Canandaigua National Bank & Trust Co. Has $603,000 Stock Position in AMETEK, Inc. (NYSE:AME)

Canandaigua National Bank & Trust Co. boosted its stake in shares of AMETEK, Inc. (NYSE:AME) by 5.0% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 3,343 shares of the technology company’s stock after buying an additional 160 shares during the period. Canandaigua National Bank & Trust Co.’s holdings in AMETEK were worth $603,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of AME. Legacy Wealth Management LLC MS boosted its position in AMETEK by 4.2% during the 4th quarter. Legacy Wealth Management LLC MS now owns 2,974 shares of the technology company’s stock worth $536,000 after acquiring an additional 120 shares during the period. Nordea Investment Management AB lifted its position in shares of AMETEK by 9.3% in the fourth quarter. Nordea Investment Management AB now owns 28,330 shares of the technology company’s stock worth $5,129,000 after purchasing an additional 2,406 shares in the last quarter. Everence Capital Management Inc. acquired a new stake in shares of AMETEK during the fourth quarter worth approximately $999,000. GAMMA Investing LLC grew its position in AMETEK by 9.2% during the fourth quarter. GAMMA Investing LLC now owns 5,270 shares of the technology company’s stock valued at $950,000 after purchasing an additional 442 shares in the last quarter. Finally, Versant Capital Management Inc increased its stake in AMETEK by 3,116.7% in the 4th quarter. Versant Capital Management Inc now owns 193 shares of the technology company’s stock valued at $35,000 after buying an additional 187 shares during the period. 87.43% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several analysts recently issued reports on AME shares. Mizuho increased their price objective on AMETEK from $190.00 to $200.00 and gave the stock an “outperform” rating in a report on Friday, November 1st. Truist Financial raised their price target on AMETEK from $219.00 to $221.00 and gave the stock a “buy” rating in a research note on Friday, November 1st. Wolfe Research raised AMETEK to a “hold” rating in a research note on Wednesday, September 18th. Bank of America upgraded shares of AMETEK from a “neutral” rating to a “buy” rating and lifted their target price for the company from $195.00 to $225.00 in a research note on Monday, December 16th. Finally, KeyCorp increased their target price on shares of AMETEK from $205.00 to $215.00 and gave the stock an “overweight” rating in a research report on Friday, November 22nd. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $202.50.

AMETEK Stock Down 0.1 %

NYSE AME opened at $179.33 on Tuesday. AMETEK, Inc. has a one year low of $149.03 and a one year high of $198.33. The stock’s 50 day simple moving average is $187.61 and its 200 day simple moving average is $174.53. The firm has a market cap of $41.48 billion, a PE ratio of 31.24, a price-to-earnings-growth ratio of 3.08 and a beta of 1.16. The company has a debt-to-equity ratio of 0.18, a current ratio of 1.39 and a quick ratio of 0.84.

AMETEK (NYSE:AME) last announced its quarterly earnings data on Thursday, October 31st. The technology company reported $1.66 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 business’s revenue for the quarter was up 5.3% on a year-over-year basis. During the same period last year, the firm earned $1.64 earnings per share. As a group, sell-side analysts forecast that AMETEK, Inc. will post 6.8 earnings per share for the current fiscal year.

AMETEK Dividend Announcement

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

Insider Transactions at AMETEK

In other AMETEK news, insider Emanuela Speranza sold 6,747 shares of AMETEK stock in a transaction dated 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 $5,967,114. This trade represents a 18.13 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Tony J. Ciampitti sold 16,210 shares of the company’s stock in a transaction dated Friday, November 22nd. The stock was sold at an average price of $197.01, for a total value of $3,193,532.10. Following the transaction, the insider now directly owns 49,490 shares of the company’s stock, valued at $9,750,024.90. This represents a 24.67 % 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 over the last 90 days. 0.61% of the stock is owned by company 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.