Fmr LLC Reduces Stock Holdings in AMETEK, Inc. (NYSE:AME)

Fmr LLC reduced its stake in shares of AMETEK, Inc. (NYSE:AME) by 2.9% during the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 8,857,783 shares of the technology company’s stock after selling 260,617 shares during the period. Fmr LLC’s holdings in AMETEK were worth $1,520,970,000 as of its most recent SEC filing.

Several other hedge funds have also modified their holdings of the stock. EverSource Wealth Advisors LLC raised its holdings in shares of AMETEK by 7.3% during the 1st quarter. EverSource Wealth Advisors LLC now owns 899 shares of the technology company’s stock valued at $157,000 after buying an additional 61 shares during the period. MorganRosel Wealth Management LLC raised its holdings in shares of AMETEK by 1.6% during the 2nd quarter. MorganRosel Wealth Management LLC now owns 3,886 shares of the technology company’s stock valued at $648,000 after buying an additional 61 shares during the period. Commerzbank Aktiengesellschaft FI grew its stake in AMETEK by 4.8% during the 2nd quarter. Commerzbank Aktiengesellschaft FI now owns 1,340 shares of the technology company’s stock valued at $224,000 after purchasing an additional 61 shares in the last quarter. First Horizon Advisors Inc. grew its stake in AMETEK by 2.4% during the 2nd quarter. First Horizon Advisors Inc. now owns 2,639 shares of the technology company’s stock valued at $440,000 after purchasing an additional 62 shares in the last quarter. Finally, Checchi Capital Advisers LLC grew its stake in AMETEK by 2.9% during the 2nd quarter. Checchi Capital Advisers LLC now owns 2,225 shares of the technology company’s stock valued at $371,000 after purchasing an additional 63 shares in the last quarter. 87.43% of the stock is currently owned by hedge funds and other institutional investors.

AMETEK Price Performance

Shares of AME opened at $197.13 on Wednesday. The firm has a market cap of $45.60 billion, a price-to-earnings ratio of 34.34, a PEG ratio of 3.22 and a beta of 1.16. The stock has a 50 day moving average of $177.61 and a 200-day moving average of $171.09. The company has a current ratio of 1.39, a quick ratio of 0.84 and a debt-to-equity ratio of 0.18. AMETEK, Inc. has a 52 week low of $149.03 and a 52 week high of $198.33.

AMETEK (NYSE:AME) last issued its earnings results on Thursday, October 31st. The technology company reported $1.66 EPS for the quarter, topping the consensus estimate of $1.62 by $0.04. AMETEK had a return on equity of 16.88% and a net margin of 19.27%. The company had revenue of $1.71 billion during the quarter, compared to analyst estimates of $1.71 billion. During the same quarter last year, the firm earned $1.64 EPS. The business’s revenue was up 5.3% on a year-over-year basis. As a group, analysts forecast that AMETEK, Inc. will post 6.8 EPS for the current year.

AMETEK Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 20th. Investors of record on Friday, December 6th will be given a dividend of $0.28 per share. The ex-dividend date is Friday, December 6th. This represents a $1.12 dividend on an annualized basis and a yield of 0.57%. AMETEK’s dividend payout ratio is currently 19.51%.

Wall Street Analysts Forecast Growth

AME has been the subject of a number of recent analyst reports. TD Cowen lowered AMETEK from a “hold” rating to a “sell” rating in a research note on Monday, October 7th. Wolfe Research upgraded AMETEK to a “hold” rating in a research note on Wednesday, September 18th. Robert W. Baird raised their price objective on AMETEK from $166.00 to $186.00 and gave the company a “neutral” rating in a research note on Monday, November 4th. StockNews.com lowered AMETEK from a “buy” rating to a “hold” rating in a research note on Friday, November 15th. Finally, Royal Bank of Canada lowered their price objective on AMETEK from $216.00 to $215.00 and set an “outperform” rating for the company in a research note on Friday, August 2nd. One investment analyst has rated the stock with a sell rating, three have given a hold rating, five have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $199.29.

Insider Activity at AMETEK

In other AMETEK news, insider Tony J. Ciampitti sold 16,210 shares of AMETEK stock in a transaction on Friday, November 22nd. The stock was sold at an average price of $197.01, for a total transaction of $3,193,532.10. Following the sale, the insider now owns 49,490 shares of the company’s stock, valued at $9,750,024.90. The trade was a 24.67 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider David F. Hermance sold 6,243 shares of AMETEK stock in a transaction on Friday, November 8th. The shares were sold at an average price of $190.99, for a total value of $1,192,350.57. Following the sale, the insider now directly owns 36,731 shares in the company, valued at $7,015,253.69. The trade was a 14.53 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 23,913 shares of company stock worth $4,636,404 in the last 90 days. 0.61% of the stock is currently owned by company insiders.

AMETEK Profile

AMETEK, Inc manufactures and sells electronic instruments and electromechanical devices in the North America, Europe, Asia, and South America, and internationally. 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; instruments to the laboratory equipment, ultra-precision manufacturing, medical, and test and measurement markets; power quality monitoring and c devices, uninterruptible power supplies, programmable power and electromagnetic compatibility test equipment, and sensors for gas turbines and dashboard instruments; heavy trucks, instrumentation, and controls for the food and beverage industries; and aircraft and engine sensors, power supplies, embedded computing, monitoring, fuel and fluid measurement, and data acquisition systems for aerospace and defense industry.