Massachusetts Financial Services Co. MA Cuts Position in AMETEK, Inc. (NYSE:AME)

Massachusetts Financial Services Co. MA reduced its stake in shares of AMETEK, Inc. (NYSE:AME) by 32.6% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 4,955,301 shares of the technology company’s stock after selling 2,394,058 shares during the quarter. Massachusetts Financial Services Co. MA owned approximately 2.14% of AMETEK worth $850,875,000 as of its most recent SEC filing.

Other institutional investors also recently added to or reduced their stakes in the company. Primecap Management Co. CA grew its holdings in AMETEK by 1.0% in the third quarter. Primecap Management Co. CA now owns 355,900 shares of the technology company’s stock worth $61,112,000 after purchasing an additional 3,500 shares during the last quarter. King Luther Capital Management Corp grew its stake in AMETEK by 8.3% during the 3rd quarter. King Luther Capital Management Corp now owns 106,833 shares of the technology company’s stock worth $18,344,000 after buying an additional 8,195 shares during the last quarter. Moors & Cabot Inc. raised its stake in AMETEK by 2.9% in the third quarter. Moors & Cabot Inc. now owns 18,861 shares of the technology company’s stock valued at $3,239,000 after buying an additional 539 shares during the last quarter. Advisors Asset Management Inc. boosted its holdings in AMETEK by 276.9% in the third quarter. Advisors Asset Management Inc. now owns 1,990 shares of the technology company’s stock worth $342,000 after acquiring an additional 1,462 shares in the last quarter. Finally, Jennison Associates LLC increased its holdings in shares of AMETEK by 0.7% during the third quarter. Jennison Associates LLC now owns 361,647 shares of the technology company’s stock valued at $62,098,000 after acquiring an additional 2,524 shares in the last quarter. Institutional investors own 87.43% of the company’s stock.

AMETEK Price Performance

Shares of NYSE AME opened at $195.20 on Friday. 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 stock has a market capitalization of $45.15 billion, a price-to-earnings ratio of 34.01, a PEG ratio of 3.16 and a beta of 1.16. The firm’s 50 day simple moving average is $175.87 and its 200-day simple moving average is $170.49. AMETEK, Inc. has a 12 month low of $149.03 and a 12 month high of $196.70.

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

AMETEK Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, December 20th. Stockholders of record on Friday, December 6th will be paid a dividend of $0.28 per share. This represents a $1.12 annualized dividend and a dividend yield of 0.57%. The ex-dividend date is Friday, December 6th. AMETEK’s payout ratio is 19.51%.

Insider Buying and Selling at AMETEK

In related news, Director Steven W. Kohlhagen sold 1,460 shares of the stock in a transaction that occurred on Wednesday, September 25th. The stock was sold at an average price of $171.59, for a total value of $250,521.40. Following the completion of the sale, the director now owns 23,349 shares of the company’s stock, valued at approximately $4,006,454.91. This trade represents a 5.88 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider David F. Hermance sold 6,243 shares of the company’s stock in a transaction on Friday, November 8th. The shares were sold at an average price of $190.99, for a total value of $1,192,350.57. Following the completion of the sale, the insider now owns 36,731 shares of the company’s stock, valued at approximately $7,015,253.69. The trade was a 14.53 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.61% of the company’s stock.

Analyst Ratings Changes

Several research firms have weighed in on AME. StockNews.com downgraded shares of AMETEK from a “buy” rating to a “hold” rating in a research report on Friday, November 15th. Wolfe Research raised AMETEK to a “hold” rating in a research report on Wednesday, September 18th. Truist Financial lifted their price target on AMETEK from $219.00 to $221.00 and gave the stock a “buy” rating in a research report on Friday, November 1st. TD Cowen lowered AMETEK from a “hold” rating to a “sell” rating in a report on Monday, October 7th. Finally, Robert W. Baird upped their price objective on shares of AMETEK from $166.00 to $186.00 and gave the company a “neutral” rating in a report on Monday, November 4th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating, five have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $197.86.

AMETEK 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.