JLB & Associates Inc. Reduces Stock Position in AMETEK, Inc. (NYSE:AME)

JLB & Associates Inc. cut its position in AMETEK, Inc. (NYSE:AME) by 1.3% during the third quarter, according to its most recent Form 13F filing with the SEC. The firm owned 88,891 shares of the technology company’s stock after selling 1,215 shares during the period. AMETEK makes up 1.6% of JLB & Associates Inc.’s holdings, making the stock its 27th largest position. JLB & Associates Inc.’s holdings in AMETEK were worth $8,835,000 at the end of the most recent quarter.

Other large investors have also recently made changes to their positions in the company. IFM Investors Pty Ltd boosted its position in AMETEK by 12.2% in the third quarter. IFM Investors Pty Ltd now owns 19,388 shares of the technology company’s stock valued at $1,927,000 after buying an additional 2,104 shares during the last quarter. Raymond James Trust N.A. lifted its stake in AMETEK by 1.4% during the 3rd quarter. Raymond James Trust N.A. now owns 11,437 shares of the technology company’s stock valued at $1,136,000 after acquiring an additional 161 shares during the period. Norway Savings Bank purchased a new stake in shares of AMETEK in the 3rd quarter valued at $50,000. Boston Trust Walden Corp increased its stake in shares of AMETEK by 0.3% in the third quarter. Boston Trust Walden Corp now owns 62,995 shares of the technology company’s stock worth $6,262,000 after acquiring an additional 175 shares during the period. Finally, Ferguson Wellman Capital Management Inc. raised its holdings in shares of AMETEK by 2.1% during the third quarter. Ferguson Wellman Capital Management Inc. now owns 224,775 shares of the technology company’s stock worth $22,343,000 after purchasing an additional 4,654 shares during the last quarter. Hedge funds and other institutional investors own 85.52% of the company’s stock.

AMETEK stock traded up $0.84 during trading on Friday, hitting $109.85. The company had a trading volume of 1,475,830 shares, compared to its average volume of 1,414,616. The company has a current ratio of 2.47, a quick ratio of 1.86 and a debt-to-equity ratio of 0.50. The stock has a market cap of $25.22 billion, a price-to-earnings ratio of 28.46, a price-to-earnings-growth ratio of 3.99 and a beta of 1.28. AMETEK, Inc. has a 1-year low of $54.82 and a 1-year high of $110.82. The company’s 50 day simple moving average is $101.32 and its 200-day simple moving average is $91.08.

AMETEK (NYSE:AME) last released its earnings results on Tuesday, August 4th. The technology company reported $0.84 earnings per share for the quarter, beating the consensus estimate of $0.73 by $0.11. The company had revenue of $1.01 billion during the quarter, compared to the consensus estimate of $988.87 million. AMETEK had a return on equity of 17.13% and a net margin of 18.52%. AMETEK’s revenue was down 21.6% compared to the same quarter last year. During the same period in the previous year, the company posted $1.05 EPS. As a group, analysts forecast that AMETEK, Inc. will post 3.76 earnings per share for the current fiscal year.

The firm also recently announced a quarterly dividend, which was paid on Wednesday, September 30th. Investors of record on Monday, September 14th were paid a dividend of $0.18 per share. This represents a $0.72 annualized dividend and a yield of 0.66%. The ex-dividend date was Friday, September 11th. AMETEK’s payout ratio is currently 17.18%.

In other AMETEK news, CEO David A. Zapico sold 44,740 shares of the company’s stock in a transaction dated Friday, August 14th. The stock was sold at an average price of $100.87, for a total transaction of $4,512,923.80. Following the sale, the chief executive officer now owns 238,153 shares in the company, valued at approximately $24,022,493.11. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Ronald J. Oscher sold 8,000 shares of the stock in a transaction dated Wednesday, August 5th. The shares were sold at an average price of $96.19, for a total value of $769,520.00. Following the completion of the sale, the insider now directly owns 36,849 shares in the company, valued at approximately $3,544,505.31. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 123,849 shares of company stock worth $12,488,958. 0.74% of the stock is owned by insiders.

Several brokerages have weighed in on AME. Wells Fargo & Company increased their price target on AMETEK from $110.00 to $115.00 and gave the stock an “overweight” rating in a research report on Wednesday, August 5th. Morgan Stanley upped their target price on AMETEK from $105.00 to $112.00 and gave the stock an “overweight” rating in a research note on Tuesday, October 13th. Zacks Investment Research upgraded AMETEK from a “hold” rating to a “buy” rating and set a $98.00 price target for the company in a research report on Thursday, July 16th. Finally, KeyCorp upped their price objective on AMETEK from $112.00 to $118.00 and gave the stock an “overweight” rating in a research report on Wednesday. Four analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. The company presently has a consensus rating of “Buy” and a consensus price target of $104.54.

AMETEK Profile

AMETEK, Inc manufactures and sells electronic instruments and electromechanical devices worldwide. It operates through two segments, Electronic Instruments (EIG) and Electromechanical (EMG). 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; 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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