Montag A & Associates Inc. grew its holdings in shares of AMETEK, Inc. (NYSE:AME) by 261.8% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 38,225 shares of the technology company’s stock after buying an additional 27,661 shares during the quarter. Montag A & Associates Inc.’s holdings in AMETEK were worth $3,510,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also made changes to their positions in the company. Connor Clark & Lunn Investment Management Ltd. raised its position in shares of AMETEK by 29.5% during the 2nd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 15,800 shares of the technology company’s stock valued at $1,435,000 after buying an additional 3,600 shares in the last quarter. Wilbanks Smith & Thomas Asset Management LLC raised its position in shares of AMETEK by 7.3% during the 2nd quarter. Wilbanks Smith & Thomas Asset Management LLC now owns 3,027 shares of the technology company’s stock valued at $275,000 after buying an additional 205 shares in the last quarter. CENTRAL TRUST Co raised its position in shares of AMETEK by 4.6% during the 2nd quarter. CENTRAL TRUST Co now owns 3,103 shares of the technology company’s stock valued at $278,000 after buying an additional 137 shares in the last quarter. Private Trust Co. NA bought a new position in AMETEK during the 2nd quarter valued at about $421,000. Finally, BTIM Corp. grew its holdings in AMETEK by 1.2% during the 2nd quarter. BTIM Corp. now owns 83,750 shares of the technology company’s stock valued at $7,608,000 after purchasing an additional 975 shares during the last quarter. Hedge funds and other institutional investors own 86.51% of the company’s stock.
NYSE:AME traded up $0.34 during mid-day trading on Friday, hitting $96.54. 605,909 shares of the stock traded hands, compared to its average volume of 1,194,337. The company has a quick ratio of 1.48, a current ratio of 2.05 and a debt-to-equity ratio of 0.46. The stock has a market capitalization of $22.00 billion, a price-to-earnings ratio of 29.34, a PEG ratio of 2.13 and a beta of 1.20. The firm’s 50 day moving average is $90.10 and its two-hundred day moving average is $87.78. AMETEK, Inc. has a 52 week low of $63.14 and a 52 week high of $97.30.
AMETEK (NYSE:AME) last issued its earnings results on Thursday, October 31st. The technology company reported $1.06 EPS for the quarter, topping the Zacks’ consensus estimate of $1.01 by $0.05. The business had revenue of $1.28 billion for the quarter, compared to the consensus estimate of $1.28 billion. AMETEK had a net margin of 16.63% and a return on equity of 20.04%. The company’s revenue for the quarter was up 7.0% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.91 EPS. As a group, research analysts predict that AMETEK, Inc. will post 4.14 EPS for the current year.
The business also recently announced a quarterly dividend, which will be paid on Friday, December 20th. Shareholders of record on Friday, December 6th will be paid a $0.14 dividend. This represents a $0.56 dividend on an annualized basis and a yield of 0.58%. AMETEK’s dividend payout ratio is currently 17.02%.
AME has been the topic of several analyst reports. Royal Bank of Canada set a $95.00 price target on shares of AMETEK and gave the company a “buy” rating in a report on Wednesday, July 31st. Bank of America downgraded shares of AMETEK from a “buy” rating to a “neutral” rating and cut their price target for the company from $105.00 to $95.00 in a report on Friday, October 11th. Wolfe Research set a $100.00 price target on shares of AMETEK and gave the company a “buy” rating in a report on Friday, November 1st. Oppenheimer upped their price target on shares of AMETEK from $94.00 to $100.00 and gave the company an “outperform” rating in a report on Wednesday, July 31st. Finally, Morgan Stanley set a $102.00 price target on shares of AMETEK and gave the company a “buy” rating in a report on Friday, November 1st. Two research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. The stock presently has a consensus rating of “Buy” and a consensus price target of $97.62.
In other AMETEK news, Director Elizebeth R. Varet sold 4,000 shares of the company’s stock in a transaction dated Thursday, August 29th. The shares were sold at an average price of $85.69, for a total value of $342,760.00. Following the transaction, the director now directly owns 95,670 shares in the company, valued at approximately $8,197,962.30. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Tony J. Ciampitti sold 9,534 shares of the company’s stock in a transaction dated Thursday, November 7th. The stock was sold at an average price of $97.14, for a total transaction of $926,132.76. Following the completion of the transaction, the insider now owns 42,979 shares in the company, valued at $4,174,980.06. The disclosure for this sale can be found here. Insiders sold a total of 37,560 shares of company stock worth $3,562,982 over the last 90 days. Insiders own 0.80% of the company’s stock.
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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