Pacer Advisors Inc. Purchases 8,347 Shares of AMETEK, Inc. (NYSE:AME)

Pacer Advisors Inc. lifted its position in AMETEK, Inc. (NYSE:AME) by 21.3% in the 3rd quarter, Holdings Channel.com reports. The fund owned 47,469 shares of the technology company’s stock after acquiring an additional 8,347 shares during the period. Pacer Advisors Inc.’s holdings in AMETEK were worth $8,151,000 at the end of the most recent quarter.

Several other hedge funds also recently added to or reduced their stakes in AME. EverSource Wealth Advisors LLC raised its holdings in shares of AMETEK by 7.3% in the first quarter. EverSource Wealth Advisors LLC now owns 899 shares of the technology company’s stock worth $157,000 after buying an additional 61 shares during the period. MorganRosel Wealth Management LLC lifted its position in shares of AMETEK by 1.6% during the second quarter. MorganRosel Wealth Management LLC now owns 3,886 shares of the technology company’s stock worth $648,000 after purchasing an additional 61 shares during the last quarter. Commerzbank Aktiengesellschaft FI boosted its stake in shares of AMETEK by 4.8% during the second quarter. Commerzbank Aktiengesellschaft FI now owns 1,340 shares of the technology company’s stock valued at $224,000 after purchasing an additional 61 shares during the period. First Horizon Advisors Inc. grew its holdings in shares of AMETEK by 2.4% in the second quarter. First Horizon Advisors Inc. now owns 2,639 shares of the technology company’s stock worth $440,000 after purchasing an additional 62 shares during the last quarter. Finally, Checchi Capital Advisers LLC increased its stake in AMETEK by 2.9% in the 2nd quarter. Checchi Capital Advisers LLC now owns 2,225 shares of the technology company’s stock worth $371,000 after buying an additional 63 shares during the period. 87.43% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of brokerages have commented on AME. KeyCorp upped their target price on shares of AMETEK from $205.00 to $215.00 and gave the stock an “overweight” rating in a research note on Friday. TD Cowen downgraded AMETEK from a “hold” rating to a “sell” rating in a report on Monday, October 7th. Redburn Atlantic upgraded AMETEK to a “strong-buy” rating in a report on Friday, August 2nd. Royal Bank of Canada cut their price target on AMETEK from $216.00 to $215.00 and set an “outperform” rating on the stock in a research note on Friday, August 2nd. Finally, Mizuho lifted their price objective on AMETEK from $190.00 to $200.00 and gave the company an “outperform” rating in a report on Friday, November 1st. One equities research analyst has rated the stock with a sell rating, three have given a hold rating, five 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 a consensus target price of $199.29.

Insiders Place Their Bets

In related news, insider David F. Hermance sold 6,243 shares of the business’s stock in a transaction on Friday, November 8th. The stock was sold at an average price of $190.99, for a total transaction of $1,192,350.57. Following the transaction, the insider now directly owns 36,731 shares in the company, valued at $7,015,253.69. The trade was a 14.53 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Steven W. Kohlhagen sold 1,460 shares of the stock in a transaction dated Wednesday, September 25th. The shares were sold at an average price of $171.59, for a total value of $250,521.40. Following the completion of the sale, the director now owns 23,349 shares of the company’s stock, valued at approximately $4,006,454.91. This trade represents a 5.88 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 0.61% of the company’s stock.

AMETEK Trading Up 0.8 %

Shares of NYSE AME opened at $197.38 on Friday. AMETEK, Inc. has a 1-year low of $149.03 and a 1-year high of $197.83. The business has a fifty day moving average price of $176.46 and a 200 day moving average price of $170.71. The stock has a market capitalization of $45.66 billion, a P/E ratio of 34.39, a price-to-earnings-growth ratio of 3.19 and a beta of 1.16. The company has a debt-to-equity ratio of 0.18, a current ratio of 1.39 and a quick ratio of 0.84.

AMETEK (NYSE:AME) last announced its earnings results on Thursday, October 31st. The technology company reported $1.66 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 business had revenue of $1.71 billion during the quarter, compared to the consensus estimate of $1.71 billion. During the same period in the previous year, the company posted $1.64 earnings per share. The firm’s revenue was up 5.3% on a year-over-year basis. Equities research analysts expect that AMETEK, Inc. will post 6.8 EPS for the current fiscal year.

AMETEK Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, December 20th. Shareholders of record on Friday, December 6th will be paid a $0.28 dividend. The ex-dividend date of this dividend is Friday, December 6th. This represents a $1.12 annualized dividend and a yield of 0.57%. AMETEK’s dividend payout ratio (DPR) is 19.51%.

AMETEK 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.