Chevy Chase Trust Holdings LLC Reduces Stock Position in AMETEK, Inc. (NYSE:AME)

Chevy Chase Trust Holdings LLC lessened its position in AMETEK, Inc. (NYSE:AME) by 0.8% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 132,368 shares of the technology company’s stock after selling 1,108 shares during the period. Chevy Chase Trust Holdings LLC owned 0.06% of AMETEK worth $24,210,000 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of AME. Toroso Investments LLC raised its holdings in shares of AMETEK by 44.0% during the third quarter. Toroso Investments LLC now owns 5,793 shares of the technology company’s stock valued at $856,000 after acquiring an additional 1,769 shares in the last quarter. Townsquare Capital LLC boosted its stake in shares of AMETEK by 20.1% during the 3rd quarter. Townsquare Capital LLC now owns 16,784 shares of the technology company’s stock valued at $2,480,000 after purchasing an additional 2,808 shares in the last quarter. Public Sector Pension Investment Board increased its position in shares of AMETEK by 12.2% during the third quarter. Public Sector Pension Investment Board now owns 24,760 shares of the technology company’s stock valued at $3,659,000 after buying an additional 2,691 shares during the period. American Century Companies Inc. raised its stake in AMETEK by 0.3% in the third quarter. American Century Companies Inc. now owns 732,519 shares of the technology company’s stock worth $108,237,000 after buying an additional 2,163 shares in the last quarter. Finally, B. Riley Wealth Advisors Inc. raised its stake in AMETEK by 4.6% in the third quarter. B. Riley Wealth Advisors Inc. now owns 1,919 shares of the technology company’s stock worth $284,000 after buying an additional 85 shares in the last quarter. 87.43% of the stock is currently owned by hedge funds and other institutional investors.

AMETEK Stock Up 0.3 %

Shares of AMETEK stock opened at $166.32 on Thursday. The company has a 50-day simple moving average of $168.75 and a two-hundred day simple moving average of $171.80. AMETEK, Inc. has a 52-week low of $136.89 and a 52-week high of $186.32. The company has a debt-to-equity ratio of 0.21, a quick ratio of 0.66 and a current ratio of 1.11. The stock has a market capitalization of $38.50 billion, a PE ratio of 29.15, a price-to-earnings-growth ratio of 2.64 and a beta of 1.18.

AMETEK (NYSE:AME) last released its quarterly earnings data on Thursday, May 2nd. The technology company reported $1.64 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.59 by $0.05. The business had revenue of $1.74 billion for the quarter, compared to analysts’ expectations of $1.78 billion. AMETEK had a return on equity of 17.74% and a net margin of 19.57%. The firm’s quarterly revenue was up 9.0% on a year-over-year basis. During the same period in the prior year, the firm posted $1.49 EPS. On average, analysts anticipate that AMETEK, Inc. will post 6.81 EPS for the current fiscal year.

AMETEK Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, June 28th. Investors of record on Friday, June 14th were issued a $0.28 dividend. The ex-dividend date of this dividend was Friday, June 14th. This represents a $1.12 annualized dividend and a yield of 0.67%. AMETEK’s payout ratio is 19.68%.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on the company. Truist Financial decreased their target price on AMETEK from $210.00 to $204.00 and set a “buy” rating for the company in a research report on Tuesday, July 2nd. StockNews.com lowered AMETEK from a “buy” rating to a “hold” rating in a research report on Tuesday, June 18th. Oppenheimer upgraded shares of AMETEK from a “market perform” rating to an “outperform” rating and set a $200.00 target price on the stock in a report on Wednesday, May 22nd. Finally, Robert W. Baird decreased their price target on shares of AMETEK from $173.00 to $171.00 and set a “neutral” rating for the company in a research note on Monday, May 6th. Four research analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. Based on data from MarketBeat.com, AMETEK has an average rating of “Moderate Buy” and an average price target of $181.20.

Insider Buying and Selling at AMETEK

In other news, Director Steven W. Kohlhagen sold 1,440 shares of AMETEK stock in a transaction that occurred on Wednesday, June 12th. The shares were sold at an average price of $173.93, for a total value of $250,459.20. Following the completion of the sale, the director now directly owns 24,809 shares in the company, valued at $4,315,029.37. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In other AMETEK news, Director Steven W. Kohlhagen sold 1,470 shares of the stock in a transaction dated Wednesday, May 15th. The stock was sold at an average price of $170.20, for a total value of $250,194.00. Following the transaction, the director now owns 26,249 shares of the company’s stock, valued at $4,467,579.80. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director Steven W. Kohlhagen sold 1,440 shares of the business’s stock in a transaction dated Wednesday, June 12th. The shares were sold at an average price of $173.93, for a total value of $250,459.20. Following the sale, the director now owns 24,809 shares of the company’s stock, valued at $4,315,029.37. The disclosure for this sale can be found here. Company insiders own 0.61% of the company’s stock.

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.