Greenleaf Trust Trims Stock Holdings in AMETEK, Inc. (NYSE:AME)

Greenleaf Trust lessened its stake in shares of AMETEK, Inc. (NYSE:AME) by 1.5% in the third quarter, HoldingsChannel reports. The firm owned 3,951 shares of the technology company’s stock after selling 62 shares during the quarter. Greenleaf Trust’s holdings in AMETEK were worth $678,000 at the end of the most recent reporting period.

Several other institutional investors have also recently added to or reduced their stakes in the company. Commerzbank Aktiengesellschaft FI raised its position in shares of AMETEK by 27.7% in the third quarter. Commerzbank Aktiengesellschaft FI now owns 1,711 shares of the technology company’s stock valued at $294,000 after buying an additional 371 shares during the last quarter. Bank Pictet & Cie Europe AG raised its holdings in AMETEK by 1.4% in the 3rd quarter. Bank Pictet & Cie Europe AG now owns 148,158 shares of the technology company’s stock valued at $25,440,000 after acquiring an additional 2,001 shares during the last quarter. Lecap Asset Management Ltd. acquired a new stake in shares of AMETEK during the third quarter worth $4,180,000. Eastern Bank purchased a new stake in shares of AMETEK in the third quarter valued at $101,000. Finally, Whittier Trust Co. of Nevada Inc. increased its stake in AMETEK by 8.8% in the third quarter. Whittier Trust Co. of Nevada Inc. now owns 3,784 shares of the technology company’s stock valued at $650,000 after purchasing an additional 307 shares during the last quarter. Institutional investors and hedge funds own 87.43% of the company’s stock.

Insider Activity at AMETEK

In other AMETEK news, Director Steven W. Kohlhagen sold 1,460 shares of the company’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 completion of the transaction, the director now directly owns 23,349 shares of the company’s stock, valued at $4,006,454.91. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Company insiders own 0.61% of the company’s stock.

AMETEK Stock Up 0.2 %

Shares of NYSE AME opened at $166.96 on Friday. The stock has a fifty day moving average price of $168.32 and a 200 day moving average price of $169.33. The company has a market cap of $38.65 billion, a P/E ratio of 29.34, a P/E/G ratio of 2.77 and a beta of 1.17. AMETEK, Inc. has a 12-month low of $136.89 and a 12-month high of $186.32. The company has a current ratio of 1.26, a quick ratio of 0.76 and a debt-to-equity ratio of 0.20.

AMETEK (NYSE:AME) last announced its earnings results on Thursday, August 1st. The technology company reported $1.66 EPS for the quarter, beating the consensus estimate of $1.64 by $0.02. The business had revenue of $1.73 billion for the quarter, compared to the consensus estimate of $1.78 billion. AMETEK had a return on equity of 17.41% and a net margin of 19.51%. The company’s revenue was up 5.4% on a year-over-year basis. During the same period last year, the business posted $1.57 EPS. Research analysts anticipate that AMETEK, Inc. will post 6.76 EPS for the current fiscal year.

AMETEK Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, September 30th. Stockholders of record on Monday, September 16th were paid a $0.28 dividend. The ex-dividend date was Monday, September 16th. This represents a $1.12 annualized dividend and a dividend yield of 0.67%. AMETEK’s dividend payout ratio (DPR) is presently 19.68%.

Wall Street Analyst Weigh In

A number of analysts have issued reports on AME shares. StockNews.com lowered AMETEK from a “buy” rating to a “hold” rating in a research note on Tuesday, August 6th. Redburn Atlantic raised shares of AMETEK to a “strong-buy” rating in a research report on Friday, August 2nd. Wolfe Research raised shares of AMETEK to a “hold” rating in a research report on Wednesday, September 18th. Truist Financial lifted their price target on shares of AMETEK from $201.00 to $219.00 and gave the company a “buy” rating in a report on Wednesday, October 9th. Finally, Robert W. Baird dropped their price objective on AMETEK from $171.00 to $166.00 and set a “neutral” rating for the company in a report on Wednesday, August 7th. One analyst has rated the stock with a sell rating, three have assigned a hold rating, five have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $193.29.

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.