AMETEK, Inc. $AME Stock Position Lessened by Fifth Third Bancorp

Fifth Third Bancorp trimmed its position in AMETEK, Inc. (NYSE:AME) by 4.3% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 80,486 shares of the technology company’s stock after selling 3,575 shares during the quarter. Fifth Third Bancorp’s holdings in AMETEK were worth $19,939,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds also recently made changes to their positions in the company. QRG Capital Management Inc. grew its holdings in AMETEK by 1,002.4% in the 2nd quarter. QRG Capital Management Inc. now owns 132,612 shares of the technology company’s stock worth $32,084,000 after acquiring an additional 120,583 shares during the last quarter. National Pension Service increased its position in shares of AMETEK by 1.6% in the second quarter. National Pension Service now owns 338,990 shares of the technology company’s stock valued at $82,015,000 after acquiring an additional 5,382 shares during the period. MassMutual Private Wealth & Trust FSB increased its position in shares of AMETEK by 450.1% in the third quarter. MassMutual Private Wealth & Trust FSB now owns 6,612 shares of the technology company’s stock valued at $1,638,000 after acquiring an additional 5,410 shares during the period. Groupe la Francaise boosted its holdings in shares of AMETEK by 15.6% during the second quarter. Groupe la Francaise now owns 154,326 shares of the technology company’s stock worth $37,361,000 after purchasing an additional 20,780 shares during the period. Finally, Citizens Financial Group Inc. RI grew its stake in shares of AMETEK by 190.1% in the third quarter. Citizens Financial Group Inc. RI now owns 8,397 shares of the technology company’s stock worth $2,080,000 after purchasing an additional 5,502 shares during the last quarter. 87.43% of the stock is owned by hedge funds and other institutional investors.

AMETEK Stock Performance

Shares of AME opened at $242.20 on Friday. The company has a 50-day simple moving average of $243.49 and a two-hundred day simple moving average of $235.10. The company has a debt-to-equity ratio of 0.52, a current ratio of 1.43 and a quick ratio of 0.91. The firm has a market capitalization of $55.54 billion, a PE ratio of 34.16, a price-to-earnings-growth ratio of 2.15 and a beta of 0.96. AMETEK, Inc. has a one year low of $188.47 and a one year high of $261.16.

AMETEK (NYSE:AME) last posted its earnings results on Tuesday, November 3rd. The technology company reported $2.21 earnings per share for the quarter, topping analysts’ consensus estimates of $2.11 by $0.10. AMETEK had a return on equity of 17.12% and a net margin of 19.91%. The firm had revenue of $2.22 billion for the quarter, compared to the consensus estimate of $2.12 billion. During the same quarter in the prior year, the business earned $1.89 EPS. The business’s revenue for the quarter was up 17.3% on a year-over-year basis. On average, analysts anticipate that AMETEK, Inc. will post 8.57 EPS for the current fiscal year.

AMETEK Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, December 18th. Investors of record on Friday, December 4th will be paid a $0.34 dividend. This represents a $1.36 annualized dividend and a yield of 0.6%. The ex-dividend date of this dividend is Friday, December 4th. AMETEK’s dividend payout ratio is presently 19.18%.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on AME. Morgan Stanley set a $275.00 price target on AMETEK in a report on Friday, October 9th. Zacks Research upgraded AMETEK from a “hold” rating to a “strong-buy” rating in a report on Tuesday, October 6th. Deutsche Bank lifted their price objective on AMETEK from $288.00 to $318.00 and gave the stock a “buy” rating in a research report on Wednesday, September 30th. BNP Paribas Exane boosted their target price on AMETEK from $280.00 to $290.00 and gave the company an “outperform” rating in a research note on Friday, September 11th. Finally, Citigroup boosted their target price on AMETEK from $263.00 to $270.00 and gave the company a “neutral” rating in a research note on Wednesday, November 4th. One equities research analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating and five have given a Hold rating to the company’s stock. Based on data from MarketBeat, AMETEK currently has an average rating of “Moderate Buy” and an average price target of $278.88.

AMETEK Profile

AMETEK, Inc. is a global manufacturer of electronic instruments and electromechanical products. Its businesses serve a range of markets, including aerospace, energy, industrial manufacturing, medical, and transportation. The company’s products include analytical and process instruments, monitoring and measurement systems, aerospace components, precision motors and pumps, and engineered materials. AMETEK organizes its operations into two groups: Electronic Instruments and Electromechanical. Founded in 1930, AMETEK serves customers around the world through manufacturing facilities, sales offices, and service operations in multiple countries.