Geode Capital Management LLC Purchases 197,644 Shares of AMETEK, Inc. (NYSE:AME)

Geode Capital Management LLC lifted its position in shares of AMETEK, Inc. (NYSE:AMEGet Rating) by 4.7% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 4,379,126 shares of the technology company’s stock after acquiring an additional 197,644 shares during the period. Geode Capital Management LLC owned approximately 1.89% of AMETEK worth $642,259,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also recently made changes to their positions in the stock. Worldquant Millennium Advisors LLC grew its position in AMETEK by 1,197.9% in the 3rd quarter. Worldquant Millennium Advisors LLC now owns 32,280 shares of the technology company’s stock worth $4,003,000 after purchasing an additional 29,793 shares during the period. BOKF NA bought a new stake in AMETEK in the 3rd quarter worth approximately $670,000. Manchester Capital Management LLC grew its position in AMETEK by 10.4% in the 3rd quarter. Manchester Capital Management LLC now owns 12,901 shares of the technology company’s stock worth $1,600,000 after purchasing an additional 1,220 shares during the period. Mirae Asset Global Investments Co. Ltd. grew its position in AMETEK by 23.9% in the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 17,409 shares of the technology company’s stock worth $2,560,000 after purchasing an additional 3,356 shares during the period. Finally, Fuller & Thaler Asset Management Inc. grew its position in AMETEK by 7.0% in the 4th quarter. Fuller & Thaler Asset Management Inc. now owns 18,365 shares of the technology company’s stock worth $2,700,000 after purchasing an additional 1,200 shares during the period. 86.72% of the stock is owned by institutional investors.

AME has been the topic of several analyst reports. KeyCorp dropped their price target on shares of AMETEK from $155.00 to $145.00 in a research note on Wednesday, May 4th. Robert W. Baird dropped their price target on shares of AMETEK from $156.00 to $140.00 and set a “neutral” rating on the stock in a research note on Tuesday, May 10th. Zacks Investment Research upgraded shares of AMETEK from a “sell” rating to a “hold” rating and set a $134.00 price target on the stock in a research note on Tuesday, April 19th. Finally, StockNews.com initiated coverage on shares of AMETEK in a research note on Thursday, March 31st. They set a “hold” rating on the stock. Three equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Buy” and an average target price of $147.60.

Shares of AME stock opened at $117.36 on Monday. The stock has a market cap of $27.10 billion, a P/E ratio of 26.20, a PEG ratio of 2.29 and a beta of 1.26. AMETEK, Inc. has a 52 week low of $114.37 and a 52 week high of $148.07. The company has a quick ratio of 0.88, a current ratio of 1.43 and a debt-to-equity ratio of 0.32. The company’s fifty day simple moving average is $128.20 and its two-hundred day simple moving average is $134.34.

AMETEK (NYSE:AMEGet Rating) last announced its quarterly earnings results on Tuesday, May 3rd. The technology company reported $1.33 EPS for the quarter, topping the consensus estimate of $1.27 by $0.06. The business had revenue of $1.46 billion for the quarter, compared to analysts’ expectations of $1.46 billion. AMETEK had a net margin of 18.02% and a return on equity of 17.82%. The business’s quarterly revenue was up 20.0% compared to the same quarter last year. During the same quarter in the previous year, the company earned $1.07 EPS. On average, analysts anticipate that AMETEK, Inc. will post 5.43 EPS for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Thursday, June 30th. Stockholders of record on Friday, June 10th will be issued a $0.22 dividend. The ex-dividend date of this dividend is Thursday, June 9th. This represents a $0.88 dividend on an annualized basis and a dividend yield of 0.75%. AMETEK’s dividend payout ratio (DPR) is presently 19.64%.

AMETEK announced that its board has initiated a stock repurchase plan on Friday, May 6th that authorizes the company to repurchase $1.00 billion in shares. This repurchase authorization authorizes the technology company to repurchase up to 3.6% of its shares through open market purchases. Shares repurchase plans are often an indication that the company’s board of directors believes its shares are undervalued.

In related news, Director Anthony James Conti sold 5,160 shares of the company’s stock in a transaction dated Friday, March 25th. The shares were sold at an average price of $133.37, for a total transaction of $688,189.20. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director Thomas A. Amato sold 615 shares of the company’s stock in a transaction dated Monday, March 28th. The shares were sold at an average price of $133.03, for a total transaction of $81,813.45. The disclosure for this sale can be found here. Insiders own 0.72% of the company’s stock.

AMETEK Company Profile (Get Rating)

AMETEK, Inc manufactures and sells electronic instruments and electromechanical devices worldwide. It operates in two segments, Electronic Instruments (EIG) and Electromechanical (EMG). The company's EIG segment offers advanced instruments for the process, aerospace, power, and industrial markets; process and analytical 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.

Featured Stories

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.