Nuveen Asset Management LLC Sells 207,013 Shares of AMETEK, Inc. (NYSE:AME)

Nuveen Asset Management LLC trimmed its holdings in shares of AMETEK, Inc. (NYSE:AME - Free Report) by 19.2% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 873,475 shares of the technology company's stock after selling 207,013 shares during the quarter. Nuveen Asset Management LLC owned 0.38% of AMETEK worth $157,453,000 at the end of the most recent quarter.

A number of other institutional investors have also recently added to or reduced their stakes in AME. Banque Transatlantique SA acquired a new position in shares of AMETEK in the 4th quarter worth approximately $37,000. AdvisorNet Financial Inc lifted its stake in shares of AMETEK by 1,176.5% in the fourth quarter. AdvisorNet Financial Inc now owns 217 shares of the technology company's stock valued at $39,000 after buying an additional 200 shares in the last quarter. Geneos Wealth Management Inc. lifted its stake in shares of AMETEK by 42.9% in the fourth quarter. Geneos Wealth Management Inc. now owns 233 shares of the technology company's stock valued at $42,000 after buying an additional 70 shares in the last quarter. OFI Invest Asset Management purchased a new stake in shares of AMETEK in the fourth quarter valued at about $43,000. Finally, Minot DeBlois Advisors LLC purchased a new stake in shares of AMETEK in the fourth quarter valued at about $43,000. 87.43% of the stock is owned by institutional investors.

Insider Buying and Selling at AMETEK

In other AMETEK news, Director Steven W. Kohlhagen sold 1,320 shares of the business's stock in a transaction on Monday, March 3rd. The shares were sold at an average price of $189.41, for a total transaction of $250,021.20. Following the transaction, the director now directly owns 22,029 shares of the company's stock, valued at approximately $4,172,512.89. The trade was a 5.65% 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, Director Thomas A. Amato sold 710 shares of the business's stock in a transaction on Thursday, March 27th. The shares were sold at an average price of $176.64, for a total transaction of $125,414.40. Following the transaction, the director now directly owns 10,560 shares in the company, valued at approximately $1,865,318.40. The trade was a 6.30% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.57% of the company's stock.

Wall Street Analyst Weigh In

Several analysts have recently commented on the stock. Mizuho set a $212.00 target price on shares of AMETEK in a report on Friday. Robert W. Baird cut their price objective on shares of AMETEK from $197.00 to $190.00 and set a "neutral" rating for the company in a research report on Wednesday, May 7th. Royal Bank of Canada raised their price objective on shares of AMETEK from $194.00 to $201.00 and gave the company an "outperform" rating in a research report on Friday, May 2nd. StockNews.com upgraded shares of AMETEK from a "hold" rating to a "buy" rating in a research report on Monday, May 12th. Finally, Truist Financial raised their price objective 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. One research analyst has rated the stock with a sell rating, three have issued a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat, AMETEK presently has an average rating of "Moderate Buy" and an average target price of $198.10.

AMETEK Trading Down 0.5%

Shares of NYSE AME traded down $0.98 during mid-day trading on Monday, hitting $181.77. The stock had a trading volume of 894,445 shares, compared to its average volume of 1,293,999. The company has a debt-to-equity ratio of 0.15, a quick ratio of 0.75 and a current ratio of 1.24. AMETEK, Inc. has a 1 year low of $145.02 and a 1 year high of $198.33. The business has a 50 day moving average price of $168.32 and a two-hundred day moving average price of $179.90. The firm has a market cap of $41.97 billion, a P/E ratio of 30.65, a price-to-earnings-growth ratio of 2.73 and a beta of 1.12.

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 net margin of 19.83% and a return on equity of 16.94%. The company had revenue of $1.73 billion for the quarter, compared to the consensus estimate of $1.74 billion. During the same period in the previous year, the firm earned $1.64 earnings per share. The firm's revenue for the quarter was down .2% on a year-over-year basis. On average, equities analysts anticipate that AMETEK, Inc. will post 7.15 EPS for the current fiscal year.

AMETEK announced that its Board of Directors has approved a share buyback plan on Friday, February 7th that allows the company to buyback $1.25 billion in outstanding shares. This buyback authorization allows the technology company to reacquire up to 2.9% of its stock through open market purchases. Stock buyback plans are often an indication that the company's management believes its stock is undervalued.

AMETEK Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 30th. Shareholders of record on Friday, June 13th will be given a dividend of $0.31 per share. This represents a $1.24 dividend on an annualized basis and a yield of 0.68%. The ex-dividend date of this dividend is Friday, June 13th. AMETEK's 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.