National Pension Service Acquires 6,289 Shares of AMETEK, Inc. $AME

National Pension Service grew its holdings in shares of AMETEK, Inc. (NYSE:AME) by 2.1% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 312,601 shares of the technology company’s stock after purchasing an additional 6,289 shares during the quarter. National Pension Service’s holdings in AMETEK were worth $58,769,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Darwin Wealth Management LLC bought a new stake in AMETEK in the second quarter worth about $25,000. NewSquare Capital LLC lifted its position in shares of AMETEK by 129.7% during the 2nd quarter. NewSquare Capital LLC now owns 170 shares of the technology company’s stock valued at $31,000 after buying an additional 96 shares during the last quarter. TruNorth Capital Management LLC bought a new position in shares of AMETEK during the 3rd quarter worth $31,000. SouthState Corp increased its holdings in AMETEK by 47.4% in the 2nd quarter. SouthState Corp now owns 202 shares of the technology company’s stock worth $37,000 after acquiring an additional 65 shares during the last quarter. Finally, AdvisorShares Investments LLC purchased a new stake in AMETEK during the second quarter valued at about $39,000. 87.43% of the stock is owned by hedge funds and other institutional investors.

AMETEK Price Performance

Shares of NYSE:AME opened at $224.04 on Monday. AMETEK, Inc. has a one year low of $145.02 and a one year high of $227.79. The company’s fifty day moving average price is $207.72 and its 200-day moving average price is $194.13. The firm has a market capitalization of $51.57 billion, a price-to-earnings ratio of 35.34, a PEG ratio of 3.05 and a beta of 1.03. The company has a debt-to-equity ratio of 0.14, a current ratio of 1.16 and a quick ratio of 0.72.

AMETEK (NYSE:AME) last issued its quarterly earnings results on Thursday, October 30th. The technology company reported $1.89 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.76 by $0.13. The firm had revenue of $1.89 billion during the quarter, compared to analyst estimates of $1.81 billion. AMETEK had a return on equity of 16.66% and a net margin of 20.50%.The company’s revenue was up 10.8% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.66 earnings per share. On average, equities research analysts anticipate that AMETEK, Inc. will post 7.15 earnings per share for the current fiscal year.

AMETEK Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, December 19th. Shareholders of record on Friday, December 5th were given a dividend of $0.31 per share. This represents a $1.24 dividend on an annualized basis and a yield of 0.6%. The ex-dividend date was Friday, December 5th. AMETEK’s dividend payout ratio (DPR) is presently 19.56%.

Insiders Place Their Bets

In other news, CEO David A. Zapico sold 88,000 shares of the business’s stock in a transaction that occurred on Tuesday, November 25th. The shares were sold at an average price of $196.39, for a total value of $17,282,320.00. Following the completion of the sale, the chief executive officer directly owned 348,955 shares in the company, valued at approximately $68,531,272.45. The trade was a 20.14% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, VP Thomas M. Montgomery sold 6,388 shares of AMETEK stock in a transaction on Monday, December 22nd. The stock was sold at an average price of $205.05, for a total transaction of $1,309,859.40. Following the completion of the transaction, the vice president owned 22,116 shares in the company, valued at approximately $4,534,885.80. The trade was a 22.41% decrease in their position. The SEC filing for this sale provides additional information. Over the last ninety days, insiders have sold 137,088 shares of company stock valued at $27,212,340. 0.57% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on the stock. Deutsche Bank Aktiengesellschaft began coverage on shares of AMETEK in a research note on Wednesday, January 21st. They issued a “buy” rating and a $271.00 target price for the company. Mizuho increased their price objective on AMETEK from $225.00 to $230.00 and gave the stock an “outperform” rating in a report on Monday, January 5th. Royal Bank Of Canada lifted their target price on AMETEK from $212.00 to $229.00 and gave the company an “outperform” rating in a report on Friday, October 31st. Melius Research set a $235.00 target price on shares of AMETEK in a report on Monday, January 5th. Finally, Truist Financial boosted their price target on shares of AMETEK from $219.00 to $229.00 and gave the company a “buy” rating in a research report on Wednesday, October 8th. One analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and four have given a Hold rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $229.82.

AMETEK Company Profile

AMETEK, Inc is a global manufacturer of electronic instruments and electromechanical devices that serves a broad range of industries. Headquartered in Berwyn, Pennsylvania, the company designs and produces precision instruments, electronic measurement devices, specialty sensors, and electric motors and motion control systems. Its product portfolio includes analytical and monitoring instruments, calibration equipment, power supplies, embedded electronics, and industrial motors and drives used for critical applications.

The company operates through two primary business platforms — an electronic instruments group focused on analytical, test and measurement and sensor products, and an electromechanical group that supplies motors, actuators, and related power and motion solutions.