Southpoint Capital Advisors LP Decreases Position in AMETEK, Inc. (NYSE:AME)

Southpoint Capital Advisors LP cut its stake in AMETEK, Inc. (NYSE:AME) by 22.2% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 700,000 shares of the technology company’s stock after selling 200,000 shares during the quarter. AMETEK accounts for about 2.8% of Southpoint Capital Advisors LP’s investment portfolio, making the stock its 16th largest holding. Southpoint Capital Advisors LP owned 0.30% of AMETEK worth $120,197,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also recently made changes to their positions in the company. Family Firm Inc. bought a new stake in shares of AMETEK in the second quarter worth approximately $39,000. Industrial Alliance Investment Management Inc. bought a new stake in AMETEK during the second quarter valued at approximately $42,000. Princeton Global Asset Management LLC bought a new stake in AMETEK during the third quarter valued at approximately $44,000. Crewe Advisors LLC grew its position in AMETEK by 168.8% during the second quarter. Crewe Advisors LLC now owns 293 shares of the technology company’s stock valued at $49,000 after buying an additional 184 shares during the period. Finally, First Command Advisory Services Inc. bought a new stake in AMETEK during the second quarter valued at approximately $50,000. 87.43% of the stock is currently owned by institutional investors.

AMETEK Trading Down 0.4 %

AME stock opened at $194.41 on Friday. The company has a quick ratio of 0.84, a current ratio of 1.39 and a debt-to-equity ratio of 0.18. AMETEK, Inc. has a twelve month low of $149.03 and a twelve month high of $198.33. The stock has a market capitalization of $44.97 billion, a price-to-earnings ratio of 33.87, a price-to-earnings-growth ratio of 3.18 and a beta of 1.16. The firm’s fifty day simple moving average is $179.05 and its two-hundred day simple moving average is $171.60.

AMETEK (NYSE:AME) last posted 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 for the quarter, compared to analysts’ expectations of $1.71 billion. During the same quarter in the previous year, the business posted $1.64 earnings per share. The business’s revenue was up 5.3% compared to the same quarter last year. As a group, analysts anticipate that AMETEK, Inc. will post 6.8 earnings per share for the current year.

AMETEK Dividend Announcement

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 issued a $0.28 dividend. This represents a $1.12 dividend on an annualized basis and a dividend yield of 0.58%. The ex-dividend date is Friday, December 6th. AMETEK’s payout ratio is presently 19.51%.

Insider Transactions at AMETEK

In other news, insider Emanuela Speranza sold 6,747 shares of the company’s stock in a transaction dated Tuesday, November 26th. The shares were sold at an average price of $195.90, for a total value of $1,321,737.30. Following the transaction, the insider now directly owns 30,460 shares in the company, valued at approximately $5,967,114. This represents a 18.13 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Tony J. Ciampitti sold 16,210 shares of the company’s stock in a transaction dated Friday, November 22nd. The stock was sold at an average price of $197.01, for a total transaction of $3,193,532.10. Following the completion of the transaction, the insider now owns 49,490 shares in the company, valued at approximately $9,750,024.90. The trade was a 24.67 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 30,660 shares of company stock worth $5,958,141. Insiders own 0.61% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on AME. Redburn Atlantic upgraded shares of AMETEK to a “strong-buy” rating in a research report on Friday, August 2nd. Mizuho upped their price target on shares of AMETEK from $190.00 to $200.00 and gave the stock an “outperform” rating in a research report on Friday, November 1st. Truist Financial boosted 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. StockNews.com downgraded shares of AMETEK from a “buy” rating to a “hold” rating in a report on Friday, November 15th. Finally, KeyCorp boosted their target price on shares of AMETEK from $205.00 to $215.00 and gave the stock an “overweight” rating in a report on Friday, November 22nd. One investment analyst has rated the stock with a sell rating, three have issued a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $199.29.

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.