Meritage Portfolio Management Lowers stake in AMETEK (AME)

AMETEK (AME) : Meritage Portfolio Management reduced its stake in AMETEK by 1.13% during the most recent quarter end. The investment management company now holds a total of 100,260 shares of AMETEK which is valued at $5,127,296 after selling 1,147 shares in AMETEK , the firm said in a disclosure report filed with the SEC on Apr 21, 2016.AMETEK makes up approximately 0.58% of Meritage Portfolio Management’s portfolio.

AMETEK opened for trading at $51.6 and hit $52.605 on the upside on Wednesday, eventually ending the session at $52.34, with a gain of 1.43% or 0.74 points. The heightened volatility saw the trading volume jump to 16,68,455 shares. Company has a market cap of $12,328 M.

Other Hedge Funds, Including , Cim boosted its stake in AME in the latest quarter, The investment management firm added 360 additional shares and now holds a total of 8,823 shares of AMETEK which is valued at $451,208. AMETEK makes up approx 0.22% of Cim’s portfolio.Central Trust Co reduced its stake in AME by selling 63 shares or 2.23% in the most recent quarter. The Hedge Fund company now holds 2,767 shares of AME which is valued at $139,817. AMETEK makes up approx 0.01% of Central Trust Co’s portfolio.

On the company’s financial health, AMETEK reported $0.63 EPS for the quarter, based on the information available during the earnings call on Feb 5, 2016. Analyst had a consensus estimate of $0.63. The company had revenue of $988.00 million for the quarter, compared to analysts expectations of $1008.08 million. The company’s revenue was down -3.5 % compared to the same quarter last year.During the same quarter in the previous year, the company posted $0.63 EPS.

Many Wall Street Analysts have commented on AMETEK. Shares were Reiterated by RBC Capital Mkts on Feb 8, 2016 to “Outperform” and Lowered the Price Target to $ 58 from a previous price target of $63 .Shares were Reiterated by Oppenheimer on Feb 8, 2016 to “Outperform” and Lowered the Price Target to $ 56 from a previous price target of $59 .

AMETEK Inc. (AMETEK) is a manufacturer of electronic instruments and electromechanical devices with operations in North America Europe Asia and South America. AMETEK markets and sells its products through two groups: Electronic Instruments (EIG) and Electromechanical (EMG). The Company’s EIG segment designs and manufactures advanced instruments for the process aerospace power and industrial markets. It offers process control instruments for the oil and gas petrochemical pharmaceutical semiconductor and factory automation industries. The Company’s EMG segment offers electrical connectors and electronics packaging used in aerospace and defense medical and industrial applications as well as its advanced technical motor and motion control products which are used in a range of medical devices office and business equipment factory automation robotics and other applications.

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