Haverford Trust Co. lessened its holdings in AMETEK, Inc. (NYSE:AME) by 32.9% during the 3rd quarter, Holdings Channel.com reports. The firm owned 3,048 shares of the technology company’s stock after selling 1,492 shares during the period. Haverford Trust Co.’s holdings in AMETEK were worth $280,000 as of its most recent filing with the Securities & Exchange Commission.
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Several other large investors have also modified their holdings of AME. NumerixS Investment Technologies Inc bought a new position in shares of AMETEK in the 2nd quarter worth approximately $27,000. Shine Investment Advisory Services Inc. lifted its stake in shares of AMETEK by 67.8% in 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 period. Capital Bank & Trust Co bought a new position in shares of AMETEK in the 2nd quarter worth approximately $29,000. Berman Capital Advisors LLC lifted its stake in shares of AMETEK by 51.3% in the 2nd quarter. Berman Capital Advisors LLC now owns 454 shares of the technology company’s stock worth $41,000 after purchasing an additional 154 shares during the period. Finally, Ibex Wealth Advisors bought a new position in shares of AMETEK in the 2nd quarter worth approximately $52,000. Hedge funds and other institutional investors own 86.51% of the company’s stock.
AME traded up $0.34 during trading on Friday, reaching $96.54. 598,028 shares of the company traded hands, compared to its average volume of 1,194,337. The company has a debt-to-equity ratio of 0.46, a quick ratio of 1.48 and a current ratio of 2.05. AMETEK, Inc. has a 12-month low of $63.14 and a 12-month high of $97.30. The firm has a fifty day simple moving average of $90.22 and a 200 day simple moving average of $87.83. The company has a market cap of $22.00 billion, a P/E ratio of 29.34, a PEG ratio of 2.13 and a beta of 1.20.
AMETEK (NYSE:AME) last announced its quarterly earnings data on Thursday, October 31st. The technology company reported $1.06 earnings per share (EPS) 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 last year, the firm posted $0.91 EPS. The company’s revenue was up 7.0% on a year-over-year basis. As a group, sell-side analysts expect that AMETEK, Inc. will post 4.14 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 20th. Shareholders of record on Friday, December 6th will be issued a dividend of $0.14 per share. This represents a $0.56 dividend on an annualized basis and a yield of 0.58%. AMETEK’s dividend payout ratio (DPR) is currently 17.02%.
In other AMETEK news, Director Elizebeth R. Varet sold 1,000 shares of the stock in a transaction that occurred on Friday, November 8th. The shares were sold at an average price of $96.50, for a total transaction of $96,500.00. Following the completion of the sale, the director now directly owns 89,670 shares of the company’s stock, valued at approximately $8,653,155. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Tony J. Ciampitti sold 9,534 shares of the stock in a transaction that occurred on Thursday, November 7th. The shares were sold at an average price of $97.14, for a total transaction of $926,132.76. Following the sale, the insider now directly owns 42,979 shares of the company’s stock, valued at $4,174,980.06. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 38,560 shares of company stock valued at $3,659,482. Insiders own 0.80% of the company’s stock.
Several equities analysts have recently weighed in on AME shares. Rosenblatt Securities initiated coverage on shares of AMETEK in a research note on Thursday. They issued a “buy” rating and a $115.00 price objective on the stock. Royal Bank of Canada set a $95.00 target price on shares of AMETEK and gave the stock a “buy” rating in a research note on Wednesday, July 31st. Wolfe Research set a $100.00 target price on shares of AMETEK and gave the stock a “buy” rating in a research note on Friday, November 1st. Oppenheimer raised their target price on shares of AMETEK from $94.00 to $100.00 and gave the stock an “outperform” rating in a research note on Wednesday, July 31st. Finally, ValuEngine upgraded shares of AMETEK from a “sell” rating to a “hold” rating in a research note on Friday, November 1st. Two investment analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and an average target price of $97.62.
AMETEK Company Profile
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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