Congress Asset Management Co. MA Sells 654 Shares of AMETEK, Inc. (NYSE:AME)

Congress Asset Management Co. MA reduced its position in AMETEK, Inc. (NYSE:AME) by 0.8% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 80,273 shares of the technology company’s stock after selling 654 shares during the quarter. Congress Asset Management Co. MA’s holdings in AMETEK were worth $13,236,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of AME. Aviva PLC boosted its position in shares of AMETEK by 10.6% in the third quarter. Aviva PLC now owns 20,038 shares of the technology company’s stock valued at $2,961,000 after acquiring an additional 1,913 shares during the period. Kestra Advisory Services LLC lifted its holdings in shares of AMETEK by 487.9% in the 3rd quarter. Kestra Advisory Services LLC now owns 17,155 shares of the technology company’s stock worth $2,535,000 after acquiring an additional 14,237 shares during the last quarter. Prudential PLC lifted its holdings in shares of AMETEK by 168.2% in the 3rd quarter. Prudential PLC now owns 34,765 shares of the technology company’s stock worth $5,137,000 after acquiring an additional 21,804 shares during the last quarter. Rafferty Asset Management LLC increased its stake in shares of AMETEK by 10.4% in the third quarter. Rafferty Asset Management LLC now owns 18,347 shares of the technology company’s stock worth $2,711,000 after buying an additional 1,735 shares during the period. Finally, QRG Capital Management Inc. purchased a new position in shares of AMETEK in the third quarter worth $1,453,000. 87.43% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other AMETEK news, Director Steven W. Kohlhagen sold 1,440 shares of the firm’s stock in a transaction that occurred on Wednesday, June 12th. The shares were sold at an average price of $173.93, for a total transaction of $250,459.20. Following the sale, the director now owns 24,809 shares in the company, valued at approximately $4,315,029.37. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In other news, VP Thomas M. Montgomery sold 6,891 shares of AMETEK stock in a transaction that occurred on Thursday, March 21st. The shares were sold at an average price of $185.38, for a total transaction of $1,277,453.58. Following the sale, the vice president now owns 21,543 shares in the company, valued at $3,993,641.34. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, Director Steven W. Kohlhagen sold 1,440 shares of AMETEK stock in a transaction that occurred on Wednesday, June 12th. The shares were sold at an average price of $173.93, for a total transaction of $250,459.20. Following the sale, the director now owns 24,809 shares in the company, valued at approximately $4,315,029.37. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 37,981 shares of company stock worth $6,990,437. Company insiders own 0.61% of the company’s stock.

AMETEK Stock Performance

Shares of NYSE AME traded down $6.61 during trading on Friday, reaching $167.02. 1,875,898 shares of the company traded hands, compared to its average volume of 1,206,355. The firm has a 50 day simple moving average of $172.72 and a 200-day simple moving average of $170.95. AMETEK, Inc. has a 52-week low of $136.89 and a 52-week high of $186.32. The company has a quick ratio of 0.66, a current ratio of 1.11 and a debt-to-equity ratio of 0.21. The stock has a market capitalization of $38.66 billion, a PE ratio of 29.35, a P/E/G ratio of 2.67 and a beta of 1.20.

AMETEK (NYSE:AME) last issued its quarterly earnings data 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 net margin of 19.57% and a return on equity of 17.74%. The firm had revenue of $1.74 billion for the quarter, compared to analysts’ expectations of $1.78 billion. During the same quarter in the prior year, the business earned $1.49 EPS. The business’s quarterly revenue was up 9.0% on a year-over-year basis. Equities research analysts anticipate that AMETEK, Inc. will post 6.83 earnings per share for the current year.

AMETEK Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, June 28th. Shareholders of record on Friday, June 14th will be paid a dividend of $0.28 per share. This represents a $1.12 dividend on an annualized basis and a yield of 0.67%. The ex-dividend date is Friday, June 14th. AMETEK’s payout ratio is 19.68%.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on AME shares. Truist Financial started coverage on shares of AMETEK in a research note on Thursday, March 14th. They issued a “buy” rating and a $210.00 target price on the stock. Robert W. Baird reduced their price objective on shares of AMETEK from $173.00 to $171.00 and set a “neutral” rating on the stock in a research report on Monday, May 6th. StockNews.com raised shares of AMETEK from a “hold” rating to a “buy” rating in a research report on Monday, May 13th. Oppenheimer raised shares of AMETEK from a “market perform” rating to an “outperform” rating and set a $200.00 price objective on the stock in a research report on Wednesday, May 22nd. Finally, KeyCorp boosted their price objective on shares of AMETEK from $182.00 to $205.00 and gave the company an “overweight” rating in a research report on Tuesday, February 27th. Three research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. Based on data from MarketBeat.com, AMETEK presently has a consensus rating of “Moderate Buy” and a consensus price target of $181.80.

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.