Sequoia Financial Advisors LLC Lowers Position in AMETEK, Inc. (NYSE:AME)

Sequoia Financial Advisors LLC cut its stake in AMETEK, Inc. (NYSE:AME) by 1.4% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 5,079 shares of the technology company’s stock after selling 72 shares during the quarter. Sequoia Financial Advisors LLC’s holdings in AMETEK were worth $872,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also recently modified their holdings of AME. Washington Trust Advisors Inc. purchased a new stake in shares of AMETEK during the first quarter valued at approximately $37,000. Family Firm Inc. purchased a new stake in shares of AMETEK during the second quarter valued at approximately $39,000. Industrial Alliance Investment Management Inc. purchased a new stake in shares of AMETEK during the second quarter valued at approximately $42,000. Headlands Technologies LLC purchased a new stake in shares of AMETEK during the first quarter valued at approximately $43,000. Finally, Crewe Advisors LLC increased its position in shares of AMETEK by 168.8% during the second quarter. Crewe Advisors LLC now owns 293 shares of the technology company’s stock valued at $49,000 after acquiring an additional 184 shares during the last quarter. 87.43% of the stock is owned by hedge funds and other institutional investors.

AMETEK Price Performance

AMETEK stock opened at $166.96 on Friday. The business has a 50-day simple moving average of $168.32 and a 200 day simple moving average of $169.33. AMETEK, Inc. has a 52 week low of $136.89 and a 52 week high of $186.32. The company has a quick ratio of 0.76, a current ratio of 1.26 and a debt-to-equity ratio of 0.20. The stock has a market cap of $38.65 billion, a price-to-earnings ratio of 29.34, a PEG ratio of 2.77 and a beta of 1.17.

AMETEK (NYSE:AME) last released its quarterly earnings results on Thursday, August 1st. The technology company reported $1.66 EPS for the quarter, beating analysts’ consensus estimates of $1.64 by $0.02. The business had revenue of $1.73 billion during the quarter, compared to analyst estimates of $1.78 billion. AMETEK had a return on equity of 17.41% and a net margin of 19.51%. AMETEK’s quarterly revenue was up 5.4% compared to the same quarter last year. During the same quarter in the prior year, the company posted $1.57 EPS. On average, research analysts forecast that AMETEK, Inc. will post 6.76 earnings per share for the current fiscal year.

AMETEK Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, September 30th. Stockholders of record on Monday, September 16th were given a $0.28 dividend. This represents a $1.12 annualized dividend and a dividend yield of 0.67%. The ex-dividend date was Monday, September 16th. AMETEK’s dividend payout ratio is currently 19.68%.

Wall Street Analyst Weigh In

AME has been the subject of a number of research analyst reports. Mizuho increased their price target on AMETEK from $180.00 to $190.00 and gave the company an “outperform” rating in a research report on Thursday, October 17th. Redburn Atlantic raised AMETEK to a “strong-buy” rating in a report on Friday, August 2nd. Wolfe Research raised AMETEK to a “hold” rating in a report on Wednesday, September 18th. Robert W. Baird reduced their price objective on AMETEK from $171.00 to $166.00 and set a “neutral” rating for the company in a report on Wednesday, August 7th. Finally, TD Cowen lowered AMETEK from a “hold” rating to a “sell” rating in a report on Monday, October 7th. One investment analyst has rated the stock with a sell rating, three have given a hold rating, five have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $193.29.

Insider Transactions at AMETEK

In other news, Director Steven W. Kohlhagen sold 1,460 shares of the stock in a transaction that occurred on Wednesday, September 25th. The stock was sold at an average price of $171.59, for a total value of $250,521.40. Following the completion of the transaction, the director now owns 23,349 shares of the company’s stock, valued at approximately $4,006,454.91. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 0.61% of the company’s stock.

About AMETEK

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.