Montag A & Associates Inc. increased its holdings in shares of AMETEK, Inc. (NYSE:AME) by 261.8% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 38,225 shares of the technology company’s stock after purchasing an additional 27,661 shares during the period. Montag A & Associates Inc.’s holdings in AMETEK were worth $3,510,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other institutional investors have also modified their holdings of the company. Connor Clark & Lunn Investment Management Ltd. raised its holdings in shares of AMETEK by 29.5% during the second quarter. Connor Clark & Lunn Investment Management Ltd. now owns 15,800 shares of the technology company’s stock worth $1,435,000 after purchasing an additional 3,600 shares during the last quarter. Wilbanks Smith & Thomas Asset Management LLC raised its holdings in shares of AMETEK by 7.3% during the second quarter. Wilbanks Smith & Thomas Asset Management LLC now owns 3,027 shares of the technology company’s stock worth $275,000 after purchasing an additional 205 shares during the last quarter. CENTRAL TRUST Co raised its holdings in shares of AMETEK by 4.6% during the second quarter. CENTRAL TRUST Co now owns 3,103 shares of the technology company’s stock worth $278,000 after purchasing an additional 137 shares during the last quarter. Private Trust Co. NA purchased a new position in shares of AMETEK during the second quarter worth $421,000. Finally, BTIM Corp. raised its holdings in shares of AMETEK by 1.2% during the second quarter. BTIM Corp. now owns 83,750 shares of the technology company’s stock worth $7,608,000 after purchasing an additional 975 shares during the last quarter. 86.51% of the stock is owned by hedge funds and other institutional investors.
Several brokerages recently issued reports on AME. Morgan Stanley set a $102.00 target price on shares of AMETEK and gave the stock a “buy” rating in a report on Friday, November 1st. Wolfe Research set a $100.00 target price on shares of AMETEK and gave the stock a “buy” rating in a report on Friday, November 1st. Bank of America cut shares of AMETEK from a “buy” rating to a “neutral” rating and reduced their target price for the stock from $105.00 to $95.00 in a report on Friday, October 11th. Royal Bank of Canada set a $95.00 target price on shares of AMETEK and gave the stock a “buy” rating in a report on Wednesday, July 31st. Finally, Oppenheimer raised their target price on shares of AMETEK from $94.00 to $100.00 and gave the stock an “outperform” rating in a report on Wednesday, July 31st. Two equities research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. AMETEK presently has an average rating of “Buy” and a consensus target price of $97.62.
AME stock traded up $0.34 during midday trading on Friday, hitting $96.54. 605,909 shares of the stock traded hands, compared to its average volume of 1,194,337. The firm has a market cap of $22.00 billion, a P/E ratio of 29.34, a PEG ratio of 2.13 and a beta of 1.20. The company has a debt-to-equity ratio of 0.46, a current ratio of 2.05 and a quick ratio of 1.48. The stock’s fifty day simple moving average is $90.10 and its 200-day simple moving average is $87.78. AMETEK, Inc. has a 1-year low of $63.14 and a 1-year high of $97.30.
AMETEK (NYSE:AME) last released its quarterly earnings results on Thursday, October 31st. The technology company reported $1.06 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.01 by $0.05. The company had revenue of $1.28 billion for the quarter, compared to analyst estimates of $1.28 billion. AMETEK had a net margin of 16.63% and a return on equity of 20.04%. The firm’s revenue was up 7.0% on a year-over-year basis. During the same quarter last year, the business earned $0.91 earnings per share. On average, research analysts predict that AMETEK, Inc. will post 4.14 earnings per share for the current year.
The company also recently declared a quarterly dividend, which will be paid on Friday, December 20th. Investors of record on Friday, December 6th will be given a dividend of $0.14 per share. This represents a $0.56 annualized dividend and a yield of 0.58%. AMETEK’s dividend payout ratio is presently 17.02%.
In related news, insider Tony J. Ciampitti sold 9,534 shares of the firm’s stock in a transaction on Thursday, November 7th. The shares were sold at an average price of $97.14, for a total transaction of $926,132.76. Following the sale, the insider now owns 42,979 shares in the company, valued at $4,174,980.06. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Director Elizebeth R. Varet sold 4,000 shares of the firm’s stock in a transaction on Thursday, August 29th. The shares were sold at an average price of $85.69, for a total transaction of $342,760.00. Following the sale, the director now owns 95,670 shares in the company, valued at approximately $8,197,962.30. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 37,560 shares of company stock worth $3,562,982. 0.80% of the stock is owned by company insiders.
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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