Silvercrest Asset Management Group LLC Sells 20,247 Shares of AMETEK, Inc. (NYSE:AME)

Silvercrest Asset Management Group LLC lowered its position in AMETEK, Inc. (NYSE:AME) by 3.0% during the fourth quarter, according to its most recent filing with the SEC. The firm owned 646,182 shares of the technology company’s stock after selling 20,247 shares during the period. AMETEK accounts for approximately 0.8% of Silvercrest Asset Management Group LLC’s portfolio, making the stock its 21st largest position. Silvercrest Asset Management Group LLC owned 0.28% of AMETEK worth $116,481,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. Royal Bank of Canada increased its holdings in AMETEK by 16.3% in the fourth quarter. Royal Bank of Canada now owns 1,387,670 shares of the technology company’s stock worth $250,142,000 after purchasing an additional 194,635 shares in the last quarter. Rafferty Asset Management LLC increased its stake in shares of AMETEK by 11.3% in the 4th quarter. Rafferty Asset Management LLC now owns 21,601 shares of the technology company’s stock valued at $3,894,000 after acquiring an additional 2,187 shares in the last quarter. Raiffeisen Bank International AG acquired a new position in shares of AMETEK during the 4th quarter valued at $6,928,000. Port Capital LLC boosted its stake in AMETEK by 0.8% during the fourth quarter. Port Capital LLC now owns 473,975 shares of the technology company’s stock worth $85,439,000 after acquiring an additional 3,605 shares in the last quarter. Finally, ProShare Advisors LLC lifted its holdings in shares of AMETEK by 2.2% in the 4th quarter. ProShare Advisors LLC now owns 39,970 shares of the technology company’s stock worth $7,205,000 after purchasing an additional 852 shares in the last quarter. 87.43% of the stock is owned by institutional investors.

Insider Activity

In other news, Director Thomas A. Amato sold 710 shares of the business’s stock in a transaction that occurred on Thursday, March 27th. The shares were sold at an average price of $176.64, for a total value of $125,414.40. Following the sale, the director now directly owns 10,560 shares of the company’s stock, valued at approximately $1,865,318.40. The trade was a 6.30% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Steven W. Kohlhagen sold 1,320 shares of the firm’s stock in a transaction on Monday, March 3rd. The stock was sold at an average price of $189.41, for a total value of $250,021.20. Following the transaction, the director now owns 22,029 shares of the company’s stock, valued at approximately $4,172,512.89. This represents a 5.65% decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 0.57% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have recently commented on AME. StockNews.com raised shares of AMETEK from a “hold” rating to a “buy” rating in a research report on Monday. Royal Bank of Canada upped their price objective on AMETEK from $194.00 to $201.00 and gave the company an “outperform” rating in a research note on Friday, May 2nd. Robert W. Baird decreased their target price on AMETEK from $197.00 to $190.00 and set a “neutral” rating for the company in a research report on Wednesday, May 7th. Truist Financial upped their price target on AMETEK from $196.00 to $200.00 and gave the company a “buy” rating in a research report on Monday, May 5th. Finally, BNP Paribas raised AMETEK from a “neutral” rating to an “outperform” rating and set a $210.00 price objective for the company in a report on Thursday, January 16th. One research analyst has rated the stock with a sell rating, three have given a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, AMETEK currently has an average rating of “Moderate Buy” and a consensus target price of $196.90.

AMETEK Stock Performance

Shares of AME opened at $180.12 on Friday. AMETEK, Inc. has a one year low of $145.02 and a one year high of $198.33. The firm has a market capitalization of $41.59 billion, a P/E ratio of 30.37, a PEG ratio of 2.73 and a beta of 1.12. The company has a debt-to-equity ratio of 0.15, a current ratio of 1.24 and a quick ratio of 0.75. The business has a fifty day moving average of $168.25 and a 200 day moving average of $179.74.

AMETEK (NYSE:AME) last released its quarterly earnings results on Thursday, May 1st. The technology company reported $1.75 earnings per share for the quarter, beating the consensus estimate of $1.69 by $0.06. AMETEK had a return on equity of 16.94% and a net margin of 19.83%. The business had revenue of $1.73 billion during the quarter, compared to analysts’ expectations of $1.74 billion. During the same quarter last year, the business posted $1.64 EPS. The firm’s revenue for the quarter was down .2% compared to the same quarter last year. As a group, sell-side analysts anticipate that AMETEK, Inc. will post 7.15 EPS for the current year.

AMETEK announced that its board has initiated a share repurchase plan on Friday, February 7th that authorizes the company to repurchase $1.25 billion in outstanding shares. This repurchase authorization authorizes the technology company to buy up to 2.9% of its shares through open market purchases. Shares repurchase plans are generally a sign that the company’s board of directors believes its shares are undervalued.

AMETEK Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, June 30th. Stockholders of record on Friday, June 13th will be given a dividend of $0.31 per share. The ex-dividend date of this dividend is Friday, June 13th. This represents a $1.24 annualized dividend and a dividend yield of 0.69%. AMETEK’s payout ratio is 20.29%.

AMETEK 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.