AMETEK, Inc. (NYSE:AME) Shares Sold by Central Pacific Bank Trust Division

Central Pacific Bank Trust Division cut its holdings in shares of AMETEK, Inc. (NYSE:AME) by 30.4% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 149 shares of the technology company’s stock after selling 65 shares during the period. Central Pacific Bank Trust Division’s holdings in AMETEK were worth $27,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the business. EdgePoint Investment Group Inc. grew its stake in shares of AMETEK by 87.9% in the third quarter. EdgePoint Investment Group Inc. now owns 1,964,236 shares of the technology company’s stock worth $337,279,000 after purchasing an additional 918,737 shares in the last quarter. Meridiem Investment Management Ltd. acquired a new stake in AMETEK in the third quarter worth about $130,579,000. Principal Financial Group Inc. grew its position in AMETEK by 72.0% in the 3rd quarter. Principal Financial Group Inc. now owns 1,680,309 shares of the technology company’s stock valued at $288,526,000 after buying an additional 703,501 shares in the last quarter. D1 Capital Partners L.P. bought a new stake in shares of AMETEK during the 3rd quarter worth about $79,782,000. Finally, James Hambro & Partners LLP acquired a new stake in shares of AMETEK in the 3rd quarter worth approximately $60,188,000. 87.43% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

AME has been the topic of a number of research analyst reports. KeyCorp raised their price objective on shares of AMETEK from $205.00 to $215.00 and gave the company an “overweight” rating in a research note on Friday, November 22nd. TD Cowen downgraded AMETEK from a “hold” rating to a “sell” rating in a research note on Monday, October 7th. Robert W. Baird raised their target price on AMETEK from $166.00 to $186.00 and gave the company a “neutral” rating in a research note on Monday, November 4th. StockNews.com cut shares of AMETEK from a “buy” rating to a “hold” rating in a research report on Wednesday, January 1st. Finally, Truist Financial lifted their price objective on shares of AMETEK from $219.00 to $221.00 and gave the stock a “buy” rating in a research note on Friday, November 1st. One investment analyst has rated the stock with a sell rating, three have issued a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, AMETEK currently has an average rating of “Moderate Buy” and a consensus price target of $202.50.

AMETEK Stock Performance

AMETEK stock opened at $179.57 on Monday. AMETEK, Inc. has a fifty-two week low of $149.03 and a fifty-two week high of $198.33. The firm’s 50 day simple moving average is $187.38 and its 200-day simple moving average is $174.45. 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 company has a market cap of $41.54 billion, a P/E ratio of 31.28, a price-to-earnings-growth ratio of 3.08 and a beta of 1.16.

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

AMETEK Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, December 20th. Shareholders of record on Friday, December 6th were given a dividend of $0.28 per share. The ex-dividend date of this dividend was Friday, December 6th. This represents a $1.12 dividend on an annualized basis and a yield of 0.62%. AMETEK’s payout ratio is presently 19.51%.

Insider Buying and Selling at AMETEK

In other news, insider Tony J. Ciampitti sold 16,210 shares of the business’s stock in a transaction on Friday, November 22nd. The shares were sold at an average price of $197.01, for a total transaction of $3,193,532.10. Following the transaction, the insider now directly owns 49,490 shares in the company, valued at $9,750,024.90. The trade was a 24.67 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Emanuela Speranza sold 6,747 shares of the stock in a transaction on Tuesday, November 26th. The stock was sold at an average price of $195.90, for a total value of $1,321,737.30. Following the sale, the insider now owns 30,460 shares of the company’s stock, valued at approximately $5,967,114. This represents a 18.13 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 29,200 shares of company stock valued at $5,707,620 in the last 90 days. 0.61% of the stock is currently owned by corporate insiders.

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.