Wolverine Asset Management LLC Takes Position in AMETEK, Inc. (NYSE:AME)

Wolverine Asset Management LLC bought a new position in shares of AMETEK, Inc. (NYSE:AME - Free Report) in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund bought 4,500 shares of the technology company's stock, valued at approximately $750,000.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Washington Trust Advisors Inc. bought a new position in AMETEK during the 1st quarter worth approximately $37,000. Family Firm Inc. bought a new position in shares of AMETEK during the second quarter worth $39,000. Industrial Alliance Investment Management Inc. acquired a new position in shares of AMETEK in the 2nd quarter valued at $42,000. Headlands Technologies LLC bought a new stake in shares of AMETEK in the 1st quarter valued at $43,000. Finally, Crewe Advisors LLC raised its stake in AMETEK by 168.8% during the 2nd quarter. Crewe Advisors LLC now owns 293 shares of the technology company's stock worth $49,000 after buying an additional 184 shares during the period. Institutional investors own 87.43% of the company's stock.

AMETEK Stock Down 0.9 %

Shares of AMETEK stock traded down $1.51 during trading hours on Friday, reaching $163.64. 835,941 shares of the company's stock were exchanged, compared to its average volume of 1,117,487. The stock has a market cap of $37.88 billion, a P/E ratio of 28.75, a P/E/G ratio of 2.81 and a beta of 1.17. The company has a 50 day moving average of $166.33 and a two-hundred day moving average of $172.19. The company has a current ratio of 1.26, a quick ratio of 0.76 and a debt-to-equity ratio of 0.20. AMETEK, Inc. has a fifty-two week low of $136.89 and a fifty-two week high of $186.32.

AMETEK (NYSE:AME - Get Free Report) last issued its quarterly earnings results on Thursday, August 1st. The technology company reported $1.66 EPS for the quarter, beating the consensus estimate of $1.64 by $0.02. The firm had revenue of $1.73 billion during the quarter, compared to analysts' expectations of $1.78 billion. AMETEK had a return on equity of 17.41% and a net margin of 19.51%. The business's quarterly revenue was up 5.4% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.57 earnings per share. On average, sell-side analysts forecast that AMETEK, Inc. will post 6.77 EPS for the current fiscal year.

AMETEK Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, September 30th. Investors of record on Monday, September 16th will be issued a dividend of $0.28 per share. The ex-dividend date of this dividend is Monday, September 16th. This represents a $1.12 dividend on an annualized basis and a yield of 0.68%. AMETEK's payout ratio is 19.68%.

Wall Street Analyst Weigh In

A number of research firms have issued reports on AME. Redburn Atlantic raised AMETEK to a "strong-buy" rating in a research note on Friday, August 2nd. TD Cowen lowered their target price on AMETEK from $165.00 to $158.00 and set a "hold" rating for the company in a research note on Monday, August 5th. Oppenheimer raised shares of AMETEK from a "market perform" rating to an "outperform" rating and set a $200.00 price target on the stock in a research note on Wednesday, May 22nd. Royal Bank of Canada cut their price target on AMETEK from $216.00 to $215.00 and set an "outperform" rating on the stock in a report on Friday, August 2nd. Finally, StockNews.com downgraded AMETEK from a "buy" rating to a "hold" rating in a report on Tuesday, August 6th. Four investment analysts have rated the stock with a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average target price of $186.29.

Insiders Place Their Bets

In other news, Director Steven W. Kohlhagen sold 1,440 shares of AMETEK stock in a transaction dated Wednesday, June 12th. The shares were sold at an average price of $173.93, for a total value of $250,459.20. Following the completion of the transaction, the director now owns 24,809 shares of the company's stock, valued at approximately $4,315,029.37. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Insiders own 0.61% of the company's stock.

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.