1858 Wealth Management LLC Sells 149 Shares of AMETEK, Inc. (NYSE:AME)

1858 Wealth Management LLC decreased its position in AMETEK, Inc. (NYSE:AME) by 0.7% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 22,720 shares of the technology company’s stock after selling 149 shares during the quarter. AMETEK accounts for about 3.2% of 1858 Wealth Management LLC’s holdings, making the stock its 6th biggest holding. 1858 Wealth Management LLC’s holdings in AMETEK were worth $3,901,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in AME. JPMorgan Chase & Co. raised its holdings in AMETEK by 48.4% during the first quarter. JPMorgan Chase & Co. now owns 7,075,565 shares of the technology company’s stock worth $1,294,121,000 after purchasing an additional 2,306,535 shares in the last quarter. Bank of New York Mellon Corp raised its holdings in AMETEK by 34.6% during the second quarter. Bank of New York Mellon Corp now owns 3,602,753 shares of the technology company’s stock worth $600,615,000 after purchasing an additional 926,657 shares in the last quarter. Meridiem Investment Management Ltd. acquired a new stake in AMETEK during the third quarter worth approximately $130,579,000. Principal Financial Group Inc. raised its holdings in AMETEK by 256.3% during the second quarter. Principal Financial Group Inc. now owns 976,808 shares of the technology company’s stock worth $162,844,000 after purchasing an additional 702,674 shares in the last quarter. Finally, James Hambro & Partners LLP acquired a new stake in AMETEK during the third quarter worth approximately $60,188,000. Institutional investors and hedge funds own 87.43% of the company’s stock.

Insider Buying and Selling at AMETEK

In other AMETEK news, Director Steven W. Kohlhagen sold 1,460 shares of the firm’s stock in a transaction on Wednesday, September 25th. The stock was sold at an average price of $171.59, for a total value of $250,521.40. Following the completion of the sale, the director now owns 23,349 shares of the company’s stock, valued at approximately $4,006,454.91. This trade represents a 0.00 % 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. 0.61% of the stock is owned by corporate insiders.

AMETEK Stock Performance

NYSE:AME traded down $0.47 during midday trading on Monday, reaching $168.93. The stock had a trading volume of 310,757 shares, compared to its average volume of 1,137,000. The firm has a fifty day simple moving average of $167.84 and a two-hundred day simple moving average of $169.53. AMETEK, Inc. has a 12-month low of $136.89 and a 12-month high of $186.32. The company has a quick ratio of 0.76, a current ratio of 1.26 and a debt-to-equity ratio of 0.20. The stock has a market cap of $39.10 billion, a P/E ratio of 29.77, a P/E/G ratio of 2.77 and a beta of 1.17.

AMETEK (NYSE:AME) last posted its quarterly earnings data on Thursday, August 1st. The technology company reported $1.66 earnings per share for the quarter, beating analysts’ consensus estimates of $1.64 by $0.02. AMETEK had a net margin of 19.51% and a return on equity of 17.41%. The firm had revenue of $1.73 billion for the quarter, compared to analyst estimates of $1.78 billion. During the same period last year, the firm posted $1.57 EPS. AMETEK’s quarterly revenue was up 5.4% on a year-over-year basis. On average, equities analysts expect that AMETEK, Inc. will post 6.76 EPS for the current year.

AMETEK Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, September 30th. Shareholders of record on Monday, September 16th were issued a $0.28 dividend. This represents a $1.12 dividend on an annualized basis and a yield of 0.66%. The ex-dividend date of this dividend was Monday, September 16th. AMETEK’s dividend payout ratio (DPR) is currently 19.68%.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on AME. StockNews.com lowered shares of AMETEK from a “buy” rating to a “hold” rating in a research report on Tuesday, August 6th. Wolfe Research upgraded shares of AMETEK to a “hold” rating in a research report on Wednesday, September 18th. TD Cowen lowered shares of AMETEK from a “hold” rating to a “sell” rating in a research report on Monday, October 7th. Royal Bank of Canada lowered their target price on shares of AMETEK from $216.00 to $215.00 and set an “outperform” rating on the stock in a research report on Friday, August 2nd. Finally, Redburn Atlantic upgraded shares of AMETEK to a “strong-buy” rating in a research report on Friday, August 2nd. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $193.29.

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.