Canandaigua National Bank & Trust Co. Acquires 160 Shares of AMETEK, Inc. (NYSE:AME)

Canandaigua National Bank & Trust Co. raised its holdings in AMETEK, Inc. (NYSE:AME) by 5.0% during the 4th quarter, Holdings Channel reports. The institutional investor owned 3,343 shares of the technology company’s stock after acquiring an additional 160 shares during the quarter. Canandaigua National Bank & Trust Co.’s holdings in AMETEK were worth $603,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Legacy Wealth Management LLC MS raised its holdings in AMETEK by 4.2% during the fourth quarter. Legacy Wealth Management LLC MS now owns 2,974 shares of the technology company’s stock worth $536,000 after acquiring an additional 120 shares in the last quarter. Nordea Investment Management AB increased its holdings in AMETEK by 9.3% during the fourth quarter. Nordea Investment Management AB now owns 28,330 shares of the technology company’s stock worth $5,129,000 after buying an additional 2,406 shares during the last quarter. Everence Capital Management Inc. bought a new position in shares of AMETEK in the 4th quarter valued at about $999,000. GAMMA Investing LLC raised its holdings in shares of AMETEK by 9.2% in the 4th quarter. GAMMA Investing LLC now owns 5,270 shares of the technology company’s stock valued at $950,000 after purchasing an additional 442 shares during the period. Finally, Versant Capital Management Inc lifted its stake in AMETEK by 3,116.7% in the 4th quarter. Versant Capital Management Inc now owns 193 shares of the technology company’s stock valued at $35,000 after purchasing an additional 187 shares during the last quarter. 87.43% of the stock is owned by institutional investors.

AMETEK Trading Down 0.1 %

Shares of AMETEK stock opened at $179.33 on Tuesday. The firm’s 50-day moving average price is $187.61 and its two-hundred day moving average price is $174.53. AMETEK, Inc. has a 12-month low of $149.03 and a 12-month high of $198.33. 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 company has a market capitalization of $41.48 billion, a price-to-earnings ratio of 31.24, a PEG ratio of 3.08 and a beta of 1.16.

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

AMETEK Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, December 20th. Shareholders of record on Friday, December 6th were paid a dividend of $0.28 per share. This represents a $1.12 annualized dividend and a yield of 0.62%. The ex-dividend date of this dividend was Friday, December 6th. AMETEK’s payout ratio is 19.51%.

Insiders Place Their Bets

In other news, insider David F. Hermance sold 6,243 shares of the stock in a transaction on Friday, November 8th. The stock was sold at an average price of $190.99, for a total value 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. This represents a 14.53 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Emanuela Speranza sold 6,747 shares of the business’s stock in a transaction dated Tuesday, November 26th. The stock was sold at an average price of $195.90, for a total value of $1,321,737.30. Following the sale, the insider now owns 30,460 shares in the company, valued at approximately $5,967,114. This trade represents a 18.13 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 29,200 shares of company stock valued at $5,707,620. 0.61% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

AME has been the topic of a number of recent analyst reports. StockNews.com lowered AMETEK from a “buy” rating to a “hold” rating in a report on Wednesday, January 1st. TD Cowen lowered shares of AMETEK from a “hold” rating to a “sell” rating in a research report on Monday, October 7th. Robert W. Baird lifted their target price on shares of AMETEK from $166.00 to $186.00 and gave the stock a “neutral” rating in a report on Monday, November 4th. Bank of America raised shares of AMETEK from a “neutral” rating to a “buy” rating and increased their price target for the company from $195.00 to $225.00 in a report on Monday, December 16th. Finally, Wolfe Research upgraded AMETEK to a “hold” rating in a research note on Wednesday, September 18th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating, six have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $202.50.

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.