New York Life Investment Management LLC Sells 16,535 Shares of AMETEK, Inc. (NYSE:AME)

New York Life Investment Management LLC reduced its stake in shares of AMETEK, Inc. (NYSE:AME) by 33.6% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 32,687 shares of the technology company’s stock after selling 16,535 shares during the quarter. New York Life Investment Management LLC’s holdings in AMETEK were worth $5,390,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of AME. Buckhead Capital Management LLC increased its stake in shares of AMETEK by 5.8% in the 4th quarter. Buckhead Capital Management LLC now owns 22,418 shares of the technology company’s stock valued at $3,697,000 after buying an additional 1,221 shares during the period. ICW Investment Advisors LLC increased its position in AMETEK by 1.7% in the fourth quarter. ICW Investment Advisors LLC now owns 5,772 shares of the technology company’s stock worth $952,000 after purchasing an additional 97 shares during the period. Hartford Funds Management Co LLC raised its holdings in AMETEK by 7.5% during the 4th quarter. Hartford Funds Management Co LLC now owns 4,202 shares of the technology company’s stock worth $693,000 after purchasing an additional 293 shares during the last quarter. Savant Capital LLC lifted its position in AMETEK by 4.1% during the 4th quarter. Savant Capital LLC now owns 3,824 shares of the technology company’s stock valued at $631,000 after purchasing an additional 150 shares during the period. Finally, Kestra Private Wealth Services LLC boosted its stake in shares of AMETEK by 6.1% in the 4th quarter. Kestra Private Wealth Services LLC now owns 3,860 shares of the technology company’s stock valued at $636,000 after purchasing an additional 223 shares during the last quarter. Institutional investors and hedge funds own 87.43% of the company’s stock.

Insider Activity at AMETEK

In other AMETEK news, CFO William Joseph Burke sold 5,973 shares of the company’s stock in a transaction on Monday, February 12th. The stock was sold at an average price of $168.90, for a total transaction of $1,008,839.70. Following the completion of the sale, the chief financial officer now directly owns 101,709 shares in the company, valued at $17,178,650.10. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, Director Thomas A. Amato sold 780 shares of the business’s stock in a transaction on Tuesday, March 26th. The stock was sold at an average price of $182.00, for a total transaction of $141,960.00. Following the sale, the director now owns 10,240 shares in the company, valued at approximately $1,863,680. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO William Joseph Burke sold 5,973 shares of the firm’s stock in a transaction that occurred on Monday, February 12th. The shares were sold at an average price of $168.90, for a total transaction of $1,008,839.70. Following the completion of the transaction, the chief financial officer now owns 101,709 shares of the company’s stock, valued at approximately $17,178,650.10. The disclosure for this sale can be found here. Insiders have sold 59,881 shares of company stock valued at $10,689,758 over the last three months. 0.61% of the stock is owned by insiders.

Analysts Set New Price Targets

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

AMETEK Stock Up 1.9 %

AME stock opened at $166.49 on Friday. The company has a debt-to-equity ratio of 0.22, a current ratio of 0.98 and a quick ratio of 0.59. The business’s fifty day moving average price is $179.88 and its two-hundred day moving average price is $165.94. AMETEK, Inc. has a fifty-two week low of $136.89 and a fifty-two week high of $186.32. The stock has a market capitalization of $38.49 billion, a price-to-earnings ratio of 29.36, a PEG ratio of 2.78 and a beta of 1.21.

AMETEK (NYSE:AME) last announced its earnings results on Thursday, May 2nd. The technology company reported $1.64 EPS for the quarter, topping the consensus estimate of $1.59 by $0.05. AMETEK had a net margin of 19.91% and a return on equity of 17.96%. The company had revenue of $1.74 billion for the quarter, compared to analysts’ expectations of $1.78 billion. During the same period last year, the firm earned $1.49 earnings per share. The business’s revenue for the quarter was up 9.0% on a year-over-year basis. On average, equities analysts anticipate that AMETEK, Inc. will post 6.82 earnings per share for the current year.

AMETEK Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, March 28th. Investors of record on Friday, March 8th were given a dividend of $0.28 per share. This is a positive change from AMETEK’s previous quarterly dividend of $0.25. The ex-dividend date of this dividend was Thursday, March 7th. This represents a $1.12 annualized dividend and a dividend yield of 0.67%. AMETEK’s dividend payout ratio (DPR) is currently 19.75%.

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.