Los Angeles Capital Management LLC Sells 43,003 Shares of AMETEK, Inc. (NYSE:AME)

Los Angeles Capital Management LLC lowered its stake in shares of AMETEK, Inc. (NYSE:AME - Free Report) by 30.7% in the 4th quarter, according to the company in its most recent disclosure with the SEC. The firm owned 96,946 shares of the technology company's stock after selling 43,003 shares during the quarter. Los Angeles Capital Management LLC's holdings in AMETEK were worth $15,985,000 as of its most recent SEC filing.

Other large investors have also added to or reduced their stakes in the company. Morgan Stanley grew its position in shares of AMETEK by 19.2% during the 3rd quarter. Morgan Stanley now owns 4,189,108 shares of the technology company's stock valued at $618,983,000 after acquiring an additional 674,549 shares during the period. Flossbach Von Storch AG grew its holdings in AMETEK by 10.8% during the fourth quarter. Flossbach Von Storch AG now owns 2,586,030 shares of the technology company's stock valued at $426,410,000 after purchasing an additional 252,455 shares during the period. Northern Trust Corp increased its position in AMETEK by 4.3% in the third quarter. Northern Trust Corp now owns 2,362,467 shares of the technology company's stock worth $349,078,000 after buying an additional 96,793 shares during the last quarter. Charles Schwab Investment Management Inc. raised its stake in shares of AMETEK by 0.9% in the third quarter. Charles Schwab Investment Management Inc. now owns 1,193,916 shares of the technology company's stock valued at $176,413,000 after buying an additional 10,893 shares during the period. Finally, Adage Capital Partners GP L.L.C. lifted its position in shares of AMETEK by 84.9% during the 3rd quarter. Adage Capital Partners GP L.L.C. now owns 1,081,557 shares of the technology company's stock valued at $159,811,000 after buying an additional 496,523 shares during the last quarter. Hedge funds and other institutional investors own 87.43% of the company's stock.

Wall Street Analysts Forecast Growth

AME has been the topic of a number of research reports. KeyCorp boosted their price objective on AMETEK from $182.00 to $205.00 and gave the company an "overweight" rating in a research note on Tuesday, February 27th. StockNews.com downgraded shares of AMETEK from a "buy" rating to a "hold" rating in a report on Saturday, March 2nd. Royal Bank of Canada lowered their target price on shares of AMETEK from $192.00 to $188.00 and set an "outperform" rating on the stock in a report on Wednesday, February 7th. Finally, Truist Financial started coverage on AMETEK in a report on Thursday, March 14th. They issued a "buy" rating and a $210.00 price target for the company. Three equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus price target of $180.78.

Insiders Place Their Bets

In other news, Director Thomas A. Amato sold 780 shares of the firm's stock in a transaction on Tuesday, March 26th. The shares were sold at an average price of $182.00, for a total transaction of $141,960.00. Following the sale, the director now owns 10,240 shares in the company, valued at approximately $1,863,680. The transaction was disclosed in a filing with the SEC, which is accessible through this link. In related news, Director Thomas A. Amato sold 780 shares of the firm's stock in a transaction dated Tuesday, March 26th. The stock was sold at an average price of $182.00, for a total transaction of $141,960.00. Following the transaction, the director now directly owns 10,240 shares of the company's stock, valued at approximately $1,863,680. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, VP Thomas M. Montgomery sold 6,891 shares of the business's stock in a transaction that occurred on Thursday, March 21st. The stock was sold at an average price of $185.38, for a total value of $1,277,453.58. Following the completion of the sale, the vice president now owns 21,543 shares of the company's stock, valued at approximately $3,993,641.34. The disclosure for this sale can be found here. Insiders sold a total of 59,881 shares of company stock valued at $10,689,758 in the last quarter. Corporate insiders own 0.61% of the company's stock.

AMETEK Price Performance

Shares of AMETEK stock traded up $3.22 during trading on Friday, hitting $166.56. The stock had a trading volume of 2,065,100 shares, compared to its average volume of 956,196. The firm has a market cap of $38.51 billion, a price-to-earnings ratio of 29.27, a P/E/G ratio of 2.61 and a beta of 1.21. AMETEK, Inc. has a 12 month low of $136.89 and a 12 month high of $186.32. The business's 50-day moving average is $179.64 and its 200 day moving average is $166.05. The company has a current ratio of 1.11, a quick ratio of 0.59 and a debt-to-equity ratio of 0.21.

AMETEK (NYSE:AME - Get Free Report) last announced its earnings results on Thursday, May 2nd. The technology company reported $1.64 earnings per share for the quarter, topping analysts' consensus estimates of $1.59 by $0.05. The business had revenue of $1.74 billion for the quarter, compared to analyst estimates of $1.78 billion. AMETEK had a return on equity of 17.74% and a net margin of 19.57%. The company's quarterly revenue was up 9.0% compared to the same quarter last year. During the same period in the prior year, the company earned $1.49 EPS. As a group, sell-side analysts anticipate that AMETEK, Inc. will post 6.82 earnings per share for the current year.

AMETEK Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, March 28th. Shareholders of record on Friday, March 8th were given a dividend of $0.28 per share. The ex-dividend date of this dividend was Thursday, March 7th. This is a positive change from AMETEK's previous quarterly dividend of $0.25. This represents a $1.12 annualized dividend and a yield of 0.67%. AMETEK's payout ratio is presently 19.68%.

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.