Mediolanum International Funds Ltd lowered its stake in AMETEK, Inc. (NYSE:AME – Free Report) by 11.7% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 104,644 shares of the technology company’s stock after selling 13,811 shares during the quarter. Mediolanum International Funds Ltd’s holdings in AMETEK were worth $18,867,000 as of its most recent filing with the SEC.
Several other hedge funds have also modified their holdings of AME. EdgePoint Investment Group Inc. grew its position in AMETEK by 87.9% in the third quarter. EdgePoint Investment Group Inc. now owns 1,964,236 shares of the technology company’s stock valued at $337,279,000 after acquiring an additional 918,737 shares in the last quarter. Meridiem Investment Management Ltd. purchased a new position in shares of AMETEK in the third quarter valued at $130,579,000. Principal Financial Group Inc. grew its holdings in AMETEK by 72.0% during the 3rd quarter. Principal Financial Group Inc. now owns 1,680,309 shares of the technology company’s stock valued at $288,526,000 after purchasing an additional 703,501 shares in the last quarter. D1 Capital Partners L.P. purchased a new stake in AMETEK during the 3rd quarter worth $79,782,000. Finally, Assenagon Asset Management S.A. lifted its holdings in AMETEK by 434.5% in the 4th quarter. Assenagon Asset Management S.A. now owns 541,517 shares of the technology company’s stock worth $97,614,000 after buying an additional 440,197 shares in the last quarter. 87.43% of the stock is currently owned by hedge funds and other institutional investors.
Wall Street Analysts Forecast Growth
AME has been the subject of several recent analyst reports. Mizuho raised their target price on AMETEK from $190.00 to $200.00 and gave the company an “outperform” rating in a research note on Friday, November 1st. Truist Financial raised their price objective on AMETEK from $221.00 to $222.00 and gave the company a “buy” rating in a research note on Thursday, January 16th. StockNews.com raised AMETEK from a “hold” rating to a “buy” rating in a research report on Tuesday. KeyCorp increased their target price on AMETEK from $205.00 to $215.00 and gave the company an “overweight” rating in a research note on Friday, November 22nd. Finally, BNP Paribas upgraded shares of AMETEK from a “neutral” rating to an “outperform” rating and set a $210.00 price target for the company in a research note on Thursday, January 16th. One research analyst has rated the stock with a sell rating, two have given a hold rating, eight have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $203.44.
AMETEK Stock Up 1.9 %
Shares of NYSE:AME opened at $185.98 on Friday. The company’s fifty day moving average is $185.87 and its two-hundred day moving average is $176.25. The company has a debt-to-equity ratio of 0.18, a quick ratio of 0.84 and a current ratio of 1.39. AMETEK, Inc. has a 1-year low of $149.03 and a 1-year high of $198.33. The stock has a market capitalization of $43.02 billion, a price-to-earnings ratio of 32.40, a price-to-earnings-growth ratio of 2.73 and a beta of 1.16.
AMETEK (NYSE:AME – Get Free Report) last announced its quarterly earnings data on Thursday, October 31st. The technology company reported $1.66 earnings per share for the quarter, beating analysts’ consensus estimates of $1.62 by $0.04. AMETEK had a net margin of 19.27% and a return on equity of 16.88%. The business had revenue of $1.71 billion during the quarter, compared to the consensus estimate of $1.71 billion. During the same quarter in the prior year, the firm earned $1.64 EPS. The company’s revenue for the quarter was up 5.3% compared to the same quarter last year. Equities analysts anticipate that AMETEK, Inc. will post 6.8 EPS for the current year.
AMETEK Dividend Announcement
The business also recently declared a quarterly dividend, which was paid on Friday, December 20th. Stockholders of record on Friday, December 6th were given a dividend of $0.28 per share. This represents a $1.12 dividend on an annualized basis and a dividend yield of 0.60%. The ex-dividend date was Friday, December 6th. AMETEK’s payout ratio is 19.51%.
Insider Buying and Selling
In other AMETEK news, insider David F. Hermance sold 6,243 shares of the stock in a transaction on Friday, November 8th. The stock was sold at an average price of $190.99, for a total value of $1,192,350.57. Following the sale, the insider now directly 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 sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider Emanuela Speranza sold 6,747 shares of the business’s stock in a transaction on Tuesday, November 26th. The shares were sold at an average price of $195.90, for a total transaction of $1,321,737.30. Following the transaction, the insider now directly owns 30,460 shares of the company’s stock, valued at approximately $5,967,114. This trade represents a 18.13 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 29,200 shares of company stock valued at $5,707,620. Insiders own 0.61% of the company’s stock.
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.
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