Central Pacific Bank Trust Division Reduces Stock Position in AMETEK, Inc. (NYSE:AME)

Central Pacific Bank Trust Division lessened its holdings in AMETEK, Inc. (NYSE:AME) by 94.3% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 214 shares of the technology company’s stock after selling 3,560 shares during the quarter. Central Pacific Bank Trust Division’s holdings in AMETEK were worth $37,000 at the end of the most recent quarter.

Several other large investors have also recently bought and sold shares of AME. Stifel Financial Corp increased its holdings in AMETEK by 2.5% in the fourth quarter. Stifel Financial Corp now owns 50,138 shares of the technology company’s stock valued at $8,268,000 after buying an additional 1,245 shares during the last quarter. Rafferty Asset Management LLC boosted its stake in AMETEK by 5.5% in the fourth quarter. Rafferty Asset Management LLC now owns 19,359 shares of the technology company’s stock valued at $3,192,000 after acquiring an additional 1,012 shares in the last quarter. Tower Research Capital LLC TRC boosted its stake in AMETEK by 67.7% in the fourth quarter. Tower Research Capital LLC TRC now owns 28,930 shares of the technology company’s stock valued at $4,770,000 after acquiring an additional 11,683 shares in the last quarter. Oppenheimer & Co. Inc. boosted its stake in AMETEK by 11.2% in the fourth quarter. Oppenheimer & Co. Inc. now owns 13,238 shares of the technology company’s stock valued at $2,183,000 after acquiring an additional 1,329 shares in the last quarter. Finally, Cibc World Markets Corp boosted its stake in AMETEK by 133.3% in the fourth quarter. Cibc World Markets Corp now owns 29,707 shares of the technology company’s stock valued at $4,898,000 after acquiring an additional 16,973 shares in the last quarter. Hedge funds and other institutional investors own 87.43% of the company’s stock.

Insider Transactions at AMETEK

In other news, Director Steven W. Kohlhagen sold 1,460 shares of the business’s stock in a transaction on Wednesday, September 25th. The stock was sold at an average price of $171.59, for a total value of $250,521.40. Following the completion of the transaction, the director now directly owns 23,349 shares of the company’s stock, valued at $4,006,454.91. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Insiders own 0.61% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have issued reports on AME shares. Robert W. Baird decreased their price objective on shares of AMETEK from $171.00 to $166.00 and set a “neutral” rating for the company in a research note on Wednesday, August 7th. Redburn Atlantic upgraded shares of AMETEK to a “strong-buy” rating in a research note on Friday, August 2nd. TD Cowen decreased their price objective on shares of AMETEK from $165.00 to $158.00 and set a “hold” rating for the company in a research note on Monday, August 5th. Truist Financial lowered their target price on AMETEK from $204.00 to $201.00 and set a “buy” rating on the stock in a research note on Friday, August 2nd. Finally, Wolfe Research raised AMETEK to a “hold” rating in a report on Wednesday, September 18th. Five investment analysts have rated the stock with a hold rating, four have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $186.29.

AMETEK Price Performance

AME stock traded up $1.01 during midday trading on Friday, hitting $170.11. 718,388 shares of the stock were exchanged, compared to its average volume of 1,135,349. The stock’s 50-day moving average price is $166.34 and its 200-day moving average price is $170.64. The stock has a market cap of $39.38 billion, a price-to-earnings ratio of 29.90, a PEG ratio of 2.81 and a beta of 1.17. 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 0.20, a quick ratio of 0.76 and a current ratio of 1.26.

AMETEK (NYSE:AME) last issued its quarterly earnings data on Thursday, August 1st. The technology company reported $1.66 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.64 by $0.02. The firm had revenue of $1.73 billion during the quarter, compared to analysts’ expectations of $1.78 billion. AMETEK had a return on equity of 17.41% and a net margin of 19.51%. AMETEK’s revenue was up 5.4% on a year-over-year basis. During the same period in the previous year, the firm posted $1.57 earnings per share. Research analysts predict that AMETEK, Inc. will post 6.77 earnings per share for the current year.

AMETEK Announces Dividend

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