3,575 AMETEK, Inc. $AME Shares Sold by Fifth Third Bancorp

Fifth Third Bancorp trimmed its holdings in AMETEK, Inc. (NYSE:AME) by 4.3% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 80,486 shares of the technology company’s stock after selling 3,575 shares during the period. Fifth Third Bancorp’s holdings in AMETEK were worth $19,939,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also bought and sold shares of the company. BlackRock Inc. purchased a new position in shares of AMETEK in the second quarter valued at $4,725,928,000. Wellington Management Group LLP raised its stake in shares of AMETEK by 7.0% during the 2nd quarter. Wellington Management Group LLP now owns 2,994,077 shares of the technology company’s stock valued at $724,387,000 after purchasing an additional 196,986 shares during the period. Flossbach Von Storch SE purchased a new stake in AMETEK during the 2nd quarter worth about $662,352,000. Bank of New York Mellon Corp purchased a new stake in AMETEK during the 2nd quarter worth about $624,725,000. Finally, Dimensional Fund Advisors LP boosted its stake in AMETEK by 1.4% in the 1st quarter. Dimensional Fund Advisors LP now owns 2,075,229 shares of the technology company’s stock worth $444,788,000 after purchasing an additional 29,001 shares during the period. Institutional investors own 87.43% of the company’s stock.

AMETEK Trading Up 0.5%

Shares of AME opened at $242.20 on Friday. The company has a debt-to-equity ratio of 0.52, a current ratio of 1.43 and a quick ratio of 0.91. AMETEK, Inc. has a 1-year low of $188.47 and a 1-year high of $261.16. The company has a market capitalization of $55.54 billion, a P/E ratio of 34.16, a P/E/G ratio of 2.15 and a beta of 0.96. The firm’s 50 day simple moving average is $243.49 and its 200 day simple moving average is $235.10.

AMETEK (NYSE:AME) last released its earnings results on Tuesday, November 3rd. The technology company reported $2.21 EPS for the quarter, beating analysts’ consensus estimates of $2.11 by $0.10. AMETEK had a return on equity of 17.12% and a net margin of 19.91%. The business had revenue of $2.22 billion for the quarter, compared to analysts’ expectations of $2.12 billion. During the same quarter in the prior year, the firm earned $1.89 earnings per share. The firm’s revenue was up 17.3% on a year-over-year basis. Sell-side analysts forecast that AMETEK, Inc. will post 8.57 earnings per share for the current fiscal year.

AMETEK Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, December 18th. Shareholders of record on Friday, December 4th will be given a dividend of $0.34 per share. This represents a $1.36 dividend on an annualized basis and a yield of 0.6%. The ex-dividend date is Friday, December 4th. AMETEK’s dividend payout ratio (DPR) is presently 19.18%.

Wall Street Analysts Forecast Growth

AME has been the subject of a number of recent analyst reports. Seaport Research Partners lifted their target price on AMETEK from $290.00 to $300.00 and gave the company a “buy” rating in a report on Wednesday, September 2nd. Royal Bank Of Canada upped their price target on AMETEK from $291.00 to $308.00 and gave the company an “outperform” rating in a research report on Wednesday, November 4th. Robert W. Baird increased their price target on shares of AMETEK from $275.00 to $280.00 and gave the stock a “neutral” rating in a report on Monday, October 5th. Deutsche Bank raised their price objective on shares of AMETEK from $288.00 to $318.00 and gave the company a “buy” rating in a research report on Wednesday, September 30th. Finally, Citigroup boosted their price objective on shares of AMETEK from $263.00 to $270.00 and gave the company a “neutral” rating in a research note on Wednesday, November 4th. One research analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating and five have assigned a Hold rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $278.88.

AMETEK Company Profile

AMETEK, Inc. is a global manufacturer of electronic instruments and electromechanical products. Its businesses serve a range of markets, including aerospace, energy, industrial manufacturing, medical, and transportation. The company’s products include analytical and process instruments, monitoring and measurement systems, aerospace components, precision motors and pumps, and engineered materials. AMETEK organizes its operations into two groups: Electronic Instruments and Electromechanical. Founded in 1930, AMETEK serves customers around the world through manufacturing facilities, sales offices, and service operations in multiple countries.