AMETEK, Inc. (NYSE:AME) Shares Sold by Los Angeles Capital Management LLC

Los Angeles Capital Management LLC cut its holdings in AMETEK, Inc. (NYSE:AME) by 92.0% in the 3rd quarter, HoldingsChannel reports. The institutional investor owned 2,139 shares of the technology company’s stock after selling 24,534 shares during the period. Los Angeles Capital Management LLC’s holdings in AMETEK were worth $367,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also modified their holdings of AME. Avantax Advisory Services Inc. boosted its holdings in shares of AMETEK by 4.4% in the 1st quarter. Avantax Advisory Services Inc. now owns 1,723 shares of the technology company’s stock valued at $315,000 after buying an additional 73 shares during the period. UniSuper Management Pty Ltd boosted its holdings in shares of AMETEK by 284.5% in the 1st quarter. UniSuper Management Pty Ltd now owns 8,160 shares of the technology company’s stock valued at $1,492,000 after buying an additional 6,038 shares during the period. Bessemer Group Inc. boosted its holdings in shares of AMETEK by 38.1% in the 1st quarter. Bessemer Group Inc. now owns 734,188 shares of the technology company’s stock valued at $134,283,000 after buying an additional 202,604 shares during the period. Lake Street Advisors Group LLC boosted its holdings in shares of AMETEK by 15.8% in the 1st quarter. Lake Street Advisors Group LLC now owns 1,709 shares of the technology company’s stock valued at $312,000 after buying an additional 233 shares during the period. Finally, CANADA LIFE ASSURANCE Co boosted its stake in AMETEK by 9.3% during the 1st quarter. CANADA LIFE ASSURANCE Co now owns 132,853 shares of the technology company’s stock valued at $24,301,000 after purchasing an additional 11,327 shares during the period. 87.43% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other news, Director Steven W. Kohlhagen sold 1,460 shares of the business’s stock in a transaction that occurred on Wednesday, September 25th. The shares were sold at an average price of $171.59, for a total transaction of $250,521.40. Following the sale, the director now owns 23,349 shares in the company, valued at $4,006,454.91. The trade was a 5.88 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider David F. Hermance sold 6,243 shares of the business’s stock in a transaction that occurred on Friday, November 8th. The shares were sold at an average price of $190.99, for a total transaction of $1,192,350.57. Following the sale, the insider now owns 36,731 shares in the company, valued at $7,015,253.69. This represents a 14.53 % decrease in their position. The disclosure for this sale can be found here. Insiders own 0.61% of the company’s stock.

AMETEK Stock Down 0.3 %

AME stock opened at $193.10 on Monday. AMETEK, Inc. has a 52 week low of $149.03 and a 52 week high of $196.70. The company has a market capitalization of $44.67 billion, a price-to-earnings ratio of 33.64, a price-to-earnings-growth ratio of 3.15 and a beta of 1.16. The firm’s 50-day moving average is $173.59 and its two-hundred day moving average is $169.76. The company has a current ratio of 1.39, a quick ratio of 0.84 and a debt-to-equity ratio of 0.18.

AMETEK (NYSE:AME) last released its earnings results on Thursday, October 31st. The technology company reported $1.66 EPS for the quarter, topping analysts’ consensus estimates of $1.62 by $0.04. AMETEK had a net margin of 19.27% and a return on equity of 16.88%. The business had revenue of $1.71 billion for the quarter, compared to the consensus estimate of $1.71 billion. During the same period in the previous year, the firm earned $1.64 EPS. The business’s revenue for the quarter was up 5.3% on a year-over-year basis. On average, analysts forecast that AMETEK, Inc. will post 6.81 earnings per share for the current fiscal year.

AMETEK Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, December 20th. Investors of record on Friday, December 6th will be issued a $0.28 dividend. The ex-dividend date of this dividend is Friday, December 6th. This represents a $1.12 dividend on an annualized basis and a dividend yield of 0.58%. AMETEK’s payout ratio is currently 19.51%.

Analyst Ratings Changes

A number of research analysts have issued reports on the stock. StockNews.com lowered shares of AMETEK from a “buy” rating to a “hold” rating in a research note on Friday. Wolfe Research raised shares of AMETEK to a “hold” rating in a research note on Wednesday, September 18th. TD Cowen lowered shares of AMETEK from a “hold” rating to a “sell” rating in a research note on Monday, October 7th. Mizuho boosted their target price on shares of AMETEK from $190.00 to $200.00 and gave the company an “outperform” rating in a research note on Friday, November 1st. Finally, Robert W. Baird boosted their target price on shares of AMETEK from $166.00 to $186.00 and gave the company a “neutral” rating in a research note on Monday, November 4th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating, five have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, AMETEK presently has an average rating of “Moderate Buy” and an average target price of $197.86.

AMETEK Company 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.