Livforsakringsbolaget Skandia Omsesidigt Boosts Stake in AMETEK, Inc. (NYSE:AME)

Livforsakringsbolaget Skandia Omsesidigt increased its stake in shares of AMETEK, Inc. (NYSE:AME) by 319.3% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,824 shares of the technology company’s stock after buying an additional 1,389 shares during the quarter. Livforsakringsbolaget Skandia Omsesidigt’s holdings in AMETEK were worth $313,000 as of its most recent SEC filing.

Several other hedge funds have also recently made changes to their positions in AME. Nomura Holdings Inc. purchased a new stake in shares of AMETEK in the 4th quarter valued at $768,000. Czech National Bank grew its holdings in AMETEK by 8.6% during the second quarter. Czech National Bank now owns 44,108 shares of the technology company’s stock worth $7,353,000 after acquiring an additional 3,499 shares during the period. Duality Advisers LP purchased a new position in AMETEK during the first quarter valued at approximately $1,676,000. CWM LLC boosted its position in AMETEK by 53.9% in the 2nd quarter. CWM LLC now owns 10,594 shares of the technology company’s stock worth $1,766,000 after purchasing an additional 3,711 shares in the last quarter. Finally, American National Bank & Trust Co. VA acquired a new stake in shares of AMETEK during the 1st quarter worth approximately $6,978,000. 87.43% of the stock is owned by institutional investors and hedge funds.

Insider Activity at AMETEK

In other AMETEK news, Director Steven W. Kohlhagen sold 1,460 shares of the business’s stock in a transaction dated Wednesday, September 25th. The shares were sold at an average price of $171.59, for a total value of $250,521.40. Following the transaction, the director now directly owns 23,349 shares in the company, valued at $4,006,454.91. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. 0.61% of the stock is currently owned by insiders.

AMETEK Price Performance

Shares of NYSE AME opened at $171.65 on Tuesday. The firm has a 50-day simple moving average of $166.92 and a 200-day simple moving average of $169.86. The company has a quick ratio of 0.76, a current ratio of 1.26 and a debt-to-equity ratio of 0.20. The stock has a market capitalization of $39.73 billion, a price-to-earnings ratio of 30.17, a price-to-earnings-growth ratio of 2.77 and a beta of 1.17. AMETEK, Inc. has a 52 week low of $136.89 and a 52 week high of $186.32.

AMETEK (NYSE:AME) last released its quarterly earnings data on Thursday, August 1st. The technology company reported $1.66 EPS for the quarter, beating analysts’ consensus estimates of $1.64 by $0.02. The company had revenue of $1.73 billion during the quarter, compared to the consensus estimate of $1.78 billion. AMETEK had a net margin of 19.51% and a return on equity of 17.41%. AMETEK’s quarterly revenue was up 5.4% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.57 EPS. On average, equities analysts predict that AMETEK, Inc. will post 6.76 earnings per share for the current fiscal year.

AMETEK Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, September 30th. Stockholders of record on Monday, September 16th were given a dividend of $0.28 per share. The ex-dividend date of this dividend was Monday, September 16th. This represents a $1.12 annualized dividend and a dividend yield of 0.65%. AMETEK’s payout ratio is 19.68%.

Analysts Set New Price Targets

A number of brokerages recently issued reports on AME. Royal Bank of Canada lowered their price target on shares of AMETEK from $216.00 to $215.00 and set an “outperform” rating on the stock in a report on Friday, August 2nd. Truist Financial raised their target price on AMETEK from $201.00 to $219.00 and gave the company a “buy” rating in a research report on Wednesday, October 9th. StockNews.com cut AMETEK from a “buy” rating to a “hold” rating in a report on Tuesday, August 6th. Wolfe Research raised AMETEK to a “hold” rating in a research note on Wednesday, September 18th. Finally, Robert W. Baird reduced their price objective on shares of AMETEK from $171.00 to $166.00 and set a “neutral” rating for the company in a research report on Wednesday, August 7th. One research analyst has rated the stock with a sell rating, three have issued a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $193.83.

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.