AMETEK, Inc. (AME) Position Trimmed by Algert Global LLC

Algert Global LLC decreased its holdings in shares of AMETEK, Inc. (NYSE:AME) by 2.7% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 47,660 shares of the technology company’s stock after selling 1,303 shares during the quarter. AMETEK makes up approximately 0.9% of Algert Global LLC’s portfolio, making the stock its 17th biggest position. Algert Global LLC’s holdings in AMETEK were worth $3,227,000 as of its most recent SEC filing.

A number of other hedge funds have also bought and sold shares of the stock. Vanguard Group Inc. lifted its stake in AMETEK by 0.6% during the third quarter. Vanguard Group Inc. now owns 23,495,237 shares of the technology company’s stock worth $1,858,943,000 after purchasing an additional 137,102 shares during the last quarter. Vanguard Group Inc lifted its stake in AMETEK by 0.6% during the third quarter. Vanguard Group Inc now owns 23,495,237 shares of the technology company’s stock worth $1,858,943,000 after purchasing an additional 137,102 shares during the last quarter. FMR LLC lifted its stake in AMETEK by 4.3% during the third quarter. FMR LLC now owns 8,902,761 shares of the technology company’s stock worth $704,386,000 after purchasing an additional 366,654 shares during the last quarter. Massachusetts Financial Services Co. MA lifted its stake in AMETEK by 1.5% during the third quarter. Massachusetts Financial Services Co. MA now owns 5,530,241 shares of the technology company’s stock worth $437,553,000 after purchasing an additional 82,638 shares during the last quarter. Finally, American Century Companies Inc. lifted its stake in AMETEK by 10.4% during the third quarter. American Century Companies Inc. now owns 4,237,926 shares of the technology company’s stock worth $335,305,000 after purchasing an additional 400,177 shares during the last quarter. Hedge funds and other institutional investors own 84.33% of the company’s stock.

Several equities research analysts recently weighed in on AME shares. Morgan Stanley upgraded AMETEK from an “equal weight” rating to an “overweight” rating and boosted their target price for the stock from $81.00 to $85.00 in a research note on Tuesday, December 18th. Wolfe Research upgraded AMETEK from a “market perform” rating to an “outperform” rating in a research note on Tuesday, January 8th. Stephens reiterated a “buy” rating and issued a $79.00 price objective on shares of AMETEK in a research note on Sunday, January 6th. BMO Capital Markets reduced their price objective on AMETEK from $93.00 to $91.00 and set an “outperform” rating for the company in a research note on Friday, November 2nd. Finally, Royal Bank of Canada reiterated a “buy” rating and issued a $82.00 price objective on shares of AMETEK in a research note on Wednesday, December 19th. One equities research analyst has rated the stock with a hold rating and eleven have assigned a buy rating to the company. The stock presently has a consensus rating of “Buy” and a consensus target price of $86.20.

Shares of NYSE AME opened at $74.90 on Wednesday. The company has a debt-to-equity ratio of 0.41, a current ratio of 2.06 and a quick ratio of 1.42. AMETEK, Inc. has a twelve month low of $63.14 and a twelve month high of $81.92. The company has a market capitalization of $17.04 billion, a price-to-earnings ratio of 28.70, a PEG ratio of 1.82 and a beta of 1.20.

AMETEK (NYSE:AME) last issued its quarterly earnings data on Tuesday, February 5th. The technology company reported $0.86 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.84 by $0.02. AMETEK had a return on equity of 17.08% and a net margin of 17.06%. The company had revenue of $1.27 billion during the quarter, compared to analysts’ expectations of $1.26 billion. During the same quarter in the previous year, the business earned $0.70 earnings per share. The firm’s revenue for the quarter was up 11.1% on a year-over-year basis. As a group, sell-side analysts anticipate that AMETEK, Inc. will post 3.27 earnings per share for the current year.

In other news, Director Thomas A. Amato acquired 2,000 shares of AMETEK stock in a transaction on Monday, November 12th. The stock was bought at an average price of $73.14 per share, for a total transaction of $146,280.00. Following the completion of the purchase, the director now owns 7,510 shares in the company, valued at $549,281.40. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 2.00% of the stock is currently owned by insiders.

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AMETEK Company Profile

AMETEK, Inc manufactures and sells electronic instruments and electromechanical devices worldwide. Its Electronic Instruments Group segment offers advanced instruments for the process, power and industrial, and aerospace markets; process and analytical instruments for the oil, gas, petrochemical, pharmaceutical, semiconductor, automation, and food and beverage markets; and instruments for the laboratory equipment, ultraprecision manufacturing, medical, and test and measurement markets.

Further Reading: What is a good rate of return for a mutual fund?

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Institutional Ownership by Quarter for AMETEK (NYSE:AME)

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