Commonwealth Equity Services LLC increased its position in shares of AMETEK, Inc. (NYSE:AME) by 0.9% during the 3rd quarter, HoldingsChannel.com reports. The fund owned 13,097 shares of the technology company’s stock after purchasing an additional 121 shares during the period. Commonwealth Equity Services LLC’s holdings in AMETEK were worth $1,202,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors have also recently bought and sold shares of AME. NumerixS Investment Technologies Inc bought a new position in AMETEK in the 2nd quarter valued at approximately $27,000. Shine Investment Advisory Services Inc. lifted its stake in AMETEK by 67.8% in the 3rd quarter. Shine Investment Advisory Services Inc. now owns 302 shares of the technology company’s stock valued at $28,000 after purchasing an additional 122 shares during the last quarter. Capital Bank & Trust Co bought a new position in AMETEK in the 2nd quarter valued at approximately $29,000. Berman Capital Advisors LLC lifted its stake in AMETEK by 51.3% in the 2nd quarter. Berman Capital Advisors LLC now owns 454 shares of the technology company’s stock valued at $41,000 after purchasing an additional 154 shares during the last quarter. Finally, Ibex Wealth Advisors bought a new position in AMETEK in the 2nd quarter valued at approximately $52,000. Institutional investors and hedge funds own 86.34% of the company’s stock.
In other news, Director Elizebeth R. Varet sold 4,000 shares of the stock in a transaction on Thursday, August 29th. The shares were sold at an average price of $85.69, for a total transaction of $342,760.00. Following the completion of the sale, the director now directly owns 95,670 shares in the company, valued at $8,197,962.30. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, Director Elizebeth R. Varet sold 1,000 shares of the stock in a transaction on Friday, November 8th. The stock was sold at an average price of $96.50, for a total transaction of $96,500.00. Following the sale, the director now owns 89,670 shares of the company’s stock, valued at $8,653,155. The disclosure for this sale can be found here. Insiders have sold 38,560 shares of company stock valued at $3,659,482 in the last ninety days. Insiders own 0.80% of the company’s stock.
AMETEK (NYSE:AME) last released its quarterly earnings results on Thursday, October 31st. The technology company reported $1.06 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.01 by $0.05. The firm had revenue of $1.28 billion during 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% on a year-over-year basis. During the same quarter last year, the firm earned $0.91 earnings per share. As a group, sell-side analysts forecast that AMETEK, Inc. will post 4.14 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, December 20th. Stockholders of record on Friday, December 6th will be paid a dividend of $0.14 per share. This represents a $0.56 annualized dividend and a dividend yield of 0.58%. The ex-dividend date of this dividend is Thursday, December 5th. AMETEK’s payout ratio is currently 17.02%.
Several equities analysts recently commented on AME shares. Royal Bank of Canada set a $95.00 price objective on shares of AMETEK and gave the company a “buy” rating in a research note on Wednesday, July 31st. ValuEngine raised shares of AMETEK from a “sell” rating to a “hold” rating in a research note on Friday, November 1st. KeyCorp increased their price objective on shares of AMETEK from $94.00 to $100.00 in a research note on Wednesday, July 31st. Oppenheimer increased their price objective on shares of AMETEK from $94.00 to $100.00 and gave the company an “outperform” rating in a research note on Wednesday, July 31st. Finally, Morgan Stanley set a $102.00 price objective on shares of AMETEK and gave the company a “buy” rating in a research note on Friday, November 1st. Two equities research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. The company currently has a consensus rating of “Buy” and a consensus target price of $97.62.
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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