Roffman Miller Associates Inc. PA Increases Stake in AMETEK, Inc. (NYSE:AME)

Roffman Miller Associates Inc. PA boosted its stake in shares of AMETEK, Inc. (NYSE:AME) by 2.9% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 133,970 shares of the technology company’s stock after purchasing an additional 3,767 shares during the period. AMETEK makes up about 1.4% of Roffman Miller Associates Inc. PA’s portfolio, making the stock its 28th biggest position. Roffman Miller Associates Inc. PA’s holdings in AMETEK were worth $23,004,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also bought and sold shares of the company. State Street Corp increased its stake in shares of AMETEK by 0.3% in the third quarter. State Street Corp now owns 9,220,376 shares of the technology company’s stock worth $1,583,231,000 after acquiring an additional 24,072 shares during the period. Bank of New York Mellon Corp lifted its stake in shares of AMETEK by 34.6% in the 2nd quarter. Bank of New York Mellon Corp now owns 3,602,753 shares of the technology company’s stock valued at $600,615,000 after purchasing an additional 926,657 shares during the period. EdgePoint Investment Group Inc. boosted its holdings in AMETEK by 87.9% during the third quarter. EdgePoint Investment Group Inc. now owns 1,964,236 shares of the technology company’s stock worth $337,279,000 after buying an additional 918,737 shares in the last quarter. Dimensional Fund Advisors LP increased its holdings in AMETEK by 8.6% in the second quarter. Dimensional Fund Advisors LP now owns 1,882,166 shares of the technology company’s stock valued at $313,777,000 after buying an additional 148,447 shares in the last quarter. Finally, Principal Financial Group Inc. raised its position in shares of AMETEK by 72.0% in the third quarter. Principal Financial Group Inc. now owns 1,680,309 shares of the technology company’s stock worth $288,526,000 after acquiring an additional 703,501 shares during the period. Institutional investors and hedge funds own 87.43% of the company’s stock.

AMETEK Price Performance

Shares of NYSE AME opened at $191.54 on Monday. The stock’s 50-day simple moving average is $181.31 and its 200-day simple moving average is $172.50. The firm has a market capitalization of $44.31 billion, a PE ratio of 33.37, a price-to-earnings-growth ratio of 3.18 and a beta of 1.15. AMETEK, Inc. has a fifty-two week low of $149.03 and a fifty-two week high of $198.33. The company has a debt-to-equity ratio of 0.18, a quick ratio of 0.84 and a current ratio of 1.39.

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

AMETEK Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, December 20th. Investors of record on Friday, December 6th will be paid 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 0.58%. AMETEK’s dividend payout ratio is presently 19.51%.

Wall Street Analyst Weigh In

Several equities analysts have issued reports on AME shares. KeyCorp increased their price objective on shares of AMETEK from $205.00 to $215.00 and gave the company an “overweight” rating in a report on Friday, November 22nd. Robert W. Baird lifted their price objective on AMETEK from $166.00 to $186.00 and gave the stock a “neutral” rating in a report on Monday, November 4th. Wolfe Research raised AMETEK to a “hold” rating in a report on Wednesday, September 18th. Mizuho boosted their price target on AMETEK from $190.00 to $200.00 and gave the stock an “outperform” rating in a research report on Friday, November 1st. Finally, StockNews.com upgraded AMETEK from a “hold” rating to a “buy” rating in a report on Wednesday, December 4th. One research analyst has rated the stock with a sell rating, two have given a hold rating, six have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $199.29.

Insider Buying and Selling

In other news, insider Tony J. Ciampitti sold 16,210 shares of AMETEK stock in a transaction dated Friday, November 22nd. The shares were sold at an average price of $197.01, for a total value 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 ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider David F. Hermance sold 6,243 shares of the stock in a transaction dated Friday, November 8th. The stock was sold at an average price of $190.99, for a total transaction of $1,192,350.57. Following the transaction, the insider now directly owns 36,731 shares of the company’s stock, valued at $7,015,253.69. This represents a 14.53 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 30,660 shares of company stock worth $5,958,141 in the last 90 days. Company insiders own 0.61% of the company’s stock.

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.