Sumitomo Mitsui Trust Holdings Inc. Lowers Position in AMETEK, Inc. (NYSE:AME)

Sumitomo Mitsui Trust Holdings Inc. decreased its position in AMETEK, Inc. (NYSE:AMEFree Report) by 0.5% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 546,674 shares of the technology company’s stock after selling 3,005 shares during the period. Sumitomo Mitsui Trust Holdings Inc. owned about 0.24% of AMETEK worth $90,141,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also made changes to their positions in AME. Norges Bank purchased a new stake in shares of AMETEK in the fourth quarter valued at about $509,944,000. Price T Rowe Associates Inc. MD boosted its holdings in shares of AMETEK by 643.7% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 3,953,131 shares of the technology company’s stock valued at $552,332,000 after acquiring an additional 3,421,558 shares in the last quarter. Moneta Group Investment Advisors LLC boosted its holdings in shares of AMETEK by 39,681.6% in the fourth quarter. Moneta Group Investment Advisors LLC now owns 1,827,569 shares of the technology company’s stock valued at $255,348,000 after acquiring an additional 1,822,975 shares in the last quarter. Morgan Stanley boosted its holdings in shares of AMETEK by 93.2% in the fourth quarter. Morgan Stanley now owns 3,678,094 shares of the technology company’s stock valued at $513,903,000 after acquiring an additional 1,774,651 shares in the last quarter. Finally, BlackRock Inc. boosted its holdings in shares of AMETEK by 4.2% in the first quarter. BlackRock Inc. now owns 16,215,102 shares of the technology company’s stock valued at $2,356,541,000 after acquiring an additional 658,629 shares in the last quarter. Hedge funds and other institutional investors own 87.43% of the company’s stock.

AMETEK Stock Down 0.6 %

AME stock opened at $178.05 on Thursday. The company’s 50 day simple moving average is $179.04 and its 200-day simple moving average is $164.04. The firm has a market capitalization of $41.17 billion, a PE ratio of 31.40, a P/E/G ratio of 2.86 and a beta of 1.22. AMETEK, Inc. has a 12 month low of $133.12 and a 12 month high of $186.32. The company has a debt-to-equity ratio of 0.22, a current ratio of 0.98 and a quick ratio of 0.59.

AMETEK (NYSE:AMEGet Free Report) last released its quarterly earnings results on Tuesday, February 6th. The technology company reported $1.68 EPS for the quarter, beating the consensus estimate 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 net margin of 19.91% and a return on equity of 17.96%. The company’s quarterly revenue was up 6.1% on a year-over-year basis. During the same period in the prior year, the business earned $1.52 earnings per share. Equities analysts expect that AMETEK, Inc. will post 6.82 earnings per share for the current fiscal year.

AMETEK Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, March 28th. Investors of record on Friday, March 8th were paid a dividend of $0.28 per share. This is an increase from AMETEK’s previous quarterly dividend of $0.25. The ex-dividend date of this dividend was Thursday, March 7th. This represents a $1.12 annualized dividend and a dividend yield of 0.63%. AMETEK’s dividend payout ratio is presently 19.75%.

Wall Street Analysts Forecast Growth

AME has been the topic of a number of research analyst reports. KeyCorp boosted their price objective on shares of AMETEK from $182.00 to $205.00 and gave the stock an “overweight” rating in a report on Tuesday, February 27th. Royal Bank of Canada decreased their price objective on shares of AMETEK from $192.00 to $188.00 and set an “outperform” rating on the stock in a report on Wednesday, February 7th. Truist Financial initiated coverage on shares of AMETEK in a report on Thursday, March 14th. They set a “buy” rating and a $210.00 price objective on the stock. Finally, StockNews.com downgraded shares of AMETEK from a “buy” rating to a “hold” rating in a report on Saturday, March 2nd. Three research 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, AMETEK presently has an average rating of “Moderate Buy” and an average target price of $180.78.

Read Our Latest Analysis on AME

Insider Activity at AMETEK

In related news, CFO William Joseph Burke sold 5,973 shares of the company’s stock in a transaction that occurred on Monday, February 12th. The shares were sold at an average price of $168.90, for a total transaction of $1,008,839.70. Following the transaction, the chief financial officer now owns 101,709 shares of the company’s stock, valued at $17,178,650.10. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In related news, Director Steven W. Kohlhagen sold 1,400 shares of the company’s stock in a transaction that occurred on Tuesday, March 12th. The shares were sold at an average price of $180.59, for a total transaction of $252,826.00. Following the transaction, the director now owns 28,054 shares of the company’s stock, valued at $5,066,271.86. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, CFO William Joseph Burke sold 5,973 shares of the stock in a transaction that occurred on Monday, February 12th. The stock was sold at an average price of $168.90, for a total transaction of $1,008,839.70. Following the transaction, the chief financial officer now directly owns 101,709 shares in the company, valued at approximately $17,178,650.10. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 59,881 shares of company stock valued at $10,689,758. Company insiders own 0.61% of the company’s stock.

AMETEK Profile

(Free Report)

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.

Further Reading

Institutional Ownership by Quarter for AMETEK (NYSE:AME)

Receive News & Ratings for AMETEK Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for AMETEK and related companies with MarketBeat.com's FREE daily email newsletter.