AMETEK, Inc. (NYSE:AME) Shares Sold by 1832 Asset Management L.P.

1832 Asset Management L.P. cut its stake in shares of AMETEK, Inc. (NYSE:AME) by 19.0% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 15,071 shares of the technology company’s stock after selling 3,534 shares during the period. 1832 Asset Management L.P.’s holdings in AMETEK were worth $2,756,000 at the end of the most recent quarter.

Several other hedge funds have also modified their holdings of AME. Norges Bank purchased a new position in AMETEK during the 4th quarter worth approximately $589,098,000. JPMorgan Chase & Co. grew its holdings in shares of AMETEK by 48.4% during the first quarter. JPMorgan Chase & Co. now owns 7,075,565 shares of the technology company’s stock valued at $1,294,121,000 after buying an additional 2,306,535 shares in the last quarter. Bank Julius Baer & Co. Ltd Zurich raised its position in AMETEK by 4,845.8% during the fourth quarter. Bank Julius Baer & Co. Ltd Zurich now owns 677,075 shares of the technology company’s stock valued at $111,643,000 after buying an additional 663,385 shares during the period. Maren Capital LLC acquired a new position in AMETEK during the fourth quarter valued at $64,284,000. Finally, Dimensional Fund Advisors LP lifted its stake in AMETEK by 17.6% in the 4th quarter. Dimensional Fund Advisors LP now owns 1,701,558 shares of the technology company’s stock worth $280,573,000 after acquiring an additional 255,193 shares in the last quarter. 87.43% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at AMETEK

In other AMETEK news, Director Steven W. Kohlhagen sold 1,440 shares of the business’s stock in a transaction on Wednesday, June 12th. The shares were sold at an average price of $173.93, for a total transaction of $250,459.20. Following the completion of the transaction, the director now owns 24,809 shares of the company’s stock, valued at approximately $4,315,029.37. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other AMETEK news, Director Steven W. Kohlhagen sold 1,440 shares of the firm’s stock in a transaction that occurred on Wednesday, June 12th. The stock was sold at an average price of $173.93, for a total value of $250,459.20. Following the sale, the director now owns 24,809 shares of the company’s stock, valued at approximately $4,315,029.37. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Steven W. Kohlhagen sold 1,470 shares of the company’s stock in a transaction that occurred on Wednesday, May 15th. The stock was sold at an average price of $170.20, for a total value of $250,194.00. Following the transaction, the director now owns 26,249 shares of the company’s stock, valued at $4,467,579.80. The disclosure for this sale can be found here. 0.61% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

A number of brokerages have recently weighed in on AME. Robert W. Baird dropped their target price on AMETEK from $173.00 to $171.00 and set a “neutral” rating on the stock in a report on Monday, May 6th. StockNews.com downgraded shares of AMETEK from a “buy” rating to a “hold” rating in a research report on Tuesday, June 18th. Oppenheimer raised shares of AMETEK from a “market perform” rating to an “outperform” rating and set a $200.00 target price for the company in a research note on Wednesday, May 22nd. Finally, Truist Financial dropped their price target on shares of AMETEK from $210.00 to $204.00 and set a “buy” rating on the stock in a research note on Tuesday, July 2nd. Four analysts have rated the stock with a hold rating and eight have given a buy rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $181.20.

AMETEK Stock Up 2.2 %

NYSE AME traded up $3.75 during trading on Friday, hitting $172.27. 864,601 shares of the company traded hands, compared to its average volume of 996,840. AMETEK, Inc. has a 12 month low of $136.89 and a 12 month high of $186.32. The business has a fifty day simple moving average of $169.46 and a 200 day simple moving average of $172.48. The company has a market capitalization of $39.88 billion, a P/E ratio of 30.28, a PEG ratio of 2.71 and a beta of 1.18. The company has a current ratio of 1.11, a quick ratio of 0.66 and a debt-to-equity ratio of 0.21.

AMETEK (NYSE:AME) last issued its quarterly earnings data on Thursday, May 2nd. The technology company reported $1.64 EPS for the quarter, beating analysts’ consensus estimates of $1.59 by $0.05. The business had revenue of $1.74 billion for the quarter, compared to analyst estimates of $1.78 billion. AMETEK had a return on equity of 17.74% and a net margin of 19.57%. The firm’s revenue for the quarter was up 9.0% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.49 EPS. As a group, sell-side analysts predict that AMETEK, Inc. will post 6.81 EPS for the current year.

AMETEK Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, June 28th. Investors of record on Friday, June 14th were issued a dividend of $0.28 per share. This represents a $1.12 annualized dividend and a dividend yield of 0.65%. The ex-dividend date was Friday, June 14th. AMETEK’s dividend payout ratio is currently 19.68%.

About AMETEK

AMETEK, Inc manufactures and sells electronic instruments and electromechanical devices in the North America, Europe, Asia, and South America, and internationally. The company's EIG segment offers advanced instruments for the process, aerospace, power, and industrial markets; process and analytical instruments for the oil and gas, petrochemical, pharmaceutical, semiconductor, automation, and food and beverage industries; instruments to the laboratory equipment, ultra-precision manufacturing, medical, and test and measurement markets; power quality monitoring and c devices, uninterruptible power supplies, programmable power and electromagnetic compatibility test equipment, and sensors for gas turbines and dashboard instruments; heavy trucks, instrumentation, and controls for the food and beverage industries; and aircraft and engine sensors, power supplies, embedded computing, monitoring, fuel and fluid measurement, and data acquisition systems for aerospace and defense industry.