Norman Fields Gottscho Capital Management Lowers stake in AMETEK (AME)

AMETEK (AME) : Norman Fields Gottscho Capital Management reduced its stake in AMETEK by 51.96% during the most recent quarter end. The investment management company now holds a total of 22,005 shares of AMETEK which is valued at $1,058,881 after selling 23,800 shares in AMETEK , the firm said in a disclosure report filed with the SEC on Oct 4, 2016.AMETEK makes up approximately 0.71% of Norman Fields Gottscho Capital Management’s portfolio.

Other Hedge Funds, Including , Washington Trust Bank added AME to its portfolio by purchasing 22 company shares during the most recent quarter which is valued at $1,059.

AMETEK closed down -0.3 points or -0.63% at $47.13 with 25,32,410 shares getting traded on Tuesday. Post opening the session at $47.53, the shares hit an intraday low of $47.05 and an intraday high of $47.68 and the price fluctuated in this range throughout the day.Shares ended Tuesday 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.

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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