Trivant Custom Portfolio Group LLC Grows Stake in AMETEK, Inc. (NYSE:AME)

Trivant Custom Portfolio Group LLC boosted its holdings in AMETEK, Inc. (NYSE:AME) by 0.7% during the third quarter, Holdings Channel.com reports. The fund owned 16,763 shares of the technology company’s stock after buying an additional 120 shares during the quarter. AMETEK accounts for 1.7% of Trivant Custom Portfolio Group LLC’s investment portfolio, making the stock its 23rd largest holding. Trivant Custom Portfolio Group LLC’s holdings in AMETEK were worth $2,878,000 as of its most recent SEC filing.

A number of other large investors have also recently modified their holdings of the business. JPMorgan Chase & Co. raised its stake in AMETEK by 48.4% in 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 purchasing an additional 2,306,535 shares in the last quarter. Bank of New York Mellon Corp increased its position in shares of AMETEK by 34.6% during the 2nd quarter. Bank of New York Mellon Corp now owns 3,602,753 shares of the technology company’s stock valued at $600,615,000 after purchasing an additional 926,657 shares during the last quarter. Principal Financial Group Inc. raised its holdings in shares of AMETEK by 256.3% during the 2nd quarter. Principal Financial Group Inc. now owns 976,808 shares of the technology company’s stock valued at $162,844,000 after buying an additional 702,674 shares in the last quarter. Dixon Mitchell Investment Counsel Inc. bought a new stake in AMETEK in the 1st quarter worth approximately $46,343,000. Finally, Sei Investments Co. boosted its stake in AMETEK by 133.3% in the first quarter. Sei Investments Co. now owns 394,881 shares of the technology company’s stock worth $72,223,000 after buying an additional 225,600 shares in the last quarter. Institutional investors own 87.43% of the company’s stock.

AMETEK Trading Up 0.6 %

Shares of AMETEK stock traded up $1.01 during midday trading on Friday, reaching $170.11. 718,388 shares of the company’s stock traded hands, compared to its average volume of 1,135,349. The company has a market cap of $39.38 billion, a PE ratio of 29.90, a price-to-earnings-growth ratio of 2.81 and a beta of 1.17. The stock has a 50 day moving average of $166.34 and a 200-day moving average of $170.64. AMETEK, Inc. has a 12 month low of $136.89 and a 12 month high of $186.32. The company has a debt-to-equity ratio of 0.20, a quick ratio of 0.76 and a current ratio of 1.26.

AMETEK (NYSE:AME) last announced its earnings results on Thursday, August 1st. The technology company reported $1.66 earnings per share for the quarter, beating analysts’ consensus estimates of $1.64 by $0.02. AMETEK had a net margin of 19.51% and a return on equity of 17.41%. The firm had revenue of $1.73 billion for the quarter, compared to analyst estimates of $1.78 billion. During the same quarter in the previous year, the firm posted $1.57 EPS. The company’s revenue for the quarter was up 5.4% compared to the same quarter last year. As a group, equities analysts expect that AMETEK, Inc. will post 6.77 EPS for the current fiscal year.

AMETEK Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, September 30th. Stockholders of record on Monday, September 16th were paid a $0.28 dividend. This represents a $1.12 dividend on an annualized basis and a dividend yield of 0.66%. The ex-dividend date of this dividend was Monday, September 16th. AMETEK’s payout ratio is presently 19.68%.

Insider Activity at AMETEK

In other AMETEK news, Director Steven W. Kohlhagen sold 1,460 shares of the firm’s stock in a transaction that occurred on Wednesday, September 25th. The shares were sold at an average price of $171.59, for a total transaction of $250,521.40. Following the completion of the transaction, the director now owns 23,349 shares of the company’s stock, valued at approximately $4,006,454.91. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 0.61% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several research analysts have commented on the stock. Truist Financial decreased their price target on shares of AMETEK from $204.00 to $201.00 and set a “buy” rating on the stock in a research note on Friday, August 2nd. Royal Bank of Canada lowered their price target on shares of AMETEK from $216.00 to $215.00 and set an “outperform” rating for the company in a research note on Friday, August 2nd. StockNews.com cut AMETEK from a “buy” rating to a “hold” rating in a report on Tuesday, August 6th. Robert W. Baird decreased their price target on AMETEK from $171.00 to $166.00 and set a “neutral” rating on the stock in a research note on Wednesday, August 7th. Finally, TD Cowen dropped their price objective on AMETEK from $165.00 to $158.00 and set a “hold” rating for the company in a research note on Monday, August 5th. Five research analysts have rated the stock with a hold rating, four have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $186.29.

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.