Private Trust Co. NA Acquires 318 Shares of AMETEK, Inc. (NYSE:AME)

Private Trust Co. NA lifted its stake in AMETEK, Inc. (NYSE:AME) by 23.6% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 1,668 shares of the technology company’s stock after purchasing an additional 318 shares during the period. Private Trust Co. NA’s holdings in AMETEK were worth $286,000 at the end of the most recent quarter.

Other institutional investors also recently added to or reduced their stakes in the company. Family Firm Inc. bought a new position in AMETEK in the 2nd quarter worth about $39,000. Industrial Alliance Investment Management Inc. purchased a new position in AMETEK during the 2nd quarter worth $42,000. Princeton Global Asset Management LLC purchased a new position in AMETEK during the 3rd quarter worth $44,000. Crewe Advisors LLC raised its position 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 in the last quarter. Finally, First Command Advisory Services Inc. purchased a new stake in shares of AMETEK in the 2nd quarter worth $50,000. Hedge funds and other institutional investors own 87.43% of the company’s stock.

AMETEK Price Performance

NYSE AME opened at $195.10 on Friday. The firm’s fifty day simple moving average is $178.58 and its two-hundred day simple moving average is $171.43. The firm has a market capitalization of $45.13 billion, a P/E ratio of 33.99, a P/E/G ratio of 3.22 and a beta of 1.16. 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, Inc. has a 12-month low of $149.03 and a 12-month high of $198.33.

AMETEK (NYSE:AME) last announced its earnings results on Thursday, October 31st. The technology company reported $1.66 earnings per share for the quarter, topping 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 firm had revenue of $1.71 billion for the quarter, compared to the consensus estimate of $1.71 billion. During the same period in the previous year, the business earned $1.64 EPS. The firm’s revenue for the quarter was up 5.3% on a year-over-year basis. Analysts forecast that AMETEK, Inc. will post 6.8 EPS for the current fiscal year.

AMETEK Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 20th. Investors of record on Friday, December 6th will be given a $0.28 dividend. This represents a $1.12 annualized dividend and a dividend yield of 0.57%. The ex-dividend date is Friday, December 6th. AMETEK’s payout ratio is currently 19.51%.

Insider Buying and Selling

In related news, insider Emanuela Speranza sold 6,747 shares of the firm’s stock in a transaction on Tuesday, November 26th. The stock was sold at an average price of $195.90, for a total value of $1,321,737.30. Following the completion of the transaction, the insider now owns 30,460 shares in the company, valued at $5,967,114. This trade represents a 18.13 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Tony J. Ciampitti sold 16,210 shares of AMETEK stock in a transaction dated Friday, November 22nd. The stock was sold at an average price of $197.01, for a total value of $3,193,532.10. Following the sale, the insider now directly owns 49,490 shares of the company’s stock, valued at approximately $9,750,024.90. This represents a 24.67 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 30,660 shares of company stock worth $5,958,141 in the last three months. Corporate insiders own 0.61% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on the company. KeyCorp lifted their price objective on AMETEK from $205.00 to $215.00 and gave the company an “overweight” rating in a report on Friday, November 22nd. Mizuho boosted their price target on shares of AMETEK from $190.00 to $200.00 and gave the company an “outperform” rating in a report on Friday, November 1st. Robert W. Baird increased their price objective on shares of AMETEK from $166.00 to $186.00 and gave the company a “neutral” rating in a research note on Monday, November 4th. StockNews.com downgraded shares of AMETEK from a “buy” rating to a “hold” rating in a research note on Friday, November 15th. Finally, Wolfe Research upgraded AMETEK to a “hold” rating in a report on Wednesday, September 18th. One analyst has rated the stock with a sell rating, three have assigned a hold rating, five have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $199.29.

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.