Renaissance Technologies LLC bought a new position in shares of AMETEK, Inc. (NYSE:AME) during the 2nd quarter, Holdings Channel.com reports. The fund bought 376,150 shares of the technology company’s stock, valued at approximately $34,169,000.
Several other institutional investors and hedge funds have also made changes to their positions in AME. Cornerstone Advisors Inc. boosted its position in shares of AMETEK by 55.2% during the 1st quarter. Cornerstone Advisors Inc. now owns 388 shares of the technology company’s stock worth $32,000 after acquiring an additional 138 shares in the last quarter. Berman Capital Advisors LLC boosted its position in shares of AMETEK by 51.3% during the 2nd quarter. Berman Capital Advisors LLC now owns 454 shares of the technology company’s stock worth $41,000 after acquiring an additional 154 shares in the last quarter. Ibex Wealth Advisors acquired a new stake in shares of AMETEK during the 2nd quarter worth approximately $52,000. Legacy Advisors LLC acquired a new stake in shares of AMETEK during the 2nd quarter worth approximately $55,000. Finally, SRS Capital Advisors Inc. acquired a new stake in shares of AMETEK during the 2nd quarter worth approximately $68,000. 86.10% of the stock is currently owned by institutional investors.
In other AMETEK news, Director Elizebeth R. Varet sold 2,000 shares of the firm’s stock in a transaction that occurred on Monday, June 17th. The shares were sold at an average price of $84.90, for a total value of $169,800.00. Following the sale, the director now owns 99,670 shares in the company, valued at $8,461,983. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, VP Thomas M. Montgomery sold 5,602 shares of the firm’s stock in a transaction that occurred on Thursday, June 27th. The shares were sold at an average price of $88.50, for a total transaction of $495,777.00. Following the completion of the sale, the vice president now owns 26,419 shares in the company, valued at approximately $2,338,081.50. The disclosure for this sale can be found here. Insiders sold 32,250 shares of company stock worth $2,797,956 in the last 90 days. Company insiders own 0.80% of the company’s stock.
AMETEK (NYSE:AME) last issued its earnings results on Tuesday, July 30th. The technology company reported $1.05 earnings per share for the quarter, beating analysts’ consensus estimates of $1.03 by $0.02. AMETEK had a net margin of 16.32% and a return on equity of 19.27%. The firm had revenue of $1.29 billion for the quarter, compared to analyst estimates of $1.32 billion. During the same quarter last year, the business posted $0.83 earnings per share. The company’s quarterly revenue was up 6.7% on a year-over-year basis. Research analysts forecast that AMETEK, Inc. will post 4.1 EPS for the current year.
The business also recently announced a quarterly dividend, which will be paid on Monday, September 30th. Shareholders of record on Monday, September 16th will be given a $0.14 dividend. The ex-dividend date is Friday, September 13th. This represents a $0.56 dividend on an annualized basis and a yield of 0.62%. AMETEK’s dividend payout ratio is currently 17.02%.
Several analysts recently issued reports on AME shares. Royal Bank of Canada set a $95.00 price target on shares of AMETEK and gave the stock a “buy” rating in a research report on Wednesday, July 31st. KeyCorp increased their price target on shares of AMETEK from $94.00 to $100.00 in a research report on Wednesday, July 31st. ValuEngine lowered shares of AMETEK from a “buy” rating to a “hold” rating in a research report on Thursday, August 1st. Morgan Stanley increased their price target on shares of AMETEK from $95.00 to $97.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 31st. Finally, Zacks Investment Research upgraded shares of AMETEK from a “hold” rating to a “buy” rating and set a $90.00 price target on the stock in a research report on Thursday, June 13th. One analyst has rated the stock with a hold rating and thirteen have given a buy rating to the company. The stock presently has a consensus rating of “Buy” and a consensus price target of $94.36.
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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