Private Trust Co. NA Grows Stock Position in AMETEK, Inc. (NYSE:AME)

Private Trust Co. NA lifted its stake in AMETEK, Inc. (NYSE:AME) by 23.6% during the third quarter, Holdings Channel reports. The institutional investor owned 1,668 shares of the technology company’s stock after acquiring an additional 318 shares during the quarter. Private Trust Co. NA’s holdings in AMETEK were worth $286,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also recently bought and sold shares of AME. B. Riley Wealth Advisors Inc. boosted its position in AMETEK by 42.6% in the 1st quarter. B. Riley Wealth Advisors Inc. now owns 1,919 shares of the technology company’s stock worth $351,000 after purchasing an additional 573 shares in the last quarter. Tidal Investments LLC boosted its holdings in AMETEK by 15.1% during the first quarter. Tidal Investments LLC now owns 4,930 shares of the technology company’s stock worth $902,000 after buying an additional 646 shares in the last quarter. Comerica Bank increased its holdings in AMETEK by 0.4% in the first quarter. Comerica Bank now owns 74,825 shares of the technology company’s stock valued at $13,685,000 after buying an additional 314 shares in the last quarter. Citizens Financial Group Inc. RI acquired a new position in shares of AMETEK in the first quarter worth about $542,000. Finally, Swedbank AB acquired a new position in shares of AMETEK in the first quarter worth about $3,833,000. 87.43% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on the company. Redburn Atlantic upgraded AMETEK to a “strong-buy” rating in a research note on Friday, August 2nd. Mizuho upped their target price on AMETEK from $190.00 to $200.00 and gave the stock an “outperform” rating in a research note on Friday, November 1st. StockNews.com cut shares of 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 report on Monday, October 7th. Finally, Robert W. Baird lifted their target price on shares of AMETEK from $166.00 to $186.00 and gave the company a “neutral” rating in a research report on Monday, November 4th. One 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. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $199.29.

AMETEK Price Performance

AMETEK stock opened at $195.10 on Friday. The company has a fifty day simple moving average of $178.58 and a 200-day simple moving average of $171.43. The firm has a market capitalization of $45.13 billion, a price-to-earnings ratio of 33.99, a PEG ratio of 3.22 and a beta of 1.16. The company has a quick ratio of 0.84, a current ratio of 1.39 and a debt-to-equity ratio of 0.18. AMETEK, Inc. has a 52-week low of $149.03 and a 52-week high of $198.33.

AMETEK (NYSE:AME) last announced its quarterly earnings data on Thursday, October 31st. The technology company reported $1.66 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.62 by $0.04. AMETEK had a net margin of 19.27% and a return on equity of 16.88%. The company 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 company earned $1.64 EPS. AMETEK’s revenue was up 5.3% compared to the same quarter last year. On average, equities analysts anticipate that AMETEK, Inc. will post 6.8 EPS for the current fiscal year.

AMETEK Dividend Announcement

The business also recently disclosed 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. The ex-dividend date is Friday, December 6th. This represents a $1.12 dividend on an annualized basis and a yield of 0.57%. AMETEK’s payout ratio is 19.51%.

Insiders Place Their Bets

In related news, insider Tony J. Ciampitti sold 16,210 shares of the firm’s stock in a transaction dated Friday, November 22nd. The shares were sold at an average price of $197.01, for a total transaction of $3,193,532.10. Following the completion of the sale, the insider now directly owns 49,490 shares in the company, valued at approximately $9,750,024.90. This trade represents a 24.67 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider David F. Hermance sold 6,243 shares of AMETEK stock in a transaction dated Friday, November 8th. The stock was sold at an average price of $190.99, for a total transaction of $1,192,350.57. Following the transaction, the insider now directly owns 36,731 shares in the company, valued at $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. Over the last 90 days, insiders have sold 30,660 shares of company stock valued at $5,958,141. Insiders own 0.61% of the company’s stock.

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.