Northstar Asset Management Lowers stake in AMETEK (AME)

AMETEK (AME) : Northstar Asset Management reduced its stake in AMETEK by 1.47% during the most recent quarter end. The investment management company now holds a total of 108,291 shares of AMETEK which is valued at $5,126,496 after selling 1,612 shares in AMETEK , the firm said in a disclosure report filed with the SEC on Jul 22, 2016.AMETEK makes up approximately 2.06% of Northstar Asset Management’s portfolio.

Other Hedge Funds, Including , Mountain Pacific Investment Advisers Incid boosted its stake in AME in the latest quarter, The investment management firm added 5,340 additional shares and now holds a total of 574,600 shares of AMETEK which is valued at $27,201,564. AMETEK makes up approx 2.96% of Mountain Pacific Investment Advisers Incid’s portfolio.Ibm Retirement Fund reduced its stake in AME by selling 1,218 shares or 4.27% in the most recent quarter. The Hedge Fund company now holds 27,298 shares of AME which is valued at $1,292,287. AMETEK makes up approx 0.05% of Ibm Retirement Fund’s portfolio. Barrett Asset Management sold out all of its stake in AME during the most recent quarter. The investment firm sold 200 shares of AME which is valued $9,558.Gofen Glossberg Il reduced its stake in AME by selling 227 shares or 1.07% in the most recent quarter. The Hedge Fund company now holds 20,974 shares of AME which is valued at $974,242. AMETEK makes up approx 0.04% of Gofen Glossberg Il’s portfolio.

AMETEK closed down -0.36 points or -0.76% at $47.03 with 12,80,787 shares getting traded on Friday. Post opening the session at $47.36, the shares hit an intraday low of $46.82 and an intraday high of $47.36 and the price fluctuated in this range throughout the day.Shares ended Friday session in Red.

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 .

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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