First Hawaiian Bank Sells 4,197 Shares of AMETEK, Inc. (NYSE:AME)

First Hawaiian Bank lessened its holdings in shares of AMETEK, Inc. (NYSE:AME) by 27.3% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 11,183 shares of the technology company’s stock after selling 4,197 shares during the quarter. First Hawaiian Bank’s holdings in AMETEK were worth $1,864,000 at the end of the most recent quarter.

Other large investors have also recently modified their holdings of the company. Norges Bank bought a new stake in AMETEK in the fourth quarter valued at approximately $589,098,000. JPMorgan Chase & Co. lifted its position in AMETEK by 48.4% in the first quarter. JPMorgan Chase & Co. now owns 7,075,565 shares of the technology company’s stock valued at $1,294,121,000 after purchasing an additional 2,306,535 shares during the last quarter. Bank Julius Baer & Co. Ltd Zurich lifted its position in AMETEK by 4,845.8% in the fourth 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 last quarter. Maren Capital LLC bought a new stake in AMETEK in the fourth quarter valued at approximately $64,284,000. Finally, Dimensional Fund Advisors LP lifted its position in AMETEK by 17.6% in the fourth quarter. Dimensional Fund Advisors LP now owns 1,701,558 shares of the technology company’s stock valued at $280,573,000 after purchasing an additional 255,193 shares during the last quarter. Institutional investors own 87.43% of the company’s stock.

AMETEK Stock Performance

NYSE:AME traded up $1.96 on Monday, hitting $154.70. The stock had a trading volume of 3,114,069 shares, compared to its average volume of 1,107,771. The business’s 50-day simple moving average is $168.88 and its two-hundred day simple moving average is $172.65. The stock has a market cap of $35.81 billion, a price-to-earnings ratio of 27.18, a price-to-earnings-growth ratio of 2.57 and a beta of 1.18. AMETEK, Inc. has a 52-week low of $136.89 and a 52-week high of $186.32. The company has a quick ratio of 0.66, a current ratio of 1.26 and a debt-to-equity ratio of 0.20.

AMETEK (NYSE:AME) last announced its earnings results on Thursday, August 1st. The technology company reported $1.66 EPS for the quarter, beating analysts’ consensus estimates of $1.64 by $0.02. AMETEK had a net margin of 19.51% and a return on equity of 17.41%. The business had revenue of $1.73 billion during the quarter, compared to analysts’ expectations of $1.78 billion. During the same period in the prior year, the company earned $1.57 earnings per share. The firm’s revenue was up 5.4% on a year-over-year basis. As a group, research analysts predict that AMETEK, Inc. will post 6.78 earnings per share for the current year.

AMETEK Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, June 28th. Investors of record on Friday, June 14th were paid a dividend of $0.28 per share. The ex-dividend date of this dividend was Friday, June 14th. This represents a $1.12 dividend on an annualized basis and a dividend yield of 0.72%. AMETEK’s dividend payout ratio (DPR) is presently 19.68%.

Insider Buying and Selling

In related news, Director Steven W. Kohlhagen sold 1,440 shares of AMETEK stock in a transaction on Wednesday, June 12th. The shares were sold at an average price of $173.93, for a total transaction of $250,459.20. Following the transaction, the director now owns 24,809 shares in the company, valued at approximately $4,315,029.37. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. In other AMETEK news, Director Steven W. Kohlhagen sold 1,440 shares of the stock in a transaction on Wednesday, June 12th. The stock was 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 in the company, valued at approximately $4,315,029.37. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Steven W. Kohlhagen sold 1,470 shares of the stock in a transaction dated Wednesday, May 15th. The shares were sold at an average price of $170.20, for a total transaction 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 disclosure for this sale can be found here. 0.61% of the stock is currently owned by insiders.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on the company. 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. Robert W. Baird reduced their price target 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 raised AMETEK from a “hold” rating to a “buy” rating in a research note on Monday, July 29th. Royal Bank of Canada reduced their price target on AMETEK from $216.00 to $215.00 and set an “outperform” rating on the stock in a research note on Friday. Finally, Truist Financial dropped their target price on AMETEK from $204.00 to $201.00 and set a “buy” rating on the stock in a report on Friday. Three analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $187.00.

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.