AMETEK, Inc. (NYSE:AME) Shares Sold by Portfolio Design Labs LLC

Portfolio Design Labs LLC lessened its stake in AMETEK, Inc. (NYSE:AME) by 52.2% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 8,726 shares of the technology company’s stock after selling 9,525 shares during the quarter. Portfolio Design Labs LLC’s holdings in AMETEK were worth $1,498,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of AME. EverSource Wealth Advisors LLC lifted its stake in AMETEK by 7.3% during the first quarter. EverSource Wealth Advisors LLC now owns 899 shares of the technology company’s stock worth $157,000 after purchasing an additional 61 shares in the last quarter. MorganRosel Wealth Management LLC raised its stake in shares of AMETEK by 1.6% in the second quarter. MorganRosel Wealth Management LLC now owns 3,886 shares of the technology company’s stock valued at $648,000 after acquiring an additional 61 shares in the last quarter. Commerzbank Aktiengesellschaft FI raised its stake in shares of AMETEK by 4.8% in the second quarter. Commerzbank Aktiengesellschaft FI now owns 1,340 shares of the technology company’s stock valued at $224,000 after acquiring an additional 61 shares in the last quarter. First Horizon Advisors Inc. raised its stake in shares of AMETEK by 2.4% in the second quarter. First Horizon Advisors Inc. now owns 2,639 shares of the technology company’s stock valued at $440,000 after acquiring an additional 62 shares in the last quarter. Finally, Checchi Capital Advisers LLC raised its stake in shares of AMETEK by 2.9% in the second quarter. Checchi Capital Advisers LLC now owns 2,225 shares of the technology company’s stock valued at $371,000 after acquiring an additional 63 shares in the last quarter. Institutional investors and hedge funds own 87.43% of the company’s stock.

Insiders Place Their Bets

In other news, insider David F. Hermance sold 6,243 shares of the business’s stock in a transaction on 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 of the company’s stock, valued at $7,015,253.69. The trade was a 14.53 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Steven W. Kohlhagen sold 1,460 shares of the business’s stock in a transaction on Wednesday, September 25th. The shares were sold at an average price of $171.59, for a total transaction of $250,521.40. Following the sale, the director now directly owns 23,349 shares of the company’s stock, valued at $4,006,454.91. This represents a 5.88 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.61% of the stock is owned by corporate insiders.

AMETEK Price Performance

AME stock opened at $193.46 on Wednesday. The firm has a 50 day moving average of $174.74 and a 200-day moving average of $170.16. AMETEK, Inc. has a 12-month low of $149.03 and a 12-month high of $196.70. The company has a current ratio of 1.39, a quick ratio of 0.84 and a debt-to-equity ratio of 0.18. The company has a market cap of $44.75 billion, a price-to-earnings ratio of 33.70, a PEG ratio of 3.15 and a beta of 1.16.

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 the consensus estimate of $1.62 by $0.04. AMETEK had a return on equity of 16.88% and a net margin of 19.27%. The firm had revenue of $1.71 billion during the quarter, compared to the consensus estimate of $1.71 billion. During the same period in the previous year, the firm posted $1.64 EPS. The company’s quarterly revenue was up 5.3% compared to the same quarter last year. As a group, equities analysts expect that AMETEK, Inc. will post 6.81 EPS for the current fiscal year.

AMETEK Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, December 20th. Shareholders of record on Friday, December 6th will be paid a $0.28 dividend. The ex-dividend date of this dividend is Friday, December 6th. This represents a $1.12 annualized dividend and a yield of 0.58%. AMETEK’s payout ratio is currently 19.51%.

Analysts Set New Price Targets

Several analysts have recently issued reports on the company. Royal Bank of Canada reduced their price objective on AMETEK from $216.00 to $215.00 and set an “outperform” rating on the stock in a research note on Friday, August 2nd. Redburn Atlantic raised AMETEK to a “strong-buy” rating in a report on Friday, August 2nd. TD Cowen lowered AMETEK from a “hold” rating to a “sell” rating in a report on Monday, October 7th. Wolfe Research raised AMETEK to a “hold” rating in a report on Wednesday, September 18th. Finally, Mizuho increased their target price on AMETEK from $190.00 to $200.00 and gave the company an “outperform” rating in a report on Friday, November 1st. 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 given a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $197.86.

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.