Diversified Trust Co Cuts Position in AMETEK, Inc. (NYSE:AME)

Diversified Trust Co reduced its holdings in shares of AMETEK, Inc. (NYSE:AME) by 19.5% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 9,618 shares of the technology company’s stock after selling 2,324 shares during the quarter. Diversified Trust Co’s holdings in AMETEK were worth $1,734,000 at the end of the most recent quarter.

Several other large investors also recently made changes to their positions in the business. State Street Corp increased its holdings in AMETEK by 0.3% during the 3rd quarter. State Street Corp now owns 9,220,376 shares of the technology company’s stock worth $1,583,231,000 after purchasing an additional 24,072 shares during the last quarter. JPMorgan Chase & Co. increased its stake in shares of AMETEK by 3.7% in the third quarter. JPMorgan Chase & Co. now owns 6,985,350 shares of the technology company’s stock worth $1,199,454,000 after buying an additional 250,538 shares during the last quarter. Geode Capital Management LLC raised its holdings in AMETEK by 0.8% in the third quarter. Geode Capital Management LLC now owns 5,401,656 shares of the technology company’s stock valued at $924,308,000 after acquiring an additional 45,459 shares in the last quarter. EdgePoint Investment Group Inc. boosted its stake in AMETEK by 87.9% during the 3rd quarter. EdgePoint Investment Group Inc. now owns 1,964,236 shares of the technology company’s stock valued at $337,279,000 after acquiring an additional 918,737 shares during the last quarter. Finally, Dimensional Fund Advisors LP grew its holdings in AMETEK by 8.6% during the 2nd quarter. Dimensional Fund Advisors LP now owns 1,882,166 shares of the technology company’s stock worth $313,777,000 after acquiring an additional 148,447 shares in the last quarter. Institutional investors and hedge funds own 87.43% of the company’s stock.

Insider Buying and Selling

In related news, insider Tony J. Ciampitti sold 16,210 shares of the stock in a transaction on Friday, November 22nd. The stock was sold at an average price of $197.01, for a total value of $3,193,532.10. Following the completion of the transaction, the insider now owns 49,490 shares in the company, valued at $9,750,024.90. This trade represents a 24.67 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Emanuela Speranza sold 6,747 shares of the business’s stock in a transaction that occurred on 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 directly owns 30,460 shares of the company’s stock, valued at $5,967,114. This represents a 18.13 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 29,200 shares of company stock valued at $5,707,620 over the last 90 days. 0.61% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on AME. KeyCorp increased their price target on shares of AMETEK from $205.00 to $215.00 and gave the stock an “overweight” rating in a research report on Friday, November 22nd. Truist Financial increased their target price on AMETEK from $219.00 to $221.00 and gave the stock a “buy” rating in a report on Friday, November 1st. StockNews.com upgraded AMETEK from a “hold” rating to a “buy” rating in a research report on Thursday. Wolfe Research raised AMETEK to a “hold” rating in a research report on Wednesday, September 18th. Finally, Mizuho lifted their price objective on shares of AMETEK from $190.00 to $200.00 and gave the stock an “outperform” rating in a report on Friday, November 1st. One research analyst has rated the stock with a sell rating, two have issued a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, AMETEK presently has an average rating of “Moderate Buy” and a consensus target price of $202.50.

AMETEK Price Performance

NYSE AME opened at $178.27 on Thursday. The company has a 50-day moving average price of $188.02 and a two-hundred day moving average price of $174.63. AMETEK, Inc. has a 52 week low of $149.03 and a 52 week high of $198.33. The stock has a market cap of $41.24 billion, a price-to-earnings ratio of 31.06, a price-to-earnings-growth ratio of 3.08 and a beta of 1.16. The company has a current ratio of 1.39, a quick ratio of 0.84 and a debt-to-equity ratio of 0.18.

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 analysts’ consensus estimates of $1.62 by $0.04. The business had revenue of $1.71 billion during the quarter, compared to analyst estimates of $1.71 billion. AMETEK had a return on equity of 16.88% and a net margin of 19.27%. The business’s revenue for the quarter was up 5.3% compared to the same quarter last year. During the same period in the prior year, the company posted $1.64 EPS. Analysts forecast that AMETEK, Inc. will post 6.8 EPS for the current year.

AMETEK Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, December 20th. Investors of record on Friday, December 6th were paid a dividend of $0.28 per share. This represents a $1.12 dividend on an annualized basis and a dividend yield of 0.63%. The ex-dividend date of this dividend was Friday, December 6th. AMETEK’s dividend payout ratio is currently 19.51%.

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.