Wolverine Asset Management LLC Sells 8,000 Shares of AMETEK, Inc. (NYSE:AME)

Key Points

• Wolverine Asset Management LLC sold 8,000 shares of AMETEK, Inc., reducing its holdings by 64% to 4,500 shares valued at approximately $775,000.
• AMETEK reported a quarterly earnings per share of $1.78, surpassing analysts' estimates of $1.69, with revenues of $1.78 billion for the quarter, a 2.5% increase from the previous year.
• The company declared a quarterly dividend of $0.31 per share, set to be paid on September 30th, representing an annual yield of 0.7%.

Wolverine Asset Management LLC trimmed its holdings in AMETEK, Inc. (NYSE:AME - Free Report) by 64.0% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 4,500 shares of the technology company's stock after selling 8,000 shares during the period. Wolverine Asset Management LLC's holdings in AMETEK were worth $775,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also recently made changes to their positions in AME. National Bank of Canada FI lifted its position in AMETEK by 30.3% in the 1st quarter. National Bank of Canada FI now owns 185,165 shares of the technology company's stock valued at $31,874,000 after acquiring an additional 43,072 shares in the last quarter. Citigroup Inc. increased its holdings in AMETEK by 139.6% during the 1st quarter. Citigroup Inc. now owns 219,091 shares of the technology company's stock worth $37,714,000 after purchasing an additional 127,651 shares in the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. raised its stake in shares of AMETEK by 14.3% in the first quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 412,803 shares of the technology company's stock worth $71,060,000 after purchasing an additional 51,746 shares during the last quarter. CenterBook Partners LP lifted its holdings in shares of AMETEK by 31.4% in the first quarter. CenterBook Partners LP now owns 4,072 shares of the technology company's stock valued at $701,000 after purchasing an additional 973 shares in the last quarter. Finally, Ontario Teachers Pension Plan Board boosted its position in shares of AMETEK by 27.8% during the first quarter. Ontario Teachers Pension Plan Board now owns 16,346 shares of the technology company's stock valued at $2,814,000 after buying an additional 3,557 shares during the last quarter. 87.43% of the stock is currently owned by institutional investors and hedge funds.

AMETEK Price Performance

AME opened at $181.94 on Friday. The firm has a 50-day moving average price of $179.90 and a 200-day moving average price of $177.01. AMETEK, Inc. has a twelve month low of $145.02 and a twelve month high of $198.33. The company has a quick ratio of 1.04, a current ratio of 1.63 and a debt-to-equity ratio of 0.15. The company has a market capitalization of $42.02 billion, a price-to-earnings ratio of 29.30, a PEG ratio of 2.63 and a beta of 1.10.

AMETEK (NYSE:AME - Get Free Report) last released its quarterly earnings data on Thursday, July 31st. The technology company reported $1.78 earnings per share for the quarter, beating analysts' consensus estimates of $1.69 by $0.09. AMETEK had a net margin of 20.60% and a return on equity of 16.53%. The business had revenue of $1.78 billion during the quarter, compared to analyst estimates of $1.74 billion. During the same period in the previous year, the business earned $1.66 EPS. AMETEK's revenue was up 2.5% compared to the same quarter last year. Equities analysts expect that AMETEK, Inc. will post 7.15 EPS for the current year.

AMETEK Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 30th. Investors of record on Monday, September 15th will be issued a dividend of $0.31 per share. This represents a $1.24 dividend on an annualized basis and a yield of 0.7%. AMETEK's dividend payout ratio (DPR) is 19.97%.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on AME. Robert W. Baird raised their price target on shares of AMETEK from $190.00 to $198.00 and gave the company a "neutral" rating in a research report on Monday, August 4th. Royal Bank Of Canada boosted their price objective on AMETEK from $209.00 to $212.00 and gave the stock an "outperform" rating in a research report on Friday, August 1st. Morgan Stanley raised their target price on AMETEK from $185.00 to $198.00 and gave the company an "equal weight" rating in a research report on Friday. Mizuho boosted their price target on shares of AMETEK from $212.00 to $225.00 and gave the stock an "outperform" rating in a report on Friday, August 1st. Finally, Wall Street Zen upgraded shares of AMETEK from a "hold" rating to a "buy" rating in a report on Monday, May 12th. One analyst has rated the stock with a sell rating, five have given a hold rating and eight have given a buy rating to the company's stock. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of $208.00.

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.

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