Russell Investments Group Ltd. Buys 13,914 Shares of AMETEK, Inc. (NYSE:AME)

Russell Investments Group Ltd. increased its stake in shares of AMETEK, Inc. (NYSE:AME) by 16.3% during the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor owned 99,075 shares of the technology company’s stock after acquiring an additional 13,914 shares during the period. Russell Investments Group Ltd.’s holdings in AMETEK were worth $12,651,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Grandview Asset Management LLC bought a new stake in AMETEK during the first quarter worth about $51,000. Regent Peak Wealth Advisors LLC bought a new stake in AMETEK during the fourth quarter worth about $26,000. Wealthcare Advisory Partners LLC bought a new stake in AMETEK during the first quarter worth about $39,000. CWM LLC raised its stake in AMETEK by 374.2% in the first quarter. CWM LLC now owns 313 shares of the technology company’s stock valued at $40,000 after buying an additional 247 shares during the period. Finally, Vantage Consulting Group Inc bought a new stake in AMETEK in the fourth quarter valued at approximately $40,000. Institutional investors and hedge funds own 85.20% of the company’s stock.

Several analysts have issued reports on the company. KeyCorp upped their price objective on AMETEK from $141.00 to $150.00 and gave the company an “overweight” rating in a research note on Wednesday, May 5th. DA Davidson upped their price objective on AMETEK from $135.00 to $157.00 and gave the company a “buy” rating in a research note on Wednesday, May 5th. Wells Fargo & Company upped their price objective on AMETEK from $160.00 to $170.00 and gave the company an “overweight” rating in a research note on Wednesday, May 5th. Zacks Investment Research upgraded AMETEK from a “hold” rating to a “buy” rating and set a $140.00 price objective on the stock in a research note on Friday, April 16th. Finally, Rosenblatt Securities upped their target price on AMETEK from $140.00 to $142.00 and gave the company a “buy” rating in a research report on Tuesday, March 30th. One analyst has rated the stock with a hold rating and six have assigned a buy rating to the stock. The company currently has a consensus rating of “Buy” and an average target price of $151.67.

In related news, Director Anthony James Conti sold 740 shares of the stock in a transaction that occurred on Thursday, March 25th. The stock was sold at an average price of $121.43, for a total transaction of $89,858.20. Following the sale, the director now owns 25,538 shares of the company’s stock, valued at $3,101,079.34. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Ronald J. Oscher sold 39,650 shares of the firm’s stock in a transaction on Thursday, June 3rd. The shares were sold at an average price of $136.76, for a total value of $5,422,534.00. Following the completion of the sale, the insider now directly owns 43,269 shares in the company, valued at approximately $5,917,468.44. The disclosure for this sale can be found here. Insiders have sold 77,908 shares of company stock worth $10,247,569 in the last three months. 0.70% of the stock is currently owned by company insiders.

AMETEK stock opened at $136.35 on Friday. AMETEK, Inc. has a 12 month low of $84.53 and a 12 month high of $139.07. The company has a 50 day moving average price of $133.89. The company has a quick ratio of 1.73, a current ratio of 2.26 and a debt-to-equity ratio of 0.37. The firm has a market capitalization of $31.49 billion, a P/E ratio of 39.07, a price-to-earnings-growth ratio of 2.94 and a beta of 1.34.

AMETEK (NYSE:AME) last issued its quarterly earnings results on Monday, May 3rd. The technology company reported $1.07 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.01 by $0.06. The business had revenue of $1.22 billion for the quarter, compared to the consensus estimate of $1.17 billion. AMETEK had a return on equity of 15.97% and a net margin of 17.81%. The firm’s quarterly revenue was up 1.1% compared to the same quarter last year. During the same quarter in the prior year, the business posted $1.02 earnings per share. Sell-side analysts predict that AMETEK, Inc. will post 4.56 EPS for the current year.

The business also recently declared a quarterly dividend, which will be paid on Wednesday, June 30th. Investors of record on Monday, June 14th will be given a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a yield of 0.59%. The ex-dividend date of this dividend is Friday, June 11th. AMETEK’s dividend payout ratio is currently 20.25%.

About AMETEK

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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Institutional Ownership by Quarter for AMETEK (NYSE:AME)

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