Waratah Capital Advisors Ltd. Grows Stake in AMETEK, Inc. (NYSE:AME)

Waratah Capital Advisors Ltd. raised its holdings in AMETEK, Inc. (NYSE:AME) by 181.8% during the third quarter, Holdings Channel.com reports. The institutional investor owned 112,867 shares of the technology company’s stock after buying an additional 72,816 shares during the quarter. AMETEK accounts for about 1.2% of Waratah Capital Advisors Ltd.’s investment portfolio, making the stock its 29th largest holding. Waratah Capital Advisors Ltd.’s holdings in AMETEK were worth $10,363,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also bought and sold shares of the company. Vanguard Group Inc. boosted its holdings in AMETEK by 1.7% in the second quarter. Vanguard Group Inc. now owns 24,128,928 shares of the technology company’s stock worth $2,191,872,000 after purchasing an additional 396,995 shares during the last quarter. BlackRock Inc. grew its stake in shares of AMETEK by 1.3% in the 2nd quarter. BlackRock Inc. now owns 15,418,675 shares of the technology company’s stock valued at $1,400,633,000 after purchasing an additional 204,374 shares during the last quarter. Massachusetts Financial Services Co. MA grew its stake in shares of AMETEK by 1.2% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 6,610,756 shares of the technology company’s stock valued at $607,001,000 after purchasing an additional 76,480 shares during the last quarter. JPMorgan Chase & Co. raised its stake in shares of AMETEK by 18.1% during the second quarter. JPMorgan Chase & Co. now owns 4,896,915 shares of the technology company’s stock worth $432,202,000 after purchasing an additional 749,865 shares during the last quarter. Finally, Mawer Investment Management Ltd. lifted its holdings in shares of AMETEK by 8.4% during the second quarter. Mawer Investment Management Ltd. now owns 3,234,280 shares of the technology company’s stock worth $293,710,000 after purchasing an additional 251,218 shares during the period. 86.26% of the stock is currently owned by hedge funds and other institutional investors.

Several analysts have recently commented on AME shares. KeyCorp raised their target price on shares of AMETEK from $100.00 to $110.00 and gave the stock an “overweight” rating in a research note on Tuesday, November 19th. ValuEngine raised AMETEK from a “sell” rating to a “hold” rating in a report on Friday, November 1st. Morgan Stanley set a $102.00 price objective on shares of AMETEK and gave the company a “buy” rating in a research note on Friday, November 1st. Gordon Haskett began coverage on shares of AMETEK in a report on Wednesday, November 27th. They set a “buy” rating and a $125.00 target price for the company. Finally, Bank of America downgraded AMETEK from a “buy” rating to a “neutral” rating and cut their price objective for the stock from $105.00 to $95.00 in a research report on Friday, October 11th. Two analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. AMETEK currently has an average rating of “Buy” and an average target price of $100.29.

In other news, insider Thomas C. Marecic sold 13,990 shares of the company’s stock in a transaction dated Monday, November 4th. The stock was sold at an average price of $95.02, for a total value of $1,329,329.80. Following the completion of the sale, the insider now owns 36,014 shares of the company’s stock, valued at $3,422,050.28. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CFO William Joseph Burke sold 12,510 shares of the stock in a transaction dated Tuesday, November 19th. The shares were sold at an average price of $98.51, for a total value of $1,232,360.10. Following the completion of the sale, the chief financial officer now owns 81,526 shares of the company’s stock, valued at approximately $8,031,126.26. The disclosure for this sale can be found here. In the last three months, insiders sold 49,070 shares of company stock worth $4,745,902. Insiders own 0.80% of the company’s stock.

AME traded down $0.87 on Tuesday, reaching $96.67. 21,392 shares of the company’s stock were exchanged, compared to its average volume of 1,056,538. The company’s 50 day moving average is $94.33 and its 200-day moving average is $89.17. The company has a market cap of $22.63 billion, a price-to-earnings ratio of 29.34, a PEG ratio of 2.19 and a beta of 1.23. AMETEK, Inc. has a twelve month low of $63.14 and a twelve month high of $99.74. The company has a debt-to-equity ratio of 0.46, a quick ratio of 1.48 and a current ratio of 2.05.

AMETEK (NYSE:AME) last announced its quarterly earnings results on Thursday, October 31st. The technology company reported $1.06 earnings per share for the quarter, beating analysts’ consensus estimates of $1.01 by $0.05. AMETEK had a net margin of 16.63% and a return on equity of 20.04%. The firm had revenue of $1.28 billion for the quarter, compared to analysts’ expectations of $1.28 billion. During the same period in the previous year, the company posted $0.91 earnings per share. AMETEK’s revenue was up 7.0% compared to the same quarter last year. Sell-side analysts forecast that AMETEK, Inc. will post 4.14 EPS for the current year.

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 20th. Stockholders of record on Friday, December 6th will be given a $0.14 dividend. This represents a $0.56 annualized dividend and a dividend yield of 0.58%. The ex-dividend date of this dividend is Thursday, December 5th. AMETEK’s payout ratio is currently 17.02%.

AMETEK Profile

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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