Massmutual Trust Co. FSB ADV Sells 200 Shares of AMETEK, Inc. (NYSE:AME)

Massmutual Trust Co. FSB ADV decreased its position in shares of AMETEK, Inc. (NYSE:AME) by 10.1% during the 1st quarter, HoldingsChannel reports. The fund owned 1,788 shares of the technology company’s stock after selling 200 shares during the period. Massmutual Trust Co. FSB ADV’s holdings in AMETEK were worth $327,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Kestra Advisory Services LLC grew its holdings in shares of AMETEK by 487.9% during the third quarter. Kestra Advisory Services LLC now owns 17,155 shares of the technology company’s stock worth $2,535,000 after purchasing an additional 14,237 shares during the last quarter. Envestnet Portfolio Solutions Inc. bought a new stake in AMETEK during the 3rd quarter worth approximately $1,891,000. Envestnet Asset Management Inc. increased its position in AMETEK by 38.7% in the 3rd quarter. Envestnet Asset Management Inc. now owns 271,235 shares of the technology company’s stock valued at $40,078,000 after acquiring an additional 75,733 shares during the period. Grantham Mayo Van Otterloo & Co. LLC raised its stake in shares of AMETEK by 27.8% during the third quarter. Grantham Mayo Van Otterloo & Co. LLC now owns 1,915 shares of the technology company’s stock valued at $283,000 after acquiring an additional 416 shares during the last quarter. Finally, Nordea Investment Management AB lifted its holdings in shares of AMETEK by 2.6% during the third quarter. Nordea Investment Management AB now owns 23,136 shares of the technology company’s stock worth $3,452,000 after purchasing an additional 594 shares during the period. Institutional investors own 87.43% of the company’s stock.

Wall Street Analysts Forecast Growth

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

Insider Transactions at AMETEK

In related news, Director Steven W. Kohlhagen sold 1,470 shares of the business’s stock in a transaction dated Wednesday, May 15th. The stock was sold at an average price of $170.20, for a total value of $250,194.00. Following the completion of the sale, the director now directly owns 26,249 shares of the company’s stock, valued at approximately $4,467,579.80. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In related news, Director Steven W. Kohlhagen sold 1,470 shares of AMETEK stock in a transaction on Wednesday, May 15th. The shares were sold at an average price of $170.20, for a total value of $250,194.00. Following the completion of the sale, the director now owns 26,249 shares of the company’s stock, valued at approximately $4,467,579.80. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Director Thomas A. Amato sold 780 shares of the company’s stock in a transaction on Tuesday, March 26th. The stock was sold at an average price of $182.00, for a total transaction of $141,960.00. Following the transaction, the director now owns 10,240 shares in the company, valued at approximately $1,863,680. The disclosure for this sale can be found here. Insiders have sold 3,690 shares of company stock valued at $642,613 in the last 90 days. 0.61% of the stock is currently owned by corporate insiders.

AMETEK Trading Down 1.4 %

Shares of AME stock opened at $168.52 on Friday. AMETEK, Inc. has a fifty-two week low of $136.89 and a fifty-two week high of $186.32. The company has a debt-to-equity ratio of 0.21, a quick ratio of 0.66 and a current ratio of 1.11. The stock has a 50 day simple moving average of $171.86 and a two-hundred day simple moving average of $171.12. The company has a market cap of $39.01 billion, a P/E ratio of 29.62, a PEG ratio of 2.74 and a beta of 1.20.

AMETEK (NYSE:AME) last released its quarterly earnings data 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. AMETEK had a net margin of 19.57% and a return on equity of 17.74%. The company had revenue of $1.74 billion during the quarter, compared to analyst estimates of $1.78 billion. During the same quarter in the previous year, the business posted $1.49 EPS. AMETEK’s revenue for the quarter was up 9.0% compared to the same quarter last year. Research analysts forecast that AMETEK, Inc. will post 6.83 earnings per share for the current year.

AMETEK Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, June 28th. Stockholders of record on Friday, June 14th will be issued 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 dividend yield of 0.66%. 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.