Trivant Custom Portfolio Group LLC reduced its position in AMETEK, Inc. (NYSE:AME - Free Report) by 40.0% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 9,817 shares of the technology company's stock after selling 6,536 shares during the quarter. Trivant Custom Portfolio Group LLC's holdings in AMETEK were worth $1,690,000 as of its most recent SEC filing.
Other institutional investors have also added to or reduced their stakes in the company. Vontobel Holding Ltd. increased its stake in AMETEK by 7.5% in the fourth quarter. Vontobel Holding Ltd. now owns 5,348 shares of the technology company's stock worth $964,000 after purchasing an additional 373 shares during the period. Bank Pictet & Cie Europe AG raised its position in AMETEK by 23.5% during the 4th quarter. Bank Pictet & Cie Europe AG now owns 183,024 shares of the technology company's stock valued at $32,992,000 after purchasing an additional 34,866 shares in the last quarter. Catalyst Capital Advisors LLC raised its holdings in shares of AMETEK by 188.1% in the fourth quarter. Catalyst Capital Advisors LLC now owns 363 shares of the technology company's stock valued at $65,000 after acquiring an additional 237 shares in the last quarter. CIBC Asset Management Inc lifted its position in shares of AMETEK by 12.8% in the 4th quarter. CIBC Asset Management Inc now owns 38,535 shares of the technology company's stock worth $6,946,000 after purchasing an additional 4,376 shares during the period. Finally, Atria Wealth Solutions Inc. boosted its stake in shares of AMETEK by 31.7% during the fourth quarter. Atria Wealth Solutions Inc. now owns 5,130 shares of the technology company's stock valued at $925,000 after purchasing an additional 1,234 shares in the last quarter. Institutional investors own 87.43% of the company's stock.
AMETEK Stock Performance
Shares of AME stock traded up $2.03 during trading hours on Thursday, hitting $177.58. The company's stock had a trading volume of 1,332,661 shares, compared to its average volume of 1,288,090. AMETEK, Inc. has a 12-month low of $145.02 and a 12-month high of $198.33. The company has a current ratio of 1.41, a quick ratio of 0.86 and a debt-to-equity ratio of 0.15. The stock has a market cap of $41.00 billion, a PE ratio of 29.06, a price-to-earnings-growth ratio of 2.63 and a beta of 1.10. The company has a 50 day moving average of $172.49 and a 200 day moving average of $177.94.
AMETEK (NYSE:AME - Get Free Report) last released its quarterly earnings data on Thursday, May 1st. The technology company reported $1.75 earnings per share for the quarter, beating analysts' consensus estimates of $1.69 by $0.06. AMETEK had a return on equity of 16.75% and a net margin of 20.43%. The business had revenue of $1.73 billion during the quarter, compared to analyst estimates of $1.74 billion. During the same quarter last year, the business posted $1.64 EPS. The company's revenue was down .2% on a year-over-year basis. On average, sell-side analysts forecast that AMETEK, Inc. will post 7.15 EPS for the current fiscal year.
AMETEK Dividend Announcement
The company also recently announced a quarterly dividend, which will be paid on Monday, June 30th. Stockholders of record on Friday, June 13th will be paid a dividend of $0.31 per share. This represents a $1.24 annualized dividend and a dividend yield of 0.70%. The ex-dividend date of this dividend is Friday, June 13th. AMETEK's payout ratio is currently 20.29%.
Insider Activity at AMETEK
In related news, Director Thomas A. Amato sold 710 shares of AMETEK stock in a transaction on Thursday, March 27th. The shares were sold at an average price of $176.64, for a total value of $125,414.40. Following the sale, the director now owns 10,560 shares of the company's stock, valued at approximately $1,865,318.40. This trade represents a 6.30% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.57% of the stock is owned by company insiders.
Analysts Set New Price Targets
A number of analysts have weighed in on AME shares. Wall Street Zen upgraded AMETEK from a "hold" rating to a "buy" rating in a report on Monday, May 12th. Robert W. Baird reduced their target price on shares of AMETEK from $197.00 to $190.00 and set a "neutral" rating for the company in a report on Wednesday, May 7th. Morgan Stanley assumed coverage on AMETEK in a report on Monday, April 14th. They set an "equal weight" rating and a $170.00 price objective for the company. Truist Financial boosted their target price on AMETEK from $196.00 to $200.00 and gave the stock a "buy" rating in a research note on Monday, May 5th. Finally, Mizuho set a $212.00 price objective on shares of AMETEK in a research report on Friday, May 16th. One analyst has rated the stock with a sell rating, three have given a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average price target of $197.89.
Read Our Latest Analysis on AME
AMETEK Company Profile
(
Free Report)
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.
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