Victory Capital Management Inc. Grows Holdings in AMETEK, Inc. (NYSE:AME)

Victory Capital Management Inc. boosted its holdings in shares of AMETEK, Inc. (NYSE:AME) by 6.5% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 162,161 shares of the technology company’s stock after acquiring an additional 9,928 shares during the period. Victory Capital Management Inc.’s holdings in AMETEK were worth $27,845,000 at the end of the most recent reporting period.

Other hedge funds have also bought and sold shares of the company. Avantax Advisory Services Inc. boosted its holdings in AMETEK by 4.4% in the first quarter. Avantax Advisory Services Inc. now owns 1,723 shares of the technology company’s stock worth $315,000 after acquiring an additional 73 shares in the last quarter. UniSuper Management Pty Ltd boosted its stake in AMETEK by 284.5% in the 1st quarter. UniSuper Management Pty Ltd now owns 8,160 shares of the technology company’s stock worth $1,492,000 after purchasing an additional 6,038 shares in the last quarter. Bessemer Group Inc. grew its position in AMETEK by 38.1% during the 1st quarter. Bessemer Group Inc. now owns 734,188 shares of the technology company’s stock valued at $134,283,000 after purchasing an additional 202,604 shares during the last quarter. Lake Street Advisors Group LLC raised its holdings in AMETEK by 15.8% in the first quarter. Lake Street Advisors Group LLC now owns 1,709 shares of the technology company’s stock worth $312,000 after buying an additional 233 shares during the last quarter. Finally, CANADA LIFE ASSURANCE Co raised its holdings in AMETEK by 9.3% in the first quarter. CANADA LIFE ASSURANCE Co now owns 132,853 shares of the technology company’s stock worth $24,301,000 after buying an additional 11,327 shares during the last quarter. Institutional investors own 87.43% of the company’s stock.

AMETEK Stock Down 0.3 %

Shares of AME stock opened at $193.10 on Monday. The company has a 50 day simple moving average of $173.59 and a two-hundred day simple moving average of $169.76. The stock has a market cap of $44.67 billion, a P/E ratio of 33.64, a P/E/G ratio of 3.15 and a beta of 1.16. 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.

AMETEK (NYSE:AME) last announced its earnings results 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 return on equity of 16.88% and a net margin of 19.27%. The company had revenue of $1.71 billion for the quarter, compared to analysts’ expectations of $1.71 billion. During the same period last year, the firm earned $1.64 EPS. AMETEK’s revenue for the quarter was up 5.3% compared to the same quarter last year. On average, research analysts expect that AMETEK, Inc. will post 6.81 earnings per share for the current year.

AMETEK Dividend Announcement

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

Insiders Place Their Bets

In related news, Director Steven W. Kohlhagen sold 1,460 shares of AMETEK stock in a transaction that occurred on Wednesday, September 25th. The stock was sold at an average price of $171.59, for a total transaction of $250,521.40. Following the sale, the director now owns 23,349 shares of the company’s stock, valued at approximately $4,006,454.91. This trade represents a 5.88 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider David F. Hermance sold 6,243 shares of the company’s stock in a transaction that occurred on Friday, November 8th. The stock was sold at an average price of $190.99, for a total value of $1,192,350.57. Following the completion of the transaction, the insider now owns 36,731 shares of the company’s stock, valued at $7,015,253.69. The trade was a 14.53 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.61% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on the stock. Mizuho raised their price target on shares of AMETEK from $190.00 to $200.00 and gave the company an “outperform” rating in a research report on Friday, November 1st. Royal Bank of Canada decreased their price target on AMETEK from $216.00 to $215.00 and set an “outperform” rating for the company in a research note on Friday, August 2nd. Truist Financial increased their price objective on AMETEK from $219.00 to $221.00 and gave the company a “buy” rating in a research report on Friday, November 1st. StockNews.com lowered AMETEK from a “buy” rating to a “hold” rating in a research report on Friday. Finally, TD Cowen lowered shares of AMETEK from a “hold” rating to a “sell” rating in a research note on Monday, October 7th. One investment analyst has rated the stock with a sell rating, three have given a hold rating, five have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the company has an average 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.