First Hawaiian Bank Has $2.81 Million Position in AMETEK, Inc. (NYSE:AME)

First Hawaiian Bank lifted its stake in shares of AMETEK, Inc. (NYSE:AME) by 36.0% during the first quarter, Holdings Channel reports. The fund owned 15,380 shares of the technology company’s stock after buying an additional 4,070 shares during the quarter. First Hawaiian Bank’s holdings in AMETEK were worth $2,813,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. Giverny Capital Inc. lifted its position in shares of AMETEK by 0.5% during the 3rd quarter. Giverny Capital Inc. now owns 897,056 shares of the technology company’s stock valued at $132,549,000 after acquiring an additional 4,556 shares during the period. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main lifted its position in shares of AMETEK by 11.2% during the 4th quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 1,669,394 shares of the technology company’s stock valued at $275,266,000 after acquiring an additional 167,602 shares during the period. Pacer Advisors Inc. raised its holdings in AMETEK by 161.0% during the fourth quarter. Pacer Advisors Inc. now owns 44,684 shares of the technology company’s stock worth $7,368,000 after buying an additional 27,562 shares during the last quarter. Tyche Wealth Partners LLC acquired a new position in AMETEK during the fourth quarter worth $6,275,000. Finally, Cim LLC acquired a new position in AMETEK during the fourth quarter worth $1,254,000. Institutional investors and hedge funds own 87.43% of the company’s stock.

AMETEK Stock Performance

NYSE AME opened at $170.90 on Thursday. AMETEK, Inc. has a 1 year low of $136.89 and a 1 year high of $186.32. The company has a debt-to-equity ratio of 0.21, a current ratio of 1.11 and a quick ratio of 0.66. The firm has a market cap of $39.56 billion, a price-to-earnings ratio of 30.04, a PEG ratio of 2.74 and a beta of 1.20. The company has a fifty day moving average price of $172.10 and a 200-day moving average price of $171.14.

AMETEK (NYSE:AME) last posted its quarterly earnings results on Thursday, May 2nd. The technology company reported $1.64 earnings per share for the quarter, beating the consensus estimate of $1.59 by $0.05. The company had revenue of $1.74 billion during the quarter, compared to analyst estimates of $1.78 billion. AMETEK had a net margin of 19.57% and a return on equity of 17.74%. 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 business earned $1.49 earnings per share. As a group, equities research analysts predict that AMETEK, Inc. will post 6.83 EPS for the current fiscal year.

AMETEK Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, June 28th. Investors of record on Friday, June 14th will be given a dividend of $0.28 per share. The ex-dividend date of this dividend is Friday, June 14th. This represents a $1.12 annualized dividend and a yield of 0.66%. AMETEK’s payout ratio is currently 19.68%.

Analysts Set New Price Targets

Several research firms have weighed in on AME. Robert W. Baird lowered their price objective on shares of AMETEK from $173.00 to $171.00 and set a “neutral” rating on the stock in a report on Monday, May 6th. Oppenheimer upgraded shares of AMETEK from a “market perform” rating to an “outperform” rating and set a $200.00 price objective on the stock in a report on Wednesday, May 22nd. StockNews.com downgraded shares of AMETEK from a “buy” rating to a “hold” rating in a report on Tuesday. KeyCorp upped their price objective on shares of AMETEK from $182.00 to $205.00 and gave the stock an “overweight” rating in a report on Tuesday, February 27th. Finally, Truist Financial initiated coverage on shares of AMETEK in a report on Thursday, March 14th. They set a “buy” rating and a $210.00 price objective on the stock. Four equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $181.80.

Insider Activity at AMETEK

In related news, Director Steven W. Kohlhagen sold 1,440 shares of the stock in a transaction dated 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 in the company, valued at $4,315,029.37. The transaction was disclosed in a document filed with the SEC, which is available through this link. In other AMETEK news, Director Steven W. Kohlhagen sold 1,440 shares of the stock in a transaction dated 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 in the company, valued at $4,315,029.37. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Steven W. Kohlhagen sold 1,470 shares of the stock in a transaction dated Wednesday, May 15th. The stock was sold at an average price of $170.20, for a total transaction of $250,194.00. Following the transaction, the director now owns 26,249 shares of the company’s stock, valued at approximately $4,467,579.80. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 3,690 shares of company stock worth $642,613. 0.61% of the stock is owned by company insiders.

AMETEK Company Profile

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.