Lateef Investment Management Lowers stake in AMETEK (AME)

AMETEK (AME) : Lateef Investment Management reduced its stake in AMETEK by 7.99% during the most recent quarter end. The investment management company now holds a total of 260,050 shares of AMETEK which is valued at $12,378,380 after selling 22,580 shares in AMETEK , the firm said in a disclosure report filed with the SEC on Aug 15, 2016.AMETEK makes up approximately 0.36% of Lateef Investment Management’s portfolio.

Other Hedge Funds, Including , Caisse De Depot Et Placement Du Quebec reduced its stake in AME by selling 58,994 shares or 58.35% in the most recent quarter. The Hedge Fund company now holds 42,106 shares of AME which is valued at $2,004,246. AMETEK makes up approx 0.01% of Caisse De Depot Et Placement Du Quebec’s portfolio.Raymond James Associates reduced its stake in AME by selling 200 shares or 2.51% in the most recent quarter. The Hedge Fund company now holds 7,763 shares of AME which is valued at $369,519.Canada Pension Plan Investment Board reduced its stake in AME by selling 1,406 shares or 97.03% in the most recent quarter. The Hedge Fund company now holds 43 shares of AME which is valued at $2,047.Jackson Park Capital boosted its stake in AME in the latest quarter, The investment management firm added 4,500 additional shares and now holds a total of 13,500 shares of AMETEK which is valued at $634,905. AMETEK makes up approx 0.82% of Jackson Park Capital’s portfolio.

AMETEK closed down -0.18 points or -0.37% at $48.74 with 674,635 shares getting traded on Wednesday. Post opening the session at $48.91, the shares hit an intraday low of $48.64 and an intraday high of $49.01 and the price fluctuated in this range throughout the day.Shares ended Wednesday session in Red.

On the company’s financial health, AMETEK reported $0.59 EPS for the quarter, based on the information available during the earnings call on Aug 4, 2016. Analyst had a consensus estimate of $0.59. The company had revenue of $977.70 million for the quarter, compared to analysts expectations of $985.76 million. The company’s revenue was down -2.6 % compared to the same quarter last year.During the same quarter in the previous year, the company posted $0.64 EPS.

Investors should note that on Aug 4, 2016, AMETEK announced a cash dividend of $0.0900. The company’s management has announced Sep 14, 2016 as the ex-dividend date and fixed the record date on Sep 16, 2016. The payable date has been fixed on Sep 30, 2016.

Many Wall Street Analysts have commented on AMETEK. Shares were Reiterated by RBC Capital Mkts on Aug 5, 2016 to “Outperform” and Lowered the Price Target to $ 53 from a previous price target of $56 .

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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