Capital Investment Counsel Inc Has $412,000 Holdings in AMETEK, Inc. (NYSE:AME)

Capital Investment Counsel Inc cut its stake in shares of AMETEK, Inc. (NYSE:AME) by 4.0% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 2,400 shares of the technology company’s stock after selling 100 shares during the period. Capital Investment Counsel Inc’s holdings in AMETEK were worth $412,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in AME. JPMorgan Chase & Co. raised its position in shares of AMETEK by 48.4% in the first quarter. JPMorgan Chase & Co. now owns 7,075,565 shares of the technology company’s stock valued at $1,294,121,000 after buying an additional 2,306,535 shares in the last quarter. Bank of New York Mellon Corp increased its stake in AMETEK by 34.6% in the second quarter. Bank of New York Mellon Corp now owns 3,602,753 shares of the technology company’s stock valued at $600,615,000 after acquiring an additional 926,657 shares during the last quarter. Meridiem Investment Management Ltd. bought a new position in AMETEK in the third quarter valued at approximately $130,579,000. Principal Financial Group Inc. increased its stake in AMETEK by 256.3% in the second quarter. Principal Financial Group Inc. now owns 976,808 shares of the technology company’s stock valued at $162,844,000 after acquiring an additional 702,674 shares during the last quarter. Finally, James Hambro & Partners LLP bought a new position in AMETEK in the third quarter valued at approximately $60,188,000. 87.43% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

AME has been the topic of a number of recent analyst reports. Wolfe Research raised shares of AMETEK to a “hold” rating in a research note on Wednesday, September 18th. Mizuho lifted their price objective on shares of AMETEK from $180.00 to $190.00 and gave the company an “outperform” rating in a research note on Thursday, October 17th. Robert W. Baird decreased their price objective on shares of AMETEK from $171.00 to $166.00 and set a “neutral” rating on the stock in a research note on Wednesday, August 7th. Redburn Atlantic raised shares of AMETEK to a “strong-buy” rating in a research note on Friday, August 2nd. Finally, Royal Bank of Canada decreased their target price on shares of AMETEK from $216.00 to $215.00 and set an “outperform” rating on the stock in a research note on Friday, August 2nd. One research analyst has rated the stock with a sell rating, three have assigned a hold rating, five have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $193.29.

AMETEK Stock Performance

Shares of AMETEK stock opened at $166.67 on Thursday. The company has a quick ratio of 0.76, a current ratio of 1.26 and a debt-to-equity ratio of 0.20. AMETEK, Inc. has a twelve month low of $136.89 and a twelve month high of $186.32. The stock has a market cap of $38.58 billion, a price-to-earnings ratio of 29.29, a P/E/G ratio of 2.77 and a beta of 1.17. The company’s fifty day moving average is $168.26 and its 200 day moving average is $169.35.

AMETEK (NYSE:AME) last issued its quarterly earnings data on Thursday, August 1st. The technology company reported $1.66 earnings per share for the quarter, topping the consensus estimate of $1.64 by $0.02. AMETEK had a net margin of 19.51% and a return on equity of 17.41%. The company had revenue of $1.73 billion for the quarter, compared to analysts’ expectations of $1.78 billion. During the same quarter in the previous year, the firm posted $1.57 earnings per share. AMETEK’s revenue for the quarter was up 5.4% on a year-over-year basis. Sell-side analysts forecast that AMETEK, Inc. will post 6.76 EPS for the current year.

AMETEK Announces Dividend

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

Insider Buying and Selling

In related news, Director Steven W. Kohlhagen sold 1,460 shares of the business’s stock in a transaction on Wednesday, September 25th. The shares were sold at an average price of $171.59, for a total value of $250,521.40. Following the transaction, the director now owns 23,349 shares in the company, valued at $4,006,454.91. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.61% of the stock is currently owned by insiders.

AMETEK Company 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.