ARK Investment Management LLC Cuts Stock Position in AMETEK, Inc. (NYSE:AME)

ARK Investment Management LLC lessened its holdings in AMETEK, Inc. (NYSE:AMEGet Rating) by 9.1% in the second quarter, according to its most recent filing with the SEC. The institutional investor owned 33,744 shares of the technology company’s stock after selling 3,364 shares during the period. ARK Investment Management LLC’s holdings in AMETEK were worth $4,099,000 as of its most recent SEC filing.

A number of other institutional investors have also bought and sold shares of AME. Gryphon Financial Partners LLC purchased a new stake in AMETEK in the 1st quarter worth $25,000. J.W. Cole Advisors Inc. purchased a new stake in AMETEK in the 1st quarter worth $26,000. Quent Capital LLC increased its stake in AMETEK by 177.8% in the 1st quarter. Quent Capital LLC now owns 200 shares of the technology company’s stock worth $27,000 after buying an additional 128 shares in the last quarter. Covestor Ltd grew its position in shares of AMETEK by 84.3% during the first quarter. Covestor Ltd now owns 212 shares of the technology company’s stock valued at $28,000 after purchasing an additional 97 shares in the last quarter. Finally, Prospera Financial Services Inc purchased a new position in shares of AMETEK during the first quarter valued at about $29,000. Hedge funds and other institutional investors own 85.46% of the company’s stock.

AMETEK Stock Down 2.1 %

Shares of NYSE AME opened at $118.95 on Monday. The company has a debt-to-equity ratio of 0.31, a current ratio of 1.48 and a quick ratio of 0.88. The company has a market cap of $27.31 billion, a P/E ratio of 25.31, a PEG ratio of 2.31 and a beta of 1.26. AMETEK, Inc. has a 1 year low of $106.17 and a 1 year high of $148.07. The firm has a 50-day simple moving average of $121.50 and a two-hundred day simple moving average of $122.67.

AMETEK (NYSE:AMEGet Rating) last announced its quarterly earnings data on Tuesday, August 2nd. The technology company reported $1.38 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.29 by $0.09. The business had revenue of $1.51 billion during the quarter, compared to the consensus estimate of $1.46 billion. AMETEK had a net margin of 18.49% and a return on equity of 18.20%. The firm’s quarterly revenue was up 9.2% compared to the same quarter last year. During the same quarter last year, the firm earned $1.15 earnings per share. Research analysts anticipate that AMETEK, Inc. will post 5.52 earnings per share for the current year.

AMETEK Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 30th. Shareholders of record on Wednesday, September 14th will be paid a $0.22 dividend. This represents a $0.88 annualized dividend and a yield of 0.74%. The ex-dividend date is Tuesday, September 13th. AMETEK’s payout ratio is currently 18.72%.

Insiders Place Their Bets

In other AMETEK news, Director Steven W. Kohlhagen sold 3,000 shares of the firm’s stock in a transaction dated Wednesday, August 10th. The shares were sold at an average price of $126.81, for a total value of $380,430.00. Following the completion of the sale, the director now owns 45,964 shares of the company’s stock, valued at $5,828,694.84. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other news, Director Steven W. Kohlhagen sold 3,000 shares of AMETEK stock in a transaction that occurred on Wednesday, August 10th. The shares were sold at an average price of $126.81, for a total transaction of $380,430.00. Following the completion of the sale, the director now owns 45,964 shares of the company’s stock, valued at $5,828,694.84. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Steven W. Kohlhagen sold 3,100 shares of AMETEK stock in a transaction that occurred on Thursday, September 8th. The shares were sold at an average price of $123.75, for a total transaction of $383,625.00. Following the sale, the director now directly owns 42,864 shares of the company’s stock, valued at approximately $5,304,420. The disclosure for this sale can be found here. 0.72% of the stock is owned by insiders.

Analyst Ratings Changes

A number of brokerages have recently weighed in on AME. Royal Bank of Canada restated an “outperform” rating on shares of AMETEK in a research report on Wednesday, August 3rd. Mizuho raised their price objective on AMETEK from $135.00 to $140.00 and gave the company a “buy” rating in a research report on Wednesday, August 3rd. Morgan Stanley raised their price objective on AMETEK from $135.00 to $145.00 and gave the company an “overweight” rating in a research report on Wednesday, August 3rd. Loop Capital cut their price objective on AMETEK from $170.00 to $155.00 and set a “buy” rating for the company in a research report on Tuesday, July 19th. Finally, StockNews.com upgraded AMETEK from a “hold” rating to a “buy” rating in a research report on Friday. Two research analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $148.56.

About AMETEK

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AMETEK, Inc manufactures and sells electronic instruments and electromechanical devices worldwide. It operates in two segments, Electronic Instruments (EIG) and Electromechanical (EMG). 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; and instruments to the laboratory equipment, ultra-precision manufacturing, medical, and test and measurement markets.

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Institutional Ownership by Quarter for AMETEK (NYSE:AME)

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