AMETEK, Inc. (AME) Holding Trimmed by Roundview Capital LLC

AMETEK, Inc. (AME) Holding Trimmed by Roundview Capital LLC

Roundview Capital LLC lowered its position in AMETEK, Inc. (NYSE:AME) by 79.3% during the first quarter, Holdings Channel reports. The firm owned 4,300 shares of the technology company’s stock after selling 16,450 shares during the period. Roundview Capital LLC’s holdings in AMETEK were worth $233,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in the company. Benjamin F. Edwards & Company Inc. increased its stake in shares of AMETEK by 0.6% in the first quarter. Benjamin F. Edwards & Company Inc. now owns 3,229 shares of the technology company’s stock worth $175,000 after buying an additional 19 shares during the period. First Manhattan Co. increased its stake in shares of AMETEK by 0.5% in the first quarter. First Manhattan Co. now owns 6,946 shares of the technology company’s stock worth $331,000 after buying an additional 36 shares during the period. Cadence Capital Management LLC increased its stake in shares of AMETEK by 0.6% in the first quarter. Cadence Capital Management LLC now owns 6,898 shares of the technology company’s stock worth $373,000 after buying an additional 41 shares during the period. Morgan Dempsey Capital Management LLC increased its stake in shares of AMETEK by 1.7% in the first quarter. Morgan Dempsey Capital Management LLC now owns 3,464 shares of the technology company’s stock worth $187,000 after buying an additional 59 shares during the period. Finally, Sandy Spring Bank increased its stake in shares of AMETEK by 4.1% in the first quarter. Sandy Spring Bank now owns 1,847 shares of the technology company’s stock worth $262,000 after buying an additional 72 shares during the period. 89.39% of the stock is owned by institutional investors.

Shares of AMETEK, Inc. (NYSE:AME) traded up 0.57% during trading on Friday, reaching $61.86. The company had a trading volume of 1,184,819 shares. The stock has a market capitalization of $14.23 billion, a price-to-earnings ratio of 27.88 and a beta of 1.11. The stock has a 50 day moving average of $58.59 and a 200 day moving average of $53.31. AMETEK, Inc. has a 52-week low of $43.28 and a 52-week high of $62.19.

AMETEK (NYSE:AME) last announced its quarterly earnings results on Tuesday, May 2nd. The technology company reported $0.60 EPS for the quarter, beating the consensus estimate of $0.57 by $0.03. AMETEK had a net margin of 13.34% and a return on equity of 16.19%. The company had revenue of $1.01 billion for the quarter, compared to analyst estimates of $961.36 million. During the same quarter last year, the business earned $0.57 earnings per share. AMETEK’s revenue was up 6.7% compared to the same quarter last year. Equities research analysts forecast that AMETEK, Inc. will post $2.47 EPS for the current year.

The company also recently declared a quarterly dividend, which will be paid on Friday, June 30th. Shareholders of record on Friday, June 16th will be paid a $0.09 dividend. The ex-dividend date of this dividend is Wednesday, June 14th. This represents a $0.36 annualized dividend and a dividend yield of 0.58%. AMETEK’s payout ratio is currently 16.44%.

Several analysts have recently weighed in on the company. Zacks Investment Research raised AMETEK from a “hold” rating to a “buy” rating and set a $67.00 target price for the company in a report on Monday, May 22nd. Jefferies Group LLC reissued a “buy” rating and issued a $66.00 target price (up from $63.00) on shares of AMETEK in a report on Wednesday, May 3rd. Morgan Stanley boosted their target price on AMETEK from $57.00 to $62.00 and gave the company an “equal weight” rating in a report on Monday, May 8th. BMO Capital Markets reissued a “buy” rating and issued a $65.00 target price on shares of AMETEK in a report on Monday, March 27th. Finally, Atlantic Securities raised AMETEK from a “neutral” rating to an “overweight” rating and boosted their target price for the company from $48.00 to $62.00 in a report on Wednesday, February 15th. Two research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. The stock has a consensus rating of “Buy” and an average target price of $60.10.

In related news, Director Anthony James Conti sold 4,756 shares of the firm’s stock in a transaction that occurred on Friday, May 5th. The shares were sold at an average price of $60.42, for a total transaction of $287,357.52. Following the transaction, the director now owns 15,124 shares in the company, valued at $913,792.08. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Timothy N. Jones sold 10,000 shares of the firm’s stock in a transaction that occurred on Wednesday, March 29th. The shares were sold at an average price of $54.20, for a total transaction of $542,000.00. Following the transaction, the insider now owns 44,139 shares in the company, valued at approximately $2,392,333.80. The disclosure for this sale can be found here. Insiders sold 48,001 shares of company stock worth $2,826,368 in the last 90 days. 2.00% of the stock is owned by company insiders.

About AMETEK

AMETEK, Inc is a manufacturer of electronic instruments and electromechanical devices with operations in North America, Europe, Asia and South America. The Company operates through two segments: Electronic Instruments (EIG) and Electromechanical (EMG). EIG designs and manufactures instruments for the process, power and industrial and aerospace markets.new TradingView.widget({ “height”: 400, “width”: 625, “symbol”: “AME”, “interval”: “D”, “timezone”: “Etc/UTC”, “theme”: “White”, “style”: “1”, “locale”: “en”, “toolbar_bg”: “#f1f3f6”, “enable_publishing”: false, “hideideas”: true, “referral_id”: “2588”});

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