Miles Capital Inc. decreased its holdings in AMETEK, Inc. (NYSE:AME) by 16.5% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 3,588 shares of the technology company’s stock after selling 708 shares during the period. Miles Capital Inc.’s holdings in AMETEK were worth $358,000 at the end of the most recent quarter.
A number of other large investors have also added to or reduced their stakes in AME. BlackRock Inc. increased its holdings in shares of 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 acquiring an additional 204,374 shares during the last quarter. Massachusetts Financial Services Co. MA raised its position in shares of AMETEK by 1.2% in the third quarter. Massachusetts Financial Services Co. MA now owns 6,610,756 shares of the technology company’s stock valued at $607,001,000 after purchasing an additional 76,480 shares during the period. Invesco Ltd. raised its position in shares of AMETEK by 34.3% in the second quarter. Invesco Ltd. now owns 1,579,503 shares of the technology company’s stock valued at $143,482,000 after purchasing an additional 403,704 shares during the period. Nuveen Asset Management LLC raised its position in shares of AMETEK by 807.9% in the second quarter. Nuveen Asset Management LLC now owns 1,423,064 shares of the technology company’s stock valued at $129,271,000 after purchasing an additional 1,266,329 shares during the period. Finally, Victory Capital Management Inc. lifted its stake in shares of AMETEK by 66.1% during the 2nd quarter. Victory Capital Management Inc. now owns 956,979 shares of the technology company’s stock worth $86,932,000 after buying an additional 380,948 shares during the last quarter. Hedge funds and other institutional investors own 85.99% of the company’s stock.
AME has been the subject of several research analyst reports. ValuEngine downgraded shares of AMETEK from a “hold” rating to a “sell” rating in a report on Tuesday, January 14th. Bank of America downgraded shares of AMETEK from a “buy” rating to a “neutral” rating and cut their price objective for the stock from $105.00 to $95.00 in a research report on Friday, October 11th. Gordon Haskett assumed coverage on AMETEK in a report on Wednesday, November 27th. They set a “buy” rating and a $125.00 price objective for the company. Wolfe Research cut AMETEK from an “outperform” rating to a “peer perform” rating in a report on Thursday, January 9th. Finally, Robert W. Baird downgraded AMETEK from an “outperform” rating to a “neutral” rating and set a $96.00 target price on the stock. in a research report on Thursday, January 16th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and eleven have given a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and a consensus price target of $102.69.
Shares of NYSE:AME traded up $0.06 on Tuesday, reaching $101.84. 15,818 shares of the company’s stock were exchanged, compared to its average volume of 778,407. The company has a fifty day moving average of $99.82 and a 200-day moving average of $92.57. AMETEK, Inc. has a twelve month low of $69.51 and a twelve month high of $102.31. The company has a market capitalization of $23.20 billion, a price-to-earnings ratio of 27.55, a PEG ratio of 2.15 and a beta of 1.23. The company has a current ratio of 2.05, a quick ratio of 1.48 and a debt-to-equity ratio of 0.46.
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, beating analysts’ consensus estimates of $1.01 by $0.05. The company had revenue of $1.28 billion during the quarter, compared to the consensus estimate of $1.28 billion. AMETEK had a net margin of 16.63% and a return on equity of 20.04%. The firm’s quarterly revenue was up 7.0% on a year-over-year basis. During the same period in the previous year, the business earned $0.91 earnings per share. As a group, equities research analysts forecast that AMETEK, Inc. will post 4.14 EPS for the current fiscal year.
In other news, CFO William Joseph Burke sold 12,510 shares of the business’s stock in a transaction that occurred on Tuesday, November 19th. The shares were sold at an average price of $98.51, for a total value of $1,232,360.10. Following the completion of the transaction, the chief financial officer now directly owns 81,526 shares in the company, valued at approximately $8,031,126.26. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Elizebeth R. Varet sold 3,000 shares of the business’s stock in a transaction that occurred on Tuesday, November 5th. The shares were sold at an average price of $96.20, for a total transaction of $288,600.00. Following the completion of the transaction, the director now owns 90,670 shares of the company’s stock, valued at $8,722,454. The disclosure for this sale can be found here. Insiders sold a total of 60,506 shares of company stock valued at $5,886,221 over the last ninety days. 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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