Monte Financial Group LLC Acquires 266 Shares of AMETEK, Inc. (NYSE:AME)

Monte Financial Group LLC grew its holdings in AMETEK, Inc. (NYSE:AME) by 3.9% in the 3rd quarter, HoldingsChannel.com reports. The fund owned 7,081 shares of the technology company’s stock after purchasing an additional 266 shares during the quarter. Monte Financial Group LLC’s holdings in AMETEK were worth $1,216,000 as of its most recent SEC filing.

Several other hedge funds also recently modified their holdings of AME. Washington Trust Advisors Inc. bought a new stake in AMETEK in the first quarter worth $37,000. Family Firm Inc. bought a new stake in shares of AMETEK during the 2nd quarter worth about $39,000. Headlands Technologies LLC acquired a new position in shares of AMETEK during the 1st quarter valued at about $43,000. Industrial Alliance Investment Management Inc. acquired a new stake in AMETEK in the 2nd quarter worth approximately $42,000. Finally, Crewe Advisors LLC boosted its position in AMETEK by 168.8% during the second quarter. Crewe Advisors LLC now owns 293 shares of the technology company’s stock worth $49,000 after purchasing an additional 184 shares during the period. Institutional investors and hedge funds own 87.43% of the company’s stock.

Insider Activity at AMETEK

In other AMETEK news, Director Steven W. Kohlhagen sold 1,460 shares of the stock in a transaction on Wednesday, September 25th. The stock was sold at an average price of $171.59, for a total transaction of $250,521.40. Following the completion of the transaction, the director now directly owns 23,349 shares in the company, valued at $4,006,454.91. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 0.61% of the stock is currently owned by insiders.

Analysts Set New Price Targets

A number of equities analysts have recently commented on AME shares. StockNews.com lowered shares of AMETEK from a “buy” rating to a “hold” rating in a research report on Tuesday, August 6th. Redburn Atlantic raised shares of AMETEK to a “strong-buy” rating in a research report on Friday, August 2nd. Robert W. Baird lowered their price target on AMETEK from $171.00 to $166.00 and set a “neutral” rating on the stock in a research report on Wednesday, August 7th. Mizuho boosted their price objective on AMETEK from $180.00 to $190.00 and gave the stock an “outperform” rating in a research report on Thursday, October 17th. Finally, Royal Bank of Canada lowered their target price on AMETEK from $216.00 to $215.00 and set an “outperform” rating on the stock in a report on Friday, August 2nd. One research analyst has rated the stock with a sell rating, three have given a hold rating, five have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $193.29.

AMETEK Trading Down 1.0 %

AMETEK stock opened at $166.67 on Thursday. The business has a 50 day moving average price of $168.26 and a two-hundred day moving average price of $169.35. The company has a quick ratio of 0.76, a current ratio of 1.26 and a debt-to-equity ratio of 0.20. AMETEK, Inc. has a 12 month low of $136.89 and a 12 month high of $186.32. The stock has a market cap of $38.58 billion, a price-to-earnings ratio of 29.29, a price-to-earnings-growth ratio of 2.77 and a beta of 1.17.

AMETEK (NYSE:AME) last issued its earnings results on Thursday, August 1st. The technology company reported $1.66 EPS for the quarter, beating analysts’ consensus estimates of $1.64 by $0.02. The business had revenue of $1.73 billion during the quarter, compared to analyst estimates of $1.78 billion. AMETEK had a return on equity of 17.41% and a net margin of 19.51%. During the same period in the prior year, the company posted $1.57 earnings per share. AMETEK’s revenue was up 5.4% on a year-over-year basis. As a group, equities analysts forecast that AMETEK, Inc. will post 6.76 EPS for the current year.

AMETEK Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, September 30th. Stockholders of record on Monday, September 16th were issued a dividend of $0.28 per share. This represents a $1.12 dividend on an annualized basis and a dividend yield of 0.67%. The ex-dividend date was Monday, September 16th. AMETEK’s payout ratio is 19.68%.

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.