Haverford Trust Co. trimmed its holdings in AMETEK, Inc. (NYSE:AME) by 32.9% in the third quarter, according to the company in its most recent filing with the SEC. The fund owned 3,048 shares of the technology company’s stock after selling 1,492 shares during the quarter. Haverford Trust Co.’s holdings in AMETEK were worth $280,000 at the end of the most recent quarter.
Other institutional investors and hedge funds have also made changes to their positions in the company. Nuveen Asset Management LLC raised its holdings in AMETEK by 807.9% during the 2nd quarter. Nuveen Asset Management LLC now owns 1,423,064 shares of the technology company’s stock valued at $129,271,000 after buying an additional 1,266,329 shares during the last quarter. Alecta Pensionsforsakring Omsesidigt bought a new stake in AMETEK during the 3rd quarter valued at $76,899,000. JPMorgan Chase & Co. raised its holdings in AMETEK by 18.1% during the 2nd quarter. JPMorgan Chase & Co. now owns 4,896,915 shares of the technology company’s stock valued at $432,202,000 after buying an additional 749,865 shares during the last quarter. UBS Group AG raised its holdings in AMETEK by 417.2% during the 2nd quarter. UBS Group AG now owns 681,116 shares of the technology company’s stock valued at $61,872,000 after buying an additional 549,417 shares during the last quarter. Finally, Invesco Ltd. raised its holdings in AMETEK by 34.3% during the 2nd quarter. Invesco Ltd. now owns 1,579,503 shares of the technology company’s stock valued at $143,482,000 after buying an additional 403,704 shares during the last quarter. Hedge funds and other institutional investors own 86.51% of the company’s stock.
AME has been the subject of a number of recent analyst reports. Bank of America lowered shares of AMETEK from a “buy” rating to a “neutral” rating and lowered their price target for the company from $105.00 to $95.00 in a report on Friday, October 11th. Royal Bank of Canada set a $95.00 price target on shares of AMETEK and gave the company a “buy” rating in a report on Wednesday, July 31st. Wolfe Research set a $100.00 price target on shares of AMETEK and gave the company a “buy” rating in a report on Friday, November 1st. KeyCorp upped their price target on shares of AMETEK from $94.00 to $100.00 in a report on Wednesday, July 31st. Finally, Morgan Stanley set a $102.00 price target on shares of AMETEK and gave the company a “buy” rating in a report on Friday, November 1st. Two analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and an average price target of $97.62.
AMETEK (NYSE:AME) last issued its quarterly earnings data on Thursday, October 31st. The technology company reported $1.06 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.01 by $0.05. The business had revenue of $1.28 billion for the quarter, compared to the consensus estimate of $1.28 billion. AMETEK had a net margin of 16.63% and a return on equity of 20.04%. The company’s quarterly revenue was up 7.0% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.91 EPS. On average, sell-side analysts anticipate that AMETEK, Inc. will post 4.14 EPS for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 20th. Shareholders of record on Friday, December 6th will be given a dividend of $0.14 per share. This represents a $0.56 dividend on an annualized basis and a yield of 0.58%. AMETEK’s payout ratio is currently 17.02%.
In other news, Director Elizebeth R. Varet sold 1,000 shares of the company’s stock in a transaction dated Friday, November 8th. The shares were sold at an average price of $96.50, for a total value of $96,500.00. Following the sale, the director now directly owns 89,670 shares of the company’s stock, valued at approximately $8,653,155. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Elizebeth R. Varet sold 4,000 shares of the company’s stock in a transaction dated Thursday, August 29th. The stock was sold at an average price of $85.69, for a total transaction of $342,760.00. Following the completion of the sale, the director now directly owns 95,670 shares in the company, valued at $8,197,962.30. The disclosure for this sale can be found here. Over the last three months, insiders have sold 38,560 shares of company stock worth $3,659,482. Insiders own 0.80% of the company’s stock.
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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