Royal London Asset Management Ltd. Takes $7.37 Million Position in AMETEK, Inc. (AME)

Royal London Asset Management Ltd. purchased a new stake in shares of AMETEK, Inc. (NYSE:AME) during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm purchased 102,110 shares of the technology company’s stock, valued at approximately $7,370,000.

A number of other hedge funds also recently made changes to their positions in the business. BlackRock Inc. grew its holdings in AMETEK by 11.8% during the second quarter. BlackRock Inc. now owns 18,178,345 shares of the technology company’s stock valued at $1,311,749,000 after purchasing an additional 1,922,878 shares during the last quarter. Massachusetts Financial Services Co. MA grew its holdings in AMETEK by 1.5% during the second quarter. Massachusetts Financial Services Co. MA now owns 5,447,603 shares of the technology company’s stock valued at $393,100,000 after purchasing an additional 78,075 shares during the last quarter. Boston Partners grew its holdings in AMETEK by 3.4% during the second quarter. Boston Partners now owns 5,436,691 shares of the technology company’s stock valued at $392,311,000 after purchasing an additional 179,026 shares during the last quarter. Mawer Investment Management Ltd. grew its holdings in AMETEK by 1.8% during the second quarter. Mawer Investment Management Ltd. now owns 2,792,795 shares of the technology company’s stock valued at $201,516,000 after purchasing an additional 48,755 shares during the last quarter. Finally, AustralianSuper Pty Ltd grew its holdings in AMETEK by 17.1% during the second quarter. AustralianSuper Pty Ltd now owns 2,212,000 shares of the technology company’s stock valued at $159,618,000 after purchasing an additional 323,600 shares during the last quarter. Institutional investors own 85.10% of the company’s stock.

In other AMETEK news, VP William Joseph Burke sold 15,600 shares of AMETEK stock in a transaction on Tuesday, September 11th. The shares were sold at an average price of $80.00, for a total transaction of $1,248,000.00. Following the sale, the vice president now owns 68,289 shares in the company, valued at $5,463,120. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider John Wesley Hardin sold 29,955 shares of AMETEK stock in a transaction on Wednesday, September 19th. The stock was sold at an average price of $81.55, for a total transaction of $2,442,830.25. Following the sale, the insider now owns 70,016 shares in the company, valued at approximately $5,709,804.80. The disclosure for this sale can be found here. Insiders have sold 66,925 shares of company stock worth $5,334,720 in the last quarter. Corporate insiders own 2.00% of the company’s stock.

Shares of AMETEK stock opened at $80.04 on Wednesday. The firm has a market capitalization of $18.68 billion, a PE ratio of 27.12, a P/E/G ratio of 2.29 and a beta of 1.21. The company has a debt-to-equity ratio of 0.42, a quick ratio of 1.19 and a current ratio of 1.71. AMETEK, Inc. has a 1 year low of $65.00 and a 1 year high of $81.92.

AMETEK (NYSE:AME) last announced its quarterly earnings data on Tuesday, July 31st. The technology company reported $0.83 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.78 by $0.05. The business had revenue of $1.21 billion for the quarter, compared to the consensus estimate of $1.19 billion. AMETEK had a net margin of 16.65% and a return on equity of 16.94%. AMETEK’s quarterly revenue was up 13.6% on a year-over-year basis. During the same quarter last year, the company posted $0.65 earnings per share. sell-side analysts anticipate that AMETEK, Inc. will post 3.21 earnings per share for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Friday, September 28th. Shareholders of record on Friday, September 14th will be paid a dividend of $0.14 per share. The ex-dividend date is Thursday, September 13th. This represents a $0.56 dividend on an annualized basis and a yield of 0.70%. AMETEK’s dividend payout ratio is currently 21.46%.

AME has been the topic of several analyst reports. Bank of America increased their price target on AMETEK from $87.00 to $91.00 and gave the company a “buy” rating in a report on Wednesday, August 1st. Royal Bank of Canada restated a “buy” rating and issued a $86.00 price objective on shares of AMETEK in a research note on Wednesday, August 1st. Cowen restated a “buy” rating and issued a $85.00 price objective on shares of AMETEK in a research note on Sunday, August 12th. Morgan Stanley raised their price objective on shares of AMETEK from $79.00 to $84.00 and gave the stock an “equal weight” rating in a research note on Wednesday, August 1st. Finally, ValuEngine upgraded shares of AMETEK from a “hold” rating to a “buy” rating in a research note on Thursday, August 2nd. Two equities research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and an average price target of $86.08.

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.

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Institutional Ownership by Quarter for AMETEK (NYSE:AME)

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