Janney Montgomery Scott LLC Cuts Stock Holdings in AMETEK, Inc. (NYSE:AME)

Janney Montgomery Scott LLC reduced its position in shares of AMETEK, Inc. (NYSE:AME) by 2.2% in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 130,602 shares of the technology company’s stock after selling 2,918 shares during the period. Janney Montgomery Scott LLC owned approximately 0.06% of AMETEK worth $22,426,000 as of its most recent SEC filing.

Several other large investors have also recently added to or reduced their stakes in AME. Washington Trust Advisors Inc. purchased a new position in AMETEK during the first quarter worth about $37,000. Family Firm Inc. acquired a new position in AMETEK during the second quarter worth about $39,000. Industrial Alliance Investment Management Inc. acquired a new position in AMETEK during the second quarter worth about $42,000. Headlands Technologies LLC acquired a new position in AMETEK during the first quarter worth about $43,000. Finally, Princeton Global Asset Management LLC acquired a new position in AMETEK during the third quarter worth about $44,000. 87.43% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other AMETEK news, Director Steven W. Kohlhagen sold 1,460 shares of the stock in a transaction that occurred on Wednesday, September 25th. The shares were sold at an average price of $171.59, for a total transaction of $250,521.40. Following the transaction, the director now owns 23,349 shares of the company’s stock, valued at $4,006,454.91. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 0.61% of the stock is currently owned by insiders.

AMETEK Stock Up 0.8 %

Shares of NYSE AME opened at $179.92 on Tuesday. AMETEK, Inc. has a 1 year low of $141.65 and a 1 year high of $186.32. The firm’s 50 day moving average price is $169.41 and its 200 day moving average price is $168.88. The firm has a market cap of $41.66 billion, a P/E ratio of 31.34, a price-to-earnings-growth ratio of 3.01 and a beta of 1.16. The company has a debt-to-equity ratio of 0.18, a quick ratio of 0.76 and a current ratio of 1.39.

AMETEK (NYSE:AME) last announced its earnings results on Thursday, October 31st. The technology company reported $1.66 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.62 by $0.04. AMETEK had a net margin of 19.27% and a return on equity of 16.88%. The firm had revenue of $1.71 billion for the quarter, compared to analyst estimates of $1.71 billion. During the same quarter last year, the business earned $1.64 earnings per share. AMETEK’s revenue was up 5.3% compared to the same quarter last year. As a group, sell-side analysts anticipate that AMETEK, Inc. will post 6.76 earnings per share for the current year.

AMETEK Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, September 30th. Shareholders of record on Monday, September 16th were paid a dividend of $0.28 per share. This represents a $1.12 dividend on an annualized basis and a yield of 0.62%. The ex-dividend date of this dividend was Monday, September 16th. AMETEK’s dividend payout ratio is currently 19.51%.

Wall Street Analyst Weigh In

Several brokerages have weighed in on AME. Wolfe Research upgraded shares of AMETEK to a “hold” rating in a research report on Wednesday, September 18th. 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. StockNews.com upgraded shares of AMETEK from a “hold” rating to a “buy” rating in a research report on Monday. Robert W. Baird upped their target price on shares of AMETEK from $166.00 to $186.00 and gave the stock a “neutral” rating in a research report on Monday. Finally, TD Cowen lowered shares of AMETEK from a “hold” rating to a “sell” rating in a research report on Monday, October 7th. One research analyst has rated the stock with a sell rating, two have given a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $197.86.

AMETEK Company 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.