Renaissance Technologies LLC Invests $34.17 Million in AMETEK, Inc. (NYSE:AME)

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 stock traded up $0.91 during mid-day trading on Friday, reaching $90.73. The company had a trading volume of 20,862 shares, compared to its average volume of 1,051,397. AMETEK, Inc. has a fifty-two week low of $63.14 and a fifty-two week high of $92.30. The company has a current ratio of 2.17, a quick ratio of 1.53 and a debt-to-equity ratio of 0.51. The company has a market cap of $20.19 billion, a P/E ratio of 27.58, a P/E/G ratio of 2.26 and a beta of 1.21. The business has a fifty day simple moving average of $86.55 and a 200 day simple moving average of $85.46.

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.

Recommended Story: Technical Analysis of Stocks and What It Means

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).

Institutional Ownership by Quarter for AMETEK (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.