Fmr LLC Cuts Stock Position in AMETEK, Inc. (NYSE:AME)

Fmr LLC lessened its stake in shares of AMETEK, Inc. (NYSE:AME) by 2.9% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 8,857,783 shares of the technology company’s stock after selling 260,617 shares during the quarter. Fmr LLC owned about 3.83% of AMETEK worth $1,520,970,000 at the end of the most recent quarter.

Several other large investors have also modified their holdings of the stock. B. Riley Wealth Advisors Inc. raised its position in AMETEK by 42.6% in the first quarter. B. Riley Wealth Advisors Inc. now owns 1,919 shares of the technology company’s stock worth $351,000 after acquiring an additional 573 shares in the last quarter. Tidal Investments LLC raised its position in AMETEK by 15.1% in the first quarter. Tidal Investments LLC now owns 4,930 shares of the technology company’s stock worth $902,000 after acquiring an additional 646 shares in the last quarter. Comerica Bank raised its position in AMETEK by 0.4% in the first quarter. Comerica Bank now owns 74,825 shares of the technology company’s stock worth $13,685,000 after acquiring an additional 314 shares in the last quarter. Plato Investment Management Ltd raised its position in AMETEK by 29,554.5% in the first quarter. Plato Investment Management Ltd now owns 9,786 shares of the technology company’s stock worth $1,790,000 after acquiring an additional 9,753 shares in the last quarter. Finally, EdgePoint Investment Group Inc. raised its position in AMETEK by 1.1% in the first quarter. EdgePoint Investment Group Inc. now owns 945,183 shares of the technology company’s stock worth $172,874,000 after acquiring an additional 10,428 shares in the last quarter. Hedge funds and other institutional investors own 87.43% of the company’s stock.

AMETEK Stock Up 0.0 %

AME opened at $197.13 on Wednesday. The company has a quick ratio of 0.84, a current ratio of 1.39 and a debt-to-equity ratio of 0.18. The firm has a market cap of $45.60 billion, a P/E ratio of 34.34, a PEG ratio of 3.22 and a beta of 1.16. AMETEK, Inc. has a 52 week low of $149.03 and a 52 week high of $198.33. The business’s fifty day simple moving average is $177.61 and its 200 day simple moving average is $171.09.

AMETEK (NYSE:AME) last posted its quarterly earnings data on Thursday, October 31st. The technology company reported $1.66 EPS for the quarter, beating analysts’ consensus estimates 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 business’s revenue for the quarter was up 5.3% compared to the same quarter last year. During the same quarter last year, the company earned $1.64 earnings per share. As a group, equities research analysts anticipate that AMETEK, Inc. will post 6.8 EPS for the current fiscal year.

AMETEK Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 20th. Investors 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 dividend yield of 0.57%. The ex-dividend date is Friday, December 6th. AMETEK’s payout ratio is currently 19.51%.

Insider Activity at AMETEK

In other AMETEK news, insider Tony J. Ciampitti sold 16,210 shares of the firm’s stock in a transaction dated Friday, November 22nd. The stock was sold at an average price of $197.01, for a total value of $3,193,532.10. Following the sale, the insider now directly owns 49,490 shares of the company’s stock, valued at approximately $9,750,024.90. This trade represents a 24.67 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible 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 stock was sold at an average price of $190.99, for a total value of $1,192,350.57. Following the completion of the sale, the insider now directly owns 36,731 shares in the company, valued at approximately $7,015,253.69. The trade was a 14.53 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 23,913 shares of company stock valued at $4,636,404 over the last quarter. Insiders own 0.61% of the company’s stock.

Analyst Ratings Changes

AME has been the subject of several research analyst reports. StockNews.com cut AMETEK from a “buy” rating to a “hold” rating in a research report on Friday, November 15th. Robert W. Baird upped their target price on AMETEK from $166.00 to $186.00 and gave the company a “neutral” rating in a report on Monday, November 4th. KeyCorp upped their target price on AMETEK from $205.00 to $215.00 and gave the company an “overweight” rating in a report on Friday, November 22nd. Royal Bank of Canada lowered their target price on AMETEK from $216.00 to $215.00 and set an “outperform” rating on the stock in a report on Friday, August 2nd. Finally, Truist Financial upped their target price on AMETEK from $219.00 to $221.00 and gave the company a “buy” rating in a report on Friday, November 1st. One research analyst has rated the stock with a sell rating, three have assigned a hold rating, five have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average 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.