Bessemer Group Inc. Sells 28,889 Shares of AMETEK, Inc. (NYSE:AME)

Bessemer Group Inc. reduced its position in shares of AMETEK, Inc. (NYSE:AME - Free Report) by 4.8% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 572,122 shares of the technology company's stock after selling 28,889 shares during the period. Bessemer Group Inc. owned approximately 0.25% of AMETEK worth $98,487,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also added to or reduced their stakes in the company. EWA LLC increased its position in AMETEK by 4.9% during the 1st quarter. EWA LLC now owns 1,382 shares of the technology company's stock worth $238,000 after buying an additional 65 shares during the period. Kensington Investment Counsel LLC increased its position in AMETEK by 0.5% during the fourth quarter. Kensington Investment Counsel LLC now owns 14,277 shares of the technology company's stock worth $2,574,000 after acquiring an additional 66 shares during the period. Howard Capital Management Inc. raised its stake in AMETEK by 5.0% in the 4th quarter. Howard Capital Management Inc. now owns 1,501 shares of the technology company's stock worth $271,000 after purchasing an additional 72 shares in the last quarter. Legacy Advisors LLC boosted its holdings in AMETEK by 4.8% in the 1st quarter. Legacy Advisors LLC now owns 1,669 shares of the technology company's stock valued at $287,000 after purchasing an additional 76 shares during the period. Finally, Level Four Advisory Services LLC grew its position in shares of AMETEK by 3.1% during the 4th quarter. Level Four Advisory Services LLC now owns 2,624 shares of the technology company's stock worth $473,000 after purchasing an additional 80 shares in the last quarter. 87.43% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on AME. Truist Financial lifted their price target on shares of AMETEK from $196.00 to $200.00 and gave the company a "buy" rating in a research report on Monday, May 5th. Morgan Stanley began coverage on AMETEK in a research note on Monday, April 14th. They set an "equal weight" rating and a $170.00 price objective on the stock. Wall Street Zen upgraded AMETEK from a "hold" rating to a "buy" rating in a research report on Monday, May 12th. Mizuho set a $212.00 target price on AMETEK in a report on Friday, May 16th. Finally, Robert W. Baird dropped their price target on AMETEK from $197.00 to $190.00 and set a "neutral" rating for the company in a research note on Wednesday, May 7th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating, seven have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus price target of $197.89.

AMETEK Price Performance

Shares of AMETEK stock traded up $2.09 during trading on Thursday, reaching $180.09. 997,681 shares of the company's stock were exchanged, compared to its average volume of 1,296,106. The company has a debt-to-equity ratio of 0.15, a quick ratio of 0.86 and a current ratio of 1.41. AMETEK, Inc. has a 1-year low of $145.02 and a 1-year high of $198.33. The company has a market cap of $41.58 billion, a P/E ratio of 29.48, a PEG ratio of 2.69 and a beta of 1.10. The firm's 50-day moving average price is $174.33 and its 200 day moving average price is $177.38.

AMETEK (NYSE:AME - Get Free Report) last issued its earnings results on Thursday, May 1st. The technology company reported $1.75 EPS for the quarter, topping the consensus estimate of $1.69 by $0.06. AMETEK had a return on equity of 16.75% and a net margin of 20.43%. The firm had revenue of $1.73 billion during the quarter, compared to the consensus estimate of $1.74 billion. During the same quarter in the previous year, the firm earned $1.64 earnings per share. The business's quarterly revenue was down .2% on a year-over-year basis. As a group, research analysts anticipate that AMETEK, Inc. will post 7.15 earnings per share for the current year.

AMETEK Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, June 30th. Shareholders of record on Friday, June 13th will be given a $0.31 dividend. The ex-dividend date is Friday, June 13th. This represents a $1.24 dividend on an annualized basis and a yield of 0.69%. AMETEK's dividend payout ratio is currently 20.29%.

About AMETEK

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.