Lord Abbett & CO. LLC Has $87.35 Million Stake in AMETEK, Inc. (AME)

Lord Abbett & CO. LLC cut its stake in shares of AMETEK, Inc. (NYSE:AME) by 12.9% in the second quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 1,442,152 shares of the technology company’s stock after selling 213,549 shares during the quarter. Lord Abbett & CO. LLC owned approximately 0.62% of AMETEK worth $87,351,000 at the end of the most recent reporting period.

Other institutional investors also recently made changes to their positions in the company. Commonwealth Bank of Australia grew its position in shares of AMETEK by 17.7% during the second quarter. Commonwealth Bank of Australia now owns 1,747 shares of the technology company’s stock worth $104,000 after buying an additional 263 shares in the last quarter. BB&T Investment Services Inc. acquired a new position in shares of AMETEK during the second quarter worth about $107,000. Edmond DE Rothschild Holding S.A. acquired a new position in shares of AMETEK during the second quarter worth about $151,000. Acrospire Investment Management LLC grew its position in shares of AMETEK by 104.0% during the second quarter. Acrospire Investment Management LLC now owns 2,550 shares of the technology company’s stock worth $154,000 after buying an additional 1,300 shares in the last quarter. Finally, QS Investors LLC grew its position in shares of AMETEK by 0.9% during the second quarter. QS Investors LLC now owns 2,846 shares of the technology company’s stock worth $172,000 after buying an additional 25 shares in the last quarter. 85.56% of the stock is owned by institutional investors and hedge funds.

TRADEMARK VIOLATION NOTICE: “Lord Abbett & CO. LLC Has $87.35 Million Stake in AMETEK, Inc. (AME)” was originally posted by The Ledger Gazette and is the sole property of of The Ledger Gazette. If you are accessing this article on another website, it was copied illegally and republished in violation of US and international copyright and trademark laws. The legal version of this article can be viewed at https://ledgergazette.com/2017/10/17/lord-abbett-co-llc-has-87-35-million-stake-in-ametek-inc-ame.html.

Shares of AMETEK, Inc. (NYSE:AME) traded up 0.44% during trading on Tuesday, reaching $68.07. The company had a trading volume of 245,559 shares. The firm has a 50-day moving average price of $65.35 and a 200-day moving average price of $61.40. The company has a market capitalization of $15.71 billion, a P/E ratio of 29.87 and a beta of 1.31. AMETEK, Inc. has a 52-week low of $43.98 and a 52-week high of $68.19.

AMETEK (NYSE:AME) last posted its quarterly earnings data on Wednesday, August 2nd. The technology company reported $0.65 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.62 by $0.03. AMETEK had a return on equity of 17.25% and a net margin of 14.13%. The company had revenue of $1.06 billion for the quarter, compared to the consensus estimate of $1.04 billion. During the same period in the previous year, the business earned $0.59 EPS. AMETEK’s revenue for the quarter was up 8.9% compared to the same quarter last year. On average, analysts predict that AMETEK, Inc. will post $2.52 EPS for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which was paid on Friday, September 29th. Shareholders of record on Friday, September 15th were issued a dividend of $0.09 per share. The ex-dividend date of this dividend was Thursday, September 14th. This represents a $0.36 annualized dividend and a yield of 0.53%. AMETEK’s dividend payout ratio is presently 15.79%.

In other news, insider John Wesley Hardin sold 2,600 shares of AMETEK stock in a transaction that occurred on Friday, August 4th. The stock was sold at an average price of $64.51, for a total value of $167,726.00. Following the completion of the transaction, the insider now owns 59,698 shares in the company, valued at approximately $3,851,117.98. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider Frank S. Hermance sold 150,840 shares of AMETEK stock in a transaction that occurred on Wednesday, September 20th. The stock was sold at an average price of $66.38, for a total value of $10,012,759.20. Following the completion of the transaction, the insider now owns 2,191,341 shares of the company’s stock, valued at approximately $145,461,215.58. The disclosure for this sale can be found here. Insiders have sold a total of 173,255 shares of company stock worth $11,483,064 over the last 90 days. 2.10% of the stock is owned by company insiders.

AME has been the subject of a number of research analyst reports. Zacks Investment Research raised AMETEK from a “hold” rating to a “buy” rating and set a $71.00 price target for the company in a report on Tuesday, September 5th. BMO Capital Markets reaffirmed a “buy” rating and issued a $67.00 price target on shares of AMETEK in a report on Tuesday, June 27th. BidaskClub downgraded AMETEK from a “strong-buy” rating to a “buy” rating in a report on Monday, July 24th. Finally, Jefferies Group LLC upped their price target on AMETEK from $66.00 to $77.00 and gave the company a “buy” rating in a report on Friday. Three investment analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. The stock

Other institutional investors also recently made changes to their positions in the company. Commonwealth Bank of Australia grew its position in shares of AMETEK by 17.7% during the second quarter. Commonwealth Bank of Australia now owns 1,747 shares of the technology company’s stock worth $104,000 after buying an additional 263 shares in the last quarter. BB&T Investment Services Inc. acquired a new position in shares of AMETEK during the second quarter worth about $107,000. Edmond DE Rothschild Holding S.A. acquired a new position in shares of AMETEK during the second quarter worth about $151,000. Acrospire Investment Management LLC grew its position in shares of AMETEK by 104.0% during the second quarter. Acrospire Investment Management LLC now owns 2,550 shares of the technology company’s stock worth $154,000 after buying an additional 1,300 shares in the last quarter. Finally, QS Investors LLC grew its position in shares of AMETEK by 0.9% during the second quarter. QS Investors LLC now owns 2,846 shares of the technology company’s stock worth $172,000 after buying an additional 25 shares in the last quarter. 85.56% of the stock is owned by institutional investors and hedge funds.

TRADEMARK VIOLATION NOTICE: “Lord Abbett & CO. LLC Has $87.35 Million Stake in AMETEK, Inc. (AME)” was originally posted by The Ledger Gazette and is the sole property of of The Ledger Gazette. If you are accessing this article on another website, it was copied illegally and republished in violation of US and international copyright and trademark laws. The legal version of this article can be viewed at https://ledgergazette.com/2017/10/17/lord-abbett-co-llc-has-87-35-million-stake-in-ametek-inc-ame.html.

Shares of AMETEK, Inc. (NYSE:AME) traded up 0.44% during trading on Tuesday, reaching $68.07. The company had a trading volume of 245,559 shares. The firm has a 50-day moving average price of $65.35 and a 200-day moving average price of $61.40. The company has a market capitalization of $15.71 billion, a P/E ratio of 29.87 and a beta of 1.31. AMETEK, Inc. has a 52-week low of $43.98 and a 52-week high of $68.19.

AMETEK (NYSE:AME) last posted its quarterly earnings data on Wednesday, August 2nd. The technology company reported $0.65 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.62 by $0.03. AMETEK had a return on equity of 17.25% and a net margin of 14.13%. The company had revenue of $1.06 billion for the quarter, compared to the consensus estimate of $1.04 billion. During the same period in the previous year, the business earned $0.59 EPS. AMETEK’s revenue for the quarter was up 8.9% compared to the same quarter last year. On average, analysts predict that AMETEK, Inc. will post $2.52 EPS for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which was paid on Friday, September 29th. Shareholders of record on Friday, September 15th were issued a dividend of $0.09 per share. The ex-dividend date of this dividend was Thursday, September 14th. This represents a $0.36 annualized dividend and a yield of 0.53%. AMETEK’s dividend payout ratio is presently 15.79%.

In other news, insider John Wesley Hardin sold 2,600 shares of AMETEK stock in a transaction that occurred on Friday, August 4th. The stock was sold at an average price of $64.51, for a total value of $167,726.00. Following the completion of the transaction, the insider now owns 59,698 shares in the company, valued at approximately $3,851,117.98. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider Frank S. Hermance sold 150,840 shares of AMETEK stock in a transaction that occurred on Wednesday, September 20th. The stock was sold at an average price of $66.38, for a total value of $10,012,759.20. Following the completion of the transaction, the insider now owns 2,191,341 shares of the company’s stock, valued at approximately $145,461,215.58. The disclosure for this sale can be found here. Insiders have sold a total of 173,255 shares of company stock worth $11,483,064 over the last 90 days. 2.10% of the stock is owned by company insiders.

AME has been the subject of a number of research analyst reports. Zacks Investment Research raised AMETEK from a “hold” rating to a “buy” rating and set a $71.00 price target for the company in a report on Tuesday, September 5th. BMO Capital Markets reaffirmed a “buy” rating and issued a $67.00 price target on shares of AMETEK in a report on Tuesday, June 27th. BidaskClub downgraded AMETEK from a “strong-buy” rating to a “buy” rating in a report on Monday, July 24th. Finally, Jefferies Group LLC upped their price target on AMETEK from $66.00 to $77.00 and gave the company a “buy” rating in a report on Friday. Three investment analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and a consensus price target of $67.82.

AMETEK Profile

AMETEK, Inc is a manufacturer of electronic instruments and electromechanical devices with operations in North America, Europe, Asia and South America. The Company operates through two segments: Electronic Instruments (EIG) and Electromechanical (EMG). EIG designs and manufactures instruments for the process, power and industrial and aerospace markets.

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Institutional Ownership by Quarter for AMETEK (NYSE:AME)

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