Zurcher Kantonalbank Zurich Cantonalbank lowered its stake in shares of AMETEK, Inc. (NYSE:AME) by 4.6% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 95,328 shares of the technology company’s stock after selling 4,638 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in AMETEK were worth $9,508,000 at the end of the most recent quarter.
Other hedge funds also recently modified their holdings of the company. NumerixS Investment Technologies Inc purchased a new stake in shares of AMETEK during the 2nd quarter worth approximately $27,000. Shine Investment Advisory Services Inc. increased its stake in shares of AMETEK by 67.8% during the 3rd quarter. Shine Investment Advisory Services Inc. now owns 302 shares of the technology company’s stock worth $28,000 after purchasing an additional 122 shares during the last quarter. Price Capital Management Inc. purchased a new stake in shares of AMETEK during the 4th quarter worth approximately $50,000. Parallel Advisors LLC increased its stake in shares of AMETEK by 30.7% during the 3rd quarter. Parallel Advisors LLC now owns 596 shares of the technology company’s stock worth $55,000 after purchasing an additional 140 shares during the last quarter. Finally, CSat Investment Advisory L.P. increased its stake in shares of AMETEK by 197.6% during the 2nd quarter. CSat Investment Advisory L.P. now owns 613 shares of the technology company’s stock worth $56,000 after purchasing an additional 407 shares during the last quarter. Institutional investors own 85.99% of the company’s stock.
Several brokerages have recently issued reports on AME. Bank of America lowered shares of AMETEK from a “buy” rating to a “neutral” rating and decreased their price target for the stock from $105.00 to $95.00 in a research note on Friday, October 11th. Morgan Stanley reduced their price objective on shares of AMETEK from $109.00 to $107.00 and set an “overweight” rating for the company in a research note on Tuesday, January 14th. Wolfe Research lowered shares of AMETEK from an “outperform” rating to a “peer perform” rating in a research note on Thursday, January 9th. Rosenblatt Securities reiterated a “buy” rating and issued a $115.00 price objective on shares of AMETEK in a research note on Thursday, January 2nd. Finally, KeyCorp lifted their price objective on shares of AMETEK from $100.00 to $110.00 and gave the company an “overweight” rating in a research note on Tuesday, November 19th. One analyst has rated the stock with a sell rating, three have issued a hold rating and eleven have given a buy rating to the company. The stock currently has a consensus rating of “Buy” and an average target price of $102.69.
AMETEK (NYSE:AME) last released its quarterly earnings data on Thursday, October 31st. The technology company reported $1.06 earnings per share for the quarter, beating analysts’ consensus estimates of $1.01 by $0.05. AMETEK had a net margin of 16.63% and a return on equity of 20.04%. The business had revenue of $1.28 billion during the quarter, compared to analyst estimates of $1.28 billion. During the same period in the previous year, the business earned $0.91 EPS. AMETEK’s revenue was up 7.0% compared to the same quarter last year. On average, equities research analysts forecast that AMETEK, Inc. will post 4.14 EPS for the current year.
In other news, insider Ronald J. Oscher sold 5,000 shares of the business’s stock in a transaction on Friday, December 20th. The shares were sold at an average price of $99.73, for a total transaction of $498,650.00. Following the completion of the transaction, the insider now directly owns 31,329 shares in the company, valued at approximately $3,124,441.17. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Ruby R. Chandy sold 3,376 shares of the business’s stock in a transaction on Friday, December 27th. The shares were sold at an average price of $99.98, for a total transaction of $337,532.48. Following the transaction, the director now owns 16,920 shares of the company’s stock, valued at $1,691,661.60. The disclosure for this sale can be found here. Insiders have sold a total of 60,506 shares of company stock valued at $5,886,221 over the last 90 days. Company 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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