Jennison Associates LLC Buys 2,524 Shares of AMETEK, Inc. (NYSE:AME)

Jennison Associates LLC lifted its stake in AMETEK, Inc. (NYSE:AME) by 0.7% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 361,647 shares of the technology company’s stock after buying an additional 2,524 shares during the period. Jennison Associates LLC owned approximately 0.16% of AMETEK worth $62,098,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of AME. Family Firm Inc. bought a new stake in AMETEK in the second quarter valued at approximately $39,000. Industrial Alliance Investment Management Inc. purchased a new stake in AMETEK during the 2nd quarter valued at $42,000. Princeton Global Asset Management LLC bought a new stake in AMETEK in the 3rd quarter worth $44,000. Crewe Advisors LLC increased its position in shares of AMETEK by 168.8% in the second quarter. Crewe Advisors LLC now owns 293 shares of the technology company’s stock valued at $49,000 after acquiring an additional 184 shares during the period. Finally, First Command Advisory Services Inc. bought a new position in shares of AMETEK during the second quarter valued at about $50,000. 87.43% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

AME has been the topic of a number of research analyst reports. StockNews.com downgraded AMETEK from a “buy” rating to a “hold” rating in a report on Friday, November 15th. Royal Bank of Canada decreased their target price on AMETEK from $216.00 to $215.00 and set an “outperform” rating for the company in a report on Friday, August 2nd. Truist Financial lifted their price target on shares of AMETEK from $219.00 to $221.00 and gave the company a “buy” rating in a report on Friday, November 1st. Robert W. Baird upped their price objective on shares of AMETEK from $166.00 to $186.00 and gave the stock a “neutral” rating in a report on Monday, November 4th. Finally, Mizuho lifted their target price on shares of AMETEK from $190.00 to $200.00 and gave the company an “outperform” rating in a research note on Friday, November 1st. One equities research analyst has rated the stock with a sell rating, three have given a hold rating, five have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, AMETEK presently has a consensus rating of “Moderate Buy” and a consensus target price of $197.86.

Insider Activity at AMETEK

In other AMETEK news, Director Steven W. Kohlhagen sold 1,460 shares of the stock in a transaction on Wednesday, September 25th. The stock was 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 approximately $4,006,454.91. This trade represents a 5.88 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider David F. Hermance sold 6,243 shares of the business’s stock in a transaction on Friday, November 8th. The stock was sold at an average price of $190.99, for a total value of $1,192,350.57. Following the completion of the transaction, the insider now owns 36,731 shares of the company’s stock, valued at $7,015,253.69. This represents a 14.53 % decrease in their position. The disclosure for this sale can be found here. 0.61% of the stock is currently owned by insiders.

AMETEK Trading Down 0.1 %

Shares of NYSE AME opened at $193.33 on Thursday. AMETEK, Inc. has a 1 year low of $149.03 and a 1 year high of $196.70. The company has a debt-to-equity ratio of 0.18, a current ratio of 1.39 and a quick ratio of 0.84. The firm has a 50-day moving average of $175.30 and a 200 day moving average of $170.32. The stock has a market cap of $44.72 billion, a P/E ratio of 33.68, a price-to-earnings-growth ratio of 3.15 and a beta of 1.16.

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

AMETEK Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, December 20th. Stockholders of record on Friday, December 6th will be given a $0.28 dividend. This represents a $1.12 annualized dividend and a dividend yield of 0.58%. The ex-dividend date of this dividend is Friday, December 6th. AMETEK’s dividend payout ratio is presently 19.51%.

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.