AMETEK, Inc. (NYSE:AME) Shares Bought by Sawgrass Asset Management LLC

Sawgrass Asset Management LLC grew its stake in AMETEK, Inc. (NYSE:AME - Free Report) by 36.5% during the third quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 74,757 shares of the technology company's stock after purchasing an additional 20,001 shares during the quarter. AMETEK makes up approximately 1.3% of Sawgrass Asset Management LLC's holdings, making the stock its 27th biggest holding. Sawgrass Asset Management LLC's holdings in AMETEK were worth $12,837,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. Bank of New York Mellon Corp increased its holdings in shares of AMETEK by 34.6% in the 2nd 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 stake in AMETEK during the third quarter valued at $130,579,000. Principal Financial Group Inc. increased its stake in AMETEK by 72.0% during the third quarter. Principal Financial Group Inc. now owns 1,680,309 shares of the technology company's stock valued at $288,526,000 after purchasing an additional 703,501 shares during the last quarter. James Hambro & Partners LLP bought a new position in shares of AMETEK in the 3rd quarter worth about $60,188,000. Finally, Ceredex Value Advisors LLC acquired a new position in shares of AMETEK in the 3rd quarter valued at about $40,811,000. Institutional investors own 87.43% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on the stock. Mizuho increased their price objective on shares of AMETEK from $190.00 to $200.00 and gave the stock an "outperform" rating in a research note on Friday, November 1st. Robert W. Baird raised their price target on AMETEK from $166.00 to $186.00 and gave the stock a "neutral" rating in a report on Monday, November 4th. Royal Bank of Canada reduced their price objective on AMETEK from $216.00 to $215.00 and set an "outperform" rating for the company in a research report on Friday, August 2nd. Redburn Atlantic upgraded AMETEK to a "strong-buy" rating in a research note on Friday, August 2nd. Finally, StockNews.com lowered shares of AMETEK from a "buy" rating to a "hold" rating in a research report on Friday. One investment analyst has rated the stock with a sell rating, three have issued a hold rating, five have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $197.86.

Insider Buying and Selling at AMETEK

In other AMETEK news, insider David F. Hermance sold 6,243 shares of the company's stock in a transaction dated Friday, November 8th. The shares were sold at an average price of $190.99, for a total value of $1,192,350.57. Following the completion of the sale, the insider now directly owns 36,731 shares of the company's stock, 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 can be accessed through this hyperlink. Also, Director Steven W. Kohlhagen sold 1,460 shares of AMETEK stock in a transaction that occurred on Wednesday, September 25th. The stock was sold at an average price of $171.59, for a total transaction of $250,521.40. Following the completion of the transaction, the director now directly owns 23,349 shares in the company, valued at $4,006,454.91. This represents a 5.88 % decrease in their position. The disclosure for this sale can be found here. 0.61% of the stock is currently owned by corporate insiders.

AMETEK Trading Down 0.3 %

NYSE:AME opened at $193.10 on Friday. AMETEK, Inc. has a 1 year low of $149.03 and a 1 year high of $196.70. The business has a fifty day moving average of $173.59 and a 200-day moving average of $169.79. The company has a debt-to-equity ratio of 0.18, a quick ratio of 0.84 and a current ratio of 1.39. The stock has a market cap of $44.67 billion, a price-to-earnings ratio of 33.64, a PEG ratio of 3.19 and a beta of 1.16.

AMETEK (NYSE:AME - Get Free Report) last announced its earnings results on Thursday, October 31st. The technology company reported $1.66 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.62 by $0.04. AMETEK had a net margin of 19.27% and a return on equity of 16.88%. The firm had revenue of $1.71 billion during the quarter, compared to analyst estimates of $1.71 billion. During the same quarter in the prior year, the firm posted $1.64 EPS. AMETEK's revenue was up 5.3% compared to the same quarter last year. Equities analysts predict that AMETEK, Inc. will post 6.81 earnings per share for the current year.

AMETEK Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, December 20th. Investors of record on Friday, December 6th will be issued a dividend of $0.28 per share. The ex-dividend date is Friday, December 6th. This represents a $1.12 annualized dividend and a yield of 0.58%. AMETEK's payout ratio is 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.

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