Sumitomo Mitsui Trust Group Inc. Boosts Stock Position in AMETEK, Inc. (NYSE:AME)

Sumitomo Mitsui Trust Group Inc. grew its holdings in shares of AMETEK, Inc. (NYSE:AME) by 1.1% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 506,696 shares of the technology company’s stock after purchasing an additional 5,375 shares during the quarter. Sumitomo Mitsui Trust Group Inc. owned approximately 0.22% of AMETEK worth $87,005,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. Family Firm Inc. purchased a new position in AMETEK in the second quarter valued at about $39,000. Industrial Alliance Investment Management Inc. bought a new position in AMETEK during the second quarter valued at $42,000. Headlands Technologies LLC purchased a new stake in AMETEK in the first quarter worth $43,000. Princeton Global Asset Management LLC bought a new stake in shares of AMETEK in the third quarter valued at $44,000. Finally, Crewe Advisors LLC grew its stake in shares of AMETEK by 168.8% during the 2nd quarter. Crewe Advisors LLC now owns 293 shares of the technology company’s stock worth $49,000 after acquiring an additional 184 shares during the period. 87.43% of the stock is currently owned by institutional investors.

Insider Activity at AMETEK

In other AMETEK news, Director Steven W. Kohlhagen sold 1,460 shares of the business’s stock in a transaction on Wednesday, September 25th. The shares were sold at an average price of $171.59, for a total transaction of $250,521.40. Following the transaction, the director now directly owns 23,349 shares of the company’s stock, valued at approximately $4,006,454.91. The trade was a 5.88 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider David F. Hermance sold 6,243 shares of the firm’s stock in a transaction dated Friday, November 8th. The stock was sold at an average price of $190.99, for a total transaction of $1,192,350.57. Following the completion of the sale, the insider now directly owns 36,731 shares of the company’s stock, valued at approximately $7,015,253.69. This represents a 14.53 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.61% of the stock is owned by corporate insiders.

AMETEK Price Performance

AMETEK stock opened at $193.85 on Friday. The stock has a market cap of $44.84 billion, a price-to-earnings ratio of 33.77, a PEG ratio of 3.17 and a beta of 1.16. The company has a quick ratio of 0.84, a current ratio of 1.39 and a debt-to-equity ratio of 0.18. The business has a 50-day simple moving average of $172.43 and a 200 day simple moving average of $169.55. AMETEK, Inc. has a 52 week low of $149.03 and a 52 week high of $196.70.

AMETEK (NYSE:AME) last released its earnings results on Thursday, October 31st. The technology company reported $1.66 EPS for the quarter, beating the consensus estimate of $1.62 by $0.04. The company had revenue of $1.71 billion for the quarter, compared to analyst estimates of $1.71 billion. AMETEK had a net margin of 19.27% and a return on equity of 16.88%. The firm’s quarterly revenue was up 5.3% compared to the same quarter last year. During the same quarter last year, the firm earned $1.64 EPS. On average, research analysts forecast that AMETEK, Inc. will post 6.81 earnings per share for the current fiscal year.

AMETEK Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, December 20th. Investors of record on Friday, December 6th will be issued a dividend of $0.28 per share. This represents a $1.12 annualized dividend and a yield of 0.58%. The ex-dividend date of this dividend is Friday, December 6th. AMETEK’s dividend payout ratio is presently 19.51%.

Analyst Upgrades and Downgrades

AME has been the topic of a number of research reports. Redburn Atlantic raised shares of AMETEK to a “strong-buy” rating in a report on Friday, August 2nd. TD Cowen downgraded shares of AMETEK from a “hold” rating to a “sell” rating in a report on Monday, October 7th. StockNews.com raised shares of AMETEK from a “hold” rating to a “buy” rating in a report on Monday, November 4th. Truist Financial raised their price target on AMETEK from $219.00 to $221.00 and gave the stock a “buy” rating in a report on Friday, November 1st. Finally, Wolfe Research raised AMETEK to a “hold” rating in a report on Wednesday, September 18th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, AMETEK presently has an average rating of “Moderate Buy” and a consensus price target of $197.86.

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.