Smith Salley & Associates Increases Holdings in AMETEK, Inc. (AME)

Smith Salley & Associates raised its holdings in shares of AMETEK, Inc. (NYSE:AME) by 5.3% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 89,491 shares of the technology company’s stock after buying an additional 4,512 shares during the period. Smith Salley & Associates’ holdings in AMETEK were worth $7,080,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the company. BlackRock Inc. increased its stake in shares of AMETEK by 11.8% in the second quarter. BlackRock Inc. now owns 18,178,345 shares of the technology company’s stock worth $1,311,749,000 after purchasing an additional 1,922,878 shares in the last quarter. Massachusetts Financial Services Co. MA increased its stake in shares of AMETEK by 1.5% in the third quarter. Massachusetts Financial Services Co. MA now owns 5,530,241 shares of the technology company’s stock worth $437,553,000 after purchasing an additional 82,638 shares in the last quarter. Boston Partners increased its stake in shares of AMETEK by 3.4% in the second quarter. Boston Partners now owns 5,436,691 shares of the technology company’s stock worth $392,311,000 after purchasing an additional 179,026 shares in the last quarter. American Century Companies Inc. increased its stake in shares of AMETEK by 10.4% in the third quarter. American Century Companies Inc. now owns 4,237,926 shares of the technology company’s stock worth $335,305,000 after purchasing an additional 400,177 shares in the last quarter. Finally, Mawer Investment Management Ltd. increased its stake in shares of AMETEK by 1.8% in the second quarter. Mawer Investment Management Ltd. now owns 2,792,795 shares of the technology company’s stock worth $201,516,000 after purchasing an additional 48,755 shares in the last quarter. 85.09% of the stock is owned by hedge funds and other institutional investors.

In other AMETEK news, Director Elizebeth R. Varet sold 3,000 shares of the stock in a transaction on Wednesday, August 29th. The shares were sold at an average price of $77.26, for a total transaction of $231,780.00. Following the completion of the transaction, the director now owns 104,810 shares in the company, valued at $8,097,620.60. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider John Wesley Hardin sold 29,955 shares of the stock in a transaction on Wednesday, September 19th. The shares were sold at an average price of $81.55, for a total transaction of $2,442,830.25. Following the transaction, the insider now owns 70,016 shares of the company’s stock, valued at approximately $5,709,804.80. The disclosure for this sale can be found here. Insiders have sold 56,925 shares of company stock valued at $4,580,360 over the last ninety days. 2.10% of the stock is currently owned by corporate insiders.

AME opened at $74.45 on Friday. The firm has a market cap of $17.46 billion, a P/E ratio of 28.52, a P/E/G ratio of 2.10 and a beta of 1.30. AMETEK, Inc. has a fifty-two week low of $64.91 and a fifty-two week high of $81.92. The company has a debt-to-equity ratio of 0.41, a current ratio of 2.06 and a quick ratio of 1.42.

AMETEK (NYSE:AME) last posted its earnings results on Thursday, November 1st. The technology company reported $0.82 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.78 by $0.04. The company had revenue of $1.19 billion during the quarter, compared to analysts’ expectations of $1.18 billion. AMETEK had a net margin of 17.06% and a return on equity of 17.08%. AMETEK’s quarterly revenue was up 10.0% on a year-over-year basis. During the same period last year, the company posted $0.66 earnings per share. As a group, research analysts predict that AMETEK, Inc. will post 3.27 EPS for the current year.

A number of analysts have recently issued reports on AME shares. Morgan Stanley increased their price objective on shares of AMETEK from $79.00 to $84.00 and gave the stock an “equal weight” rating in a research note on Wednesday, August 1st. Royal Bank of Canada reissued a “buy” rating and issued a $86.00 price objective on shares of AMETEK in a research note on Wednesday, August 1st. Robert W. Baird increased their price objective on shares of AMETEK from $82.00 to $84.00 and gave the stock an “outperform” rating in a research note on Friday, November 2nd. BMO Capital Markets reduced their price objective on shares of AMETEK from $93.00 to $91.00 and set an “outperform” rating for the company in a research note on Friday, November 2nd. Finally, ValuEngine raised shares of AMETEK from a “hold” rating to a “buy” rating in a research note on Tuesday. Two investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. The stock presently has an average rating of “Buy” and an average target price of $87.00.

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AMETEK Profile

AMETEK, Inc manufactures and sells electronic instruments and electromechanical devices worldwide. Its Electronic Instruments Group segment offers advanced instruments for the process, power and industrial, and aerospace markets; process and analytical instruments for the oil, gas, petrochemical, pharmaceutical, semiconductor, automation, and food and beverage markets; and instruments for the laboratory equipment, ultraprecision manufacturing, medical, and test and measurement markets.

See Also: Hedge Funds Explained

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Institutional Ownership by Quarter for AMETEK (NYSE:AME)

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