Brown Brothers Harriman & Co. Cuts Position in AMETEK, Inc. (NYSE:AME)

Brown Brothers Harriman & Co. lowered its holdings in shares of AMETEK, Inc. (NYSE:AME) by 1.5% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 6,294 shares of the technology company’s stock after selling 94 shares during the quarter. Brown Brothers Harriman & Co.’s holdings in AMETEK were worth $1,081,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of AME. Family Firm Inc. purchased a new stake in shares of AMETEK during the second quarter worth about $39,000. Industrial Alliance Investment Management Inc. purchased a new stake in AMETEK during the 2nd quarter worth approximately $42,000. Princeton Global Asset Management LLC acquired a new position in shares of AMETEK during the third quarter valued at approximately $44,000. Crewe Advisors LLC lifted its position in shares of AMETEK by 168.8% in the second quarter. Crewe Advisors LLC now owns 293 shares of the technology company’s stock valued at $49,000 after acquiring an additional 184 shares in the last quarter. Finally, First Command Advisory Services Inc. acquired a new stake in shares of AMETEK in the second quarter worth approximately $50,000. 87.43% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research analysts recently commented on the company. KeyCorp raised their price objective on AMETEK from $205.00 to $215.00 and gave the company an “overweight” rating in a report on Friday, November 22nd. Wolfe Research upgraded shares of AMETEK to a “hold” rating in a research report on Wednesday, September 18th. TD Cowen downgraded shares of AMETEK from a “hold” rating to a “sell” rating in a report on Monday, October 7th. Mizuho boosted their target price on AMETEK from $190.00 to $200.00 and gave the stock an “outperform” rating in a report on Friday, November 1st. Finally, Truist Financial increased their price target on AMETEK from $219.00 to $221.00 and gave the company a “buy” rating in a report on Friday, November 1st. One equities research analyst has rated the stock with a sell rating, three have given a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, AMETEK presently has an average rating of “Moderate Buy” and a consensus target price of $199.29.

Insider Transactions at AMETEK

In related news, Director Steven W. Kohlhagen sold 1,460 shares of the business’s stock in a transaction on Wednesday, September 25th. The stock was sold at an average price of $171.59, for a total value of $250,521.40. Following the sale, the director now owns 23,349 shares in the company, valued at approximately $4,006,454.91. The trade was a 5.88 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider David F. Hermance sold 6,243 shares of the firm’s stock in a transaction dated Friday, November 8th. The shares were sold at an average price of $190.99, for a total value of $1,192,350.57. Following the transaction, the insider now owns 36,731 shares of the company’s stock, valued at $7,015,253.69. This trade represents a 14.53 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 23,913 shares of company stock worth $4,636,404. 0.61% of the stock is currently owned by insiders.

AMETEK Stock Up 0.0 %

AME stock opened at $197.13 on Wednesday. The firm has a market cap of $45.60 billion, a PE ratio of 34.34, a PEG ratio of 3.22 and a beta of 1.16. AMETEK, Inc. has a one year low of $149.03 and a one year high of $198.33. The company has a debt-to-equity ratio of 0.18, a quick ratio of 0.84 and a current ratio of 1.39. The firm’s 50 day moving average price is $177.61 and its 200-day moving average price is $171.09.

AMETEK (NYSE:AME) last announced its quarterly 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 business had revenue of $1.71 billion for the quarter, compared to analyst estimates of $1.71 billion. AMETEK had a return on equity of 16.88% and a net margin of 19.27%. The company’s quarterly revenue was up 5.3% on a year-over-year basis. During the same quarter in the prior year, the company posted $1.64 EPS. On average, equities research analysts anticipate that AMETEK, Inc. will post 6.8 EPS for the current year.

AMETEK Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, December 20th. Stockholders of record on Friday, December 6th will be paid a $0.28 dividend. This represents a $1.12 dividend on an annualized basis and a dividend yield of 0.57%. The ex-dividend date is Friday, December 6th. AMETEK’s dividend payout ratio (DPR) is 19.51%.

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.