Nuveen Asset Management LLC Sells 207,013 Shares of AMETEK, Inc. (NYSE:AME)

Nuveen Asset Management LLC decreased its stake in AMETEK, Inc. (NYSE:AME) by 19.2% in the fourth quarter, Holdings Channel.com reports. The firm owned 873,475 shares of the technology company’s stock after selling 207,013 shares during the period. Nuveen Asset Management LLC’s holdings in AMETEK were worth $157,453,000 at the end of the most recent quarter.

Several other large investors have also recently modified their holdings of AME. Banque Transatlantique SA bought a new stake in AMETEK in the fourth quarter worth $37,000. AdvisorNet Financial Inc raised its stake in shares of 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 acquiring an additional 200 shares during the period. Geneos Wealth Management Inc. lifted its holdings in shares of AMETEK by 42.9% in the 4th quarter. Geneos Wealth Management Inc. now owns 233 shares of the technology company’s stock worth $42,000 after acquiring an additional 70 shares during the last quarter. OFI Invest Asset Management purchased a new position in shares of AMETEK during the 4th quarter worth about $43,000. Finally, Minot DeBlois Advisors LLC purchased a new position in shares of AMETEK during the 4th quarter worth about $43,000. Institutional investors own 87.43% of the company’s stock.

Insiders Place Their Bets

In other AMETEK news, Director Thomas A. Amato sold 710 shares of the stock in a transaction on Thursday, March 27th. The stock was sold at an average price of $176.64, for a total transaction of $125,414.40. Following the sale, the director now owns 10,560 shares of the company’s stock, valued at approximately $1,865,318.40. This trade represents a 6.30% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Steven W. Kohlhagen sold 1,320 shares of AMETEK stock in a transaction 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 owns 22,029 shares in the company, valued at $4,172,512.89. This represents a 5.65% decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.57% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on AME shares. Royal Bank of Canada increased their price objective on shares of AMETEK from $194.00 to $201.00 and gave the stock an “outperform” rating in a research report on Friday, May 2nd. StockNews.com raised AMETEK from a “hold” rating to a “buy” rating in a research note on Monday. Robert W. Baird reduced their price target on AMETEK from $197.00 to $190.00 and set a “neutral” rating on the stock in a report on Wednesday, May 7th. BNP Paribas upgraded AMETEK from a “neutral” rating to an “outperform” rating and set a $210.00 price objective for the company in a report on Thursday, January 16th. Finally, Morgan Stanley began coverage on AMETEK in a research report on Monday, April 14th. They issued an “equal weight” rating and a $170.00 price objective on the stock. One research analyst has rated the stock with a sell rating, three have given a hold rating, eight have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, AMETEK presently has an average rating of “Moderate Buy” and an average price target of $196.90.

AMETEK Stock Up 0.4%

Shares of NYSE AME opened at $180.12 on Friday. AMETEK, Inc. has a 52-week low of $145.02 and a 52-week high of $198.33. The firm has a market capitalization of $41.59 billion, a price-to-earnings ratio of 30.37, a PEG ratio of 2.73 and a beta of 1.12. The stock has a 50 day moving average price of $168.25 and a 200 day moving average price of $179.74. The company has a debt-to-equity ratio of 0.15, a quick ratio of 0.75 and a current ratio of 1.24.

AMETEK (NYSE:AME) last issued its earnings results on Thursday, May 1st. The technology company reported $1.75 earnings per share for the quarter, beating analysts’ consensus estimates of $1.69 by $0.06. AMETEK had a return on equity of 16.94% and a net margin of 19.83%. The business had revenue of $1.73 billion during the quarter, compared to analyst estimates of $1.74 billion. During the same period in the previous year, the company posted $1.64 EPS. AMETEK’s revenue was down .2% on a year-over-year basis. Sell-side analysts expect that AMETEK, Inc. will post 7.15 earnings per share for the current year.

AMETEK announced that its board has authorized a share repurchase plan on Friday, February 7th that permits the company to repurchase $1.25 billion in outstanding shares. This repurchase authorization permits the technology company to purchase up to 2.9% of its stock through open market purchases. Stock repurchase plans are generally a sign that the company’s board believes its shares are undervalued.

AMETEK Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, June 30th. Investors of record on Friday, June 13th will be paid a $0.31 dividend. This represents a $1.24 dividend on an annualized basis and a yield of 0.69%. The ex-dividend date is Friday, June 13th. AMETEK’s dividend payout ratio (DPR) is presently 20.29%.

AMETEK 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.