Summit Trail Advisors LLC Purchases 170 Shares of AMETEK, Inc. (NYSE:AME)

Summit Trail Advisors LLC boosted its position in AMETEK, Inc. (NYSE:AME) by 2.4% during the third quarter, according to its most recent 13F filing with the SEC. The firm owned 7,240 shares of the technology company’s stock after acquiring an additional 170 shares during the period. Summit Trail Advisors LLC’s holdings in AMETEK were worth $1,243,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Swedbank AB raised its stake in shares of AMETEK by 3.9% during the 3rd quarter. Swedbank AB now owns 70,517 shares of the technology company’s stock valued at $12,108,000 after purchasing an additional 2,659 shares during the period. Cerity Partners LLC increased its position in shares of AMETEK by 60.0% during the third quarter. Cerity Partners LLC now owns 108,341 shares of the technology company’s stock valued at $18,603,000 after buying an additional 40,616 shares during the period. Raymond James Trust N.A. lifted its holdings in shares of AMETEK by 4.9% in the third quarter. Raymond James Trust N.A. now owns 9,935 shares of the technology company’s stock worth $1,706,000 after buying an additional 467 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its position in shares of AMETEK by 1.5% in the third quarter. Charles Schwab Investment Management Inc. now owns 1,291,649 shares of the technology company’s stock valued at $221,789,000 after acquiring an additional 19,435 shares during the period. Finally, Pacer Advisors Inc. grew its stake in AMETEK by 21.3% during the third quarter. Pacer Advisors Inc. now owns 47,469 shares of the technology company’s stock valued at $8,151,000 after acquiring an additional 8,347 shares in the last quarter. 87.43% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research firms have weighed in on AME. StockNews.com cut AMETEK from a “buy” rating to a “hold” rating in a report on Friday, November 15th. Royal Bank of Canada dropped their target price on shares of AMETEK from $216.00 to $215.00 and set an “outperform” rating for the company in a research report on Friday, August 2nd. KeyCorp raised their price objective on shares of AMETEK from $205.00 to $215.00 and gave the company an “overweight” rating in a research report on Friday. Robert W. Baird upped their target price on shares of AMETEK from $166.00 to $186.00 and gave the stock a “neutral” rating in a research report on Monday, November 4th. Finally, Wolfe Research upgraded AMETEK to a “hold” rating in a research report on Wednesday, September 18th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, AMETEK presently has an average rating of “Moderate Buy” and a consensus price target of $199.29.

AMETEK Price Performance

AME opened at $197.38 on Monday. 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’s 50 day simple moving average is $176.46 and its 200 day simple moving average is $170.72. The firm has a market cap of $45.66 billion, a price-to-earnings ratio of 34.39, a PEG ratio of 3.19 and a beta of 1.16. AMETEK, Inc. has a 1 year low of $149.03 and a 1 year high of $197.83.

AMETEK (NYSE:AME) last issued its earnings results on Thursday, October 31st. The technology company reported $1.66 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.62 by $0.04. AMETEK had a net margin of 19.27% and a return on equity of 16.88%. The firm had revenue of $1.71 billion for the quarter, compared to analysts’ expectations of $1.71 billion. During the same quarter last year, the business earned $1.64 earnings per share. The business’s revenue was up 5.3% on a year-over-year basis. As a group, analysts predict that AMETEK, Inc. will post 6.8 earnings per share for the current year.

AMETEK Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, December 20th. Stockholders of record on Friday, December 6th will be paid a dividend of $0.28 per share. This represents a $1.12 dividend on an annualized basis and a dividend yield of 0.57%. The ex-dividend date of this dividend is Friday, December 6th. AMETEK’s payout ratio is 19.51%.

Insider Activity at AMETEK

In related news, Director Steven W. Kohlhagen sold 1,460 shares of the stock in a transaction dated Wednesday, September 25th. The shares were sold at an average price of $171.59, for a total transaction of $250,521.40. Following the sale, the director now directly owns 23,349 shares of the company’s stock, valued at approximately $4,006,454.91. This represents a 5.88 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider David F. Hermance sold 6,243 shares of AMETEK stock in a transaction on Friday, November 8th. The stock was sold at an average price of $190.99, for a total value of $1,192,350.57. Following the completion of the sale, the insider now directly owns 36,731 shares of the company’s stock, valued at approximately $7,015,253.69. The trade was a 14.53 % decrease in their position. The disclosure for this sale can be found here. 0.61% of the stock is owned by corporate insiders.

AMETEK Profile

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.