Biltmore Wealth Management LLC lowered its stake in shares of AMETEK, Inc. (NYSE:AME) by 9.7% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 4,732 shares of the technology company’s stock after selling 508 shares during the quarter. AMETEK comprises about 0.2% of Biltmore Wealth Management LLC’s holdings, making the stock its 28th largest position. Biltmore Wealth Management LLC’s holdings in AMETEK were worth $472,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other hedge funds and other institutional investors also recently bought and sold shares of the company. Vanguard Group Inc. increased its position in AMETEK by 1.7% during the 2nd quarter. Vanguard Group Inc. now owns 24,128,928 shares of the technology company’s stock worth $2,191,872,000 after purchasing an additional 396,995 shares in the last quarter. BlackRock Inc. increased its position in AMETEK by 1.3% during the 2nd quarter. BlackRock Inc. now owns 15,418,675 shares of the technology company’s stock worth $1,400,633,000 after purchasing an additional 204,374 shares in the last quarter. Massachusetts Financial Services Co. MA increased its position in AMETEK by 1.2% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 6,610,756 shares of the technology company’s stock worth $607,001,000 after purchasing an additional 76,480 shares in the last quarter. Invesco Ltd. increased its position in AMETEK by 34.3% during the 2nd quarter. Invesco Ltd. now owns 1,579,503 shares of the technology company’s stock worth $143,482,000 after purchasing an additional 403,704 shares in the last quarter. Finally, Nuveen Asset Management LLC increased its position in AMETEK by 807.9% during the 2nd quarter. Nuveen Asset Management LLC now owns 1,423,064 shares of the technology company’s stock worth $129,271,000 after purchasing an additional 1,266,329 shares in the last quarter. 85.97% of the stock is owned by institutional investors.
A number of analysts recently issued reports on the stock. Bank of America downgraded shares of AMETEK from a “buy” rating to a “neutral” rating and dropped their target price for the stock from $105.00 to $95.00 in a research report on Friday, October 11th. Rosenblatt Securities restated a “buy” rating and issued a $115.00 price target on shares of AMETEK in a report on Thursday, January 2nd. Cowen cut AMETEK from an “outperform” rating to a “market perform” rating in a report on Monday. Morgan Stanley decreased their price target on AMETEK from $109.00 to $107.00 and set an “overweight” rating for the company in a report on Tuesday. Finally, Gordon Haskett initiated coverage on AMETEK in a report on Wednesday, November 27th. They issued a “buy” rating and a $125.00 price target for the company. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and eleven have issued a buy rating to the company. The stock presently has an average rating of “Buy” and an average target price of $102.69.
NYSE AME traded up $1.69 on Friday, reaching $101.88. The company had a trading volume of 228,542 shares, compared to its average volume of 1,029,635. The firm has a market capitalization of $23.05 billion, a PE ratio of 30.97, a P/E/G ratio of 2.12 and a beta of 1.23. AMETEK, Inc. has a 1 year low of $69.51 and a 1 year high of $102.31. The firm has a 50-day moving average of $99.61 and a 200-day moving average of $92.36. The company has a debt-to-equity ratio of 0.46, a current ratio of 2.05 and a quick ratio of 1.48.
AMETEK (NYSE:AME) last released its quarterly earnings results on Thursday, October 31st. The technology company reported $1.06 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.01 by $0.05. The firm had revenue of $1.28 billion during the quarter, compared to analysts’ expectations of $1.28 billion. AMETEK had a return on equity of 20.04% and a net margin of 16.63%. AMETEK’s quarterly revenue was up 7.0% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.91 EPS. As a group, sell-side analysts expect that AMETEK, Inc. will post 4.14 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which was paid on Friday, December 20th. Stockholders of record on Friday, December 6th were paid a dividend of $0.14 per share. This represents a $0.56 annualized dividend and a dividend yield of 0.55%. The ex-dividend date of this dividend was Thursday, December 5th. AMETEK’s dividend payout ratio (DPR) is currently 17.02%.
In other news, insider Thomas C. Marecic sold 13,990 shares of the stock in a transaction that occurred on Monday, November 4th. The stock was sold at an average price of $95.02, for a total transaction of $1,329,329.80. Following the completion of the transaction, the insider now directly owns 36,014 shares in the company, valued at approximately $3,422,050.28. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Ruby R. Chandy sold 3,376 shares of the stock in a transaction that occurred on Friday, December 27th. The shares were sold at an average price of $99.98, for a total value of $337,532.48. Following the transaction, the director now owns 16,920 shares of the company’s stock, valued at $1,691,661.60. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 60,506 shares of company stock valued at $5,886,221. Company insiders own 0.80% of the company’s stock.
AMETEK, Inc manufactures and sells electronic instruments and electromechanical devices worldwide. The company's Electronic Instruments segment offers advanced instruments for the process, aerospace, power, and industrial markets; process control instruments for the oil and gas, petrochemical, pharmaceutical, semiconductor, automation, and food and beverage industries; and instruments to the laboratory equipment, ultra-precision manufacturing, medical, and test and measurement markets.
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