AMETEK, Inc. (NYSE:AME) Position Cut by Amalgamated Bank

Amalgamated Bank lowered its holdings in shares of AMETEK, Inc. (NYSE:AME) by 6.4% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 57,064 shares of the technology company’s stock after selling 3,926 shares during the period. Amalgamated Bank’s holdings in AMETEK were worth $9,409,000 as of its most recent SEC filing.

A number of other institutional investors also recently added to or reduced their stakes in the business. McGlone Suttner Wealth Management Inc. bought a new stake in shares of AMETEK during the fourth quarter valued at about $25,000. Wetzel Investment Advisors Inc. bought a new stake in shares of AMETEK during the 4th quarter worth about $25,000. Turtle Creek Wealth Advisors LLC bought a new position in shares of AMETEK in the fourth quarter valued at approximately $26,000. Bruce G. Allen Investments LLC acquired a new position in shares of AMETEK during the fourth quarter valued at approximately $28,000. Finally, Rakuten Securities Inc. acquired a new position in shares of AMETEK during the fourth quarter valued at approximately $31,000. Institutional investors and hedge funds own 87.43% of the company’s stock.

AMETEK Stock Up 2.0 %

NYSE AME traded up $3.22 during trading on Friday, hitting $166.56. 2,065,100 shares of the company traded hands, compared to its average volume of 956,196. AMETEK, Inc. has a 12 month low of $136.89 and a 12 month high of $186.32. The business has a fifty day simple moving average of $179.88 and a 200 day simple moving average of $165.94. The company has a market capitalization of $38.51 billion, a P/E ratio of 29.26, a PEG ratio of 2.61 and a beta of 1.21. The company has a current ratio of 1.11, a quick ratio of 0.59 and a debt-to-equity ratio of 0.21.

AMETEK (NYSE:AME) last posted its earnings results on Thursday, May 2nd. The technology company reported $1.64 earnings per share for the quarter, topping the consensus estimate of $1.59 by $0.05. AMETEK had a return on equity of 17.74% and a net margin of 19.57%. The firm had revenue of $1.74 billion during the quarter, compared to analyst estimates of $1.78 billion. During the same period in the previous year, the company earned $1.49 EPS. The company’s revenue for the quarter was up 9.0% on a year-over-year basis. As a group, sell-side analysts predict that AMETEK, Inc. will post 6.82 EPS for the current year.

AMETEK Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, March 28th. Stockholders of record on Friday, March 8th were given a $0.28 dividend. This is an increase from AMETEK’s previous quarterly dividend of $0.25. This represents a $1.12 annualized dividend and a dividend yield of 0.67%. The ex-dividend date of this dividend was Thursday, March 7th. AMETEK’s dividend payout ratio (DPR) is currently 19.68%.

Insiders Place Their Bets

In other news, CFO William Joseph Burke sold 5,973 shares of the firm’s stock in a transaction on Monday, February 12th. The shares were sold at an average price of $168.90, for a total value of $1,008,839.70. Following the sale, the chief financial officer now owns 101,709 shares in the company, valued at $17,178,650.10. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. In other AMETEK news, Director Steven W. Kohlhagen sold 1,400 shares of the company’s stock in a transaction that occurred on Tuesday, March 12th. The stock was sold at an average price of $180.59, for a total value of $252,826.00. Following the completion of the transaction, the director now owns 28,054 shares of the company’s stock, valued at approximately $5,066,271.86. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CFO William Joseph Burke sold 5,973 shares of AMETEK stock in a transaction that occurred on Monday, February 12th. The stock was sold at an average price of $168.90, for a total value of $1,008,839.70. Following the sale, the chief financial officer now directly owns 101,709 shares in the company, valued at approximately $17,178,650.10. The disclosure for this sale can be found here. Insiders have sold a total of 59,881 shares of company stock valued at $10,689,758 in the last three months. Company insiders own 0.61% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on the company. StockNews.com cut AMETEK from a “buy” rating to a “hold” rating in a research note on Saturday, March 2nd. KeyCorp increased their target price on AMETEK from $182.00 to $205.00 and gave the company an “overweight” rating in a report on Tuesday, February 27th. Truist Financial started coverage on shares of AMETEK in a report on Thursday, March 14th. They set a “buy” rating and a $210.00 price target for the company. Finally, Royal Bank of Canada cut their price objective on AMETEK from $192.00 to $188.00 and set an “outperform” rating for the company in a report on Wednesday, February 7th. Three research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat.com, AMETEK presently has an average rating of “Moderate Buy” and an average price target of $180.78.

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.