PNC Financial Services Group Inc. Has $35.99 Million Position in AMETEK, Inc. (NYSE:AME)

PNC Financial Services Group Inc. boosted its stake in AMETEK, Inc. (NYSE:AME) by 1.5% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 199,631 shares of the technology company’s stock after buying an additional 2,868 shares during the quarter. PNC Financial Services Group Inc. owned approximately 0.09% of AMETEK worth $35,986,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Itau Unibanco Holding S.A. boosted its stake in shares of AMETEK by 62.6% in the 3rd quarter. Itau Unibanco Holding S.A. now owns 200 shares of the technology company’s stock valued at $34,000 after purchasing an additional 77 shares during the last quarter. Versant Capital Management Inc increased its stake in shares of AMETEK by 3,116.7% in the 4th quarter. Versant Capital Management Inc now owns 193 shares of the technology company’s stock valued at $35,000 after acquiring an additional 187 shares during the last quarter. AdvisorNet Financial Inc increased its stake in AMETEK by 1,176.5% in the fourth quarter. AdvisorNet Financial Inc now owns 217 shares of the technology company’s stock valued at $39,000 after purchasing an additional 200 shares in the last quarter. Geneos Wealth Management Inc. increased its stake in AMETEK by 42.9% in the fourth quarter. Geneos Wealth Management Inc. now owns 233 shares of the technology company’s stock valued at $42,000 after purchasing an additional 70 shares in the last quarter. Finally, Anchor Investment Management LLC increased its stake in AMETEK by 366.1% in the third quarter. Anchor Investment Management LLC now owns 261 shares of the technology company’s stock valued at $45,000 after purchasing an additional 205 shares in the last quarter. Institutional investors and hedge funds own 87.43% of the company’s stock.

Insider Transactions at AMETEK

In other news, Director Steven W. Kohlhagen sold 1,320 shares of the firm’s stock in a transaction that occurred on Monday, March 3rd. The shares were sold at an average price of $189.41, for a total value of $250,021.20. Following the completion of the transaction, the director now directly owns 22,029 shares in the company, valued at approximately $4,172,512.89. This trade represents a 5.65 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 0.61% of the company’s stock.

AMETEK Stock Down 0.0 %

Shares of NYSE:AME opened at $184.12 on Monday. The stock has a market cap of $42.47 billion, a price-to-earnings ratio of 31.05, a PEG ratio of 2.73 and a beta of 1.14. The company has a quick ratio of 0.75, a current ratio of 1.24 and a debt-to-equity ratio of 0.15. AMETEK, Inc. has a 12-month low of $149.03 and a 12-month high of $198.33. The business’s 50 day moving average is $183.38 and its 200 day moving average is $180.03.

AMETEK (NYSE:AME) last issued its quarterly earnings data on Tuesday, February 4th. The technology company reported $1.87 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.85 by $0.02. The business had revenue of $1.76 billion during the quarter, compared to the consensus estimate of $1.82 billion. AMETEK had a net margin of 19.83% and a return on equity of 16.94%. The firm’s quarterly revenue was up 1.8% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.68 EPS. On average, sell-side analysts forecast that AMETEK, Inc. will post 7.15 earnings per share for the current fiscal year.

AMETEK announced that its board has initiated a share repurchase program on Friday, February 7th that authorizes the company to buyback $1.25 billion in shares. This buyback authorization authorizes the technology company to purchase up to 2.9% of its shares through open market purchases. Shares buyback programs are often a sign that the company’s board believes its stock is undervalued.

AMETEK Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Friday, March 14th will be given a dividend of $0.31 per share. This represents a $1.24 dividend on an annualized basis and a yield of 0.67%. The ex-dividend date of this dividend is Friday, March 14th. This is a positive change from AMETEK’s previous quarterly dividend of $0.28. AMETEK’s dividend payout ratio (DPR) is currently 20.91%.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on the company. StockNews.com upgraded AMETEK from a “hold” rating to a “buy” rating in a report on Sunday. Robert W. Baird decreased their target price on shares of AMETEK from $200.00 to $197.00 and set a “neutral” rating for the company in a research note on Wednesday, February 5th. Bank of America raised shares of AMETEK from a “neutral” rating to a “buy” rating and raised their target price for the company from $195.00 to $225.00 in a research note on Monday, December 16th. KeyCorp lifted 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, November 22nd. Finally, BNP Paribas raised shares of AMETEK from a “neutral” rating to an “outperform” rating and set a $210.00 price objective for the company in a research report on Thursday, January 16th. One analyst has rated the stock with a sell rating, two have assigned a hold rating, eight have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $204.67.

AMETEK Company 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.