Handelsbanken Fonder AB Acquires 22,698 Shares of AMETEK, Inc. (NYSE:AME)

Handelsbanken Fonder AB grew its position in AMETEK, Inc. (NYSE:AME) by 135.0% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 39,513 shares of the technology company’s stock after acquiring an additional 22,698 shares during the quarter. Handelsbanken Fonder AB’s holdings in AMETEK were worth $6,515,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also added to or reduced their stakes in the company. CWM LLC boosted its holdings in shares of AMETEK by 8.4% in the 3rd quarter. CWM LLC now owns 3,875 shares of the technology company’s stock worth $573,000 after purchasing an additional 301 shares during the period. Private Trust Co. NA lifted its holdings in shares of AMETEK by 78.6% in the 3rd quarter. Private Trust Co. NA now owns 1,363 shares of the technology company’s stock worth $201,000 after buying an additional 600 shares during the period. Czech National Bank lifted its holdings in shares of AMETEK by 47.8% in the 3rd quarter. Czech National Bank now owns 40,324 shares of the technology company’s stock worth $5,958,000 after buying an additional 13,041 shares during the period. Asset Management One Co. Ltd. lifted its holdings in shares of AMETEK by 1.1% in the 3rd quarter. Asset Management One Co. Ltd. now owns 110,102 shares of the technology company’s stock worth $16,269,000 after buying an additional 1,205 shares during the period. Finally, Wendell David Associates Inc. purchased a new stake in shares of AMETEK in the 3rd quarter worth $244,000. Institutional investors own 87.43% of the company’s stock.

Analyst Upgrades and Downgrades

AME has been the subject of several research reports. KeyCorp upped their target price on AMETEK from $182.00 to $205.00 and gave the stock an “overweight” rating in a report on Tuesday, February 27th. Truist Financial assumed coverage on AMETEK in a report on Thursday, March 14th. They issued a “buy” rating and a $210.00 target price for the company. StockNews.com lowered AMETEK from a “buy” rating to a “hold” rating in a research report on Saturday, March 2nd. Finally, Royal Bank of Canada reduced their price target on AMETEK from $192.00 to $188.00 and set an “outperform” rating for the company in a research report on Wednesday, February 7th. Three investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $180.78.

Insider Buying and Selling

In related news, Director Thomas A. Amato sold 780 shares of the firm’s stock in a transaction dated Tuesday, March 26th. The stock was sold at an average price of $182.00, for a total transaction of $141,960.00. Following the sale, the director now directly owns 10,240 shares of the company’s stock, valued at $1,863,680. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In other AMETEK news, CFO William Joseph Burke sold 17,437 shares of the firm’s stock in a transaction that occurred on Wednesday, February 14th. The stock was sold at an average price of $168.51, for a total value of $2,938,308.87. Following the sale, the chief financial officer now directly owns 101,709 shares of the company’s stock, valued at $17,138,983.59. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Thomas A. Amato sold 780 shares of the firm’s stock in a transaction that occurred on Tuesday, March 26th. The shares were sold at an average price of $182.00, for a total value of $141,960.00. Following the completion of the sale, the director now directly owns 10,240 shares in the company, valued at $1,863,680. The disclosure for this sale can be found here. Insiders have sold a total of 59,881 shares of company stock valued at $10,689,758 over the last ninety days. Company insiders own 0.61% of the company’s stock.

AMETEK Stock Down 0.2 %

Shares of AME stock opened at $177.91 on Friday. The stock’s 50-day simple moving average is $180.05 and its 200-day simple moving average is $165.16. The company has a debt-to-equity ratio of 0.22, a quick ratio of 0.59 and a current ratio of 0.98. The firm has a market capitalization of $41.13 billion, a PE ratio of 31.38, a P/E/G ratio of 2.87 and a beta of 1.22. AMETEK, Inc. has a fifty-two week low of $133.12 and a fifty-two week high of $186.32.

AMETEK (NYSE:AME) last announced its quarterly earnings data on Tuesday, February 6th. The technology company reported $1.68 earnings per share for the quarter, beating analysts’ consensus estimates of $1.62 by $0.06. The business had revenue of $1.73 billion for the quarter, compared to analyst estimates of $1.73 billion. AMETEK had a return on equity of 17.96% and a net margin of 19.91%. The company’s revenue was up 6.1% on a year-over-year basis. During the same period in the prior year, the company earned $1.52 earnings per share. Equities analysts expect that AMETEK, Inc. will post 6.82 earnings per share for the current year.

AMETEK Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, March 28th. Investors of record on Friday, March 8th were issued a dividend of $0.28 per share. This represents a $1.12 annualized dividend and a yield of 0.63%. This is a positive change from AMETEK’s previous quarterly dividend of $0.25. The ex-dividend date was Thursday, March 7th. AMETEK’s dividend payout ratio (DPR) is 19.75%.

AMETEK Company 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.