Metis Global Partners LLC Increases Stock Position in AMETEK, Inc. (NYSE:AME)

Metis Global Partners LLC grew its position in shares of AMETEK, Inc. (NYSE:AME) by 7.9% in the third quarter, HoldingsChannel reports. The firm owned 18,168 shares of the technology company’s stock after buying an additional 1,324 shares during the quarter. Metis Global Partners LLC’s holdings in AMETEK were worth $3,120,000 at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. JPMorgan Chase & Co. grew its holdings in shares of AMETEK by 48.4% in the first quarter. JPMorgan Chase & Co. now owns 7,075,565 shares of the technology company’s stock valued at $1,294,121,000 after purchasing an additional 2,306,535 shares in the last quarter. Bank of New York Mellon Corp lifted its position in AMETEK by 34.6% during the second 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 last quarter. Meridiem Investment Management Ltd. purchased a new position in shares of AMETEK in the 3rd quarter worth $130,579,000. Principal Financial Group Inc. increased its holdings in shares of AMETEK by 72.0% in the 3rd quarter. Principal Financial Group Inc. now owns 1,680,309 shares of the technology company’s stock worth $288,526,000 after buying an additional 703,501 shares during the last quarter. Finally, James Hambro & Partners LLP purchased a new stake in shares of AMETEK during the 3rd quarter valued at about $60,188,000. 87.43% of the stock is owned by institutional investors.

Insiders Place Their Bets

In related news, insider David F. Hermance sold 6,243 shares of AMETEK stock in a transaction that occurred on Friday, November 8th. The shares were 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 trade represents a 14.53 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, Director Steven W. Kohlhagen sold 1,460 shares of the business’s stock in a transaction that occurred on Wednesday, September 25th. The stock was sold at an average price of $171.59, for a total transaction of $250,521.40. Following the completion of the transaction, the director now directly owns 23,349 shares of the company’s stock, valued at $4,006,454.91. This trade represents a 5.88 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.61% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms recently commented on AME. Robert W. Baird lifted their price target on AMETEK from $166.00 to $186.00 and gave the stock a “neutral” rating in a research report on Monday, November 4th. StockNews.com upgraded AMETEK from a “hold” rating to a “buy” rating in a report on Monday, November 4th. Royal Bank of Canada dropped their price objective on shares of AMETEK from $216.00 to $215.00 and set an “outperform” rating for the company in a research note on Friday, August 2nd. TD Cowen downgraded shares of AMETEK from a “hold” rating to a “sell” rating in a research note on Monday, October 7th. Finally, Mizuho lifted their price target on shares of AMETEK from $190.00 to $200.00 and gave the stock an “outperform” rating in a research note on Friday, November 1st. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $197.86.

AMETEK Stock Down 0.8 %

Shares of AME opened at $193.85 on Friday. The firm has a market capitalization of $44.84 billion, a P/E ratio of 33.77, a P/E/G ratio of 3.17 and a beta of 1.16. AMETEK, Inc. has a 12-month low of $149.03 and a 12-month high of $196.70. The firm has a fifty day moving average price of $172.43 and a 200-day moving average price of $169.55. 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 (NYSE:AME) last issued its earnings results on Thursday, October 31st. The technology company reported $1.66 EPS for the quarter, topping analysts’ consensus estimates 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 for the quarter, compared to the consensus estimate of $1.71 billion. During the same period in the prior year, the firm earned $1.64 EPS. The company’s revenue for the quarter was up 5.3% compared to the same quarter last year. Equities research analysts expect that AMETEK, Inc. will post 6.81 earnings per share for the current year.

AMETEK Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, December 20th. Shareholders of record on Friday, December 6th will be given a dividend of $0.28 per share. This represents a $1.12 dividend on an annualized basis and a yield of 0.58%. The ex-dividend date is Friday, December 6th. AMETEK’s dividend payout ratio (DPR) is presently 19.51%.

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.