Capital International Investors Cuts Stock Position in AMETEK, Inc. (NYSE:AME)

Capital International Investors lessened its holdings in AMETEK, Inc. (NYSE:AME) by 24.0% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 3,188,953 shares of the technology company’s stock after selling 1,007,802 shares during the period. Capital International Investors owned about 1.38% of AMETEK worth $583,260,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in AME. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main increased its stake in AMETEK by 11.2% during the 4th quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 1,669,394 shares of the technology company’s stock worth $275,266,000 after buying an additional 167,602 shares during the period. Pacer Advisors Inc. raised its position in shares of AMETEK by 161.0% during the 4th quarter. Pacer Advisors Inc. now owns 44,684 shares of the technology company’s stock worth $7,368,000 after buying an additional 27,562 shares in the last quarter. Tyche Wealth Partners LLC bought a new stake in shares of AMETEK in the 4th quarter worth approximately $6,275,000. Cim LLC bought a new stake in shares of AMETEK in the 4th quarter worth approximately $1,254,000. Finally, Nomura Holdings Inc. acquired a new stake in shares of AMETEK during the fourth quarter valued at approximately $768,000. Hedge funds and other institutional investors own 87.43% of the company’s stock.

Insider Buying and Selling

In other news, Director Steven W. Kohlhagen sold 1,470 shares of the company’s stock in a transaction that occurred on Wednesday, May 15th. The stock was sold at an average price of $170.20, for a total value 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In other news, Director Steven W. Kohlhagen sold 1,470 shares of the firm’s stock in a transaction that occurred on 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 approximately $4,467,579.80. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Steven W. Kohlhagen sold 1,440 shares of the stock in a transaction on Wednesday, June 12th. The stock was sold at an average price of $173.93, for a total value of $250,459.20. Following the completion of the transaction, the director now owns 24,809 shares in the company, valued at $4,315,029.37. The disclosure for this sale can be found here. 0.61% of the stock is currently owned by company insiders.

Analyst Ratings Changes

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

AMETEK Stock Up 2.3 %

AME traded up $3.82 during trading on Friday, reaching $172.34. 864,601 shares of the stock were exchanged, compared to its average volume of 1,052,104. The stock has a market cap of $39.89 billion, a P/E ratio of 30.29, a price-to-earnings-growth ratio of 2.68 and a beta of 1.18. AMETEK, Inc. has a twelve month low of $136.89 and a twelve month high of $186.32. The stock’s 50 day moving average price is $169.46 and its two-hundred day moving average price is $172.42. The company has a debt-to-equity ratio of 0.21, a quick ratio of 0.66 and a current ratio of 1.11.

AMETEK (NYSE:AME) last released its quarterly earnings data on Thursday, May 2nd. The technology company reported $1.64 EPS for the quarter, beating 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 the consensus estimate of $1.78 billion. During the same period in the previous year, the company earned $1.49 earnings per share. The company’s quarterly revenue was up 9.0% on a year-over-year basis. Equities analysts expect that AMETEK, Inc. will post 6.81 EPS 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 0.65%. AMETEK’s dividend payout ratio is 19.68%.

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.