Northstar Asset Management Lowers stake in AMETEK (AME)

AMETEK (AME) : Northstar Asset Management reduced its stake in AMETEK by 2.76% during the most recent quarter end. The investment management company now holds a total of 109,903 shares of AMETEK which is valued at $5,136,866 after selling 3,125 shares in AMETEK , the firm said in a disclosure report filed with the SEC on May 2, 2016.AMETEK makes up approximately 2.20% of Northstar Asset Management’s portfolio.

AMETEK opened for trading at $46.57 and hit $46.82 on the upside on Friday, eventually ending the session at $46.74, with a gain of 0.21% or 0.1 points. The heightened volatility saw the trading volume jump to 12,32,856 shares. Company has a market cap of $10,910 M.

Other Hedge Funds, Including , Great West Life Assurance Co Can boosted its stake in AME in the latest quarter, The investment management firm added 5,781 additional shares and now holds a total of 125,779 shares of AMETEK which is valued at $6,048,712. AMETEK makes up approx 0.02% of Great West Life Assurance Co Can’s portfolio.Harvey Investment Co boosted its stake in AME in the latest quarter, The investment management firm added 135 additional shares and now holds a total of 26,694 shares of AMETEK which is valued at $1,283,714. AMETEK makes up approx 0.29% of Harvey Investment Co’s portfolio. Cornerstone Advisors sold out all of its stake in AME during the most recent quarter. The investment firm sold 61 shares of AME which is valued $3,120.

On the company’s financial health, AMETEK reported $0.57 EPS for the quarter, based on the information available during the earnings call on Apr 28, 2016. Analyst had a consensus estimate of $0.57. The company had revenue of $944.40 million for the quarter, compared to analysts expectations of $965.26 million. The company’s revenue was down -4.0 % 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. Company shares were Downgraded by Robert W. Baird on Apr 29, 2016 to ” Neutral”, Firm has raised the Price Target to $ 51 from a previous price target of $49 .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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