South Dakota Investment Council decreased its holdings in AMETEK, Inc. (NYSE:AME) by 66.7% in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 800 shares of the technology company’s stock after selling 1,600 shares during the quarter. South Dakota Investment Council’s holdings in AMETEK were worth $73,000 at the end of the most recent reporting period.
A number of other institutional investors have also modified their holdings of AME. Dimensional Fund Advisors LP raised its stake in AMETEK by 3.8% in the 4th quarter. Dimensional Fund Advisors LP now owns 1,077,657 shares of the technology company’s stock worth $72,955,000 after purchasing an additional 39,003 shares in the last quarter. Geode Capital Management LLC increased its holdings in AMETEK by 5.8% in the 4th quarter. Geode Capital Management LLC now owns 2,966,822 shares of the technology company’s stock valued at $200,498,000 after buying an additional 162,203 shares during the period. Cornerstone Advisors Inc. increased its holdings in AMETEK by 55.2% in the 1st quarter. Cornerstone Advisors Inc. now owns 388 shares of the technology company’s stock valued at $32,000 after buying an additional 138 shares during the period. Stephens Inc. AR increased its holdings in AMETEK by 121.5% in the 1st quarter. Stephens Inc. AR now owns 15,589 shares of the technology company’s stock valued at $1,293,000 after buying an additional 8,550 shares during the period. Finally, First Allied Advisory Services Inc. increased its holdings in AMETEK by 65.7% in the 1st quarter. First Allied Advisory Services Inc. now owns 5,014 shares of the technology company’s stock valued at $412,000 after buying an additional 1,988 shares during the period. Institutional investors and hedge funds own 86.10% of the company’s stock.
Shares of AMETEK stock traded up $1.14 during midday trading on Friday, hitting $90.96. 29,013 shares of the company traded hands, compared to its average volume of 1,051,397. The stock has a market cap of $20.19 billion, a price-to-earnings ratio of 27.66, a PEG ratio of 2.26 and a beta of 1.21. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.53 and a current ratio of 2.17. The firm’s fifty day moving average price is $86.55 and its 200-day moving average price is $85.46. AMETEK, Inc. has a 12 month low of $63.14 and a 12 month high of $92.30.
The business also recently declared a quarterly dividend, which will be paid on Monday, September 30th. Investors of record on Monday, September 16th will be issued a dividend of $0.14 per share. This represents a $0.56 annualized dividend and a dividend yield of 0.62%. The ex-dividend date is Friday, September 13th. AMETEK’s dividend payout ratio (DPR) is presently 17.02%.
In related news, Director Anthony James Conti sold 1,570 shares of AMETEK stock in a transaction that occurred on Thursday, June 20th. The shares were sold at an average price of $87.79, for a total transaction of $137,830.30. Following the sale, the director now directly owns 17,198 shares in the company, valued at approximately $1,509,812.42. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Elizebeth R. Varet sold 2,000 shares of AMETEK stock in a transaction that occurred on Monday, June 17th. The stock was sold at an average price of $84.90, for a total transaction of $169,800.00. Following the sale, the director now owns 99,670 shares in the company, valued at $8,461,983. The disclosure for this sale can be found here. Insiders have sold a total of 32,250 shares of company stock worth $2,797,956 over the last ninety days. 0.80% of the stock is currently owned by insiders.
Several equities analysts have commented on AME shares. Royal Bank of Canada set a $95.00 target price on shares of AMETEK and gave the company a “buy” rating in a report on Wednesday, July 31st. Oppenheimer raised their target price on shares of AMETEK from $94.00 to $100.00 and gave the company an “outperform” rating in a report on Wednesday, July 31st. Zacks Investment Research raised shares of AMETEK from a “hold” rating to a “buy” rating and set a $90.00 target price on the stock in a report on Thursday, June 13th. KeyCorp raised their target price on shares of AMETEK from $94.00 to $100.00 in a report on Wednesday, July 31st. Finally, ValuEngine lowered shares of AMETEK from a “buy” rating to a “hold” rating in a report on Thursday, August 1st. One investment analyst has rated the stock with a hold rating and thirteen have given a buy rating to the company. AMETEK presently has an average rating of “Buy” and a consensus price target of $94.36.
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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