Sumitomo Mitsui Trust Group Inc. Purchases 5,375 Shares of AMETEK, Inc. (NYSE:AME)

Sumitomo Mitsui Trust Group Inc. grew its holdings in shares of AMETEK, Inc. (NYSE:AME) by 1.1% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 506,696 shares of the technology company’s stock after buying an additional 5,375 shares during the period. Sumitomo Mitsui Trust Group Inc.’s holdings in AMETEK were worth $87,005,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Family Firm Inc. bought a new stake in AMETEK during the second quarter worth about $39,000. Headlands Technologies LLC bought a new position in shares of AMETEK during the first quarter valued at approximately $43,000. Industrial Alliance Investment Management Inc. purchased a new position in shares of AMETEK during the second quarter valued at approximately $42,000. Princeton Global Asset Management LLC bought a new stake in shares of AMETEK in the 3rd quarter worth approximately $44,000. Finally, Crewe Advisors LLC grew its stake in shares of AMETEK by 168.8% in the 2nd quarter. Crewe Advisors LLC now owns 293 shares of the technology company’s stock worth $49,000 after buying an additional 184 shares during the last quarter. 87.43% of the stock is owned by hedge funds and other institutional investors.

AMETEK Stock Down 0.8 %

AMETEK stock opened at $193.85 on Friday. The stock has a market cap of $44.84 billion, a PE ratio of 33.77, a price-to-earnings-growth ratio of 3.17 and a beta of 1.16. 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 stock has a fifty day moving average of $172.43 and a 200 day moving average of $169.55. AMETEK, Inc. has a one year low of $149.03 and a one year high of $196.70.

AMETEK (NYSE:AME) last issued its quarterly earnings data 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 firm had revenue of $1.71 billion for the quarter, compared to analysts’ expectations of $1.71 billion. AMETEK had a net margin of 19.27% and a return on equity of 16.88%. The business’s quarterly revenue was up 5.3% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.64 EPS. As a group, sell-side analysts predict that AMETEK, Inc. will post 6.81 EPS for the current year.

AMETEK Dividend Announcement

The business also recently disclosed 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. The ex-dividend date is Friday, December 6th. This represents a $1.12 annualized dividend and a dividend yield of 0.58%. AMETEK’s dividend payout ratio (DPR) is 19.51%.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on AME shares. Redburn Atlantic raised AMETEK to a “strong-buy” rating in a report on Friday, August 2nd. StockNews.com upgraded shares of AMETEK from a “hold” rating to a “buy” rating in a research note on Monday, November 4th. Truist Financial lifted their target price on shares of AMETEK from $219.00 to $221.00 and gave the stock a “buy” rating in a report on Friday, November 1st. Royal Bank of Canada reduced their price target on shares of AMETEK from $216.00 to $215.00 and set an “outperform” rating for the company in a research report on Friday, August 2nd. Finally, Robert W. Baird upped their price objective on AMETEK from $166.00 to $186.00 and gave the company a “neutral” rating in a research report on Monday, November 4th. One analyst has rated the stock with a sell rating, two have assigned a hold rating, six have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $197.86.

Insider Buying and Selling

In related news, Director Steven W. Kohlhagen sold 1,460 shares of the stock in a transaction that occurred on Wednesday, September 25th. The shares were sold at an average price of $171.59, for a total value of $250,521.40. Following the completion of the sale, the director now directly owns 23,349 shares of the company’s stock, valued at approximately $4,006,454.91. This represents a 5.88 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider David F. Hermance sold 6,243 shares of AMETEK stock in a transaction that occurred on Friday, November 8th. The shares were sold at an average price of $190.99, for a total transaction of $1,192,350.57. Following the transaction, the insider now directly owns 36,731 shares in the company, valued at $7,015,253.69. This represents a 14.53 % decrease in their position. The disclosure for this sale can be found here. 0.61% of the stock is owned by insiders.

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.