USA Financial Formulas Trims Stock Holdings in AMETEK, Inc. (NYSE:AME)

by · The Markets Daily

USA Financial Formulas lowered its position in shares of AMETEK, Inc. (NYSE:AME – Free Report) by 70.1% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 408 shares of the technology company’s stock after selling 956 shares during the quarter. USA Financial Formulas’ holdings in AMETEK were worth $70,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Palisade Capital Management LP grew its stake in shares of AMETEK by 0.4% in the fourth quarter. Palisade Capital Management LP now owns 155,438 shares of the technology company’s stock worth $25,630,000 after acquiring an additional 694 shares during the last quarter. Osterweis Capital Management Inc. grew its position in AMETEK by 0.6% during the 4th quarter. Osterweis Capital Management Inc. now owns 186,420 shares of the technology company’s stock valued at $30,739,000 after purchasing an additional 1,066 shares during the last quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main raised its holdings in AMETEK by 11.2% in the fourth quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 1,669,394 shares of the technology company’s stock worth $275,266,000 after buying an additional 167,602 shares during the last quarter. Cim LLC bought a new position in shares of AMETEK in the fourth quarter worth approximately $1,254,000. Finally, Teachers Retirement System of The State of Kentucky grew its holdings in shares of AMETEK by 9.0% during the fourth quarter. Teachers Retirement System of The State of Kentucky now owns 187,284 shares of the technology company’s stock valued at $30,881,000 after buying an additional 15,518 shares during the last quarter. 87.43% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at AMETEK

In other news, Director Steven W. Kohlhagen sold 1,460 shares of the firm’s stock in a transaction on Wednesday, September 25th. The shares were sold at an average price of $171.59, for a total transaction of $250,521.40. Following the sale, the director now directly owns 23,349 shares in the company, valued at $4,006,454.91. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 0.61% of the company’s stock.

AMETEK Stock Performance

AME opened at $168.91 on Friday. The company’s 50 day moving average is $166.03 and its 200 day moving average is $170.21. The company has a current ratio of 1.26, a quick ratio of 0.76 and a debt-to-equity ratio of 0.20. The company has a market cap of $39.10 billion, a price-to-earnings ratio of 29.69, a PEG ratio of 2.81 and a beta of 1.17. AMETEK, Inc. has a 12-month low of $136.89 and a 12-month high of $186.32.

AMETEK (NYSE:AME – Get Free Report) last posted its quarterly earnings data on Thursday, August 1st. The technology company reported $1.66 EPS for the quarter, topping the consensus estimate of $1.64 by $0.02. The firm had revenue of $1.73 billion during the quarter, compared to analyst estimates of $1.78 billion. AMETEK had a return on equity of 17.41% and a net margin of 19.51%. AMETEK’s revenue was up 5.4% on a year-over-year basis. During the same period in the prior year, the business posted $1.57 EPS. On average, equities research analysts predict that AMETEK, Inc. will post 6.77 EPS for the current year.

AMETEK Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, September 30th. Shareholders of record on Monday, September 16th were paid a dividend of $0.28 per share. This represents a $1.12 dividend on an annualized basis and a yield of 0.66%. The ex-dividend date was Monday, September 16th. AMETEK’s payout ratio is 19.68%.

Analyst Upgrades and Downgrades

Several analysts have commented on AME shares. Truist Financial increased their target price on AMETEK from $201.00 to $219.00 and gave the company a “buy” rating in a research note on Wednesday. Royal Bank of Canada reduced their price objective on AMETEK from $216.00 to $215.00 and set an “outperform” rating for the company in a report on Friday, August 2nd. Redburn Atlantic upgraded shares of AMETEK to a “strong-buy” rating in a research note on Friday, August 2nd. Wolfe Research upgraded shares of AMETEK to a “hold” rating in a research note on Wednesday, September 18th. Finally, TD Cowen cut shares of AMETEK from a “hold” rating to a “sell” rating in a report on Monday. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating, four have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, AMETEK presently has an average rating of “Moderate Buy” and an average target price of $193.83.

Check Out Our Latest Report on AME

AMETEK Company Profile

(Free Report)

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.

Read More