Atlantic Union Bankshares Corp Sells 2,191 Shares of AMETEK, Inc. (NYSE:AME)

Atlantic Union Bankshares Corp trimmed its stake in AMETEK, Inc. (NYSE:AME) by 7.3% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 27,972 shares of the technology company’s stock after selling 2,191 shares during the quarter. Atlantic Union Bankshares Corp’s holdings in AMETEK were worth $4,803,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Family Firm Inc. bought a new position in shares of AMETEK during the second quarter valued at $39,000. Industrial Alliance Investment Management Inc. bought a new position in shares of AMETEK during the second quarter valued at $42,000. Princeton Global Asset Management LLC bought a new position in shares of AMETEK during the third quarter valued at $44,000. Crewe Advisors LLC increased its position in AMETEK by 168.8% during 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 last quarter. Finally, First Command Advisory Services Inc. purchased a new stake in AMETEK during the second quarter valued at $50,000. 87.43% of the stock is owned by institutional investors.

Insider Buying and Selling

In related news, insider Emanuela Speranza sold 6,747 shares of the stock in a transaction dated Tuesday, November 26th. The stock was sold at an average price of $195.90, for a total transaction of $1,321,737.30. Following the completion of the sale, the insider now owns 30,460 shares in the company, valued at approximately $5,967,114. This trade represents a 18.13 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider David F. Hermance sold 6,243 shares of the stock in a transaction dated 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 sale, 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. Over the last 90 days, insiders sold 30,660 shares of company stock worth $5,958,141. 0.61% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

A number of analysts recently commented on the company. KeyCorp upped their price objective on AMETEK from $205.00 to $215.00 and gave the company an “overweight” rating in a research report on Friday, November 22nd. Mizuho upped their price objective on AMETEK from $190.00 to $200.00 and gave the company an “outperform” rating in a research report on Friday, November 1st. Truist Financial upped their price objective on AMETEK from $219.00 to $221.00 and gave the company a “buy” rating in a research report on Friday, November 1st. 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 research report on Friday, August 2nd. Finally, Robert W. Baird upped their price objective on AMETEK from $166.00 to $186.00 and gave the company a “neutral” rating in a research report on Monday, November 4th. One analyst has rated the stock with a sell rating, three have issued a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $199.29.

AMETEK Stock Performance

Shares of AME opened at $195.10 on Friday. The company has a quick ratio of 0.84, a current ratio of 1.39 and a debt-to-equity ratio of 0.18. The business has a 50-day simple moving average of $178.58 and a two-hundred day simple moving average of $171.43. The stock has a market cap of $45.13 billion, a price-to-earnings ratio of 33.99, a PEG ratio of 3.18 and a beta of 1.16. AMETEK, Inc. has a 52 week low of $149.03 and a 52 week high of $198.33.

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 business had revenue of $1.71 billion during the quarter, compared to analysts’ expectations of $1.71 billion. During the same quarter in the prior year, the business posted $1.64 earnings per share. The business’s quarterly revenue was up 5.3% on a year-over-year basis. On average, analysts expect that AMETEK, Inc. will post 6.8 EPS for the current year.

AMETEK Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, December 20th. Investors of record on Friday, December 6th will be given a dividend of $0.28 per share. This represents a $1.12 annualized dividend and a dividend yield of 0.57%. The ex-dividend date is Friday, December 6th. AMETEK’s dividend payout ratio is currently 19.51%.

AMETEK Company 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.