Orion Portfolio Solutions LLC raised its stake in AMETEK, Inc. (NYSE:AME – Get Rating) by 29.9% in the 2nd quarter, HoldingsChannel reports. The firm owned 4,988 shares of the technology company's stock after acquiring an additional 1,148 shares during the quarter. Orion Portfolio Solutions LLC's holdings in AMETEK were worth $548,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Gryphon Financial Partners LLC bought a new stake in AMETEK in the first quarter valued at $25,000. Quent Capital LLC increased its stake in AMETEK by 177.8% in the first quarter. Quent Capital LLC now owns 200 shares of the technology company's stock valued at $27,000 after purchasing an additional 128 shares in the last quarter. Covestor Ltd grew its holdings in shares of AMETEK by 84.3% during the first quarter. Covestor Ltd now owns 212 shares of the technology company's stock valued at $28,000 after buying an additional 97 shares during the last quarter. Prospera Financial Services Inc acquired a new position in shares of AMETEK during the first quarter valued at about $29,000. Finally, Intelligent Financial Strategies acquired a new position in shares of AMETEK during the fourth quarter valued at about $35,000. 85.46% of the stock is owned by institutional investors.
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Insider Buying and Selling at AMETEK
In other AMETEK news, Director Steven W. Kohlhagen sold 3,000 shares of the business's stock in a transaction dated Wednesday, August 10th. The shares were sold at an average price of $126.81, for a total value of $380,430.00. Following the transaction, the director now directly owns 45,964 shares in the company, valued at $5,828,694.84. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In other news, Director Steven W. Kohlhagen sold 3,100 shares of the business's stock in a transaction that occurred on Thursday, September 8th. The shares were sold at an average price of $123.75, for a total value of $383,625.00. Following the sale, the director now owns 42,864 shares of the company's stock, valued at $5,304,420. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Director Steven W. Kohlhagen sold 3,000 shares of the business's stock in a transaction that occurred on Wednesday, August 10th. The shares were sold at an average price of $126.81, for a total transaction of $380,430.00. Following the completion of the sale, the director now directly owns 45,964 shares in the company, valued at approximately $5,828,694.84. The disclosure for this sale can be found here. Corporate insiders own 0.72% of the company's stock.
AMETEK Stock Down 0.9 %
AMETEK stock opened at $114.43 on Friday. AMETEK, Inc. has a fifty-two week low of $106.17 and a fifty-two week high of $148.07. The stock has a market cap of $26.27 billion, a PE ratio of 24.35, a price-to-earnings-growth ratio of 2.24 and a beta of 1.26. The firm's 50-day simple moving average is $122.17 and its 200 day simple moving average is $122.22. The company has a debt-to-equity ratio of 0.31, a quick ratio of 0.88 and a current ratio of 1.48.
AMETEK (NYSE:AME – Get Rating) last released its earnings results on Tuesday, August 2nd. The technology company reported $1.38 earnings per share for the quarter, beating analysts' consensus estimates of $1.29 by $0.09. The firm had revenue of $1.51 billion for the quarter, compared to analysts' expectations of $1.46 billion. AMETEK had a net margin of 18.49% and a return on equity of 18.20%. The company's quarterly revenue was up 9.2% on a year-over-year basis. During the same period in the previous year, the company earned $1.15 earnings per share. Research analysts predict that AMETEK, Inc. will post 5.52 EPS for the current fiscal year.
AMETEK Dividend Announcement
The business also recently announced a quarterly dividend, which will be paid on Friday, September 30th. Shareholders of record on Wednesday, September 14th will be paid a $0.22 dividend. This represents a $0.88 dividend on an annualized basis and a yield of 0.77%. The ex-dividend date is Tuesday, September 13th. AMETEK's payout ratio is 18.72%.
Analyst Upgrades and Downgrades
AME has been the subject of a number of analyst reports. Mizuho lifted their price objective on shares of AMETEK from $135.00 to $140.00 and gave the company a "buy" rating in a report on Wednesday, August 3rd. StockNews.com upgraded shares of AMETEK from a "hold" rating to a "buy" rating in a report on Friday, September 16th. DA Davidson lifted their price objective on shares of AMETEK to $160.00 in a report on Tuesday, August 9th. Bank of America cut shares of AMETEK from a "buy" rating to a "neutral" rating and reduced their price objective for the company from $170.00 to $122.00 in a report on Monday, July 11th. Finally, Royal Bank of Canada reiterated an "outperform" rating on shares of AMETEK in a report on Wednesday, August 3rd. Two analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to MarketBeat, AMETEK currently has a consensus rating of "Moderate Buy" and an average price target of $148.56.
AMETEK Profile
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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.
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