AMETEK, Inc. (NYSE:AME) Shares Sold by Citigroup Inc.

Citigroup Inc. decreased its position in AMETEK, Inc. (NYSE:AME) by 26.4% in the 3rd quarter, Holdings Channel reports. The fund owned 147,781 shares of the technology company’s stock after selling 53,099 shares during the period. Citigroup Inc.’s holdings in AMETEK were worth $25,375,000 as of its most recent SEC filing.

Other hedge funds also recently made changes to their positions in the company. Raymond James Trust N.A. grew its holdings in AMETEK by 4.9% during the 3rd quarter. Raymond James Trust N.A. now owns 9,935 shares of the technology company’s stock valued at $1,706,000 after purchasing an additional 467 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its position in AMETEK by 1.5% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,291,649 shares of the technology company’s stock valued at $221,789,000 after buying an additional 19,435 shares during the last quarter. Pacer Advisors Inc. grew its stake in shares of AMETEK by 21.3% during the third quarter. Pacer Advisors Inc. now owns 47,469 shares of the technology company’s stock valued at $8,151,000 after acquiring an additional 8,347 shares in the last quarter. Primecap Management Co. CA increased its position in shares of AMETEK by 1.0% during the third quarter. Primecap Management Co. CA now owns 355,900 shares of the technology company’s stock worth $61,112,000 after acquiring an additional 3,500 shares during the last quarter. Finally, King Luther Capital Management Corp lifted its stake in shares of AMETEK by 8.3% in the third quarter. King Luther Capital Management Corp now owns 106,833 shares of the technology company’s stock worth $18,344,000 after acquiring an additional 8,195 shares in the last quarter. Hedge funds and other institutional investors own 87.43% of the company’s stock.

Insider Buying and Selling

In other news, insider David F. Hermance sold 6,243 shares of the business’s stock in a transaction that occurred on Friday, November 8th. The stock was sold at an average price of $190.99, for a total transaction of $1,192,350.57. Following the completion of the transaction, the insider now directly owns 36,731 shares in the company, valued at approximately $7,015,253.69. The trade was a 14.53 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Tony J. Ciampitti sold 16,210 shares of the firm’s stock in a transaction that occurred on Friday, November 22nd. The shares were sold at an average price of $197.01, for a total value of $3,193,532.10. Following the completion of the sale, the insider now owns 49,490 shares in the company, valued at approximately $9,750,024.90. This represents a 24.67 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 23,913 shares of company stock valued at $4,636,404 in the last quarter. Company insiders own 0.61% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on AME shares. StockNews.com downgraded AMETEK from a “buy” rating to a “hold” rating in a report on Friday, November 15th. Robert W. Baird upped their price target on shares of AMETEK from $166.00 to $186.00 and gave the company a “neutral” rating in a report on Monday, November 4th. Redburn Atlantic raised shares of AMETEK to a “strong-buy” rating in a report on Friday, August 2nd. Wolfe Research upgraded shares of AMETEK to a “hold” rating in a research note on Wednesday, September 18th. Finally, Royal Bank of Canada decreased their price target on AMETEK from $216.00 to $215.00 and set an “outperform” rating for the company in a research note on Friday, August 2nd. One research analyst has rated the stock with a sell rating, three have given a hold rating, five have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $199.29.

AMETEK Stock Performance

Shares of NYSE AME opened at $197.12 on Tuesday. The company has a quick ratio of 0.84, a current ratio of 1.39 and a debt-to-equity ratio of 0.18. The firm’s 50-day moving average price is $177.04 and its two-hundred day moving average price is $170.91. AMETEK, Inc. has a 52-week low of $149.03 and a 52-week high of $198.33. The stock has a market capitalization of $45.60 billion, a P/E ratio of 34.34, a P/E/G ratio of 3.22 and a beta of 1.16.

AMETEK (NYSE:AME) last announced its quarterly earnings results on Thursday, October 31st. The technology company reported $1.66 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.62 by $0.04. The business had revenue of $1.71 billion for the quarter, compared to the consensus estimate of $1.71 billion. AMETEK had a return on equity of 16.88% and a net margin of 19.27%. The business’s revenue was up 5.3% on a year-over-year basis. During the same quarter last year, the business posted $1.64 EPS. As a group, sell-side analysts forecast that AMETEK, Inc. will post 6.8 earnings per share for the current year.

AMETEK Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, December 20th. Stockholders of record on Friday, December 6th will be given a dividend of $0.28 per share. The ex-dividend date of this dividend is Friday, December 6th. This represents a $1.12 annualized dividend and a dividend yield of 0.57%. AMETEK’s dividend payout ratio is currently 19.51%.

AMETEK Profile

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.