Vaughan Nelson Investment Management L.P. Sells 40,295 Shares of AMETEK, Inc. (NYSE:AME)
Vaughan Nelson Investment Management L.P. decreased its position in shares of AMETEK, Inc. (NYSE:AME - Free Report) by 13.0% during the first quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 268,484 shares of the technology company's stock after selling 40,295 shares during the quarter. Vaughan Nelson Investment Management L.P. owned approximately 0.12% of AMETEK worth $39,019,000 at the end of the most recent quarter.
Other large investors have also made changes to their positions in the company. Bellwether Advisors LLC acquired a new stake in AMETEK in the 1st quarter worth about $568,000. Assetmark Inc. grew its position in shares of AMETEK by 24.3% during the first quarter. Assetmark Inc. now owns 31,477 shares of the technology company's stock worth $4,575,000 after acquiring an additional 6,155 shares during the last quarter. Versor Investments LP purchased a new stake in AMETEK during the 1st quarter valued at approximately $334,000. Clifford Swan Investment Counsel LLC acquired a new position in shares of AMETEK during the first quarter worth about $225,000. Finally, Cullen Frost Bankers Inc. grew its stake in AMETEK by 4.8% in the 1st quarter. Cullen Frost Bankers Inc. now owns 2,157 shares of the technology company's stock valued at $313,000 after acquiring an additional 98 shares during the last quarter. 85.13% of the stock is currently owned by hedge funds and other institutional investors.
A number of research firms have recently commented on AME. Wells Fargo & Company upped their price objective on AMETEK from $180.00 to $185.00 and gave the stock an "overweight" rating in a report on Wednesday. StockNews.com started coverage on AMETEK in a research note on Thursday, May 18th. They issued a "buy" rating on the stock. Royal Bank of Canada increased their target price on AMETEK from $174.00 to $182.00 and gave the company an "outperform" rating in a report on Wednesday. Morgan Stanley raised their price objective on shares of AMETEK from $162.00 to $174.00 and gave the stock an "overweight" rating in a research note on Wednesday. Finally, DA Davidson upped their price target on AMETEK from $177.00 to $180.00 in a report on Thursday, June 8th. One research analyst has rated the stock with a hold rating and six have assigned a buy rating to the stock. According to MarketBeat.com, AMETEK presently has an average rating of "Moderate Buy" and an average target price of $175.29.
AME stock traded down $1.28 during trading hours on Friday, hitting $156.57. 595,635 shares of the stock were exchanged, compared to its average volume of 996,610. AMETEK, Inc. has a 12 month low of $110.87 and a 12 month high of $164.75. The company has a current ratio of 1.84, a quick ratio of 1.07 and a debt-to-equity ratio of 0.28. The company has a 50-day simple moving average of $155.68 and a two-hundred day simple moving average of $146.62. The firm has a market capitalization of $36.12 billion, a P/E ratio of 29.56, a P/E/G ratio of 2.85 and a beta of 1.21.
AMETEK (NYSE:AME - Get Free Report) last posted its quarterly earnings data on Tuesday, August 1st. The technology company reported $1.57 earnings per share for the quarter, topping the consensus estimate of $1.52 by $0.05. AMETEK had a net margin of 19.23% and a return on equity of 18.70%. The business had revenue of $1.65 billion during the quarter, compared to analysts' expectations of $1.64 billion. During the same quarter in the prior year, the business posted $1.38 earnings per share. AMETEK's revenue was up 8.7% compared to the same quarter last year. On average, analysts forecast that AMETEK, Inc. will post 6.23 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, September 29th. Shareholders of record on Thursday, September 14th will be issued a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 0.64%. AMETEK's payout ratio is currently 18.73%.
AMETEK, Inc manufactures and sells electronic instruments and electromechanical devices in North America, Europe, Asia, and South America. 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.Its EMG segment offers engineered electrical connectors and electronics packaging to protect sensitive devices and mission-critical electronics; precision motion control products for data storage, medical devices, business equipment, automation, and other applications; high-purity powdered metals, strips and foils, specialty clad metals, and metal matrix composites; motor-blower systems and heat exchangers for use in thermal management, military, commercial aircraft, and military ground vehicles; and motors for use in commercial appliances, fitness equipment, food and beverage machines, hydraulic pumps, and industrial blowers.
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