iA Global Asset Management Inc. Decreases Holdings in AMETEK, Inc. (NYSE:AME)

iA Global Asset Management Inc. trimmed its position in shares of AMETEK, Inc. (NYSE:AME) by 10.5% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 30,870 shares of the technology company’s stock after selling 3,639 shares during the period. iA Global Asset Management Inc.’s holdings in AMETEK were worth $5,646,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also bought and sold shares of the company. McGlone Suttner Wealth Management Inc. bought a new stake in shares of AMETEK in the 4th quarter worth approximately $25,000. Caprock Group LLC boosted its position in shares of AMETEK by 3.6% during the fourth quarter. Caprock Group LLC now owns 3,038 shares of the technology company’s stock valued at $501,000 after purchasing an additional 106 shares in the last quarter. apricus wealth LLC bought a new stake in shares of AMETEK during the fourth quarter valued at approximately $349,000. Prio Wealth Limited Partnership bought a new stake in shares of AMETEK during the fourth quarter valued at approximately $209,000. Finally, Carderock Capital Management Inc. boosted its position in shares of AMETEK by 14.0% during the fourth quarter. Carderock Capital Management Inc. now owns 48,946 shares of the technology company’s stock valued at $8,071,000 after purchasing an additional 6,004 shares in the last quarter. 87.43% of the stock is currently owned by institutional investors.

AMETEK Price Performance

Shares of NYSE:AME traded down $14.35 during mid-day trading on Thursday, reaching $159.13. The stock had a trading volume of 4,488,072 shares, compared to its average volume of 1,073,767. The company has a current ratio of 1.11, a quick ratio of 0.66 and a debt-to-equity ratio of 0.21. The company has a market cap of $36.83 billion, a P/E ratio of 27.62, a price-to-earnings-growth ratio of 2.77 and a beta of 1.18. AMETEK, Inc. has a 1 year low of $136.89 and a 1 year high of $186.32. The business’s 50 day moving average price is $169.57 and its 200 day moving average price is $172.67.

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

AMETEK Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, June 28th. Investors of record on Friday, June 14th were given a $0.28 dividend. The ex-dividend date was Friday, June 14th. This represents a $1.12 dividend on an annualized basis and a dividend yield of 0.70%. AMETEK’s dividend payout ratio is currently 19.68%.

Insider Buying and Selling

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

Analyst Ratings Changes

A number of research analysts have issued reports on the company. Robert W. Baird lowered their price objective on AMETEK from $173.00 to $171.00 and set a “neutral” rating for the company in a research note on Monday, May 6th. Truist Financial reduced their price objective on AMETEK from $210.00 to $204.00 and set a “buy” rating for the company in a research report on Tuesday, July 2nd. StockNews.com raised AMETEK from a “hold” rating to a “buy” rating in a report on Monday. Finally, Oppenheimer raised AMETEK from a “market perform” rating to an “outperform” rating and set a $200.00 price target for the company in a report on Wednesday, May 22nd. Three investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price 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.