AMETEK, Inc. (NYSE:AME) Stock Position Lifted by Sandbar Asset Management LLP

Sandbar Asset Management LLP boosted its stake in AMETEK, Inc. (NYSE:AME) by 12.5% in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 8,019 shares of the technology company’s stock after buying an additional 890 shares during the quarter. AMETEK makes up about 3.6% of Sandbar Asset Management LLP’s holdings, making the stock its 9th biggest position. Sandbar Asset Management LLP’s holdings in AMETEK were worth $1,298,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors also recently modified their holdings of the stock. Employees Retirement System of Texas grew its position in AMETEK by 44.5% in the second quarter. Employees Retirement System of Texas now owns 302,044 shares of the technology company’s stock worth $48,895,000 after acquiring an additional 93,000 shares in the last quarter. Penserra Capital Management LLC increased its position in AMETEK by 12,333.3% during the second quarter. Penserra Capital Management LLC now owns 1,492 shares of the technology company’s stock worth $240,000 after buying an additional 1,480 shares during the last quarter. Prescott Group Capital Management L.L.C. bought a new position in AMETEK during the second quarter valued at about $971,000. Osaic Holdings Inc. lifted its position in shares of AMETEK by 11.4% in the second quarter. Osaic Holdings Inc. now owns 64,708 shares of the technology company’s stock worth $9,188,000 after buying an additional 6,622 shares during the last quarter. Finally, AMJ Financial Wealth Management increased its holdings in shares of AMETEK by 98.9% during the 2nd quarter. AMJ Financial Wealth Management now owns 4,565 shares of the technology company’s stock valued at $739,000 after acquiring an additional 2,270 shares during the last quarter. Institutional investors and hedge funds own 85.70% of the company’s stock.

Insider Activity at AMETEK

In other AMETEK news, Director Steven W. Kohlhagen sold 1,645 shares of AMETEK stock in a transaction on Thursday, September 14th. The stock was sold at an average price of $152.74, for a total transaction of $251,257.30. Following the completion of the transaction, the director now directly owns 30,264 shares of the company’s stock, valued at $4,622,523.36. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other news, Director Steven W. Kohlhagen sold 1,645 shares of the firm’s stock in a transaction that occurred on Thursday, September 14th. The shares were sold at an average price of $152.74, for a total transaction of $251,257.30. Following the completion of the sale, the director now owns 30,264 shares of the company’s stock, valued at $4,622,523.36. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Steven W. Kohlhagen sold 810 shares of AMETEK stock in a transaction that occurred on Tuesday, November 14th. The shares were sold at an average price of $155.09, for a total transaction of $125,622.90. Following the completion of the transaction, the director now owns 29,454 shares of the company’s stock, valued at approximately $4,568,020.86. The disclosure for this sale can be found here. Insiders have sold a total of 36,385 shares of company stock valued at $5,815,520 in the last 90 days. 0.72% of the stock is owned by corporate insiders.

AMETEK Stock Performance

Shares of AME stock traded up $0.51 during mid-day trading on Tuesday, reaching $155.32. The stock had a trading volume of 196,365 shares, compared to its average volume of 986,893. AMETEK, Inc. has a one year low of $131.52 and a one year high of $164.75. The firm has a market cap of $35.85 billion, a PE ratio of 28.05, a P/E/G ratio of 2.62 and a beta of 1.19. The firm’s 50 day simple moving average is $148.29 and its 200 day simple moving average is $152.33. The company has a quick ratio of 1.21, a current ratio of 1.86 and a debt-to-equity ratio of 0.22.

AMETEK (NYSE:AME) last posted its quarterly earnings results on Tuesday, October 31st. The technology company reported $1.64 earnings per share for the quarter, topping analysts’ consensus estimates of $1.58 by $0.06. AMETEK had a net margin of 19.68% and a return on equity of 18.19%. The firm had revenue of $1.62 billion for the quarter, compared to the consensus estimate of $1.66 billion. During the same quarter in the previous year, the company earned $1.45 earnings per share. The business’s revenue was up 4.6% compared to the same quarter last year. On average, analysts forecast that AMETEK, Inc. will post 6.33 EPS for the current year.

AMETEK Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, December 22nd. Shareholders of record on Friday, December 8th will be paid a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 0.64%. The ex-dividend date is Thursday, December 7th. AMETEK’s dividend payout ratio is 18.12%.

Analyst Upgrades and Downgrades

AME has been the subject of a number of recent analyst reports. Mizuho upped their target price on AMETEK from $161.00 to $166.00 and gave the stock a “buy” rating in a research report on Wednesday, August 2nd. Royal Bank of Canada lifted their target price on shares of AMETEK from $183.00 to $186.00 and gave the stock an “outperform” rating in a report on Wednesday, November 1st. Morgan Stanley upped their price target on shares of AMETEK from $162.00 to $174.00 and gave the company an “overweight” rating in a report on Wednesday, August 2nd. StockNews.com assumed coverage on AMETEK in a research note on Thursday, October 5th. They issued a “buy” rating on the stock. Finally, BNP Paribas started coverage on AMETEK in a research note on Thursday, October 5th. They set a “neutral” rating and a $159.00 target price for the company. Two equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $173.75.

AMETEK Profile

AMETEK, Inc manufactures and sells electronic instruments and electromechanical devices in North America, Europe, Asia, and South America. 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.Its EMG segment offers engineered electrical connectors and electronics packaging to protect sensitive devices and mission-critical electronics; precision motion control products for data storage, medical devices, business equipment, automation, and other applications; high-purity powdered metals, strips and foils, specialty clad metals, and metal matrix composites; motor-blower systems and heat exchangers for use in thermal management, military, commercial aircraft, and military ground vehicles; and motors for use in commercial appliances, fitness equipment, food and beverage machines, hydraulic pumps, and industrial blowers.