Forte Capital LLC ADV Cuts Stock Holdings in AMETEK, Inc. (NYSE:AME)

Forte Capital LLC ADV decreased its holdings in shares of AMETEK, Inc. (NYSE:AME) by 2.8% during the third quarter, according to its most recent filing with the SEC. The firm owned 87,631 shares of the technology company’s stock after selling 2,560 shares during the period. AMETEK accounts for about 1.7% of Forte Capital LLC ADV’s portfolio, making the stock its 16th largest position. Forte Capital LLC ADV’s holdings in AMETEK were worth $15,047,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in AME. Washington Trust Advisors Inc. bought a new stake in shares of AMETEK in the 1st quarter valued at about $37,000. Family Firm Inc. bought a new stake in shares of AMETEK in the 2nd quarter valued at about $39,000. Industrial Alliance Investment Management Inc. bought a new stake in shares of AMETEK in the 2nd quarter valued at about $42,000. Headlands Technologies LLC bought a new stake in shares of AMETEK in the 1st quarter valued at about $43,000. Finally, Princeton Global Asset Management LLC bought a new stake in shares of AMETEK in the 3rd quarter valued at about $44,000. Hedge funds and other institutional investors own 87.43% of the company’s stock.

Wall Street Analysts Forecast Growth

AME has been the subject of a number of recent analyst reports. StockNews.com upgraded shares of AMETEK from a “hold” rating to a “buy” rating in a research note on Monday. Mizuho lifted their target price on shares of AMETEK from $190.00 to $200.00 and gave the stock an “outperform” rating in a research note on Friday, November 1st. Redburn Atlantic upgraded shares of AMETEK to a “strong-buy” rating in a research note on Friday, August 2nd. TD Cowen cut shares of AMETEK from a “hold” rating to a “sell” rating in a research note on Monday, October 7th. Finally, Royal Bank of Canada lowered their target price on shares of AMETEK from $216.00 to $215.00 and set an “outperform” rating for the company in a research note on Friday, August 2nd. One investment analyst has rated the stock with a sell rating, two have given a hold rating, six have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, AMETEK presently has a consensus rating of “Moderate Buy” and an average price target of $197.86.

AMETEK Stock Performance

Shares of NYSE AME opened at $190.41 on Thursday. The company has a current ratio of 1.39, a quick ratio of 0.84 and a debt-to-equity ratio of 0.18. AMETEK, Inc. has a 12 month low of $141.65 and a 12 month high of $192.20. The company has a 50 day simple moving average of $170.12 and a two-hundred day simple moving average of $169.06. The stock has a market cap of $44.04 billion, a price-to-earnings ratio of 33.17, a PEG ratio of 2.91 and a beta of 1.16.

AMETEK (NYSE:AME) last announced its quarterly earnings data on Thursday, October 31st. The technology company reported $1.66 EPS for the quarter, beating the consensus estimate of $1.62 by $0.04. The business had revenue of $1.71 billion during the quarter, compared to analysts’ expectations of $1.71 billion. AMETEK had a net margin of 19.27% and a return on equity of 16.88%. The business’s quarterly revenue was up 5.3% compared to the same quarter last year. During the same period in the previous year, the business posted $1.64 EPS. As a group, analysts predict that AMETEK, Inc. will post 6.81 earnings per share for the current year.

Insider Activity

In other news, Director Steven W. Kohlhagen sold 1,460 shares of AMETEK 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 completion of the transaction, the director now directly owns 23,349 shares of the company’s stock, valued at $4,006,454.91. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 0.61% of the company’s stock.

About AMETEK

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.