Prospector Partners LLC Makes New $8.81 Million Investment in AMETEK, Inc. (NYSE:AME)

Prospector Partners LLC bought a new stake in AMETEK, Inc. (NYSE:AME) during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 51,300 shares of the technology company’s stock, valued at approximately $8,809,000.

Several other hedge funds have also bought and sold shares of AME. Family Firm Inc. purchased a new position in shares of AMETEK in the 2nd quarter worth about $39,000. Industrial Alliance Investment Management Inc. bought a new position in shares of AMETEK during the second quarter valued at about $42,000. Princeton Global Asset Management LLC purchased a new stake in shares of AMETEK during the third quarter worth about $44,000. Crewe Advisors LLC increased its holdings in AMETEK by 168.8% during the 2nd quarter. Crewe Advisors LLC now owns 293 shares of the technology company’s stock valued at $49,000 after purchasing an additional 184 shares during the period. Finally, First Command Advisory Services Inc. bought a new position in AMETEK during the 2nd quarter valued at approximately $50,000. 87.43% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on AME shares. Wolfe Research upgraded AMETEK to a “hold” rating in a report on Wednesday, September 18th. Redburn Atlantic upgraded shares of AMETEK to a “strong-buy” rating in a research report on Friday, August 2nd. Robert W. Baird raised their price objective on shares of AMETEK from $166.00 to $186.00 and gave the stock a “neutral” rating in a report on Monday, November 4th. KeyCorp lifted their price target on AMETEK from $205.00 to $215.00 and gave the company an “overweight” rating in a research report on Friday. Finally, Mizuho upped their price objective on shares of AMETEK from $190.00 to $200.00 and gave the stock an “outperform” rating in a report on Friday, November 1st. One research analyst has rated the stock with a sell rating, three have assigned a hold rating, five have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $199.29.

Insider Buying and Selling at AMETEK

In other AMETEK news, Director Steven W. Kohlhagen sold 1,460 shares of the stock in a transaction on Wednesday, September 25th. The stock was sold at an average price of $171.59, for a total value of $250,521.40. Following the completion of the sale, the director now owns 23,349 shares in the company, valued at approximately $4,006,454.91. This represents a 5.88 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Tony J. Ciampitti sold 16,210 shares of the firm’s stock in a transaction on Friday, November 22nd. The shares were sold at an average price of $197.01, for a total transaction of $3,193,532.10. Following the transaction, the insider now directly owns 49,490 shares of the company’s stock, valued at $9,750,024.90. The trade was a 24.67 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 23,913 shares of company stock worth $4,636,404 in the last three months. 0.61% of the stock is currently owned by company insiders.

AMETEK Stock Performance

Shares of AMETEK stock opened at $197.12 on Tuesday. The firm’s 50-day moving average is $177.04 and its 200 day moving average is $170.91. AMETEK, Inc. has a 1 year low of $149.03 and a 1 year high of $198.33. The company has a debt-to-equity ratio of 0.18, a current ratio of 1.39 and a quick ratio of 0.84. The stock has a market cap of $45.60 billion, a price-to-earnings ratio of 34.34, a PEG ratio of 3.22 and a beta of 1.16.

AMETEK (NYSE:AME) last released its quarterly earnings data on Thursday, October 31st. The technology company reported $1.66 EPS for the quarter, beating the consensus estimate of $1.62 by $0.04. AMETEK had a return on equity of 16.88% and a net margin of 19.27%. The company had revenue of $1.71 billion for the quarter, compared to analysts’ expectations of $1.71 billion. During the same period last year, the firm posted $1.64 earnings per share. AMETEK’s revenue was up 5.3% compared to the same quarter last year. Sell-side analysts anticipate that AMETEK, Inc. will post 6.8 EPS for the current fiscal year.

AMETEK Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, December 20th. Stockholders of record on Friday, December 6th will be paid a $0.28 dividend. The ex-dividend date is Friday, December 6th. This represents a $1.12 dividend on an annualized basis and a dividend yield of 0.57%. AMETEK’s dividend payout ratio (DPR) is currently 19.51%.

About AMETEK

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.