King Luther Capital Management Corp increased its position in AMETEK, Inc. (NYSE:AME – Free Report) by 8.3% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 106,833 shares of the technology company’s stock after buying an additional 8,195 shares during the quarter. King Luther Capital Management Corp’s holdings in AMETEK were worth $18,344,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other hedge funds and other institutional investors have also bought and sold shares of the company. Family Firm Inc. bought a new stake in shares of AMETEK in the 2nd quarter worth approximately $39,000. Industrial Alliance Investment Management Inc. purchased a new stake in AMETEK during the second quarter valued at about $42,000. Princeton Global Asset Management LLC bought a new position in shares of AMETEK during the third quarter valued at about $44,000. Crewe Advisors LLC increased its holdings in shares of AMETEK by 168.8% in the second quarter. Crewe Advisors LLC now owns 293 shares of the technology company’s stock worth $49,000 after buying an additional 184 shares during the period. Finally, First Command Advisory Services Inc. bought a new stake in shares of AMETEK in the 2nd quarter valued at about $50,000. Hedge funds and other institutional investors own 87.43% of the company’s stock.
Insider Activity at AMETEK
In other AMETEK news, insider David F. Hermance sold 6,243 shares of AMETEK stock in a transaction on Friday, November 8th. The shares were sold at an average price of $190.99, for a total value of $1,192,350.57. Following the completion of the transaction, the insider now directly owns 36,731 shares of the company’s stock, valued at $7,015,253.69. This trade represents a 14.53 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, Director Steven W. Kohlhagen sold 1,460 shares of the company’s stock in a transaction dated Wednesday, September 25th. The shares were sold at an average price of $171.59, for a total transaction of $250,521.40. Following the sale, the director now owns 23,349 shares in the company, valued at $4,006,454.91. This represents a 5.88 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.61% of the stock is currently owned by insiders.
Analyst Upgrades and Downgrades
Read Our Latest Stock Analysis on AMETEK
AMETEK Stock Performance
Shares of AME opened at $195.20 on Friday. The stock has a market cap of $45.15 billion, a price-to-earnings ratio of 34.01, a PEG ratio of 3.16 and a beta of 1.16. AMETEK, Inc. has a 52 week low of $149.03 and a 52 week high of $196.70. The business has a 50-day simple moving average of $175.87 and a two-hundred day simple moving average of $170.49. The company has a quick ratio of 0.84, a current ratio of 1.39 and a debt-to-equity ratio of 0.18.
AMETEK (NYSE:AME – Get Free Report) last released its quarterly earnings data on Thursday, October 31st. The technology company reported $1.66 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.62 by $0.04. AMETEK had a net margin of 19.27% and a return on equity of 16.88%. The firm had revenue of $1.71 billion for the quarter, compared to analysts’ expectations of $1.71 billion. During the same quarter last year, the business posted $1.64 earnings per share. The company’s revenue for the quarter was up 5.3% compared to the same quarter last year. On average, analysts expect that AMETEK, Inc. will post 6.8 EPS for the current year.
AMETEK Dividend Announcement
The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 20th. Stockholders of record on Friday, December 6th will be issued a dividend of $0.28 per share. The ex-dividend date is Friday, December 6th. This represents a $1.12 annualized dividend and a dividend yield of 0.57%. AMETEK’s dividend payout ratio (DPR) is 19.51%.
AMETEK Profile
AMETEK, Inc manufactures and sells electronic instruments and electromechanical devices in the North America, Europe, Asia, and South America, and internationally. 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; instruments to the laboratory equipment, ultra-precision manufacturing, medical, and test and measurement markets; power quality monitoring and c devices, uninterruptible power supplies, programmable power and electromagnetic compatibility test equipment, and sensors for gas turbines and dashboard instruments; heavy trucks, instrumentation, and controls for the food and beverage industries; and aircraft and engine sensors, power supplies, embedded computing, monitoring, fuel and fluid measurement, and data acquisition systems for aerospace and defense industry.
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