Sciencast Management LP Takes $392,000 Position in AMETEK, Inc. (NYSE:AME)

Sciencast Management LP purchased a new position in AMETEK, Inc. (NYSE:AME) during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 4,300 shares of the technology company’s stock, valued at approximately $392,000.

Other institutional investors and hedge funds have also made changes to their positions in the company. Amundi Pioneer Asset Management Inc. increased its holdings in shares of AMETEK by 16.2% in the 1st quarter. Amundi Pioneer Asset Management Inc. now owns 242,237 shares of the technology company’s stock worth $20,098,000 after buying an additional 33,825 shares during the last quarter. Advisors Asset Management Inc. raised its position in AMETEK by 42.0% during the fourth quarter. Advisors Asset Management Inc. now owns 4,588 shares of the technology company’s stock valued at $458,000 after purchasing an additional 1,357 shares during the period. AXA purchased a new stake in AMETEK during the fourth quarter valued at approximately $241,000. Sunbelt Securities Inc. bought a new stake in shares of AMETEK in the 4th quarter valued at approximately $3,042,000. Finally, State of Alaska Department of Revenue boosted its holdings in shares of AMETEK by 7.3% in the 1st quarter. State of Alaska Department of Revenue now owns 79,221 shares of the technology company’s stock worth $5,704,000 after purchasing an additional 5,356 shares during the period. Institutional investors own 85.52% of the company’s stock.

A number of brokerages recently issued reports on AME. Oppenheimer downgraded AMETEK from an “outperform” rating to a “market perform” rating in a research report on Thursday, June 11th. Rosenblatt Securities raised their target price on shares of AMETEK from $92.00 to $104.00 and gave the stock a “buy” rating in a report on Thursday, June 18th. DA Davidson reiterated a “buy” rating and set a $93.00 price target on shares of AMETEK in a report on Thursday, April 16th. Morgan Stanley raised their price objective on shares of AMETEK from $90.00 to $98.00 and gave the stock an “overweight” rating in a research note on Tuesday, July 14th. Finally, Bank of America raised AMETEK from a “neutral” rating to a “buy” rating and set a $100.00 target price on the stock in a research note on Tuesday, May 26th. Four investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and a consensus target price of $100.92.

AME opened at $93.25 on Friday. The company has a quick ratio of 1.43, a current ratio of 1.88 and a debt-to-equity ratio of 0.51. The stock’s fifty day moving average is $89.77 and its two-hundred day moving average is $87.23. The company has a market capitalization of $21.39 billion, a P/E ratio of 22.15, a PEG ratio of 3.76 and a beta of 1.24. AMETEK, Inc. has a 52 week low of $54.82 and a 52 week high of $102.31.

AMETEK (NYSE:AME) last posted its earnings results on Tuesday, May 5th. The technology company reported $1.02 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.96 by $0.06. AMETEK had a return on equity of 18.77% and a net margin of 18.48%. The company had revenue of $1.20 billion for the quarter, compared to analyst estimates of $1.24 billion. During the same quarter in the previous year, the firm earned $1.00 earnings per share. The firm’s quarterly revenue was down 6.6% compared to the same quarter last year. Equities analysts anticipate that AMETEK, Inc. will post 3.54 earnings per share for the current year.

In other news, Director Anthony James Conti sold 1,000 shares of the firm’s stock in a transaction on Wednesday, May 6th. The stock was sold at an average price of $81.53, for a total value of $81,530.00. Following the completion of the sale, the director now owns 24,518 shares of the company’s stock, valued at approximately $1,998,952.54. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 0.74% of the company’s stock.

About AMETEK

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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Institutional Ownership by Quarter for AMETEK (NYSE:AME)

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