Amalgamated Bank Reduces Stock Holdings in AMETEK, Inc. (NYSE:AME)

Amalgamated Bank lowered its position in shares of AMETEK, Inc. (NYSE:AME) by 1.3% in the third quarter, according to the company in its most recent filing with the SEC. The firm owned 46,072 shares of the technology company’s stock after selling 630 shares during the quarter. Amalgamated Bank’s holdings in AMETEK were worth $7,911,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in AME. JPMorgan Chase & Co. lifted its position in AMETEK by 48.4% during the 1st quarter. JPMorgan Chase & Co. now owns 7,075,565 shares of the technology company’s stock worth $1,294,121,000 after acquiring an additional 2,306,535 shares during the period. Bank of New York Mellon Corp increased its stake in AMETEK by 34.6% during the 2nd quarter. Bank of New York Mellon Corp now owns 3,602,753 shares of the technology company’s stock worth $600,615,000 after buying an additional 926,657 shares in the last quarter. Meridiem Investment Management Ltd. purchased a new stake in AMETEK during the 3rd quarter worth approximately $130,579,000. Principal Financial Group Inc. increased its stake in AMETEK by 256.3% during the 2nd quarter. Principal Financial Group Inc. now owns 976,808 shares of the technology company’s stock worth $162,844,000 after buying an additional 702,674 shares in the last quarter. Finally, James Hambro & Partners LLP purchased a new stake in shares of AMETEK in the third quarter valued at approximately $60,188,000. Institutional investors and hedge funds own 87.43% of the company’s stock.

AMETEK Stock Performance

NYSE:AME opened at $190.41 on Thursday. The firm has a market capitalization of $44.04 billion, a PE ratio of 33.17, a price-to-earnings-growth ratio of 2.91 and a beta of 1.16. The business’s fifty day moving average price is $170.12 and its 200 day moving average price is $169.06. The company has a debt-to-equity ratio of 0.18, a current ratio of 1.39 and a quick ratio of 0.84. AMETEK, Inc. has a 12 month low of $141.65 and a 12 month high of $192.20.

AMETEK (NYSE:AME) last issued its quarterly earnings data on Thursday, October 31st. The technology company reported $1.66 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.62 by $0.04. The company had revenue of $1.71 billion for the quarter, compared to analyst estimates of $1.71 billion. AMETEK had a return on equity of 16.88% and a net margin of 19.27%. The business’s quarterly revenue was up 5.3% compared to the same quarter last year. During the same quarter last year, the company posted $1.64 earnings per share. On average, sell-side analysts anticipate that AMETEK, Inc. will post 6.81 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other AMETEK news, Director Steven W. Kohlhagen sold 1,460 shares of the firm’s stock in a transaction dated Wednesday, September 25th. The stock was sold at an average price of $171.59, for a total transaction of $250,521.40. Following the transaction, the director now owns 23,349 shares of the company’s stock, valued at approximately $4,006,454.91. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Corporate insiders own 0.61% of the company’s stock.

Wall Street Analyst Weigh In

AME has been the topic of a number of recent analyst reports. Royal Bank of Canada decreased their price objective on AMETEK from $216.00 to $215.00 and set an “outperform” rating on the stock in a report on Friday, August 2nd. Truist Financial increased their price objective on AMETEK from $219.00 to $221.00 and gave the company a “buy” rating in a research note on Friday, November 1st. StockNews.com upgraded AMETEK from a “hold” rating to a “buy” rating in a research note on Monday. Wolfe Research upgraded AMETEK to a “hold” rating in a research note on Wednesday, September 18th. Finally, Redburn Atlantic upgraded AMETEK to a “strong-buy” rating in a research note on Friday, August 2nd. One investment analyst has rated the stock with a sell rating, two have given a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, AMETEK presently has an average rating of “Moderate Buy” and an average price target of $197.86.

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.