Quantinno Capital Management LP Purchases 4,974 Shares of AMETEK, Inc. (NYSE:AME)

Quantinno Capital Management LP increased its position in AMETEK, Inc. (NYSE:AME) by 51.6% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 14,614 shares of the technology company’s stock after purchasing an additional 4,974 shares during the quarter. Quantinno Capital Management LP’s holdings in AMETEK were worth $2,509,000 as of its most recent SEC filing.

Other large investors have also modified their holdings of the company. BNP Paribas Financial Markets raised its stake in AMETEK by 23.2% in the third quarter. BNP Paribas Financial Markets now owns 355,828 shares of the technology company’s stock valued at $61,099,000 after buying an additional 67,025 shares during the last quarter. Assenagon Asset Management S.A. lifted its position in shares of AMETEK by 68.2% in the second quarter. Assenagon Asset Management S.A. now owns 152,132 shares of the technology company’s stock valued at $25,362,000 after acquiring an additional 61,677 shares in the last quarter. Sawgrass Asset Management LLC boosted its position in AMETEK by 36.5% during the third quarter. Sawgrass Asset Management LLC now owns 74,757 shares of the technology company’s stock worth $12,837,000 after acquiring an additional 20,001 shares during the last quarter. Taurus Asset Management LLC grew its holdings in AMETEK by 2.9% in the 3rd quarter. Taurus Asset Management LLC now owns 115,033 shares of the technology company’s stock valued at $19,752,000 after buying an additional 3,210 shares in the last quarter. Finally, Williams Financial LLC purchased a new stake in shares of AMETEK during the 2nd quarter valued at approximately $6,040,000. Institutional investors own 87.43% of the company’s stock.

Insider Activity at AMETEK

In other news, insider Tony J. Ciampitti sold 16,210 shares of the business’s stock in a transaction on Friday, November 22nd. The shares were sold at an average price of $197.01, for a total transaction of $3,193,532.10. Following the transaction, the insider now directly owns 49,490 shares in the company, valued at $9,750,024.90. The trade was a 24.67 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Steven W. Kohlhagen sold 1,460 shares of the stock in a transaction that occurred 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 completion of the transaction, the director now owns 23,349 shares in the company, valued at $4,006,454.91. This represents a 5.88 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 30,660 shares of company stock worth $5,958,141 over the last ninety days. 0.61% of the stock is currently owned by corporate insiders.

AMETEK Stock Down 0.7 %

Shares of NYSE AME opened at $188.63 on Wednesday. The company has a market cap of $43.63 billion, a P/E ratio of 32.86, a P/E/G ratio of 3.13 and a beta of 1.15. The stock has a fifty day moving average price of $181.68 and a 200 day moving average price of $172.62. AMETEK, Inc. has a 12-month low of $149.03 and a 12-month high of $198.33. The company has a current ratio of 1.39, a quick ratio of 0.84 and a debt-to-equity ratio of 0.18.

AMETEK (NYSE:AME) last released its earnings results on Thursday, October 31st. The technology company reported $1.66 earnings per share for the quarter, topping the consensus estimate of $1.62 by $0.04. The company had revenue of $1.71 billion during the quarter, compared to the consensus estimate of $1.71 billion. AMETEK had a net margin of 19.27% and a return on equity of 16.88%. The company’s revenue was up 5.3% on a year-over-year basis. During the same quarter in the previous year, the firm earned $1.64 EPS. Research analysts anticipate that AMETEK, Inc. will post 6.8 EPS for the current fiscal year.

AMETEK Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, December 20th. Shareholders of record on Friday, December 6th will be paid a dividend of $0.28 per share. This represents a $1.12 dividend on an annualized basis and a yield of 0.59%. The ex-dividend date of this dividend is Friday, December 6th. AMETEK’s payout ratio is 19.51%.

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on AME. Robert W. Baird lifted their price objective on AMETEK from $166.00 to $186.00 and gave the company a “neutral” rating in a research note on Monday, November 4th. StockNews.com upgraded shares of AMETEK from a “hold” rating to a “buy” rating in a research note on Wednesday, December 4th. Truist Financial boosted their price target on shares of AMETEK from $219.00 to $221.00 and gave the stock a “buy” rating in a research note on Friday, November 1st. TD Cowen cut AMETEK from a “hold” rating to a “sell” rating in a report on Monday, October 7th. Finally, KeyCorp upped their price objective on AMETEK from $205.00 to $215.00 and gave the company an “overweight” rating in a research report on Friday, November 22nd. One equities research analyst has rated the stock with a sell rating, two have given a hold rating, six have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $199.29.

AMETEK Company 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.