represents a $0.72 dividend on an annualized basis and a dividend yield of 1.00%. This is a boost from AMETEK’s previous quarterly dividend of $0.14. AMETEK’s payout ratio is 17.18%.
In related news, Director Dennis K. Williams sold 5,190 shares of the company’s stock in a transaction dated Tuesday, February 18th. The stock was sold at an average price of $101.14, for a total value of $524,916.60. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Ruby R. Chandy sold 3,376 shares of the stock in a transaction dated Friday, December 27th. The shares were sold at an average price of $99.98, for a total value of $337,532.48. Following the completion of the transaction, the director now directly owns 16,920 shares in the company, valued at approximately $1,691,661.60. The disclosure for this sale can be found here. Insiders have sold 10,566 shares of company stock worth $1,053,489 in the last 90 days. Company insiders own 0.80% of the company’s stock.
Several analysts recently commented on AME shares. Langenberg & Company downgraded shares of AMETEK to a “hold” rating and set a $100.00 target price for the company. in a report on Monday, February 10th. Cowen raised shares of AMETEK from a “market perform” rating to an “outperform” rating and lowered their price target for the company from $100.00 to $95.00 in a report on Thursday, March 12th. Morgan Stanley cut their price objective on shares of AMETEK from $107.00 to $78.00 and set an “overweight” rating for the company in a research report on Tuesday, March 17th. Rosenblatt Securities restated a “buy” rating and set a $114.00 price objective on shares of AMETEK in a report on Friday, January 31st. Finally, Wolfe Research cut AMETEK from an “outperform” rating to a “peer perform” rating in a report on Thursday, January 9th. Four investment analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company’s stock. AMETEK presently has a consensus rating of “Buy” and an average target price of $100.71.
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.
Further Reading: Green Investing
Want to see what other hedge funds are holding AME? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for AMETEK, Inc. (NYSE:AME).
Receive News & Ratings for AMETEK Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for AMETEK and related companies with MarketBeat.com's FREE daily email newsletter.