Sumitomo Mitsui DS Asset Management Company Ltd Acquires 2,522 Shares of AMETEK, Inc. (NYSE:AME)

Sumitomo Mitsui DS Asset Management Company Ltd grew its holdings in AMETEK, Inc. (NYSE:AME) by 7.4% in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 36,620 shares of the technology company’s stock after acquiring an additional 2,522 shares during the period. Sumitomo Mitsui DS Asset Management Company Ltd’s holdings in AMETEK were worth $6,288,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also modified their holdings of the business. Czech National Bank lifted its holdings in AMETEK by 8.6% in the 2nd quarter. Czech National Bank now owns 44,108 shares of the technology company’s stock worth $7,353,000 after purchasing an additional 3,499 shares during the last quarter. Duality Advisers LP acquired a new stake in shares of AMETEK in the first quarter worth $1,676,000. CWM LLC boosted its holdings in shares of AMETEK by 53.9% during the 2nd quarter. CWM LLC now owns 10,594 shares of the technology company’s stock worth $1,766,000 after buying an additional 3,711 shares during the period. American National Bank & Trust Co. VA acquired a new position in AMETEK in the 1st quarter valued at $6,978,000. Finally, State Board of Administration of Florida Retirement System raised its holdings in AMETEK by 3.3% in the 1st quarter. State Board of Administration of Florida Retirement System now owns 258,677 shares of the technology company’s stock worth $47,312,000 after acquiring an additional 8,189 shares during the period. Institutional investors own 87.43% of the company’s stock.

AMETEK Price Performance

Shares of NYSE:AME opened at $169.40 on Friday. The business’s 50 day moving average is $167.84 and its 200-day moving average is $169.62. The company has a current ratio of 1.26, a quick ratio of 0.76 and a debt-to-equity ratio of 0.20. The firm has a market capitalization of $39.21 billion, a PE ratio of 29.77, a PEG ratio of 2.77 and a beta of 1.17. AMETEK, Inc. has a 1-year low of $136.89 and a 1-year high of $186.32.

AMETEK (NYSE:AME) last announced its quarterly earnings results on Thursday, August 1st. The technology company reported $1.66 earnings per share (EPS) for the quarter, beating the consensus estimate 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 business’s revenue for the quarter was up 5.4% on a year-over-year basis. Sell-side analysts predict that AMETEK, Inc. will post 6.76 earnings per share for the current year.

AMETEK Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, September 30th. Investors of record on Monday, September 16th were given a $0.28 dividend. This represents a $1.12 annualized dividend and a yield of 0.66%. The ex-dividend date was Monday, September 16th. AMETEK’s dividend payout ratio (DPR) is presently 19.68%.

Insiders Place Their Bets

In other news, 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 value of $250,521.40. Following the sale, the director now directly owns 23,349 shares in the company, valued at approximately $4,006,454.91. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Corporate insiders own 0.61% of the company’s stock.

Analysts Set New Price Targets

AME has been the subject of a number of recent analyst reports. StockNews.com cut shares of AMETEK from a “buy” rating to a “hold” rating in a report on Tuesday, August 6th. Mizuho increased their target price on AMETEK from $180.00 to $190.00 and gave the company an “outperform” rating in a research note on Thursday. Truist Financial raised their target price on AMETEK from $201.00 to $219.00 and gave the company a “buy” rating in a report on Wednesday, October 9th. TD Cowen lowered AMETEK from a “hold” rating to a “sell” rating in a report on Monday, October 7th. Finally, Wolfe Research upgraded shares of AMETEK to a “hold” rating in a research note on Wednesday, September 18th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating, five have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $193.29.

AMETEK 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.