AMETEK, Inc. (NYSE:AME) is M.D. Sass LLC’s 9th Largest Position

M.D. Sass LLC boosted its position in shares of AMETEK, Inc. (NYSE:AME) by 39.5% in the 3rd quarter, HoldingsChannel reports. The fund owned 396,105 shares of the technology company’s stock after acquiring an additional 112,068 shares during the period. AMETEK accounts for about 5.0% of M.D. Sass LLC’s portfolio, making the stock its 9th biggest holding. M.D. Sass LLC’s holdings in AMETEK were worth $68,015,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of the stock. Family Firm Inc. purchased a new position in AMETEK during the 2nd quarter worth approximately $39,000. Industrial Alliance Investment Management Inc. acquired a new stake in shares of AMETEK in the second quarter valued at approximately $42,000. Princeton Global Asset Management LLC acquired a new position in shares of AMETEK in the 3rd quarter valued at $44,000. Crewe Advisors LLC raised its position in AMETEK by 168.8% in the 2nd quarter. Crewe Advisors LLC now owns 293 shares of the technology company’s stock valued at $49,000 after purchasing an additional 184 shares during the last quarter. Finally, First Command Advisory Services Inc. purchased a new position in AMETEK during the 2nd quarter worth $50,000. Hedge funds and other institutional investors own 87.43% of the company’s stock.

Insider Activity at AMETEK

In other news, insider Tony J. Ciampitti sold 16,210 shares of the business’s stock in a transaction on 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 completion of the transaction, 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 filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Steven W. Kohlhagen sold 1,460 shares of AMETEK stock in a transaction dated Wednesday, September 25th. The stock was sold at an average price of $171.59, for a total value of $250,521.40. Following the transaction, the director now owns 23,349 shares in the company, valued at approximately $4,006,454.91. This represents a 5.88 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 23,913 shares of company stock worth $4,636,404 over the last ninety days. Company insiders own 0.61% of the company’s stock.

AMETEK Price Performance

NYSE AME traded down $0.55 on Tuesday, hitting $196.57. 134,659 shares of the company were exchanged, compared to its average volume of 1,150,826. The company has a current ratio of 1.39, a quick ratio of 0.84 and a debt-to-equity ratio of 0.18. The company has a market cap of $45.47 billion, a P/E ratio of 34.34, a P/E/G ratio of 3.22 and a beta of 1.16. AMETEK, Inc. has a 1-year low of $149.03 and a 1-year high of $198.33. The firm has a 50 day moving average of $177.04 and a two-hundred day moving average of $170.91.

AMETEK (NYSE:AME) last posted its quarterly earnings data on Thursday, October 31st. The technology company reported $1.66 earnings per share (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 firm had revenue of $1.71 billion for the quarter, compared to the consensus estimate of $1.71 billion. During the same quarter in the prior year, the business earned $1.64 EPS. The business’s revenue for the quarter was up 5.3% compared to the same quarter last year. On average, equities analysts predict that AMETEK, Inc. will post 6.8 EPS for the current year.

AMETEK Announces Dividend

The firm 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. This represents a $1.12 dividend on an annualized basis and a dividend yield of 0.57%. The ex-dividend date of this dividend is Friday, December 6th. AMETEK’s dividend payout ratio (DPR) is 19.51%.

Analysts Set New Price Targets

Several analysts have recently commented on the company. KeyCorp raised their price target on AMETEK from $205.00 to $215.00 and gave the company an “overweight” rating in a report on Friday. Wolfe Research raised shares of AMETEK to a “hold” rating in a research report on Wednesday, September 18th. Royal Bank of Canada decreased their target price on AMETEK from $216.00 to $215.00 and set an “outperform” rating for the company in a research report on Friday, August 2nd. Mizuho raised their target price on AMETEK from $190.00 to $200.00 and gave the company an “outperform” rating in a research report on Friday, November 1st. Finally, TD Cowen lowered AMETEK from a “hold” rating to a “sell” rating in a research report on Monday, October 7th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $199.29.

About AMETEK

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.