AMETEK, Inc. (NYSE:AME) Stock Position Cut by Ballentine Partners LLC

Ballentine Partners LLC lowered its holdings in AMETEK, Inc. (NYSE:AME) by 3.1% during the 3rd quarter, HoldingsChannel.com reports. The firm owned 3,753 shares of the technology company’s stock after selling 122 shares during the quarter. Ballentine Partners LLC’s holdings in AMETEK were worth $644,000 at the end of the most recent reporting period.

Several other hedge funds also recently made changes to their positions in the business. JPMorgan Chase & Co. grew its stake in shares of AMETEK by 48.4% in the 1st quarter. JPMorgan Chase & Co. now owns 7,075,565 shares of the technology company’s stock worth $1,294,121,000 after purchasing an additional 2,306,535 shares during the last quarter. Price T Rowe Associates Inc. MD grew its stake in shares of AMETEK by 0.7% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 6,536,231 shares of the technology company’s stock worth $1,195,478,000 after purchasing an additional 44,899 shares during the last quarter. Bank of New York Mellon Corp grew its stake in shares of AMETEK by 34.6% in the 2nd quarter. Bank of New York Mellon Corp now owns 3,602,753 shares of the technology company’s stock worth $600,615,000 after purchasing an additional 926,657 shares during the last quarter. Boston Partners grew its stake in shares of AMETEK by 3.0% in the 1st quarter. Boston Partners now owns 3,063,588 shares of the technology company’s stock worth $560,278,000 after purchasing an additional 90,271 shares during the last quarter. Finally, Flossbach Von Storch AG grew its stake in shares of AMETEK by 3.4% in the 1st quarter. Flossbach Von Storch AG now owns 2,673,507 shares of the technology company’s stock worth $488,984,000 after purchasing an additional 87,477 shares during the last quarter. Institutional investors and hedge funds own 87.43% of the company’s stock.

Insider Activity

In other news, Director Steven W. Kohlhagen sold 1,460 shares of AMETEK stock in a transaction that occurred on Wednesday, September 25th. The shares were sold at an average price of $171.59, for a total value of $250,521.40. Following the transaction, the director now owns 23,349 shares of the company’s stock, valued at $4,006,454.91. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders own 0.61% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on AME shares. Mizuho lifted their price objective on shares of AMETEK from $180.00 to $190.00 and gave the stock an “outperform” rating in a research note on Thursday, October 17th. Wolfe Research raised shares of AMETEK to a “hold” rating in a research report on Wednesday, September 18th. Redburn Atlantic raised shares of AMETEK to a “strong-buy” rating in a research report on Friday, August 2nd. StockNews.com downgraded shares of AMETEK from a “buy” rating to a “hold” rating in a research report on Tuesday, August 6th. Finally, TD Cowen downgraded shares of AMETEK from a “hold” rating to a “sell” rating in a research report on Monday, October 7th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating, five have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, AMETEK currently has a consensus rating of “Moderate Buy” and an average target price of $193.29.

AMETEK Price Performance

NYSE AME opened at $166.96 on Friday. The company has a quick ratio of 0.76, a current ratio of 1.26 and a debt-to-equity ratio of 0.20. The stock has a market capitalization of $38.65 billion, a PE ratio of 29.34, a price-to-earnings-growth ratio of 2.77 and a beta of 1.17. The company has a 50 day moving average price of $168.41 and a two-hundred day moving average price of $169.23. AMETEK, Inc. has a 12-month low of $136.89 and a 12-month high of $186.32.

AMETEK (NYSE:AME) last released its quarterly earnings results on Thursday, August 1st. The technology company reported $1.66 EPS for the quarter, beating analysts’ consensus estimates of $1.64 by $0.02. AMETEK had a net margin of 19.51% and a return on equity of 17.41%. The company had revenue of $1.73 billion for the quarter, compared to analyst estimates of $1.78 billion. During the same quarter last year, the firm posted $1.57 earnings per share. The company’s quarterly revenue was up 5.4% compared to the same quarter last year. As a group, equities analysts predict that AMETEK, Inc. will post 6.76 earnings per share for the current fiscal year.

AMETEK Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, September 30th. Stockholders of record on Monday, September 16th were given a $0.28 dividend. This represents a $1.12 dividend on an annualized basis and a dividend yield of 0.67%. The ex-dividend date was Monday, September 16th. AMETEK’s dividend payout ratio is 19.68%.

AMETEK Profile

AMETEK, Inc manufactures and sells electronic instruments and electromechanical devices in the North America, Europe, Asia, and South America, and internationally. The company's EIG segment offers advanced instruments for the process, aerospace, power, and industrial markets; process and analytical instruments for the oil and gas, petrochemical, pharmaceutical, semiconductor, automation, and food and beverage industries; instruments to the laboratory equipment, ultra-precision manufacturing, medical, and test and measurement markets; power quality monitoring and c devices, uninterruptible power supplies, programmable power and electromagnetic compatibility test equipment, and sensors for gas turbines and dashboard instruments; heavy trucks, instrumentation, and controls for the food and beverage industries; and aircraft and engine sensors, power supplies, embedded computing, monitoring, fuel and fluid measurement, and data acquisition systems for aerospace and defense industry.