AMETEK, Inc. (NYSE:AME) Shares Bought by Cornerstone Capital Inc.

Cornerstone Capital Inc. increased its position in AMETEK, Inc. (NYSE:AME - Free Report) by 31.3% in the 3rd quarter, according to its most recent 13F filing with the SEC. The firm owned 124,183 shares of the technology company's stock after buying an additional 29,571 shares during the period. AMETEK comprises approximately 2.0% of Cornerstone Capital Inc.'s holdings, making the stock its 19th largest position. Cornerstone Capital Inc. owned 0.05% of AMETEK worth $21,323,000 at the end of the most recent quarter.

A number of other institutional investors have also bought and sold shares of AME. JPMorgan Chase & Co. increased its holdings in AMETEK by 48.4% in the 1st quarter. JPMorgan Chase & Co. now owns 7,075,565 shares of the technology company's stock valued at $1,294,121,000 after acquiring an additional 2,306,535 shares during the last quarter. Bank of New York Mellon Corp lifted its position in shares of 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 worth $600,615,000 after buying an additional 926,657 shares in the last quarter. Meridiem Investment Management Ltd. bought a new position in AMETEK during the third quarter valued at approximately $130,579,000. Principal Financial Group Inc. grew its holdings in AMETEK by 256.3% during the 2nd quarter. Principal Financial Group Inc. now owns 976,808 shares of the technology company's stock valued at $162,844,000 after buying an additional 702,674 shares in the last quarter. Finally, James Hambro & Partners LLP bought a new stake in AMETEK in the 3rd quarter worth approximately $60,188,000. Hedge funds and other institutional investors own 87.43% of the company's stock.

Insiders Place Their Bets

In related news, Director Steven W. Kohlhagen sold 1,460 shares of the firm's stock in a transaction on Wednesday, September 25th. The stock was sold at an average price of $171.59, for a total value of $250,521.40. Following the completion of the transaction, the director now owns 23,349 shares in the company, valued at $4,006,454.91. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. 0.61% of the stock is owned by insiders.

AMETEK Stock Up 1.2 %

AMETEK stock traded up $2.10 during trading hours on Tuesday, reaching $182.02. The stock had a trading volume of 979,785 shares, compared to its average volume of 1,142,484. AMETEK, Inc. has a 52 week low of $141.65 and a 52 week high of $186.32. The company has a market cap of $42.10 billion, a price-to-earnings ratio of 31.34, a PEG ratio of 2.91 and a beta of 1.16. The company has a debt-to-equity ratio of 0.18, a current ratio of 1.39 and a quick ratio of 0.84. The business's 50 day moving average price is $169.41 and its 200-day moving average price is $168.88.

AMETEK (NYSE:AME - Get Free Report) last released its quarterly earnings results on Thursday, October 31st. The technology company reported $1.66 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.62 by $0.04. AMETEK had a net margin of 19.27% and a return on equity of 16.88%. The business had revenue of $1.71 billion for the quarter, compared to analyst estimates of $1.71 billion. During the same period in the previous year, the company earned $1.64 earnings per share. The business's revenue for the quarter was up 5.3% on a year-over-year basis. Sell-side analysts anticipate that AMETEK, Inc. will post 6.81 EPS for the current year.

AMETEK Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, September 30th. Investors of record on Monday, September 16th were paid a $0.28 dividend. This represents a $1.12 dividend on an annualized basis and a yield of 0.62%. The ex-dividend date of this dividend was Monday, September 16th. AMETEK's dividend payout ratio (DPR) is presently 19.51%.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on AME. Royal Bank of Canada cut their target price on shares of AMETEK from $216.00 to $215.00 and set an "outperform" rating for the company in a report on Friday, August 2nd. Wolfe Research raised shares of AMETEK to a "hold" rating in a report on Wednesday, September 18th. StockNews.com raised AMETEK from a "hold" rating to a "buy" rating in a research note on Monday. Mizuho raised their price objective on AMETEK from $190.00 to $200.00 and gave the company an "outperform" rating in a research note on Friday. Finally, TD Cowen downgraded AMETEK from a "hold" rating to a "sell" rating in a research report on Monday, October 7th. One research analyst has rated the stock with a sell rating, two have issued a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat, AMETEK currently has a consensus rating of "Moderate Buy" and a consensus target price of $197.86.

About AMETEK

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.