Peapack Gladstone Financial Corp Grows Position in AMETEK, Inc. (NYSE:AME)

Peapack Gladstone Financial Corp raised its position in shares of AMETEK, Inc. (NYSE:AME) by 3.0% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 33,034 shares of the technology company’s stock after acquiring an additional 958 shares during the period. Peapack Gladstone Financial Corp’s holdings in AMETEK were worth $5,672,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Tidal Investments LLC raised its stake in AMETEK by 27.0% during the third quarter. Tidal Investments LLC now owns 11,938 shares of the technology company’s stock valued at $2,050,000 after purchasing an additional 2,540 shares in the last quarter. Wilmington Savings Fund Society FSB bought a new stake in shares of AMETEK in the 3rd quarter worth about $2,336,000. Anchor Investment Management LLC raised its position in shares of AMETEK by 366.1% during the 3rd quarter. Anchor Investment Management LLC now owns 261 shares of the technology company’s stock valued at $45,000 after buying an additional 205 shares in the last quarter. Toronto Dominion Bank lifted its holdings in shares of AMETEK by 0.8% in the 3rd quarter. Toronto Dominion Bank now owns 130,622 shares of the technology company’s stock valued at $22,429,000 after acquiring an additional 1,057 shares during the last quarter. Finally, Coldstream Capital Management Inc. grew its position in AMETEK by 4.9% in the third quarter. Coldstream Capital Management Inc. now owns 5,397 shares of the technology company’s stock worth $934,000 after acquiring an additional 251 shares in the last quarter. 87.43% of the stock is currently owned by institutional investors.

AMETEK Stock Down 0.6 %

NYSE:AME opened at $187.36 on Friday. The company has a market cap of $43.34 billion, a price-to-earnings ratio of 32.64, a price-to-earnings-growth ratio of 3.08 and a beta of 1.15. AMETEK, Inc. has a twelve month low of $149.03 and a twelve month high of $198.33. The company has a current ratio of 1.39, a quick ratio of 0.84 and a debt-to-equity ratio of 0.18. The stock has a fifty day simple moving average of $183.21 and a 200-day simple moving average of $173.04.

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

AMETEK Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, December 20th. Investors of record on Friday, December 6th will be issued 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 0.60%. AMETEK’s payout ratio is 19.51%.

Analyst Ratings Changes

A number of equities research analysts have issued reports on the company. Wolfe Research upgraded AMETEK to a “hold” rating in a research report on Wednesday, September 18th. KeyCorp increased their price target on AMETEK from $205.00 to $215.00 and gave the company an “overweight” rating in a report on Friday, November 22nd. TD Cowen lowered shares of AMETEK from a “hold” rating to a “sell” rating in a research note on Monday, October 7th. Robert W. Baird boosted their price objective on shares of AMETEK from $166.00 to $186.00 and gave the company a “neutral” rating in a research report on Monday, November 4th. Finally, StockNews.com upgraded shares of AMETEK from a “hold” rating to a “buy” rating in a report on Wednesday, December 4th. One research analyst has rated the stock with a sell rating, two have issued a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, AMETEK presently has an average rating of “Moderate Buy” and a consensus price target of $199.29.

Insider Buying and Selling

In related news, Director Steven W. Kohlhagen sold 1,460 shares of the company’s stock in a transaction dated Wednesday, September 25th. The shares were 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 directly owns 23,349 shares of the company’s stock, valued at $4,006,454.91. This represents a 5.88 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider David F. Hermance sold 6,243 shares of the firm’s stock in a transaction dated Friday, November 8th. The shares were sold at an average price of $190.99, for a total transaction of $1,192,350.57. Following the transaction, the insider now directly owns 36,731 shares in the company, valued at $7,015,253.69. This trade represents a 14.53 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 30,660 shares of company stock valued at $5,958,141 over the last quarter. 0.61% of the stock is owned by corporate insiders.

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.