AMETEK, Inc. $AME Shares Bought by Principal Financial Group Inc.

Principal Financial Group Inc. increased its position in shares of AMETEK, Inc. (NYSE:AME) by 4.9% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 2,043,029 shares of the technology company’s stock after acquiring an additional 94,645 shares during the period. Principal Financial Group Inc.’s holdings in AMETEK were worth $384,096,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of the stock. Darwin Wealth Management LLC purchased a new position in shares of AMETEK in the second quarter worth approximately $25,000. TruNorth Capital Management LLC acquired a new position in AMETEK in the 3rd quarter valued at approximately $31,000. NewSquare Capital LLC increased its stake in shares of AMETEK by 129.7% in the second quarter. NewSquare Capital LLC now owns 170 shares of the technology company’s stock worth $31,000 after acquiring an additional 96 shares during the last quarter. SouthState Corp increased its position 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 purchasing an additional 65 shares during the last quarter. Finally, Grey Fox Wealth Advisors LLC acquired a new position in AMETEK in the third quarter worth approximately $39,000. Institutional investors own 87.43% of the company’s stock.

Analyst Upgrades and Downgrades

AME has been the topic of a number of analyst reports. Oppenheimer lowered AMETEK from an “outperform” rating to a “market perform” rating in a report on Tuesday. Mizuho raised their price target on shares of AMETEK from $225.00 to $230.00 and gave the stock an “outperform” rating in a research report on Monday, January 5th. Wall Street Zen upgraded AMETEK from a “hold” rating to a “buy” rating in a research note on Saturday, November 1st. Royal Bank Of Canada raised their price target on shares of AMETEK from $212.00 to $229.00 and gave the stock an “outperform” rating in a research note on Friday, October 31st. Finally, Robert W. Baird lifted their price objective on AMETEK from $198.00 to $204.00 and gave the company a “neutral” rating in a report on Monday, November 3rd. One equities research 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. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $229.82.

Insider Activity at AMETEK

In related news, VP Thomas M. Montgomery sold 6,388 shares of the firm’s stock in a transaction dated Monday, December 22nd. The shares were sold at an average price of $205.05, for a total value of $1,309,859.40. Following the completion of the sale, the vice president directly owned 22,116 shares in the company, valued at approximately $4,534,885.80. This trade represents a 22.41% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CEO David A. Zapico sold 88,000 shares of the firm’s stock in a transaction 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 sale, the chief executive officer directly owned 348,955 shares of the company’s stock, valued at $68,531,272.45. This represents a 20.14% decrease in their position. The SEC filing for this sale provides additional information. Over the last 90 days, insiders sold 137,088 shares of company stock valued at $27,212,340. Corporate insiders own 0.57% of the company’s stock.

AMETEK Trading Down 1.1%

NYSE AME opened at $224.04 on Friday. The company has a market capitalization of $51.57 billion, a PE ratio of 35.34, a P/E/G ratio of 3.09 and a beta of 1.04. The stock has a 50-day simple moving average of $207.72 and a 200 day simple moving average of $194.01. The company has a current ratio of 1.16, a quick ratio of 0.72 and a debt-to-equity ratio of 0.14. AMETEK, Inc. has a 12 month low of $145.02 and a 12 month high of $227.79.

AMETEK (NYSE:AME) last released its quarterly earnings data on Thursday, October 30th. The technology company reported $1.89 EPS for the quarter, beating analysts’ consensus estimates of $1.76 by $0.13. AMETEK had a net margin of 20.50% and a return on equity of 16.66%. The business had revenue of $1.89 billion during the quarter, compared to analysts’ expectations of $1.81 billion. During the same quarter in the prior year, the company earned $1.66 EPS. The firm’s quarterly revenue was up 10.8% on a year-over-year basis. Research analysts forecast that AMETEK, Inc. will post 7.15 EPS for the current year.

AMETEK Announces Dividend

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

AMETEK 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.