FIL Ltd Cuts Holdings in AMETEK, Inc. (AME)

FIL Ltd lessened its stake in AMETEK, Inc. (NYSE:AME) by 67.8% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 47,740 shares of the technology company’s stock after selling 100,673 shares during the period. FIL Ltd’s holdings in AMETEK were worth $3,778,000 at the end of the most recent reporting period.

A number of other hedge funds also recently added to or reduced their stakes in AME. Point72 Asset Management L.P. boosted its stake in shares of AMETEK by 67.6% in the 2nd quarter. Point72 Asset Management L.P. now owns 125,700 shares of the technology company’s stock valued at $9,071,000 after purchasing an additional 50,700 shares in the last quarter. Teacher Retirement System of Texas boosted its stake in shares of AMETEK by 9.9% in the 2nd quarter. Teacher Retirement System of Texas now owns 229,597 shares of the technology company’s stock valued at $16,568,000 after purchasing an additional 20,642 shares in the last quarter. Dynamic Technology Lab Private Ltd boosted its stake in shares of AMETEK by 92.6% in the 2nd quarter. Dynamic Technology Lab Private Ltd now owns 18,202 shares of the technology company’s stock valued at $1,313,000 after purchasing an additional 8,749 shares in the last quarter. Verition Fund Management LLC boosted its stake in shares of AMETEK by 208.1% in the 2nd quarter. Verition Fund Management LLC now owns 25,291 shares of the technology company’s stock valued at $1,825,000 after purchasing an additional 17,082 shares in the last quarter. Finally, Global X Management Co LLC boosted its stake in shares of AMETEK by 23.2% in the 2nd quarter. Global X Management Co LLC now owns 7,584 shares of the technology company’s stock valued at $547,000 after purchasing an additional 1,426 shares in the last quarter. 84.63% of the stock is owned by institutional investors and hedge funds.

Shares of AME opened at $73.43 on Monday. The firm has a market cap of $17.04 billion, a price-to-earnings ratio of 23.46, a PEG ratio of 2.01 and a beta of 1.32. 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, Inc. has a twelve month low of $64.91 and a twelve month high of $81.92.

AMETEK (NYSE:AME) last announced its quarterly 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 business 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%. The firm’s revenue for the quarter was up 10.0% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.66 EPS. As a group, equities research analysts forecast that AMETEK, Inc. will post 3.27 EPS for the current fiscal year.

The company also recently declared a quarterly dividend, which will be paid on Friday, December 21st. Shareholders of record on Friday, December 7th will be given a dividend of $0.14 per share. The ex-dividend date is Thursday, December 6th. This represents a $0.56 annualized dividend and a yield of 0.76%. AMETEK’s payout ratio is currently 21.46%.

In other AMETEK news, Director Elizebeth R. Varet sold 1,500 shares of the stock in a transaction on Friday, September 7th. The shares were sold at an average price of $78.10, for a total transaction of $117,150.00. Following the completion of the sale, the director now owns 4,148 shares of the company’s stock, valued at approximately $323,958.80. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Gretchen W. Mcclain sold 3,870 shares of the stock in a transaction on Thursday, September 13th. The shares were sold at an average price of $80.00, for a total transaction of $309,600.00. Following the sale, the director now directly owns 8,018 shares of the company’s stock, valued at approximately $641,440. The disclosure for this sale can be found here. Insiders have sold a total of 50,925 shares of company stock valued at $4,117,580 in the last three months. 2.00% of the stock is currently owned by corporate insiders.

A number of equities research analysts have recently issued reports on the stock. Cowen reaffirmed a “buy” rating and issued a $85.00 price objective on shares of AMETEK in a research note on Sunday, August 12th. BMO Capital Markets cut 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. ValuEngine cut shares of AMETEK from a “buy” rating to a “hold” rating in a research note on Tuesday, October 23rd. Stephens assumed coverage on shares of AMETEK in a research note on Monday, November 19th. They issued an “overweight” rating and a $87.00 price objective for the company. Finally, Robert W. Baird upped their price objective on shares of AMETEK from $82.00 to $84.00 and gave the company an “outperform” rating in a research note on Friday, November 2nd. Two analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. AMETEK presently has an average rating of “Buy” and an average target price of $87.00.

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About AMETEK

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.

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Institutional Ownership by Quarter for AMETEK (NYSE:AME)

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