AMETEK, Inc. (NYSE:AME) Shares Sold by Monte Financial Group LLC

Monte Financial Group LLC cut its position in AMETEK, Inc. (NYSE:AME) by 1.6% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 6,966 shares of the technology company’s stock after selling 115 shares during the quarter. Monte Financial Group LLC’s holdings in AMETEK were worth $1,256,000 at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. Oddo BHF Asset Management Sas acquired a new stake in shares of AMETEK in the third quarter valued at approximately $3,724,000. Everence Capital Management Inc. purchased a new stake in AMETEK in the 4th quarter valued at $999,000. BNP Paribas Financial Markets boosted its stake in AMETEK by 23.2% during the 3rd quarter. BNP Paribas Financial Markets now owns 355,828 shares of the technology company’s stock worth $61,099,000 after purchasing an additional 67,025 shares during the period. Taurus Asset Management LLC grew its position in AMETEK by 2.9% during the 3rd quarter. Taurus Asset Management LLC now owns 115,033 shares of the technology company’s stock worth $19,752,000 after purchasing an additional 3,210 shares during the last quarter. Finally, Sawgrass Asset Management LLC increased its stake in AMETEK by 36.5% in the third quarter. Sawgrass Asset Management LLC now owns 74,757 shares of the technology company’s stock valued at $12,837,000 after purchasing an additional 20,001 shares during the period. Hedge funds and other institutional investors own 87.43% of the company’s stock.

Insider Buying and Selling

In other AMETEK news, insider Tony J. Ciampitti sold 16,210 shares of AMETEK 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 transaction, the insider now owns 49,490 shares in the company, valued at approximately $9,750,024.90. The trade was a 24.67 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider David F. Hermance sold 6,243 shares of the company’s stock in a transaction dated Friday, November 8th. The shares were sold at an average price of $190.99, for a total transaction of $1,192,350.57. Following the completion of the sale, 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 position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 29,200 shares of company stock valued at $5,707,620. 0.61% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on the stock. Robert W. Baird increased their target price on shares of AMETEK from $166.00 to $186.00 and gave the stock a “neutral” rating in a research note on Monday, November 4th. StockNews.com cut AMETEK from a “buy” rating to a “hold” rating in a research report on Friday, January 17th. BNP Paribas raised AMETEK from a “neutral” rating to an “outperform” rating and set a $210.00 target price on the stock in a report on Thursday, January 16th. Truist Financial increased their price target on AMETEK from $221.00 to $222.00 and gave the stock a “buy” rating in a report on Thursday, January 16th. Finally, KeyCorp boosted their price objective on shares of AMETEK from $205.00 to $215.00 and gave the company an “overweight” rating in a research note on Friday, November 22nd. One research analyst has rated the stock with a sell rating, three have issued a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $203.44.

AMETEK Price Performance

Shares of NYSE AME opened at $187.91 on Friday. The company has a debt-to-equity ratio of 0.18, a quick ratio of 0.84 and a current ratio of 1.39. AMETEK, Inc. has a one year low of $149.03 and a one year high of $198.33. The firm has a market capitalization of $43.47 billion, a P/E ratio of 32.74, a PEG ratio of 2.73 and a beta of 1.16. The company’s fifty day moving average is $186.47 and its two-hundred day moving average is $175.84.

AMETEK (NYSE:AME) last released its quarterly earnings data on Thursday, October 31st. The technology company reported $1.66 EPS for the quarter, topping analysts’ consensus estimates of $1.62 by $0.04. AMETEK had a net margin of 19.27% and a return on equity of 16.88%. The firm had revenue of $1.71 billion for the quarter, compared to the consensus estimate of $1.71 billion. During the same quarter in the previous year, the firm earned $1.64 earnings per share. The firm’s revenue was up 5.3% on a year-over-year basis. Analysts forecast that AMETEK, Inc. will post 6.8 EPS for the current fiscal year.

AMETEK Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, December 20th. Investors of record on Friday, December 6th were paid a $0.28 dividend. This represents a $1.12 annualized dividend and a yield of 0.60%. The ex-dividend date was Friday, December 6th. AMETEK’s payout ratio is currently 19.51%.

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.