Jennison Associates LLC Has $80.80 Million Position in AMETEK, Inc. (NYSE:AME)

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Jennison Associates LLC reduced its position in shares of AMETEK, Inc. (NYSE:AME) by 8.0% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 889,491 shares of the technology company’s stock after selling 76,960 shares during the quarter. Jennison Associates LLC’s holdings in AMETEK were worth $80,801,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in AME. FMR LLC increased its stake in shares of AMETEK by 0.9% in the first quarter. FMR LLC now owns 9,355,080 shares of the technology company’s stock worth $776,191,000 after acquiring an additional 80,100 shares during the last quarter. American Century Companies Inc. increased its stake in shares of AMETEK by 3.9% in the first quarter. American Century Companies Inc. now owns 4,615,355 shares of the technology company’s stock worth $382,936,000 after acquiring an additional 172,395 shares during the last quarter. JPMorgan Chase & Co. increased its stake in shares of AMETEK by 24.8% in the first quarter. JPMorgan Chase & Co. now owns 4,147,050 shares of the technology company’s stock worth $344,081,000 after acquiring an additional 823,704 shares during the last quarter. Mawer Investment Management Ltd. increased its stake in shares of AMETEK by 8.4% in the second quarter. Mawer Investment Management Ltd. now owns 3,234,280 shares of the technology company’s stock worth $293,710,000 after acquiring an additional 251,218 shares during the last quarter. Finally, Geode Capital Management LLC increased its stake in shares of AMETEK by 5.8% in the fourth quarter. Geode Capital Management LLC now owns 2,966,822 shares of the technology company’s stock worth $200,498,000 after acquiring an additional 162,203 shares during the last quarter. 86.54% of the stock is currently owned by institutional investors.

AMETEK stock traded down $2.15 during mid-day trading on Friday, hitting $83.62. 916,598 shares of the company’s stock were exchanged, compared to its average volume of 1,242,324. The company has a current ratio of 2.17, a quick ratio of 1.53 and a debt-to-equity ratio of 0.51. The stock has a market cap of $19.59 billion, a P/E ratio of 25.42, a P/E/G ratio of 2.19 and a beta of 1.22. AMETEK, Inc. has a 1-year low of $63.14 and a 1-year high of $92.30. The stock has a 50 day moving average of $88.04 and a two-hundred day moving average of $84.62.

AMETEK (NYSE:AME) last posted its earnings results on Tuesday, July 30th. The technology company reported $1.05 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.03 by $0.02. The firm had revenue of $1.29 billion for the quarter, compared to the consensus estimate of $1.32 billion. AMETEK had a net margin of 16.32% and a return on equity of 19.27%. The business’s quarterly revenue was up 6.7% on a year-over-year basis. During the same period in the prior year, the business posted $0.83 earnings per share. As a group, research analysts predict that AMETEK, Inc. will post 4.1 EPS for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Monday, September 30th. Shareholders of record on Monday, September 16th will be given a dividend of $0.14 per share. This represents a $0.56 annualized dividend and a yield of 0.67%. The ex-dividend date is Friday, September 13th. AMETEK’s payout ratio is 17.02%.

In other AMETEK news, VP Thomas M. Montgomery sold 5,602 shares of the stock in a transaction on Thursday, June 27th. The shares were sold at an average price of $88.50, for a total transaction of $495,777.00. Following the transaction, the vice president now directly owns 26,419 shares of the company’s stock, valued at $2,338,081.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Elizebeth R. Varet sold 2,000 shares of the stock in a transaction on Monday, June 17th. The stock was sold at an average price of $84.90, for a total transaction of $169,800.00. Following the transaction, the director now directly owns 99,670 shares in the company, valued at $8,461,983. The disclosure for this sale can be found here. Insiders have sold 90,010 shares of company stock worth $7,786,522 over the last three months. Company insiders own 0.80% of the company’s stock.

AME has been the topic of a number of research reports. BMO Capital Markets upped their price target on shares of AMETEK from $99.00 to $101.00 and gave the stock an “outperform” rating in a research note on Thursday, May 2nd. Royal Bank of Canada set a $95.00 price target on shares of AMETEK and gave the stock a “buy” rating in a research note on Wednesday, July 31st. Oppenheimer upped their price target on shares of AMETEK from $94.00 to $100.00 and gave the stock an “outperform” rating in a research note on Wednesday, July 31st. Vertical Research reaffirmed a “buy” rating on shares of AMETEK in a research note on Friday, May 3rd. Finally, DA Davidson upped their price target on shares of AMETEK to $101.00 and gave the stock a “buy” rating in a research note on Thursday, May 2nd. One research analyst has rated the stock with a hold rating and thirteen have issued a buy rating to the company. AMETEK has a consensus rating of “Buy” and an average target price of $94.36.

AMETEK Company Profile

AMETEK, Inc manufactures and sells electronic instruments and electromechanical devices worldwide. The company's Electronic Instruments segment offers advanced instruments for the process, aerospace, power, and industrial markets; process control 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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