Miles Capital Inc. Takes $274,000 Position in AMETEK, Inc. (NYSE:AME)

Miles Capital Inc. purchased a new stake in AMETEK, Inc. (NYSE:AME) in the second quarter, HoldingsChannel reports. The firm purchased 3,017 shares of the technology company’s stock, valued at approximately $274,000.

Several other hedge funds have also recently made changes to their positions in AME. Cornerstone Advisors Inc. increased its position in AMETEK by 55.2% during the 1st quarter. Cornerstone Advisors Inc. now owns 388 shares of the technology company’s stock worth $32,000 after purchasing an additional 138 shares in the last quarter. Berman Capital Advisors LLC increased its position in AMETEK by 51.3% during the 2nd quarter. Berman Capital Advisors LLC now owns 454 shares of the technology company’s stock worth $41,000 after purchasing an additional 154 shares in the last quarter. Ibex Wealth Advisors purchased a new stake in AMETEK during the 2nd quarter worth about $52,000. Legacy Advisors LLC purchased a new stake in AMETEK during the 2nd quarter worth about $55,000. Finally, SRS Capital Advisors Inc. purchased a new stake in AMETEK during the 2nd quarter worth about $68,000. Institutional investors and hedge funds own 86.10% of the company’s stock.

AME traded up $0.82 during midday trading on Friday, hitting $90.64. The company’s stock had a trading volume of 40,257 shares, compared to its average volume of 1,051,397. The company has a current ratio of 2.17, a quick ratio of 1.53 and a debt-to-equity ratio of 0.51. The firm has a market cap of $20.19 billion, a P/E ratio of 27.60, a PEG ratio of 2.26 and a beta of 1.21. The firm has a 50-day moving average price of $86.55 and a two-hundred day moving average price of $85.46. AMETEK, Inc. has a 52-week low of $63.14 and a 52-week high of $92.30.

AMETEK (NYSE:AME) last posted its quarterly earnings results on Tuesday, July 30th. The technology company reported $1.05 EPS for the quarter, beating the consensus estimate of $1.03 by $0.02. The company had revenue of $1.29 billion during the quarter, compared to analysts’ expectations of $1.32 billion. AMETEK had a return on equity of 19.27% and a net margin of 16.32%. The firm’s revenue was up 6.7% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.83 EPS. On average, equities analysts expect that AMETEK, Inc. will post 4.1 EPS for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Monday, September 30th. Shareholders of record on Monday, September 16th will be issued a $0.14 dividend. This represents a $0.56 annualized dividend and a yield of 0.62%. The ex-dividend date is Friday, September 13th. AMETEK’s dividend payout ratio (DPR) is 17.02%.

AME has been the subject of a number of recent research reports. Oppenheimer lifted their price objective on AMETEK from $94.00 to $100.00 and gave the stock an “outperform” rating in a research report on Wednesday, July 31st. Morgan Stanley lifted their price objective on AMETEK from $95.00 to $97.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 31st. KeyCorp lifted their price objective on AMETEK from $94.00 to $100.00 in a research report on Wednesday, July 31st. Royal Bank of Canada set a $95.00 price objective on AMETEK and gave the stock a “buy” rating in a research report on Wednesday, July 31st. Finally, Zacks Investment Research upgraded AMETEK from a “hold” rating to a “buy” rating and set a $90.00 price objective for the company in a research report on Thursday, June 13th. One research analyst has rated the stock with a hold rating and thirteen have assigned a buy rating to the company. The stock presently has an average rating of “Buy” and an average target price of $94.36.

In other AMETEK news, CFO William Joseph Burke sold 16,322 shares of AMETEK stock in a transaction dated Tuesday, June 18th. The stock was sold at an average price of $86.51, for a total value of $1,412,016.22. Following the completion of the sale, the chief financial officer now owns 86,727 shares in the company, valued at approximately $7,502,752.77. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Elizebeth R. Varet sold 2,000 shares of AMETEK stock in a transaction dated Monday, June 17th. The shares were sold at an average price of $84.90, for a total value of $169,800.00. Following the completion of the sale, the director now owns 99,670 shares of the company’s stock, valued at approximately $8,461,983. The disclosure for this sale can be found here. Insiders sold a total of 32,250 shares of company stock valued at $2,797,956 in the last 90 days. 0.80% of the stock is owned by company insiders.

About AMETEK

AMETEK, Inc manufactures and sells electronic instruments and electromechanical devices worldwide. The company's Electronic Instruments segment offers advanced instruments for the process, aerospace, power, and industrial markets; process control 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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