Brown Advisory Inc. Trims Position in AMETEK, Inc. (AME)

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Brown Advisory Inc. lowered its position in shares of AMETEK, Inc. (NYSE:AME) by 12.9% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 35,135 shares of the technology company’s stock after selling 5,209 shares during the period. Brown Advisory Inc.’s holdings in AMETEK were worth $2,379,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently modified their holdings of AME. Vanguard Group Inc. grew its position in shares of AMETEK by 0.6% in the 3rd quarter. Vanguard Group Inc. now owns 23,495,237 shares of the technology company’s stock valued at $1,858,943,000 after buying an additional 137,102 shares during the last quarter. Vanguard Group Inc grew its position in shares of AMETEK by 0.6% in the 3rd quarter. Vanguard Group Inc now owns 23,495,237 shares of the technology company’s stock valued at $1,858,943,000 after buying an additional 137,102 shares during the last quarter. FMR LLC grew its position in shares of AMETEK by 4.3% in the 3rd quarter. FMR LLC now owns 8,902,761 shares of the technology company’s stock valued at $704,386,000 after buying an additional 366,654 shares during the last quarter. Massachusetts Financial Services Co. MA grew its position in shares of AMETEK by 5.5% in the 4th quarter. Massachusetts Financial Services Co. MA now owns 5,833,525 shares of the technology company’s stock valued at $394,929,000 after buying an additional 303,284 shares during the last quarter. Finally, Capital Research Global Investors grew its position in shares of AMETEK by 8.4% in the 3rd quarter. Capital Research Global Investors now owns 4,201,829 shares of the technology company’s stock valued at $332,449,000 after buying an additional 324,969 shares during the last quarter. Institutional investors and hedge funds own 85.02% of the company’s stock.

In related news, Director Elizebeth R. Varet sold 1,950 shares of the company’s stock in a transaction that occurred on Tuesday, September 10th. The stock was sold at an average price of $78.38, for a total transaction of $152,841.00. Following the transaction, the director now directly owns 104,810 shares of the company’s stock, valued at approximately $8,215,007.80. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Director Elizebeth R. Varet sold 4,050 shares of the company’s stock in a transaction that occurred on Saturday, September 7th. The stock was sold at an average price of $78.65, for a total value of $318,532.50. Following the transaction, the director now directly owns 104,810 shares in the company, valued at $8,243,306.50. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 111,069 shares of company stock worth $8,816,614. 0.80% of the stock is owned by corporate insiders.

Shares of AMETEK stock opened at $81.09 on Wednesday. AMETEK, Inc. has a one year low of $63.14 and a one year high of $82.32. The company has a debt-to-equity ratio of 0.54, a quick ratio of 0.96 and a current ratio of 1.46. The stock has a market cap of $18.60 billion, a P/E ratio of 24.85, a price-to-earnings-growth ratio of 2.16 and a beta of 1.20.

AMETEK (NYSE:AME) last announced its earnings results on Tuesday, February 5th. The technology company reported $0.86 EPS for the quarter, beating the consensus estimate of $0.84 by $0.02. AMETEK had a return on equity of 17.72% and a net margin of 16.05%. The company had revenue of $1.27 billion for the quarter, compared to analyst estimates of $1.26 billion. During the same quarter in the prior year, the company earned $0.70 EPS. The firm’s revenue for the quarter was up 11.1% compared to the same quarter last year. Equities research analysts expect that AMETEK, Inc. will post 3.95 earnings per share for the current fiscal year.

AMETEK declared that its board has authorized a share repurchase program on Wednesday, February 13th that permits the company to buyback $500.00 million in outstanding shares. This buyback authorization permits the technology company to repurchase up to 2.8% of its shares through open market purchases. Shares buyback programs are generally an indication that the company’s board believes its shares are undervalued.

The firm also recently announced a quarterly dividend, which will be paid on Friday, March 29th. Investors of record on Friday, March 15th will be given a dividend of $0.14 per share. The ex-dividend date of this dividend is Thursday, March 14th. This represents a $0.56 annualized dividend and a dividend yield of 0.69%. AMETEK’s payout ratio is 17.02%.

AME has been the topic of a number of analyst reports. Zacks Investment Research upgraded AMETEK from a “hold” rating to a “buy” rating and set a $84.00 price target on the stock in a research report on Friday, February 8th. Royal Bank of Canada reiterated a “buy” rating and issued a $82.00 price target on shares of AMETEK in a research report on Wednesday, December 19th. DA Davidson upped their price target on AMETEK to $92.00 and gave the company a “buy” rating in a research report on Friday, March 15th. BMO Capital Markets reiterated a “buy” rating and issued a $90.00 price target on shares of AMETEK in a research report on Tuesday, January 29th. Finally, Wolfe Research upgraded AMETEK from a “market perform” rating to an “outperform” rating in a research report on Tuesday, January 8th. Twelve equities research analysts have rated the stock with a buy rating, AMETEK currently has a consensus rating of “Buy” and a consensus price target of $86.80.

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AMETEK Company 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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