Northwestern Mutual Wealth Management Co. Reduces Stock Holdings in AMETEK, Inc. (NYSE:AME)

Northwestern Mutual Wealth Management Co. cut its position in AMETEK, Inc. (NYSE:AME) by 1.1% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 8,281 shares of the technology company’s stock after selling 95 shares during the quarter. Northwestern Mutual Wealth Management Co.’s holdings in AMETEK were worth $1,381,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in the company. JPMorgan Chase & Co. boosted its holdings in shares of AMETEK by 48.4% in the first quarter. JPMorgan Chase & Co. now owns 7,075,565 shares of the technology company’s stock worth $1,294,121,000 after acquiring an additional 2,306,535 shares during the period. Bank of New York Mellon Corp lifted its holdings in shares of AMETEK by 34.6% in the second quarter. Bank of New York Mellon Corp now owns 3,602,753 shares of the technology company’s stock worth $600,615,000 after buying an additional 926,657 shares in the last quarter. Principal Financial Group Inc. lifted its holdings in shares of AMETEK by 256.3% in the second quarter. Principal Financial Group Inc. now owns 976,808 shares of the technology company’s stock worth $162,844,000 after buying an additional 702,674 shares in the last quarter. Dixon Mitchell Investment Counsel Inc. bought a new position in shares of AMETEK in the first quarter valued at approximately $46,343,000. Finally, Sei Investments Co. increased its holdings in AMETEK by 133.3% during the 1st quarter. Sei Investments Co. now owns 394,881 shares of the technology company’s stock worth $72,223,000 after acquiring an additional 225,600 shares during the period. Hedge funds and other institutional investors own 87.43% of the company’s stock.

Insider Activity

In related news, Director Steven W. Kohlhagen sold 1,460 shares of the firm’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 transaction of $250,521.40. Following the completion of the transaction, the director now owns 23,349 shares of the company’s stock, valued at $4,006,454.91. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 0.61% of the company’s stock.

Analyst Ratings Changes

Several brokerages have commented on AME. Wolfe Research raised shares of AMETEK to a “hold” rating in a report on Wednesday, September 18th. Truist Financial dropped their price objective on AMETEK from $204.00 to $201.00 and set a “buy” rating for the company in a research note on Friday, August 2nd. StockNews.com cut shares of AMETEK from a “buy” rating to a “hold” rating in a research report on Tuesday, August 6th. Royal Bank of Canada dropped their target price on shares of AMETEK from $216.00 to $215.00 and set an “outperform” rating for the company in a report on Friday, August 2nd. Finally, TD Cowen reduced their price target on AMETEK from $165.00 to $158.00 and set a “hold” rating on the stock in a report on Monday, August 5th. Four 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, AMETEK has a consensus rating of “Moderate Buy” and an average target price of $190.83.

AMETEK Price Performance

Shares of NYSE AME opened at $170.11 on Friday. AMETEK, Inc. has a 1 year low of $136.89 and a 1 year high of $186.32. The stock has a market capitalization of $39.38 billion, a P/E ratio of 29.90, a P/E/G ratio of 2.81 and a beta of 1.17. The company’s 50-day moving average is $166.34 and its 200 day moving average is $170.56. The company has a debt-to-equity ratio of 0.20, a current ratio of 1.26 and a quick ratio of 0.76.

AMETEK (NYSE:AME) last posted its earnings results on Thursday, August 1st. The technology company reported $1.66 earnings per share for the quarter, topping analysts’ consensus estimates of $1.64 by $0.02. The firm had revenue of $1.73 billion for the quarter, compared to the consensus estimate of $1.78 billion. AMETEK had a return on equity of 17.41% and a net margin of 19.51%. The business’s revenue for the quarter was up 5.4% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.57 EPS. On average, sell-side analysts expect that AMETEK, Inc. will post 6.77 earnings per share for the current year.

AMETEK Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, September 30th. Investors of record on Monday, September 16th were paid a dividend of $0.28 per share. This represents a $1.12 annualized dividend and a yield of 0.66%. The ex-dividend date was Monday, September 16th. AMETEK’s payout ratio is currently 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.