AMETEK, Inc. (NYSE:AME) Holdings Trimmed by Private Trust Co. NA

Private Trust Co. NA lowered its position in shares of AMETEK, Inc. (NYSE:AME – Get Rating) by 33.5% in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 9,196 shares of the technology company’s stock after selling 4,625 shares during the quarter. Private Trust Co. NA’s holdings in AMETEK were worth $1,225,000 at the end of the most recent quarter.

Other hedge funds have also recently made changes to their positions in the company. CVA Family Office LLC acquired a new position in shares of AMETEK in the 4th quarter valued at $25,000. Icapital Wealth LLC acquired a new position in shares of AMETEK in the 1st quarter valued at $32,000. Industrial Alliance Investment Management Inc. acquired a new position in shares of AMETEK in the 4th quarter valued at $35,000. Intelligent Financial Strategies acquired a new position in shares of AMETEK in the 4th quarter valued at $35,000. Finally, Consolidated Planning Corp acquired a new position in shares of AMETEK in the 3rd quarter valued at $38,000. 86.72% of the stock is owned by institutional investors and hedge funds.

In other news, Director Thomas A. Amato sold 615 shares of AMETEK stock in a transaction that occurred on Monday, March 28th. The stock was sold at an average price of $133.03, for a total transaction of $81,813.45. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Anthony James Conti sold 5,160 shares of AMETEK stock in a transaction that occurred on Friday, March 25th. The stock was sold at an average price of $133.37, for a total value of $688,189.20. The disclosure for this sale can be found here. Company insiders own 0.72% of the company’s stock.

A number of equities analysts recently weighed in on the company. StockNews.com assumed coverage on AMETEK in a research report on Thursday, March 31st. They issued a “hold” rating for the company. Robert W. Baird reduced their price objective on AMETEK from $156.00 to $140.00 and set a “neutral” rating for the company in a research note on Tuesday, May 10th. KeyCorp reduced their price objective on AMETEK from $155.00 to $145.00 in a research note on Wednesday, May 4th. Finally, Morgan Stanley reduced their price objective on AMETEK from $144.00 to $135.00 and set an “overweight” rating for the company in a research note on Tuesday, May 31st. Two investment analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $146.56.

Shares of AME stock opened at $108.51 on Thursday. The stock’s 50 day simple moving average is $120.84 and its 200 day simple moving average is $130.67. The company has a debt-to-equity ratio of 0.32, a quick ratio of 0.88 and a current ratio of 1.43. AMETEK, Inc. has a twelve month low of $106.17 and a twelve month high of $148.07. The company has a market capitalization of $25.06 billion, a price-to-earnings ratio of 24.22, a PEG ratio of 2.12 and a beta of 1.27.

AMETEK (NYSE:AME – Get Rating) last issued its quarterly earnings data on Tuesday, May 3rd. The technology company reported $1.33 earnings per share for the quarter, beating analysts’ consensus estimates of $1.27 by $0.06. AMETEK had a return on equity of 17.82% and a net margin of 18.02%. The business had revenue of $1.46 billion for the quarter, compared to the consensus estimate of $1.46 billion. During the same period last year, the business earned $1.07 EPS. The firm’s revenue was up 20.0% compared to the same quarter last year. On average, analysts forecast that AMETEK, Inc. will post 5.44 EPS for the current fiscal year.

AMETEK announced that its Board of Directors has authorized a stock buyback program on Friday, May 6th that permits the company to buyback $1.00 billion in outstanding shares. This buyback authorization permits the technology company to buy up to 3.6% of its shares through open market purchases. Shares buyback programs are often a sign that the company’s management believes its shares are undervalued.

The firm also recently announced a quarterly dividend, which will be paid on Thursday, June 30th. Shareholders of record on Friday, June 10th will be issued a $0.22 dividend. This represents a $0.88 dividend on an annualized basis and a yield of 0.81%. The ex-dividend date of this dividend is Thursday, June 9th. AMETEK’s dividend payout ratio (DPR) is currently 19.64%.

About AMETEK (Get Rating)

AMETEK, Inc manufactures and sells electronic instruments and electromechanical devices worldwide. It operates in two segments, Electronic Instruments (EIG) and Electromechanical (EMG). 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; and instruments to the laboratory equipment, ultra-precision manufacturing, medical, and test and measurement markets.

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