Marshall Wace LLP Buys 32,859 Shares of AMETEK, Inc. (NYSE:AME)

Marshall Wace LLP lifted its position in shares of AMETEK, Inc. (NYSE:AME) by 2,987.2% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 33,959 shares of the technology company’s stock after acquiring an additional 32,859 shares during the quarter. Marshall Wace LLP’s holdings in AMETEK were worth $5,661,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Washington Trust Advisors Inc. bought a new position in AMETEK in the first quarter valued at about $37,000. Family Firm Inc. bought a new position in AMETEK in the 2nd quarter valued at approximately $39,000. Industrial Alliance Investment Management Inc. acquired a new stake in AMETEK during the 2nd quarter worth approximately $42,000. Headlands Technologies LLC bought a new stake in AMETEK during the 1st quarter worth approximately $43,000. Finally, Crewe Advisors LLC increased its position in AMETEK by 168.8% in the 2nd quarter. Crewe Advisors LLC now owns 293 shares of the technology company’s stock valued at $49,000 after acquiring an additional 184 shares during the period. Institutional investors own 87.43% of the company’s stock.

AMETEK Price Performance

Shares of AME opened at $171.69 on Tuesday. The firm has a market cap of $39.74 billion, a PE ratio of 30.17, a price-to-earnings-growth ratio of 2.81 and a beta of 1.17. AMETEK, Inc. has a 52-week low of $136.89 and a 52-week high of $186.32. The business’s 50 day moving average price is $166.41 and its two-hundred day moving average price is $170.84. The company has a debt-to-equity ratio of 0.20, a quick ratio of 0.76 and a current ratio of 1.26.

AMETEK (NYSE:AME) last issued its earnings results on Thursday, August 1st. The technology company reported $1.66 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.64 by $0.02. AMETEK had a net margin of 19.51% and a return on equity of 17.41%. The business had revenue of $1.73 billion for the quarter, compared to analyst estimates of $1.78 billion. During the same period in the prior year, the firm earned $1.57 earnings per share. AMETEK’s revenue was up 5.4% on a year-over-year basis. On average, equities analysts anticipate that AMETEK, Inc. will post 6.77 EPS for the current year.

AMETEK Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, September 30th. Investors of record on Monday, September 16th were given a $0.28 dividend. This represents a $1.12 dividend on an annualized basis and a yield of 0.65%. The ex-dividend date of this dividend was Monday, September 16th. AMETEK’s payout ratio is 19.68%.

Insider Buying and Selling

In other AMETEK news, Director Steven W. Kohlhagen sold 1,460 shares of the firm’s stock in a transaction that occurred on Wednesday, September 25th. The stock was sold at an average price of $171.59, for a total value of $250,521.40. Following the completion of the sale, the director now owns 23,349 shares of the company’s stock, valued at $4,006,454.91. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.61% of the stock is owned by company insiders.

Analyst Ratings Changes

AME has been the topic of a number of recent research reports. TD Cowen cut their price target on shares of AMETEK from $165.00 to $158.00 and set a “hold” rating on the stock in a report on Monday, August 5th. Robert W. Baird reduced their price target on AMETEK from $171.00 to $166.00 and set a “neutral” rating on the stock in a research report on Wednesday, August 7th. Wolfe Research raised AMETEK to a “hold” rating in a research note on Wednesday, September 18th. Royal Bank of Canada cut their price objective on AMETEK from $216.00 to $215.00 and set an “outperform” rating on the stock in a research note on Friday, August 2nd. Finally, StockNews.com downgraded shares of AMETEK from a “buy” rating to a “hold” rating in a research report on Tuesday, August 6th. Five equities research analysts have rated the stock with a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $186.29.

About AMETEK

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.