AMETEK, Inc. (NYSE:AME) Shares Sold by PGGM Investments

PGGM Investments trimmed its holdings in shares of AMETEK, Inc. (NYSE:AME) by 1.5% during the fourth quarter, Holdings Channel.com reports. The firm owned 79,567 shares of the technology company’s stock after selling 1,192 shares during the quarter. PGGM Investments’ holdings in AMETEK were worth $13,120,000 as of its most recent filing with the SEC.

Other large investors also recently modified their holdings of the company. Morgan Stanley boosted its position in shares of AMETEK by 19.2% in the 3rd quarter. Morgan Stanley now owns 4,189,108 shares of the technology company’s stock valued at $618,983,000 after purchasing an additional 674,549 shares during the period. Bank Julius Baer & Co. Ltd Zurich boosted its position in shares of AMETEK by 4,845.8% in the 4th quarter. Bank Julius Baer & Co. Ltd Zurich now owns 677,075 shares of the technology company’s stock valued at $111,643,000 after purchasing an additional 663,385 shares during the period. Qube Research & Technologies Ltd acquired a new position in shares of AMETEK in the 3rd quarter valued at $90,248,000. Adage Capital Partners GP L.L.C. boosted its position in shares of AMETEK by 84.9% in the 3rd quarter. Adage Capital Partners GP L.L.C. now owns 1,081,557 shares of the technology company’s stock valued at $159,811,000 after purchasing an additional 496,523 shares during the period. Finally, The Manufacturers Life Insurance Company boosted its position in shares of AMETEK by 52.9% in the 3rd quarter. The Manufacturers Life Insurance Company now owns 1,032,796 shares of the technology company’s stock valued at $152,606,000 after purchasing an additional 357,212 shares during the period. 87.43% of the stock is owned by institutional investors and hedge funds.

AMETEK Stock Down 0.2 %

Shares of AME traded down $0.42 during midday trading on Friday, reaching $177.51. 637,924 shares of the stock were exchanged, compared to its average volume of 788,079. AMETEK, Inc. has a 12-month low of $133.77 and a 12-month high of $186.32. The firm has a 50 day simple moving average of $180.12 and a 200-day simple moving average of $165.44. The company has a quick ratio of 0.59, a current ratio of 0.98 and a debt-to-equity ratio of 0.22. The company has a market cap of $41.04 billion, a price-to-earnings ratio of 31.31, a P/E/G ratio of 2.84 and a beta of 1.22.

AMETEK (NYSE:AME) last posted its quarterly earnings results on Tuesday, February 6th. The technology company reported $1.68 earnings per share for the quarter, topping analysts’ consensus estimates of $1.62 by $0.06. AMETEK had a return on equity of 17.96% and a net margin of 19.91%. The company had revenue of $1.73 billion during the quarter, compared to the consensus estimate of $1.73 billion. During the same period last year, the business earned $1.52 EPS. The business’s quarterly revenue was up 6.1% on a year-over-year basis. Research analysts forecast that AMETEK, Inc. will post 6.82 EPS for the current year.

AMETEK Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, March 28th. Investors of record on Friday, March 8th were paid a $0.28 dividend. This represents a $1.12 dividend on an annualized basis and a dividend yield of 0.63%. This is an increase from AMETEK’s previous quarterly dividend of $0.25. The ex-dividend date of this dividend was Thursday, March 7th. AMETEK’s dividend payout ratio (DPR) is presently 19.75%.

Wall Street Analyst Weigh In

AME has been the subject of a number of recent analyst reports. Royal Bank of Canada decreased their price target on AMETEK from $192.00 to $188.00 and set an “outperform” rating for the company in a research report on Wednesday, February 7th. StockNews.com lowered AMETEK from a “buy” rating to a “hold” rating in a research report on Saturday, March 2nd. Truist Financial assumed coverage on AMETEK in a research report on Thursday, March 14th. They set a “buy” rating and a $210.00 price objective for the company. Finally, KeyCorp raised their price objective on AMETEK from $182.00 to $205.00 and gave the stock an “overweight” rating in a research report on Tuesday, February 27th. Three equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $180.78.

Insider Activity at AMETEK

In related news, CFO William Joseph Burke sold 5,973 shares of the firm’s stock in a transaction that occurred on Monday, February 12th. The stock was sold at an average price of $168.90, for a total value of $1,008,839.70. Following the transaction, the chief financial officer now directly owns 101,709 shares of the company’s stock, valued at approximately $17,178,650.10. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, CFO William Joseph Burke sold 5,973 shares of the firm’s stock in a transaction that occurred on Monday, February 12th. The stock was sold at an average price of $168.90, for a total value of $1,008,839.70. Following the transaction, the chief financial officer now directly owns 101,709 shares of the company’s stock, valued at approximately $17,178,650.10. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, VP Thomas M. Montgomery sold 6,891 shares of AMETEK stock in a transaction that occurred on Thursday, March 21st. The stock was sold at an average price of $185.38, for a total value of $1,277,453.58. Following the completion of the transaction, the vice president now directly owns 21,543 shares in the company, valued at $3,993,641.34. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 59,881 shares of company stock valued at $10,689,758. Corporate 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.