Mutual Advisors LLC Lowers Holdings in AMETEK, Inc. (NYSE:AME)

Mutual Advisors LLC decreased its stake in AMETEK, Inc. (NYSE:AME) by 2.4% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 3,957 shares of the technology company’s stock after selling 96 shares during the quarter. Mutual Advisors LLC’s holdings in AMETEK were worth $716,000 as of its most recent SEC filing.

Other hedge funds have also recently modified their holdings of the company. Itau Unibanco Holding S.A. boosted its stake in shares of AMETEK by 62.6% in the third quarter. Itau Unibanco Holding S.A. now owns 200 shares of the technology company’s stock worth $34,000 after buying an additional 77 shares during the last quarter. Versant Capital Management Inc boosted its stake in shares of AMETEK by 3,116.7% in the fourth quarter. Versant Capital Management Inc now owns 193 shares of the technology company’s stock worth $35,000 after buying an additional 187 shares during the last quarter. AdvisorNet Financial Inc boosted its stake in shares of AMETEK by 1,176.5% in the fourth quarter. AdvisorNet Financial Inc now owns 217 shares of the technology company’s stock worth $39,000 after buying an additional 200 shares during the last quarter. Princeton Global Asset Management LLC purchased a new position in AMETEK during the third quarter worth approximately $44,000. Finally, Anchor Investment Management LLC boosted its position in AMETEK by 366.1% during the third quarter. Anchor Investment Management LLC now owns 261 shares of the technology company’s stock worth $45,000 after purchasing an additional 205 shares in the last quarter. Hedge funds and other institutional investors own 87.43% of the company’s stock.

AMETEK Price Performance

NYSE:AME opened at $187.91 on Monday. AMETEK, Inc. has a one year low of $149.03 and a one year high of $198.33. The company has a debt-to-equity ratio of 0.18, a quick ratio of 0.84 and a current ratio of 1.39. The stock has a market cap of $43.47 billion, a PE ratio of 32.74, a P/E/G ratio of 2.73 and a beta of 1.16. The stock has a 50 day moving average price of $186.47 and a 200 day moving average price of $175.93.

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

AMETEK Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, December 20th. Investors of record on Friday, December 6th were issued a $0.28 dividend. The ex-dividend date was Friday, December 6th. This represents a $1.12 dividend on an annualized basis and a yield of 0.60%. AMETEK’s dividend payout ratio (DPR) is presently 19.51%.

Insider Activity at AMETEK

In other AMETEK news, insider Tony J. Ciampitti sold 16,210 shares of AMETEK stock in a transaction dated Friday, November 22nd. The stock was sold at an average price of $197.01, for a total transaction of $3,193,532.10. Following the completion of the sale, the insider now directly owns 49,490 shares of the company’s stock, valued at $9,750,024.90. The trade was a 24.67 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, 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 directly owns 30,460 shares of the company’s stock, valued at $5,967,114. This trade represents a 18.13 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 29,200 shares of company stock worth $5,707,620. Company insiders own 0.61% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have issued reports on AME. Bank of America upgraded AMETEK from a “neutral” rating to a “buy” rating and increased their price target for the stock from $195.00 to $225.00 in a research report on Monday, December 16th. Mizuho increased their price target on AMETEK from $190.00 to $200.00 and gave the stock an “outperform” rating in a research report on Friday, November 1st. Truist Financial increased their price target on AMETEK from $221.00 to $222.00 and gave the stock a “buy” rating in a research report on Thursday, January 16th. Robert W. Baird increased their price target on AMETEK from $166.00 to $186.00 and gave the stock a “neutral” rating in a research report on Monday, November 4th. Finally, KeyCorp increased their price target on 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 given a hold rating, seven have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $203.44.

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.