AMETEK, Inc. (NYSE:AME) Shares Sold by Park Place Capital Corp

Park Place Capital Corp decreased its holdings in shares of AMETEK, Inc. (NYSE:AME) by 40.6% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 466 shares of the technology company’s stock after selling 319 shares during the period. Park Place Capital Corp’s holdings in AMETEK were worth $85,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the business. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main grew its holdings in shares of AMETEK by 11.2% in the 4th 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 acquiring an additional 167,602 shares during the period. Pacer Advisors Inc. grew its holdings in shares of AMETEK by 161.0% in the 4th quarter. Pacer Advisors Inc. now owns 44,684 shares of the technology company’s stock worth $7,368,000 after acquiring an additional 27,562 shares during the period. Tyche Wealth Partners LLC acquired a new stake in shares of AMETEK in the 4th quarter worth approximately $6,275,000. Cim LLC acquired a new stake in shares of AMETEK in the 4th quarter worth approximately $1,254,000. Finally, Nomura Holdings Inc. acquired a new stake in shares of AMETEK in the 4th quarter worth approximately $768,000. Institutional investors and hedge funds own 87.43% of the company’s stock.

AMETEK Trading Down 0.6 %

Shares of AMETEK stock traded down $1.03 during trading hours on Monday, reaching $165.68. 953,258 shares of the company’s stock were exchanged, compared to its average volume of 1,058,687. AMETEK, Inc. has a 52-week low of $136.89 and a 52-week high of $186.32. The firm has a market capitalization of $38.35 billion, a price-to-earnings ratio of 29.10, a price-to-earnings-growth ratio of 2.67 and a beta of 1.18. The company has a fifty day moving average of $170.61 and a 200-day moving average of $171.74. The company has a current ratio of 1.11, a quick ratio of 0.66 and a debt-to-equity ratio of 0.21.

AMETEK (NYSE:AME) last issued its earnings results on Thursday, May 2nd. The technology company reported $1.64 earnings per share for the quarter, topping the consensus estimate of $1.59 by $0.05. The business had revenue of $1.74 billion for the quarter, compared to analyst estimates of $1.78 billion. AMETEK had a return on equity of 17.74% and a net margin of 19.57%. The business’s quarterly revenue was up 9.0% on a year-over-year basis. During the same period last year, the company posted $1.49 EPS. Sell-side analysts forecast that AMETEK, Inc. will post 6.83 EPS for the current fiscal year.

AMETEK Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, June 28th. Investors of record on Friday, June 14th were given a $0.28 dividend. This represents a $1.12 annualized dividend and a dividend yield of 0.68%. The ex-dividend date of this dividend was Friday, June 14th. AMETEK’s dividend payout ratio (DPR) is currently 19.68%.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports on AME shares. Robert W. Baird reduced their target price on AMETEK from $173.00 to $171.00 and set a “neutral” rating on the stock in a research note on Monday, May 6th. StockNews.com lowered AMETEK from a “buy” rating to a “hold” rating in a research note on Tuesday, June 18th. Oppenheimer raised AMETEK from a “market perform” rating to an “outperform” rating and set a $200.00 target price on the stock in a research note on Wednesday, May 22nd. Finally, Truist Financial started coverage on AMETEK in a research note on Thursday, March 14th. They issued a “buy” rating and a $210.00 target price on the stock. Four analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $181.80.

Insider Buying and Selling

In related news, Director Steven W. Kohlhagen sold 1,470 shares of the stock in a transaction on Wednesday, May 15th. The stock was sold at an average price of $170.20, for a total value of $250,194.00. Following the transaction, the director now directly owns 26,249 shares of the company’s stock, valued at approximately $4,467,579.80. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In related news, Director Steven W. Kohlhagen sold 1,470 shares of the stock in a transaction on Wednesday, May 15th. The stock was sold at an average price of $170.20, for a total value of $250,194.00. Following the completion of the sale, the director now directly owns 26,249 shares in the company, valued at approximately $4,467,579.80. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director Steven W. Kohlhagen sold 1,440 shares of the stock in a transaction on Wednesday, June 12th. The shares were sold at an average price of $173.93, for a total value of $250,459.20. Following the completion of the sale, the director now owns 24,809 shares of the company’s stock, valued at $4,315,029.37. The disclosure for this sale can be found here. Corporate insiders own 0.61% of the company’s stock.

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.