UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC Has $241.28 Million Stock Position in AMETEK, Inc. (NYSE:AME)

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC cut its stake in shares of AMETEK, Inc. (NYSE:AME) by 14.9% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 1,405,134 shares of the technology company’s stock after selling 246,047 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC’s holdings in AMETEK were worth $241,276,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in AME. Bank of New York Mellon Corp grew its position in shares of AMETEK by 34.6% during the 2nd quarter. Bank of New York Mellon Corp now owns 3,602,753 shares of the technology company’s stock worth $600,615,000 after buying an additional 926,657 shares during the period. Meridiem Investment Management Ltd. acquired a new position in AMETEK during the third quarter valued at approximately $130,579,000. Principal Financial Group Inc. increased its stake in AMETEK by 72.0% in the third quarter. Principal Financial Group Inc. now owns 1,680,309 shares of the technology company’s stock valued at $288,526,000 after purchasing an additional 703,501 shares in the last quarter. James Hambro & Partners LLP acquired a new stake in AMETEK in the third quarter worth $60,188,000. Finally, Ceredex Value Advisors LLC bought a new position in shares of AMETEK during the third quarter worth $40,811,000. Institutional investors own 87.43% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts recently commented on AME shares. Redburn Atlantic raised AMETEK to a “strong-buy” rating in a research note on Friday, August 2nd. StockNews.com cut AMETEK from a “buy” rating to a “hold” rating in a report on Friday, November 15th. Mizuho increased their target price on AMETEK from $190.00 to $200.00 and gave the stock an “outperform” rating in a research note on Friday, November 1st. Wolfe Research raised shares of AMETEK to a “hold” rating in a research note on Wednesday, September 18th. Finally, Royal Bank of Canada reduced their price target on shares of AMETEK from $216.00 to $215.00 and set an “outperform” rating for the company in a report on Friday, August 2nd. One analyst has rated the stock with a sell rating, three have issued a hold rating, five have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $199.29.

Insider Buying and Selling

In related news, insider Tony J. Ciampitti sold 16,210 shares of the business’s stock in a transaction that occurred on Friday, November 22nd. The stock was sold at an average price of $197.01, for a total transaction of $3,193,532.10. Following the transaction, the insider now directly owns 49,490 shares of the company’s stock, valued at approximately $9,750,024.90. The trade was a 24.67 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Steven W. Kohlhagen sold 1,460 shares of the stock in a transaction on 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 owns 23,349 shares in the company, valued at approximately $4,006,454.91. This trade represents a 5.88 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 30,660 shares of company stock worth $5,958,141. Insiders own 0.61% of the company’s stock.

AMETEK Stock Down 0.4 %

AMETEK stock opened at $194.41 on Friday. The company has a fifty day simple moving average of $179.05 and a 200 day simple moving average of $171.60. 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 1-year low of $149.03 and a 1-year high of $198.33. The company has a market cap of $44.97 billion, a P/E ratio of 33.87, a price-to-earnings-growth ratio of 3.18 and a beta of 1.16.

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

AMETEK Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, December 20th. Investors of record on Friday, December 6th will be paid a $0.28 dividend. The ex-dividend date of this dividend is Friday, December 6th. This represents a $1.12 annualized dividend and a dividend yield of 0.58%. AMETEK’s dividend payout ratio is presently 19.51%.

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.