AMETEK, Inc. (NYSE:AME) Shares Sold by MAI Capital Management

MAI Capital Management trimmed its holdings in shares of AMETEK, Inc. (NYSE:AME) by 15.6% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 12,976 shares of the technology company’s stock after selling 2,393 shares during the quarter. MAI Capital Management’s holdings in AMETEK were worth $2,228,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently bought and sold shares of the stock. Swiss National Bank increased its holdings in AMETEK by 0.4% in the 3rd quarter. Swiss National Bank now owns 687,025 shares of the technology company’s stock valued at $117,969,000 after purchasing an additional 2,500 shares during the last quarter. Mutual of America Capital Management LLC boosted its position in shares of AMETEK by 5.4% during the third quarter. Mutual of America Capital Management LLC now owns 39,845 shares of the technology company’s stock worth $6,842,000 after buying an additional 2,033 shares during the period. Sawgrass Asset Management LLC grew its stake in shares of AMETEK by 36.5% in the third quarter. Sawgrass Asset Management LLC now owns 74,757 shares of the technology company’s stock valued at $12,837,000 after buying an additional 20,001 shares in the last quarter. Natixis Advisors LLC raised its holdings in shares of AMETEK by 1.9% in the 3rd quarter. Natixis Advisors LLC now owns 110,625 shares of the technology company’s stock valued at $18,996,000 after buying an additional 2,059 shares during the period. Finally, Mizuho Securities USA LLC lifted its stake in AMETEK by 95.3% during the 3rd quarter. Mizuho Securities USA LLC now owns 34,843 shares of the technology company’s stock worth $5,983,000 after acquiring an additional 16,999 shares in the last quarter. 87.43% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In related news, Director Steven W. Kohlhagen sold 1,460 shares of the stock in a transaction on Wednesday, September 25th. The stock was sold at an average price of $171.59, for a total transaction of $250,521.40. Following the sale, the director now owns 23,349 shares of the company’s stock, valued at $4,006,454.91. This trade represents a 5.88 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider David F. Hermance sold 6,243 shares of the business’s stock in a transaction dated Friday, November 8th. The shares were sold at an average price of $190.99, for a total transaction of $1,192,350.57. Following the completion of the transaction, the insider now directly owns 36,731 shares of the company’s stock, valued at $7,015,253.69. The trade was a 14.53 % decrease in their position. The disclosure for this sale can be found here. 0.61% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

Several analysts have recently issued reports on AME shares. Redburn Atlantic raised shares of AMETEK to a “strong-buy” rating in a research report on Friday, August 2nd. TD Cowen lowered shares of AMETEK from a “hold” rating to a “sell” rating in a report on Monday, October 7th. Truist Financial raised their price target on shares of AMETEK from $219.00 to $221.00 and gave the company a “buy” rating in a research report on Friday, November 1st. Wolfe Research upgraded AMETEK to a “hold” rating in a research note on Wednesday, September 18th. Finally, Mizuho lifted their price objective on AMETEK from $190.00 to $200.00 and gave the company an “outperform” rating in a research note on Friday, November 1st. One analyst has rated the stock with a sell rating, three have issued a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $197.86.

AMETEK Trading Down 0.1 %

Shares of AMETEK stock opened at $193.33 on Thursday. AMETEK, Inc. has a 1 year low of $149.03 and a 1 year high of $196.70. The company has a market capitalization of $44.72 billion, a P/E ratio of 33.68, a PEG ratio of 3.15 and a beta of 1.16. The company’s fifty day moving average is $175.30 and its two-hundred day moving average is $170.32. The company has a debt-to-equity ratio of 0.18, a quick ratio of 0.84 and a current ratio of 1.39.

AMETEK (NYSE:AME) last released its earnings results on Thursday, October 31st. The technology company reported $1.66 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.62 by $0.04. AMETEK had a return on equity of 16.88% and a net margin of 19.27%. The business had revenue of $1.71 billion for the quarter, compared to analyst estimates of $1.71 billion. During the same quarter in the previous year, the company posted $1.64 earnings per share. The company’s revenue for the quarter was up 5.3% compared to the same quarter last year. Analysts forecast that AMETEK, Inc. will post 6.81 earnings per share for the current year.

AMETEK Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, December 20th. Stockholders of record on Friday, December 6th will be paid a dividend of $0.28 per share. This represents a $1.12 dividend on an annualized basis and a dividend yield of 0.58%. The ex-dividend date is Friday, December 6th. AMETEK’s dividend payout ratio (DPR) is 19.51%.

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.