1832 Asset Management L.P. Has $2.76 Million Stake in AMETEK, Inc. (NYSE:AME)

1832 Asset Management L.P. reduced its position in shares of AMETEK, Inc. (NYSE:AME) by 19.0% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 15,071 shares of the technology company’s stock after selling 3,534 shares during the period. 1832 Asset Management L.P.’s holdings in AMETEK were worth $2,756,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also added to or reduced their stakes in AME. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main boosted its position in shares of AMETEK by 11.2% in the fourth quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 1,669,394 shares of the technology company’s stock valued at $275,266,000 after acquiring an additional 167,602 shares during the period. Tyche Wealth Partners LLC bought a new stake in AMETEK in the 4th quarter valued at about $6,275,000. Cim LLC acquired a new position in shares of AMETEK during the 4th quarter worth approximately $1,254,000. Nomura Holdings Inc. bought a new position in shares of AMETEK during the fourth quarter worth approximately $768,000. Finally, Duality Advisers LP acquired a new stake in shares of AMETEK in the first quarter valued at approximately $1,676,000. 87.43% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

AME has been the topic of a number of recent research reports. Truist Financial lowered their price objective on AMETEK from $210.00 to $204.00 and set a “buy” rating on the stock in a research note on Tuesday, July 2nd. Oppenheimer upgraded AMETEK from a “market perform” rating to an “outperform” rating and set a $200.00 price target on the stock in a research report on Wednesday, May 22nd. StockNews.com downgraded AMETEK from a “buy” rating to a “hold” rating in a research note on Tuesday, June 18th. Finally, Robert W. Baird reduced their price objective on shares of AMETEK from $173.00 to $171.00 and set a “neutral” rating on the stock in a research note on Monday, May 6th. Four research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. According to MarketBeat.com, AMETEK currently has an average rating of “Moderate Buy” and a consensus price target of $181.20.

AMETEK Price Performance

Shares of AME stock traded up $3.75 on Friday, reaching $172.27. The company had a trading volume of 864,601 shares, compared to its average volume of 996,840. The business’s 50-day moving average is $169.46 and its 200 day moving average is $172.48. AMETEK, Inc. has a one year low of $136.89 and a one year high of $186.32. The company has a quick ratio of 0.66, a current ratio of 1.11 and a debt-to-equity ratio of 0.21. The stock has a market capitalization of $39.88 billion, a PE ratio of 30.28, a price-to-earnings-growth ratio of 2.71 and a beta of 1.18.

AMETEK (NYSE:AME) last released its quarterly earnings data on Thursday, May 2nd. The technology company reported $1.64 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.59 by $0.05. AMETEK had a net margin of 19.57% and a return on equity of 17.74%. The business had revenue of $1.74 billion during the quarter, compared to analysts’ expectations of $1.78 billion. During the same period in the prior year, the company earned $1.49 EPS. The firm’s quarterly revenue was up 9.0% compared to the same quarter last year. Equities research analysts forecast that AMETEK, Inc. will post 6.81 EPS for the current fiscal year.

AMETEK Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, June 28th. Investors of record on Friday, June 14th were given a dividend of $0.28 per share. The ex-dividend date was Friday, June 14th. This represents a $1.12 dividend on an annualized basis and a yield of 0.65%. AMETEK’s dividend payout ratio is currently 19.68%.

Insiders Place Their Bets

In other news, Director Steven W. Kohlhagen sold 1,470 shares of the company’s stock in a transaction that occurred on Wednesday, May 15th. The stock was sold at an average price of $170.20, for a total value of $250,194.00. Following the completion of the transaction, the director now owns 26,249 shares of the company’s stock, valued at $4,467,579.80. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In other news, Director Steven W. Kohlhagen sold 1,440 shares of AMETEK stock in a transaction on Wednesday, June 12th. The shares were sold at an average price of $173.93, for a total transaction of $250,459.20. Following the transaction, the director now owns 24,809 shares in the company, valued at $4,315,029.37. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Steven W. Kohlhagen sold 1,470 shares of the stock in a transaction on Wednesday, May 15th. The shares were sold at an average price of $170.20, for a total value of $250,194.00. Following the completion of the sale, the director now owns 26,249 shares of the company’s stock, valued at $4,467,579.80. The disclosure for this sale can be found here. 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.