Sumitomo Mitsui Trust Holdings Inc. Sells 1,024 Shares of AMETEK, Inc. (NYSE:AME)

Sumitomo Mitsui Trust Holdings Inc. trimmed its position in AMETEK, Inc. (NYSE:AME) by 0.2% in the first quarter, HoldingsChannel reports. The firm owned 545,650 shares of the technology company’s stock after selling 1,024 shares during the quarter. Sumitomo Mitsui Trust Holdings Inc.’s holdings in AMETEK were worth $99,799,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in the company. Wasatch Advisors LP grew its position in AMETEK by 1.9% in the 1st quarter. Wasatch Advisors LP now owns 6,244 shares of the technology company’s stock worth $1,142,000 after purchasing an additional 117 shares in the last quarter. Dixon Mitchell Investment Counsel Inc. bought a new stake in AMETEK in the 1st quarter worth about $46,343,000. Buffington Mohr McNeal grew its position in AMETEK by 0.3% in the 1st quarter. Buffington Mohr McNeal now owns 63,076 shares of the technology company’s stock worth $11,537,000 after purchasing an additional 204 shares in the last quarter. MorganRosel Wealth Management LLC grew its position in shares of AMETEK by 4.7% during the 1st quarter. MorganRosel Wealth Management LLC now owns 3,825 shares of the technology company’s stock valued at $700,000 after acquiring an additional 170 shares during the period. Finally, Mayfair Advisory Group LLC grew its position in shares of AMETEK by 3.4% during the 1st quarter. Mayfair Advisory Group LLC now owns 8,565 shares of the technology company’s stock valued at $1,567,000 after acquiring an additional 283 shares during the period. 87.43% of the stock is owned by institutional investors.

AMETEK Stock Performance

NYSE AME opened at $166.30 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 stock has a market capitalization of $38.49 billion, a PE ratio of 29.23, a P/E/G ratio of 2.67 and a beta of 1.18. The company’s 50 day simple moving average is $170.09 and its two-hundred day simple moving average is $171.77.

AMETEK (NYSE:AME) last posted its earnings results on Thursday, May 2nd. The technology company reported $1.64 earnings per share (EPS) for the quarter, topping 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 business had revenue of $1.74 billion for the quarter, compared to analysts’ expectations of $1.78 billion. During the same period in the prior year, the company posted $1.49 EPS. The business’s revenue for the quarter was up 9.0% compared to the same quarter last year. Analysts predict that AMETEK, Inc. will post 6.83 earnings per share for the current fiscal year.

AMETEK Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, June 28th. Shareholders of record on Friday, June 14th were paid a $0.28 dividend. This represents a $1.12 annualized dividend and a yield of 0.67%. The ex-dividend date was Friday, June 14th. AMETEK’s dividend payout ratio is presently 19.68%.

Analysts Set New Price Targets

A number of research firms have recently weighed in on AME. 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 report on Wednesday, May 22nd. Truist Financial reduced their target price on shares of AMETEK from $210.00 to $204.00 and set a “buy” rating for the company in a research report on Tuesday. Robert W. Baird reduced their target price on shares of AMETEK from $173.00 to $171.00 and set a “neutral” rating for the company in a research report on Monday, May 6th. Finally, StockNews.com downgraded shares of AMETEK from a “buy” rating to a “hold” rating in a research report on Tuesday, June 18th. Four investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, AMETEK presently has a consensus rating of “Moderate Buy” and an average target price of $181.20.

Insiders Place Their Bets

In other news, Director Steven W. Kohlhagen sold 1,440 shares of the firm’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 sale, the director now owns 24,809 shares in the company, valued at approximately $4,315,029.37. The transaction was disclosed in a filing with the SEC, which is accessible through this link. In other news, Director Steven W. Kohlhagen sold 1,440 shares of the firm’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 sale, the director now owns 24,809 shares in the company, valued at approximately $4,315,029.37. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Steven W. Kohlhagen sold 1,470 shares of the firm’s stock in a transaction on Wednesday, May 15th. The shares were sold at an average price of $170.20, for a total transaction of $250,194.00. Following the sale, the director now owns 26,249 shares in the company, valued at approximately $4,467,579.80. The disclosure for this sale can be found here. Corporate insiders own 0.61% of the company’s stock.

AMETEK 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.