HM Payson & Co. Invests $275,000 in AMETEK, Inc. (AME)

HM Payson & Co. purchased a new position in AMETEK, Inc. (NYSE:AME) in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 3,471 shares of the technology company’s stock, valued at approximately $275,000.

Other hedge funds also recently made changes to their positions in the company. Fort L.P. bought a new stake in shares of AMETEK in the second quarter worth approximately $119,000. Signet Financial Management LLC bought a new stake in shares of AMETEK in the second quarter worth approximately $124,000. ELM Advisors LLC bought a new stake in shares of AMETEK in the third quarter worth approximately $142,000. Advisors Asset Management Inc. bought a new stake in shares of AMETEK in the second quarter worth approximately $168,000. Finally, Fuller & Thaler Asset Management Inc. grew its stake in shares of AMETEK by 114.3% in the third quarter. Fuller & Thaler Asset Management Inc. now owns 2,250 shares of the technology company’s stock worth $178,000 after acquiring an additional 1,200 shares during the period. Hedge funds and other institutional investors own 84.63% of the company’s stock.

AME opened at $73.43 on Monday. The company has a current ratio of 2.06, a quick ratio of 1.42 and a debt-to-equity ratio of 0.41. The company has a market capitalization of $17.04 billion, a P/E ratio of 28.13, a price-to-earnings-growth ratio of 2.01 and a beta of 1.32. AMETEK, Inc. has a 12-month low of $64.91 and a 12-month high of $81.92.

AMETEK (NYSE:AME) last posted its quarterly earnings data on Thursday, November 1st. The technology company reported $0.82 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.78 by $0.04. The company had revenue of $1.19 billion for the quarter, compared to the consensus estimate of $1.18 billion. AMETEK had a net margin of 17.06% and a return on equity of 17.08%. The firm’s revenue was up 10.0% compared to the same quarter last year. During the same quarter last year, the firm posted $0.66 earnings per share. On average, equities research analysts predict that AMETEK, Inc. will post 3.27 earnings per share for the current year.

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 21st. Investors of record on Friday, December 7th will be issued a $0.14 dividend. This represents a $0.56 dividend on an annualized basis and a dividend yield of 0.76%. The ex-dividend date of this dividend is Thursday, December 6th. AMETEK’s payout ratio is 21.46%.

In other AMETEK news, VP William Joseph Burke sold 15,600 shares of AMETEK stock in a transaction that occurred on Tuesday, September 11th. The shares were sold at an average price of $80.00, for a total transaction of $1,248,000.00. Following the transaction, the vice president now owns 68,289 shares of the company’s stock, valued at $5,463,120. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Thomas A. Amato purchased 2,000 shares of the stock in a transaction on Monday, November 12th. The shares were purchased at an average cost of $73.14 per share, for a total transaction of $146,280.00. Following the acquisition, the director now directly owns 7,510 shares of the company’s stock, valued at $549,281.40. The disclosure for this purchase can be found here. In the last three months, insiders sold 50,925 shares of company stock worth $4,117,580. 2.00% of the stock is currently owned by insiders.

A number of brokerages have recently commented on AME. Stephens began coverage on shares of AMETEK in a research note on Monday, November 19th. They issued an “overweight” rating and a $87.00 price target for the company. ValuEngine upgraded shares of AMETEK from a “hold” rating to a “buy” rating in a research note on Tuesday, November 6th. Morgan Stanley reduced their price target on shares of AMETEK from $84.00 to $81.00 and set an “equal weight” rating for the company in a research note on Monday, November 5th. Robert W. Baird lifted their price target on shares of AMETEK from $82.00 to $84.00 and gave the stock an “outperform” rating in a research note on Friday, November 2nd. Finally, BMO Capital Markets dropped their price objective on shares of AMETEK from $93.00 to $91.00 and set an “outperform” rating on the stock in a report on Friday, November 2nd. Two investment analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and an average price target of $87.00.

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About AMETEK

AMETEK, Inc manufactures and sells electronic instruments and electromechanical devices worldwide. Its Electronic Instruments Group segment offers advanced instruments for the process, power and industrial, and aerospace markets; process and analytical instruments for the oil, gas, petrochemical, pharmaceutical, semiconductor, automation, and food and beverage markets; and instruments for the laboratory equipment, ultraprecision manufacturing, medical, and test and measurement markets.

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Institutional Ownership by Quarter for AMETEK (NYSE:AME)

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