Neville Rodie & Shaw Inc. decreased its stake in shares of AMETEK, Inc. (NYSE:AME) by 2.8% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 34,770 shares of the technology company’s stock after selling 1,000 shares during the quarter. Neville Rodie & Shaw Inc.’s holdings in AMETEK were worth $3,193,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors also recently bought and sold shares of the business. NumerixS Investment Technologies Inc acquired a new stake in AMETEK during the 2nd quarter valued at approximately $27,000. Capital Bank & Trust Co acquired a new stake in AMETEK during the 2nd quarter valued at approximately $29,000. Berman Capital Advisors LLC lifted its stake in AMETEK by 51.3% during the 2nd quarter. Berman Capital Advisors LLC now owns 454 shares of the technology company’s stock valued at $41,000 after acquiring an additional 154 shares during the period. Ibex Wealth Advisors acquired a new stake in AMETEK during the 2nd quarter valued at approximately $52,000. Finally, Legacy Advisors LLC acquired a new stake in AMETEK during the 2nd quarter valued at approximately $55,000. 86.05% of the stock is owned by institutional investors and hedge funds.
Several analysts have commented on AME shares. Oppenheimer lifted their price objective on shares of AMETEK from $94.00 to $100.00 and gave the company an “outperform” rating in a research note on Wednesday, July 31st. Royal Bank of Canada set a $95.00 price objective on shares of AMETEK and gave the company a “buy” rating in a research note on Wednesday, July 31st. Zacks Investment Research upgraded shares of AMETEK from a “hold” rating to a “buy” rating and set a $90.00 price objective for the company in a research note on Thursday, June 13th. KeyCorp lifted their price objective on shares of AMETEK from $94.00 to $100.00 in a research note on Wednesday, July 31st. Finally, Morgan Stanley lifted their target price on shares of AMETEK from $95.00 to $97.00 and gave the company an “overweight” rating in a report on Wednesday, July 31st. One analyst has rated the stock with a hold rating and fourteen have issued a buy rating to the company’s stock. AMETEK has an average rating of “Buy” and a consensus price target of $95.25.
AMETEK (NYSE:AME) last posted its earnings results on Tuesday, July 30th. The technology company reported $1.05 earnings per share for the quarter, beating the consensus estimate of $1.03 by $0.02. The firm had revenue of $1.29 billion during the quarter, compared to analyst estimates of $1.32 billion. AMETEK had a net margin of 16.32% and a return on equity of 19.27%. The business’s quarterly revenue was up 6.7% on a year-over-year basis. During the same period in the previous year, the firm earned $0.83 EPS. On average, equities research analysts predict that AMETEK, Inc. will post 4.1 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which was paid on Monday, September 30th. Investors of record on Monday, September 16th were issued a $0.14 dividend. This represents a $0.56 annualized dividend and a yield of 0.65%. The ex-dividend date was Friday, September 13th. AMETEK’s payout ratio is presently 17.02%.
In related news, Director Elizebeth R. Varet sold 4,000 shares of the business’s stock in a transaction on Thursday, August 29th. The shares were sold at an average price of $85.69, for a total value of $342,760.00. Following the completion of the sale, the director now owns 95,670 shares of the company’s stock, valued at approximately $8,197,962.30. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. 0.80% of the stock is currently owned by insiders.
AMETEK Company Profile
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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