Livforsakringsbolaget Skandia Omsesidigt lowered its position in AMETEK, Inc. (NYSE:AME) by 42.7% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 2,009 shares of the technology company’s stock after selling 1,500 shares during the quarter. Livforsakringsbolaget Skandia Omsesidigt’s holdings in AMETEK were worth $159,000 as of its most recent SEC filing.
A number of other large investors have also recently made changes to their positions in AME. Fort L.P. bought a new position in AMETEK in the second quarter worth approximately $119,000. Signet Financial Management LLC bought a new position in AMETEK in the second quarter worth approximately $124,000. ELM Advisors LLC bought a new position in AMETEK in the third quarter worth approximately $142,000. Advisors Asset Management Inc. bought a new position in AMETEK in the second quarter worth approximately $168,000. Finally, Piedmont Investment Advisors LLC bought a new position in AMETEK in the second quarter worth approximately $195,000. 85.13% of the stock is currently owned by institutional investors.
In other news, Director Elizebeth R. Varet sold 3,000 shares of the stock in a transaction on Tuesday, August 7th. The stock was sold at an average price of $76.95, for a total transaction of $230,850.00. Following the completion of the sale, the director now owns 113,810 shares in the company, valued at approximately $8,757,679.50. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Elizebeth R. Varet sold 1,500 shares of the stock in a transaction on Friday, September 7th. The shares were sold at an average price of $78.10, for a total value of $117,150.00. Following the sale, the director now owns 4,148 shares of the company’s stock, valued at approximately $323,958.80. The disclosure for this sale can be found here. In the last quarter, insiders have sold 59,925 shares of company stock valued at $4,811,210. Company insiders own 2.10% of the company’s stock.
AMETEK (NYSE:AME) last posted its earnings results on Thursday, November 1st. The technology company reported $0.82 earnings per share for the quarter, topping analysts’ consensus estimates of $0.78 by $0.04. The company had revenue of $1.19 billion during the quarter, compared to analyst estimates of $1.18 billion. AMETEK had a return on equity of 17.08% and a net margin of 17.06%. AMETEK’s revenue was up 10.0% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.66 earnings per share. Analysts anticipate that AMETEK, Inc. will post 3.27 earnings per share for the current fiscal year.
A number of analysts have weighed in on AME shares. Morgan Stanley upped their target price on AMETEK from $79.00 to $84.00 and gave the stock an “equal weight” rating in a report on Wednesday, August 1st. Royal Bank of Canada restated a “buy” rating and set a $86.00 target price on shares of AMETEK in a report on Wednesday, August 1st. BMO Capital Markets upped their target price on AMETEK from $92.00 to $93.00 and gave the stock an “outperform” rating in a report on Wednesday, August 1st. ValuEngine upgraded AMETEK from a “hold” rating to a “buy” rating in a report on Thursday, August 2nd. Finally, Oppenheimer upped their target price on AMETEK from $85.00 to $90.00 and gave the stock an “outperform” rating in a report on Wednesday, August 1st. Three research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. AMETEK has a consensus rating of “Buy” and an average target price of $87.25.
AMETEK, Inc manufactures and sells electronic instruments and electromechanical devices worldwide. Its Electronic Instruments Group segment offers advanced instruments for the process, power and industrial, and aerospace markets; process and analytical instruments for the oil, gas, petrochemical, pharmaceutical, semiconductor, automation, and food and beverage markets; and instruments for the laboratory equipment, ultraprecision manufacturing, medical, and test and measurement markets.
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