IndexIQ Advisors LLC Sells 338 Shares of AMETEK, Inc. (NYSE:AME)

IndexIQ Advisors LLC lessened its holdings in AMETEK, Inc. (NYSE:AME) by 1.5% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 22,298 shares of the technology company’s stock after selling 338 shares during the quarter. IndexIQ Advisors LLC’s holdings in AMETEK were worth $2,765,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also modified their holdings of AME. Parisi Gray Wealth Management acquired a new position in AMETEK during the second quarter valued at approximately $26,000. NEXT Financial Group Inc boosted its stake in AMETEK by 154.3% in the 3rd quarter. NEXT Financial Group Inc now owns 417 shares of the technology company’s stock worth $52,000 after purchasing an additional 253 shares during the period. Evermay Wealth Management LLC acquired a new position in AMETEK in the 2nd quarter worth $61,000. PFG Private Wealth Management LLC acquired a new position in AMETEK in the 3rd quarter worth $73,000. Finally, Koshinski Asset Management Inc. acquired a new position in shares of AMETEK during the 3rd quarter worth about $90,000. 85.67% of the stock is currently owned by institutional investors.

A number of equities analysts have recently commented on the stock. Royal Bank of Canada increased their price objective on shares of AMETEK from $160.00 to $164.00 and gave the stock an “outperform” rating in a research note on Wednesday, November 3rd. Loop Capital assumed coverage on shares of AMETEK in a research note on Monday, November 22nd. They set a “buy” rating and a $75.00 price objective for the company. Zacks Investment Research upgraded shares of AMETEK from a “hold” rating to a “buy” rating and set a $146.00 price objective for the company in a research note on Monday, December 6th. Wolfe Research upgraded shares of AMETEK from a “peer perform” rating to an “outperform” rating and increased their price objective for the stock from $162.00 to $166.00 in a research note on Monday, December 13th. They noted that the move was a valuation call. Finally, Morgan Stanley reduced their price objective on shares of AMETEK from $159.00 to $158.00 and set an “overweight” rating for the company in a research note on Friday. One investment analyst has rated the stock with a hold rating and ten have given a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Buy” and an average price target of $152.00.

AMETEK stock opened at $141.54 on Friday. The stock has a market cap of $32.74 billion, a P/E ratio of 35.47, a P/E/G ratio of 2.58 and a beta of 1.31. The company has a quick ratio of 0.81, a current ratio of 1.26 and a debt-to-equity ratio of 0.34. AMETEK, Inc. has a twelve month low of $106.96 and a twelve month high of $148.07. The company’s 50-day moving average price is $141.85 and its two-hundred day moving average price is $136.21.

AMETEK (NYSE:AME) last released its quarterly earnings results on Tuesday, November 2nd. The technology company reported $1.26 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.18 by $0.08. The firm had revenue of $1.44 billion for the quarter, compared to analysts’ expectations of $1.41 billion. AMETEK had a net margin of 17.73% and a return on equity of 17.01%. During the same period in the prior year, the firm earned $1.01 EPS. Equities analysts anticipate that AMETEK, Inc. will post 4.79 earnings per share for the current fiscal year.

The firm also recently announced a quarterly dividend, which was paid on Friday, December 24th. Stockholders of record on Wednesday, December 8th were issued a dividend of $0.20 per share. The ex-dividend date was Tuesday, December 7th. This represents a $0.80 annualized dividend and a dividend yield of 0.57%. AMETEK’s dividend payout ratio is presently 20.05%.

In other news, Director Steven W. Kohlhagen sold 1,500 shares of the firm’s stock in a transaction that occurred on Wednesday, December 1st. The shares were sold at an average price of $139.29, for a total transaction of $208,935.00. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CFO William Joseph Burke sold 22,480 shares of the firm’s stock in a transaction that occurred on Wednesday, November 3rd. The stock was sold at an average price of $140.04, for a total transaction of $3,148,099.20. The disclosure for this sale can be found here. Insiders have sold 157,602 shares of company stock worth $22,038,216 over the last ninety days. Insiders own 0.70% of the company’s stock.

AMETEK Company Profile

AMETEK, Inc engages in the manufacture of electronic instruments and electromechanical devices. It operates through the following two segments: Electronic Instruments and Electromechanical. The Electronic Instruments segment designs and manufactures advanced instruments for the process, aerospace, power and industrial markets.

Read More: Cost of Equity For A Business, Investors

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Institutional Ownership by Quarter for AMETEK (NYSE:AME)

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