Ballentine Partners LLC Decreases Stock Position in AMETEK, Inc. (NYSE:AME)

Ballentine Partners LLC cut its position in AMETEK, Inc. (NYSE:AME) by 3.1% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 3,753 shares of the technology company’s stock after selling 122 shares during the quarter. Ballentine Partners LLC’s holdings in AMETEK were worth $644,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also made changes to their positions in the company. Washington Trust Advisors Inc. acquired a new stake in AMETEK in the first quarter valued at $37,000. Family Firm Inc. acquired a new stake in AMETEK in the second quarter valued at $39,000. Headlands Technologies LLC acquired a new stake in AMETEK in the first quarter valued at $43,000. Industrial Alliance Investment Management Inc. acquired a new stake in AMETEK in the second quarter valued at $42,000. Finally, Crewe Advisors LLC raised its holdings in 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 in the last quarter. 87.43% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several analysts recently issued reports on the stock. Truist Financial upped 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. TD Cowen cut shares of AMETEK from a “hold” rating to a “sell” rating in a report on Monday, October 7th. StockNews.com cut shares of AMETEK from a “buy” rating to a “hold” rating in a report on Tuesday, August 6th. Royal Bank of Canada dropped their target price on shares of AMETEK from $216.00 to $215.00 and set an “outperform” rating on the stock in a report on Friday, August 2nd. Finally, Mizuho increased their target price on shares of AMETEK from $180.00 to $190.00 and gave the stock an “outperform” rating in a report on Thursday, October 17th. 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 company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $193.29.

AMETEK Stock Up 0.2 %

AMETEK stock opened at $166.96 on Friday. The company has a 50-day simple moving average of $168.41 and a 200-day simple moving average of $169.23. The firm has a market capitalization 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. The company has a debt-to-equity ratio of 0.20, a quick ratio of 0.76 and a current ratio of 1.26. AMETEK, Inc. has a one year low of $136.89 and a one year high of $186.32.

AMETEK (NYSE:AME) last released its quarterly earnings results on Thursday, August 1st. The technology company reported $1.66 EPS for the quarter, topping the consensus estimate of $1.64 by $0.02. The business had revenue of $1.73 billion during the quarter, compared to analyst estimates of $1.78 billion. AMETEK had a net margin of 19.51% and a return on equity of 17.41%. The company’s quarterly revenue was up 5.4% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.57 earnings per share. As a group, equities analysts expect that AMETEK, Inc. will post 6.76 earnings per share for the current year.

AMETEK Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, September 30th. Stockholders of record on Monday, September 16th were given a dividend of $0.28 per share. The ex-dividend date of this dividend was Monday, September 16th. This represents a $1.12 annualized dividend and a dividend yield of 0.67%. AMETEK’s dividend payout ratio is currently 19.68%.

Insider Transactions at AMETEK

In related news, Director Steven W. Kohlhagen sold 1,460 shares of the 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 owns 23,349 shares in the company, valued at $4,006,454.91. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Insiders own 0.61% of the company’s stock.

About AMETEK

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.