AMETEK, Inc. (NYSE:AME) Shares Sold by ARK Investment Management LLC

ARK Investment Management LLC lowered its position in AMETEK, Inc. (NYSE:AME) by 20.9% in the second quarter, HoldingsChannel reports. The firm owned 10,345 shares of the technology company’s stock after selling 2,736 shares during the period. ARK Investment Management LLC’s holdings in AMETEK were worth $1,725,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of AME. Signature Estate & Investment Advisors LLC acquired a new position in AMETEK in the 2nd quarter valued at about $336,000. First Command Advisory Services Inc. acquired a new position in AMETEK in the second quarter valued at approximately $50,000. Bank of New York Mellon Corp grew its position in 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 acquiring an additional 926,657 shares during the period. apricus wealth LLC increased its stake in AMETEK by 7.1% during the second quarter. apricus wealth LLC now owns 2,265 shares of the technology company’s stock worth $378,000 after acquiring an additional 150 shares during the last quarter. Finally, Raymond James Trust N.A. raised its position in AMETEK by 2.2% in the second quarter. Raymond James Trust N.A. now owns 9,468 shares of the technology company’s stock valued at $1,578,000 after purchasing an additional 204 shares during the period. 87.43% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

AME has been the subject of a number of recent analyst reports. StockNews.com downgraded AMETEK from a “buy” rating to a “hold” rating in a research report on Tuesday, August 6th. Redburn Atlantic raised shares of AMETEK to a “strong-buy” rating in a research report on Friday, August 2nd. Royal Bank of Canada cut their target price on AMETEK from $216.00 to $215.00 and set an “outperform” rating on the stock in a research report on Friday, August 2nd. Oppenheimer upgraded AMETEK from a “market perform” rating to an “outperform” rating and set a $200.00 price target for the company in a research report on Wednesday, May 22nd. Finally, Robert W. Baird cut their price objective on AMETEK from $171.00 to $166.00 and set a “neutral” rating on the stock in a report on Wednesday, August 7th. Four analysts have rated the stock with a hold rating, four have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $186.29.

Insiders Place Their Bets

In related news, Director Steven W. Kohlhagen sold 1,440 shares of the company’s stock in a transaction that occurred on Wednesday, June 12th. The stock was 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 directly owns 24,809 shares of the company’s stock, valued at $4,315,029.37. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.61% of the stock is owned by company insiders.

AMETEK Stock Down 0.0 %

NYSE AME traded down $0.07 during trading hours on Tuesday, hitting $168.25. 379,033 shares of the company were exchanged, compared to its average volume of 1,120,481. The company has a 50 day moving average of $166.43 and a two-hundred day moving average of $172.35. The company has a quick ratio of 0.66, a current ratio of 1.26 and a debt-to-equity ratio of 0.20. The firm has a market cap of $38.94 billion, a price-to-earnings ratio of 29.51, a PEG ratio of 2.57 and a beta of 1.18. AMETEK, Inc. has a 52-week low of $136.89 and a 52-week high of $186.32.

AMETEK (NYSE:AME) last issued its earnings results on Thursday, August 1st. The technology company reported $1.66 earnings per share for the quarter, beating the consensus estimate of $1.64 by $0.02. AMETEK had a net margin of 19.51% and a return on equity of 17.41%. The firm had revenue of $1.73 billion for the quarter, compared to analysts’ expectations of $1.78 billion. During the same quarter last year, the company earned $1.57 earnings per share. The firm’s revenue was up 5.4% compared to the same quarter last year. Equities research analysts anticipate that AMETEK, Inc. will post 6.78 earnings per share for the current year.

AMETEK Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, September 30th. Shareholders of record on Monday, September 16th will be paid a $0.28 dividend. This represents a $1.12 dividend on an annualized basis and a yield of 0.67%. The ex-dividend date of this dividend is Monday, September 16th. AMETEK’s dividend payout ratio is presently 19.68%.

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.