AMETEK, Inc. (NYSE:AME) Shares Sold by Pathstone Holdings LLC

Pathstone Holdings LLC cut its stake in shares of AMETEK, Inc. (NYSE:AME) by 1.3% in the third quarter, HoldingsChannel.com reports. The fund owned 20,576 shares of the technology company’s stock after selling 275 shares during the period. Pathstone Holdings LLC’s holdings in AMETEK were worth $3,533,000 at the end of the most recent reporting period.

Several other hedge funds have also recently modified their holdings of AME. Taurus Asset Management LLC raised its position in shares of AMETEK by 2.9% in the third quarter. Taurus Asset Management LLC now owns 115,033 shares of the technology company’s stock valued at $19,752,000 after buying an additional 3,210 shares during the last quarter. Quest Partners LLC grew its holdings in AMETEK by 802.5% in the 3rd quarter. Quest Partners LLC now owns 2,139 shares of the technology company’s stock valued at $367,000 after buying an additional 1,902 shares in the last quarter. Swiss National Bank increased its stake in shares of AMETEK by 0.4% in the 3rd quarter. Swiss National Bank now owns 687,025 shares of the technology company’s stock worth $117,969,000 after acquiring an additional 2,500 shares during the last quarter. Mutual of America Capital Management LLC raised its holdings in shares of AMETEK by 5.4% during the 3rd quarter. Mutual of America Capital Management LLC now owns 39,845 shares of the technology company’s stock worth $6,842,000 after acquiring an additional 2,033 shares during the period. Finally, Sawgrass Asset Management LLC boosted its position in shares of AMETEK by 36.5% during the 3rd quarter. Sawgrass Asset Management LLC now owns 74,757 shares of the technology company’s stock valued at $12,837,000 after acquiring an additional 20,001 shares during the last quarter. Institutional investors and hedge funds own 87.43% of the company’s stock.

AMETEK Stock Performance

Shares of AMETEK stock opened at $197.38 on Monday. The stock has a market capitalization of $45.66 billion, a price-to-earnings ratio of 34.39, a price-to-earnings-growth ratio of 3.19 and a beta of 1.16. The company has a debt-to-equity ratio of 0.18, a current ratio of 1.39 and a quick ratio of 0.84. The business has a 50-day moving average of $176.46 and a 200 day moving average of $170.72. AMETEK, Inc. has a 12 month low of $149.03 and a 12 month high of $197.83.

AMETEK (NYSE:AME) last posted its quarterly earnings data on Thursday, October 31st. The technology company reported $1.66 EPS for the quarter, beating the consensus estimate of $1.62 by $0.04. AMETEK had a net margin of 19.27% and a return on equity of 16.88%. The business had revenue of $1.71 billion during the quarter, compared to analyst estimates of $1.71 billion. During the same quarter last year, the firm posted $1.64 earnings per share. The business’s revenue for the quarter was up 5.3% compared to the same quarter last year. As a group, sell-side analysts forecast that AMETEK, Inc. will post 6.8 earnings per share for the current year.

AMETEK Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 20th. Stockholders of record on Friday, December 6th will be paid a $0.28 dividend. This represents a $1.12 annualized dividend and a dividend yield of 0.57%. The ex-dividend date is Friday, December 6th. AMETEK’s payout ratio is currently 19.51%.

Wall Street Analysts Forecast Growth

AME has been the topic of a number of analyst reports. Wolfe Research raised shares of AMETEK to a “hold” rating in a research note on Wednesday, September 18th. Robert W. Baird lifted their price target on shares of AMETEK from $166.00 to $186.00 and gave the company a “neutral” rating in a research report on Monday, November 4th. Truist Financial raised their target price on AMETEK from $219.00 to $221.00 and gave the stock a “buy” rating in a research note on Friday, November 1st. Redburn Atlantic raised AMETEK to a “strong-buy” rating in a research note on Friday, August 2nd. Finally, TD Cowen downgraded AMETEK from a “hold” rating to a “sell” rating in a research report on Monday, October 7th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating, five have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $199.29.

Insider Activity at AMETEK

In other news, insider David F. Hermance sold 6,243 shares of AMETEK stock in a transaction dated Friday, November 8th. The stock was sold at an average price of $190.99, for a total value of $1,192,350.57. Following the completion of the transaction, the insider now owns 36,731 shares in the company, valued at approximately $7,015,253.69. This trade represents a 14.53 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Steven W. Kohlhagen sold 1,460 shares of the company’s stock in a transaction that occurred 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 in the company, valued at $4,006,454.91. The trade was a 5.88 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.61% of the stock is currently 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.