3,508 AMETEK, Inc. $AME Shares Sold by Pictet Asset Management Holding SA

Pictet Asset Management Holding SA decreased its position in shares of AMETEK, Inc. (NYSE:AME) by 3.0% during the 3rd quarter, according to its most recent disclosure with the SEC. The firm owned 111,531 shares of the technology company’s stock after selling 3,508 shares during the period. Pictet Asset Management Holding SA’s holdings in AMETEK were worth $27,630,000 as of its most recent SEC filing.

A number of other hedge funds have also recently bought and sold shares of the company. Investment Management Corp VA ADV lifted its stake in shares of AMETEK by 6.6% during the 3rd quarter. Investment Management Corp VA ADV now owns 2,688 shares of the technology company’s stock worth $666,000 after purchasing an additional 166 shares during the period. Parallel Advisors LLC boosted its holdings in shares of AMETEK by 7.0% during the third quarter. Parallel Advisors LLC now owns 3,529 shares of the technology company’s stock worth $874,000 after purchasing an additional 232 shares during the last quarter. Alps Advisors Inc. grew its position in shares of AMETEK by 15.3% in the third quarter. Alps Advisors Inc. now owns 18,624 shares of the technology company’s stock valued at $4,614,000 after purchasing an additional 2,466 shares during the period. Heritage Family Offices LLP purchased a new stake in shares of AMETEK in the third quarter valued at $219,000. Finally, Allegiance Financial Group Advisory Services LLC grew its position in shares of AMETEK by 53.7% in the third quarter. Allegiance Financial Group Advisory Services LLC now owns 1,936 shares of the technology company’s stock valued at $480,000 after purchasing an additional 676 shares during the period. Institutional investors and hedge funds own 87.43% of the company’s stock.

AMETEK Stock Performance

NYSE:AME opened at $239.66 on Thursday. The company has a market cap of $54.96 billion, a P/E ratio of 33.80, a P/E/G ratio of 2.13 and a beta of 0.96. The firm’s 50 day moving average is $243.17 and its two-hundred day moving average is $234.88. AMETEK, Inc. has a fifty-two week low of $188.47 and a fifty-two week high of $261.16. The company has a quick ratio of 0.91, a current ratio of 1.43 and a debt-to-equity ratio of 0.52.

AMETEK (NYSE:AME) last announced its quarterly earnings data on Tuesday, November 3rd. The technology company reported $2.21 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.11 by $0.10. The company had revenue of $2.22 billion during the quarter, compared to analysts’ expectations of $2.12 billion. AMETEK had a net margin of 19.91% and a return on equity of 17.12%. The business’s quarterly revenue was up 17.3% compared to the same quarter last year. During the same period in the previous year, the company earned $1.89 EPS. Analysts expect that AMETEK, Inc. will post 8.58 EPS for the current year.

AMETEK Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, December 18th. Investors of record on Friday, December 4th will be issued a $0.34 dividend. The ex-dividend date is Friday, December 4th. This represents a $1.36 dividend on an annualized basis and a yield of 0.6%. AMETEK’s dividend payout ratio (DPR) is presently 19.18%.

Wall Street Analyst Weigh In

Several equities analysts recently commented on the company. Deutsche Bank upped their target price on AMETEK from $288.00 to $318.00 and gave the company a “buy” rating in a research note on Wednesday, September 30th. Royal Bank Of Canada raised their price target on AMETEK from $291.00 to $308.00 and gave the stock an “outperform” rating in a research note on Wednesday, November 4th. Seaport Research Partners lifted their price target on AMETEK from $290.00 to $300.00 and gave the company a “buy” rating in a report on Wednesday, September 2nd. Weiss Ratings cut AMETEK from a “buy (b+)” rating to a “buy (b)” rating in a report on Monday, November 2nd. Finally, KeyCorp upped their price objective on shares of AMETEK from $260.00 to $295.00 and gave the company an “overweight” rating in a research note on Wednesday, August 5th. One analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating and five have assigned a Hold rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $278.06.

AMETEK Profile

AMETEK, Inc. is a global manufacturer of electronic instruments and electromechanical products. Its businesses serve a range of markets, including aerospace, energy, industrial manufacturing, medical, and transportation. The company’s products include analytical and process instruments, monitoring and measurement systems, aerospace components, precision motors and pumps, and engineered materials. AMETEK organizes its operations into two groups: Electronic Instruments and Electromechanical. Founded in 1930, AMETEK serves customers around the world through manufacturing facilities, sales offices, and service operations in multiple countries.