BI Asset Management Fondsmaeglerselskab A S Sells 1,210 Shares of AMETEK, Inc. (NYSE:AME)

BI Asset Management Fondsmaeglerselskab A S reduced its stake in shares of AMETEK, Inc. (NYSE:AME) by 20.3% during the 1st quarter, HoldingsChannel.com reports. The institutional investor owned 4,754 shares of the technology company’s stock after selling 1,210 shares during the period. BI Asset Management Fondsmaeglerselskab A S’s holdings in AMETEK were worth $870,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in the stock. Vanguard Group Inc. raised its stake in shares of AMETEK by 0.3% in the 4th quarter. Vanguard Group Inc. now owns 25,578,270 shares of the technology company’s stock valued at $4,217,601,000 after purchasing an additional 84,832 shares during the period. Capital International Investors lifted its stake in AMETEK by 5.0% in the 4th quarter. Capital International Investors now owns 4,196,755 shares of the technology company’s stock valued at $692,051,000 after acquiring an additional 198,777 shares in the last quarter. Norges Bank acquired a new position in AMETEK during the 4th quarter worth approximately $589,098,000. Flossbach Von Storch AG grew its stake in shares of AMETEK by 10.8% during the 4th quarter. Flossbach Von Storch AG now owns 2,586,030 shares of the technology company’s stock worth $426,410,000 after acquiring an additional 252,455 shares in the last quarter. Finally, Dimensional Fund Advisors LP raised its holdings in shares of AMETEK by 17.6% in the fourth quarter. Dimensional Fund Advisors LP now owns 1,701,558 shares of the technology company’s stock valued at $280,573,000 after purchasing an additional 255,193 shares during the last quarter. Institutional investors and hedge funds own 87.43% of the company’s stock.

Insider Buying and Selling

In related news, Director Steven W. Kohlhagen sold 1,470 shares of the company’s stock in a transaction dated Wednesday, May 15th. The shares were sold at an average price of $170.20, for a total transaction of $250,194.00. Following the completion of the sale, the director now owns 26,249 shares of the company’s stock, valued at $4,467,579.80. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other AMETEK news, Director Steven W. Kohlhagen sold 1,470 shares of the business’s stock in a transaction dated Wednesday, May 15th. The stock was sold at an average price of $170.20, for a total transaction of $250,194.00. Following the completion of the transaction, the director now owns 26,249 shares of the company’s stock, valued at $4,467,579.80. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Steven W. Kohlhagen sold 1,440 shares of the business’s stock in a transaction dated Wednesday, June 12th. The stock was sold at an average price of $173.93, for a total value of $250,459.20. Following the transaction, the director now directly owns 24,809 shares of the company’s stock, valued at approximately $4,315,029.37. The disclosure for this sale can be found here. 0.61% of the stock is currently owned by company insiders.

AMETEK Stock Performance

Shares of AMETEK stock traded up $0.80 during trading on Wednesday, reaching $164.93. The company’s stock had a trading volume of 158,660 shares, compared to its average volume of 1,052,812. The business’s 50-day moving average price is $168.91 and its 200-day moving average price is $171.84. The firm has a market cap of $38.18 billion, a PE ratio of 29.03, a P/E/G ratio of 2.64 and a beta of 1.18. 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.

AMETEK (NYSE:AME) last announced its earnings results on Thursday, May 2nd. The technology company reported $1.64 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.59 by $0.05. AMETEK had a net margin of 19.57% and a return on equity of 17.74%. The company had revenue of $1.74 billion during the quarter, compared to analysts’ expectations of $1.78 billion. During the same quarter in the previous year, the business posted $1.49 earnings per share. AMETEK’s quarterly revenue was up 9.0% on a year-over-year basis. Equities analysts forecast that AMETEK, Inc. will post 6.81 earnings per share for the current year.

AMETEK Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, June 28th. Investors of record on Friday, June 14th were given a dividend of $0.28 per share. The ex-dividend date of this dividend was Friday, June 14th. This represents a $1.12 annualized dividend and a yield of 0.68%. AMETEK’s dividend payout ratio is 19.68%.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on AME. StockNews.com cut shares of AMETEK from a “buy” rating to a “hold” rating in a report on Tuesday, June 18th. Truist Financial lowered their target price on AMETEK from $210.00 to $204.00 and set a “buy” rating on the stock in a research report on Tuesday, July 2nd. Robert W. Baird lowered their price target on AMETEK from $173.00 to $171.00 and set a “neutral” rating on the stock in a research report on Monday, May 6th. Finally, Oppenheimer raised shares of AMETEK from a “market perform” rating to an “outperform” rating and set a $200.00 target price for the company in a research note on Wednesday, May 22nd. Four investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $181.20.

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.