PGGM Investments Sells 1,192 Shares of AMETEK, Inc. (NYSE:AME)

PGGM Investments decreased its stake in shares of AMETEK, Inc. (NYSE:AME) by 1.5% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 79,567 shares of the technology company’s stock after selling 1,192 shares during the period. PGGM Investments’ holdings in AMETEK were worth $13,120,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in AME. Private Trust Co. NA raised its position in AMETEK by 78.6% in the third quarter. Private Trust Co. NA now owns 1,363 shares of the technology company’s stock worth $201,000 after acquiring an additional 600 shares during the period. Asset Management One Co. Ltd. raised its position in AMETEK by 1.1% in the third quarter. Asset Management One Co. Ltd. now owns 110,102 shares of the technology company’s stock worth $16,269,000 after acquiring an additional 1,205 shares during the period. Wendell David Associates Inc. bought a new position in AMETEK in the third quarter worth approximately $244,000. Commonwealth Equity Services LLC raised its position in AMETEK by 1.6% in the third quarter. Commonwealth Equity Services LLC now owns 15,965 shares of the technology company’s stock worth $2,359,000 after acquiring an additional 257 shares during the period. Finally, Compagnie Lombard Odier SCmA bought a new position in AMETEK in the third quarter worth approximately $32,039,000. Institutional investors own 87.43% of the company’s stock.

AMETEK Price Performance

AME stock traded down $0.42 during trading on Friday, hitting $177.51. 637,924 shares of the company’s stock traded hands, compared to its average volume of 788,079. AMETEK, Inc. has a 52 week low of $133.77 and a 52 week high of $186.32. The company has a debt-to-equity ratio of 0.22, a quick ratio of 0.59 and a current ratio of 0.98. The business has a fifty day simple moving average of $180.12 and a 200 day simple moving average of $165.44. The stock has a market capitalization of $41.04 billion, a price-to-earnings ratio of 31.31, a P/E/G ratio of 2.84 and a beta of 1.22.

AMETEK (NYSE:AME) last released its earnings results on Tuesday, February 6th. The technology company reported $1.68 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.62 by $0.06. The firm had revenue of $1.73 billion during 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 business’s revenue was up 6.1% on a year-over-year basis. During the same quarter last year, the business earned $1.52 EPS. As a group, research analysts expect that AMETEK, Inc. will post 6.82 EPS for the current fiscal year.

AMETEK Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, March 28th. Stockholders of record on Friday, March 8th were issued a $0.28 dividend. This represents a $1.12 annualized dividend and a dividend yield of 0.63%. The ex-dividend date was Thursday, March 7th. This is a positive change from AMETEK’s previous quarterly dividend of $0.25. AMETEK’s dividend payout ratio (DPR) is 19.75%.

Analyst Ratings Changes

AME has been the subject of a number of analyst reports. Truist Financial initiated coverage on shares of AMETEK in a research note on Thursday, March 14th. They issued a “buy” rating and a $210.00 price objective for the company. KeyCorp increased their price objective on shares of AMETEK from $182.00 to $205.00 and gave the stock an “overweight” rating in a research note on Tuesday, February 27th. StockNews.com cut shares of AMETEK from a “buy” rating to a “hold” rating in a research note on Saturday, March 2nd. Finally, Royal Bank of Canada reduced their price objective on shares of AMETEK from $192.00 to $188.00 and set an “outperform” rating for the company in a research note on Wednesday, February 7th. Three equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $180.78.

Insider Transactions at AMETEK

In other news, Director Thomas A. Amato sold 780 shares of the firm’s stock in a transaction dated Tuesday, March 26th. The shares were sold at an average price of $182.00, for a total value of $141,960.00. Following the completion of the sale, the director now owns 10,240 shares in the company, valued at approximately $1,863,680. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In related news, Director Thomas A. Amato sold 780 shares of AMETEK stock in a transaction dated Tuesday, March 26th. The shares were sold at an average price of $182.00, for a total transaction of $141,960.00. Following the completion of the sale, the director now owns 10,240 shares in the company, valued at approximately $1,863,680. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Steven W. Kohlhagen sold 1,400 shares of AMETEK stock in a transaction dated Tuesday, March 12th. The shares were sold at an average price of $180.59, for a total transaction of $252,826.00. Following the sale, the director now owns 28,054 shares of the company’s stock, valued at approximately $5,066,271.86. The disclosure for this sale can be found here. In the last quarter, insiders sold 59,881 shares of company stock worth $10,689,758. 0.61% of the stock is currently owned by insiders.

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.