Point72 Hong Kong Ltd Acquires New Position in AMETEK, Inc. (AME)

Point72 Hong Kong Ltd acquired a new position in shares of AMETEK, Inc. (NYSE:AME) during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor acquired 3,438 shares of the technology company’s stock, valued at approximately $272,000.

A number of other institutional investors have also recently modified their holdings of AME. Alps Advisors Inc. bought a new stake in AMETEK during the second quarter worth about $214,000. Nomura Asset Management Co. Ltd. grew its stake in AMETEK by 6.9% during the second quarter. Nomura Asset Management Co. Ltd. now owns 34,915 shares of the technology company’s stock worth $2,520,000 after buying an additional 2,252 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank grew its stake in AMETEK by 9.0% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 43,785 shares of the technology company’s stock worth $3,160,000 after buying an additional 3,612 shares during the last quarter. Toronto Dominion Bank grew its stake in AMETEK by 18.9% during the second quarter. Toronto Dominion Bank now owns 161,540 shares of the technology company’s stock worth $11,654,000 after buying an additional 25,670 shares during the last quarter. Finally, SG Americas Securities LLC grew its stake in AMETEK by 136.3% during the second quarter. SG Americas Securities LLC now owns 64,799 shares of the technology company’s stock worth $4,676,000 after buying an additional 37,373 shares during the last quarter. 84.51% of the stock is currently owned by hedge funds and other institutional investors.

In other AMETEK news, Director Thomas A. Amato acquired 2,000 shares of the business’s stock in a transaction that occurred on Monday, November 12th. The shares were acquired at an average cost of $73.14 per share, for a total transaction of $146,280.00. Following the completion of the acquisition, the director now directly owns 7,510 shares of the company’s stock, valued at approximately $549,281.40. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider John Wesley Hardin sold 29,955 shares of the stock in a transaction that occurred on Wednesday, September 19th. The shares were sold at an average price of $81.55, for a total transaction of $2,442,830.25. Following the completion of the transaction, the insider now owns 70,016 shares in the company, valued at $5,709,804.80. The disclosure for this sale can be found here. Corporate insiders own 2.00% of the company’s stock.

Several analysts have weighed in on AME shares. ValuEngine cut shares of AMETEK from a “buy” rating to a “hold” rating in a research note on Tuesday, October 23rd. BMO Capital Markets decreased their price objective on shares of AMETEK from $93.00 to $91.00 and set an “outperform” rating on the stock in a research note on Friday, November 2nd. Robert W. Baird upped their price objective on shares of AMETEK from $82.00 to $84.00 and gave the stock an “outperform” rating in a research note on Friday, November 2nd. Morgan Stanley reduced their target price on shares of AMETEK from $84.00 to $81.00 and set an “equal weight” rating on the stock in a research report on Monday, November 5th. Finally, Stephens began coverage on shares of AMETEK in a research report on Monday, November 19th. They set an “overweight” rating and a $87.00 target price on the stock. Two analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. The company presently has a consensus rating of “Buy” and a consensus price target of $87.46.

Shares of AME stock opened at $70.39 on Friday. AMETEK, Inc. has a 1 year low of $64.91 and a 1 year high of $81.92. The company has a market cap of $16.34 billion, a PE ratio of 26.97, a P/E/G ratio of 1.92 and a beta of 1.32. The company has a current ratio of 2.06, a quick ratio of 1.42 and a debt-to-equity ratio of 0.41.

AMETEK (NYSE:AME) last announced its earnings results on Thursday, November 1st. The technology company reported $0.82 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.78 by $0.04. AMETEK had a net margin of 17.06% and a return on equity of 17.08%. The company had revenue of $1.19 billion for the quarter, compared to analyst estimates of $1.18 billion. During the same period in the prior year, the business earned $0.66 earnings per share. AMETEK’s quarterly revenue was up 10.0% on a year-over-year basis. Research analysts predict that AMETEK, Inc. will post 3.27 EPS for the current year.

The business also recently announced a quarterly dividend, which will be paid on Friday, December 21st. Stockholders of record on Friday, December 7th will be given a dividend of $0.14 per share. The ex-dividend date of this dividend is Thursday, December 6th. This represents a $0.56 dividend on an annualized basis and a dividend yield of 0.80%. AMETEK’s payout ratio is 21.46%.

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AMETEK Company Profile

AMETEK, Inc manufactures and sells electronic instruments and electromechanical devices worldwide. Its Electronic Instruments Group segment offers advanced instruments for the process, power and industrial, and aerospace markets; process and analytical instruments for the oil, gas, petrochemical, pharmaceutical, semiconductor, automation, and food and beverage markets; and instruments for the laboratory equipment, ultraprecision manufacturing, medical, and test and measurement markets.

Recommended Story: What are Institutional Investors?

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Institutional Ownership by Quarter for AMETEK (NYSE:AME)

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