Silvercrest Asset Management Group LLC Sells 157,794 Shares of AMETEK, Inc. (NYSE:AME)
Silvercrest Asset Management Group LLC decreased its position in AMETEK, Inc. (NYSE:AME – Free Report) by 16.9% during the 2nd quarter, according to its most recent filing with the SEC. The institutional investor owned 774,194 shares of the technology company’s stock after selling 157,794 shares during the period. AMETEK comprises 0.9% of Silvercrest Asset Management Group LLC’s portfolio, making the stock its 17th biggest position. Silvercrest Asset Management Group LLC owned about 0.34% of AMETEK worth $125,326,000 at the end of the most recent reporting period.
Several other institutional investors have also recently bought and sold shares of AME. Cambridge Investment Research Advisors Inc. lifted its stake in AMETEK by 9.6% in the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 4,306 shares of the technology company’s stock valued at $573,000 after acquiring an additional 376 shares in the last quarter. Lord Abbett & CO. LLC lifted its stake in AMETEK by 12.7% in the 1st quarter. Lord Abbett & CO. LLC now owns 84,481 shares of the technology company’s stock valued at $11,251,000 after acquiring an additional 9,510 shares in the last quarter. Prudential PLC acquired a new position in shares of AMETEK during the 1st quarter worth approximately $591,000. Cetera Investment Advisers increased its position in shares of AMETEK by 45.1% during the 1st quarter. Cetera Investment Advisers now owns 2,974 shares of the technology company’s stock worth $396,000 after purchasing an additional 924 shares during the last quarter. Finally, Sequoia Financial Advisors LLC increased its position in shares of AMETEK by 41.7% during the 1st quarter. Sequoia Financial Advisors LLC now owns 2,379 shares of the technology company’s stock worth $316,000 after purchasing an additional 700 shares during the last quarter. Institutional investors own 85.70% of the company’s stock.
Wall Street Analysts Forecast Growth
Several research analysts have weighed in on the company. Royal Bank of Canada boosted their price target on AMETEK from $183.00 to $186.00 and gave the stock an “outperform” rating in a research report on Wednesday, November 1st. TD Cowen lowered AMETEK from an “outperform” rating to a “market perform” rating and lowered their price target for the stock from $165.00 to $160.00 in a research report on Monday, November 27th. BNP Paribas assumed coverage on AMETEK in a research report on Thursday, October 5th. They set a “neutral” rating and a $159.00 price target on the stock. StockNews.com assumed coverage on AMETEK in a research report on Thursday, October 5th. They set a “buy” rating on the stock. Finally, Seaport Res Ptn reaffirmed a “buy” rating on shares of AMETEK in a research report on Monday, August 7th. Three equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $172.22.
Get Our Latest Stock Report on AME
AMETEK Stock Performance
Shares of AME stock traded up $1.82 during trading on Friday, reaching $157.05. 690,968 shares of the company’s stock were exchanged, compared to its average volume of 982,920. The company has a quick ratio of 1.21, a current ratio of 1.86 and a debt-to-equity ratio of 0.22. The stock has a market capitalization of $36.25 billion, a PE ratio of 28.45, a PEG ratio of 2.65 and a beta of 1.19. AMETEK, Inc. has a twelve month low of $131.52 and a twelve month high of $164.75. The firm’s fifty day moving average price is $148.82 and its 200-day moving average price is $152.85.
AMETEK (NYSE:AME – Get Free Report) last issued its quarterly earnings data on Tuesday, October 31st. The technology company reported $1.64 EPS for the quarter, beating analysts’ consensus estimates of $1.58 by $0.06. AMETEK had a return on equity of 18.19% and a net margin of 19.68%. The firm had revenue of $1.62 billion for the quarter, compared to analyst estimates of $1.66 billion. During the same period in the prior year, the firm posted $1.45 EPS. The company’s revenue for the quarter was up 4.6% on a year-over-year basis. As a group, sell-side analysts anticipate that AMETEK, Inc. will post 6.33 EPS for the current year.
AMETEK Announces Dividend
The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 22nd. Shareholders of record on Friday, December 8th will be issued a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 0.64%. The ex-dividend date of this dividend is Thursday, December 7th. AMETEK’s dividend payout ratio is 18.12%.
Insider Buying and Selling at AMETEK
In other AMETEK news, Director Steven W. Kohlhagen sold 810 shares of the company’s stock in a transaction on Tuesday, November 14th. The stock was sold at an average price of $155.09, for a total value of $125,622.90. Following the transaction, the director now directly owns 29,454 shares of the company’s stock, valued at approximately $4,568,020.86. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In other news, Director Steven W. Kohlhagen sold 810 shares of the company’s stock in a transaction on Tuesday, November 14th. The stock was sold at an average price of $155.09, for a total transaction of $125,622.90. Following the completion of the sale, the director now directly owns 29,454 shares in the company, valued at approximately $4,568,020.86. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director Steven W. Kohlhagen sold 1,645 shares of the company’s stock in a transaction on Thursday, September 14th. The shares were sold at an average price of $152.74, for a total value of $251,257.30. Following the sale, the director now owns 30,264 shares of the company’s stock, valued at $4,622,523.36. The disclosure for this sale can be found here. Insiders own 0.72% of the company’s stock.
AMETEK Company Profile (Free Report)
AMETEK, Inc manufactures and sells electronic instruments and electromechanical devices in North America, Europe, Asia, and South America. It operates in two segments, Electronic Instruments (EIG) and Electromechanical (EMG). 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; and instruments to the laboratory equipment, ultra-precision manufacturing, medical, and test and measurement markets.Its EMG segment offers engineered electrical connectors and electronics packaging to protect sensitive devices and mission-critical electronics; precision motion control products for data storage, medical devices, business equipment, automation, and other applications; high-purity powdered metals, strips and foils, specialty clad metals, and metal matrix composites; motor-blower systems and heat exchangers for use in thermal management, military, commercial aircraft, and military ground vehicles; and motors for use in commercial appliances, fitness equipment, food and beverage machines, hydraulic pumps, and industrial blowers.
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