Ascent Group LLC Reduces Stock Holdings in AMETEK, Inc. (NYSE:AME)

Ascent Group LLC reduced its stake in shares of AMETEK, Inc. (NYSE:AME) by 14.8% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 30,492 shares of the technology company’s stock after selling 5,283 shares during the quarter. Ascent Group LLC’s holdings in AMETEK were worth $5,236,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. EverSource Wealth Advisors LLC boosted its stake in AMETEK by 7.3% during the first quarter. EverSource Wealth Advisors LLC now owns 899 shares of the technology company’s stock worth $157,000 after acquiring an additional 61 shares in the last quarter. MorganRosel Wealth Management LLC increased its holdings in shares of AMETEK by 1.6% in the 2nd quarter. MorganRosel Wealth Management LLC now owns 3,886 shares of the technology company’s stock worth $648,000 after purchasing an additional 61 shares in the last quarter. Commerzbank Aktiengesellschaft FI raised its position in AMETEK by 4.8% in the 2nd quarter. Commerzbank Aktiengesellschaft FI now owns 1,340 shares of the technology company’s stock worth $224,000 after buying an additional 61 shares during the last quarter. First Horizon Advisors Inc. grew its stake in shares of AMETEK by 2.4% in the second quarter. First Horizon Advisors Inc. now owns 2,639 shares of the technology company’s stock worth $440,000 after acquiring an additional 62 shares during the period. Finally, Checchi Capital Advisers LLC grew its position in AMETEK by 2.9% in the 2nd quarter. Checchi Capital Advisers LLC now owns 2,225 shares of the technology company’s stock worth $371,000 after purchasing an additional 63 shares during the period. 87.43% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on the company. Robert W. Baird upped their price objective on AMETEK from $166.00 to $186.00 and gave the stock a “neutral” rating in a research note on Monday, November 4th. StockNews.com downgraded AMETEK from a “buy” rating to a “hold” rating in a research note on Friday, November 15th. TD Cowen cut shares of AMETEK from a “hold” rating to a “sell” rating in a research note on Monday, October 7th. Truist Financial upped their price target on shares of AMETEK from $219.00 to $221.00 and gave the stock a “buy” rating in a research report on Friday, November 1st. Finally, Mizuho raised their price objective on shares of AMETEK from $190.00 to $200.00 and gave the company an “outperform” rating in a research report on Friday, November 1st. One research analyst has rated the stock with a sell rating, three have given a hold rating, five have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, AMETEK presently has a consensus rating of “Moderate Buy” and a consensus price target of $199.29.

Insiders Place Their Bets

In related news, Director Steven W. Kohlhagen sold 1,460 shares of the firm’s stock in a transaction dated Wednesday, September 25th. The shares were sold at an average price of $171.59, for a total value of $250,521.40. Following the transaction, the director now owns 23,349 shares of the company’s stock, valued at $4,006,454.91. This trade represents a 5.88 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider David F. Hermance sold 6,243 shares of the business’s stock in a transaction dated Friday, November 8th. The shares were sold at an average price of $190.99, for a total transaction of $1,192,350.57. Following the completion of the sale, the insider now directly owns 36,731 shares of the company’s stock, valued at approximately $7,015,253.69. This trade represents a 14.53 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 30,660 shares of company stock valued at $5,958,141 over the last three months. 0.61% of the stock is owned by company insiders.

AMETEK Stock Performance

AME opened at $194.38 on Monday. The company has a debt-to-equity ratio of 0.18, a quick ratio of 0.84 and a current ratio of 1.39. The stock has a market capitalization of $44.96 billion, a price-to-earnings ratio of 33.86, a PEG ratio of 3.17 and a beta of 1.16. The company has a fifty day moving average of $179.05 and a 200 day moving average of $171.63. AMETEK, Inc. has a fifty-two week low of $149.03 and a fifty-two week high of $198.33.

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. AMETEK had a return on equity of 16.88% and a net margin of 19.27%. The business had revenue of $1.71 billion for the quarter, compared to analysts’ expectations of $1.71 billion. During the same period in the prior year, the firm earned $1.64 EPS. The company’s revenue for the quarter was up 5.3% on a year-over-year basis. As a group, sell-side analysts forecast that AMETEK, Inc. will post 6.8 earnings per share for the current fiscal year.

AMETEK Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, December 20th. Stockholders of record on Friday, December 6th will be issued a $0.28 dividend. This represents a $1.12 dividend on an annualized basis and a dividend yield of 0.58%. The ex-dividend date is Friday, December 6th. AMETEK’s dividend payout ratio (DPR) is 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.