Twin Capital Management Inc. Sells 375 Shares of AMETEK, Inc. (NYSE:AME)

Twin Capital Management Inc. reduced its position in shares of AMETEK, Inc. (NYSE:AME) by 2.3% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 15,916 shares of the technology company’s stock after selling 375 shares during the period. Twin Capital Management Inc.’s holdings in AMETEK were worth $2,624,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in AME. Cambridge Investment Research Advisors Inc. lifted its holdings in AMETEK by 9.6% during the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 4,306 shares of the technology company’s stock valued at $573,000 after purchasing an additional 376 shares during the last quarter. Lord Abbett & CO. LLC lifted its holdings in AMETEK by 12.7% during the 1st quarter. Lord Abbett & CO. LLC now owns 84,481 shares of the technology company’s stock valued at $11,251,000 after purchasing an additional 9,510 shares during the last quarter. Prudential PLC bought a new position in AMETEK during the 1st quarter valued at about $591,000. Cetera Investment Advisers raised its stake in shares of AMETEK by 45.1% in the first quarter. Cetera Investment Advisers now owns 2,974 shares of the technology company’s stock worth $396,000 after acquiring an additional 924 shares during the last quarter. Finally, Sequoia Financial Advisors LLC raised its stake in shares of AMETEK by 41.7% in the first quarter. Sequoia Financial Advisors LLC now owns 2,379 shares of the technology company’s stock worth $316,000 after acquiring an additional 700 shares during the last quarter. 87.43% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on AME shares. Royal Bank of Canada dropped their target price 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. KeyCorp boosted their target price 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. Truist Financial started coverage on shares of AMETEK in a research note on Thursday, March 14th. They issued a “buy” rating and a $210.00 target price for the company. Finally, StockNews.com downgraded shares of AMETEK from a “buy” rating to a “hold” rating in a research note on Saturday, March 2nd. Three investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $180.78.

Insider Activity at AMETEK

In related news, CFO William Joseph Burke sold 5,973 shares of the business’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 completion of the transaction, the chief financial officer now owns 101,709 shares in the company, valued at $17,178,650.10. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other news, Director Thomas A. Amato sold 780 shares of the company’s stock in a transaction that occurred on 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 transaction, the director now owns 10,240 shares in the company, valued at $1,863,680. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, 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 completion of the transaction, the chief financial officer now owns 101,709 shares of the company’s stock, valued at approximately $17,178,650.10. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 59,881 shares of company stock worth $10,689,758. 0.61% of the stock is currently owned by company insiders.

AMETEK Trading Down 0.3 %

Shares of NYSE:AME traded down $0.52 during trading on Thursday, hitting $177.53. 240,238 shares of the company’s stock were exchanged, compared to its average volume of 941,453. AMETEK, Inc. has a 1-year low of $133.12 and a 1-year high of $186.32. The firm has a 50-day moving average price of $179.04 and a two-hundred day moving average price of $164.04. The company has a current ratio of 0.98, a quick ratio of 0.59 and a debt-to-equity ratio of 0.22. The firm has a market cap of $41.05 billion, a P/E ratio of 31.40, a PEG ratio of 2.86 and a beta of 1.22.

AMETEK (NYSE:AME) last issued its quarterly earnings data on Tuesday, February 6th. The technology company reported $1.68 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.62 by $0.06. The firm had revenue of $1.73 billion during the quarter, compared to analysts’ expectations of $1.73 billion. AMETEK had a net margin of 19.91% and a return on equity of 17.96%. The business’s revenue for the quarter was up 6.1% on a year-over-year basis. During the same quarter in the previous year, the company earned $1.52 earnings per share. Equities analysts predict that AMETEK, Inc. will post 6.82 earnings per share for the current 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 issued a dividend of $0.28 per share. The ex-dividend date was Thursday, March 7th. This represents a $1.12 dividend on an annualized basis and a yield of 0.63%. This is a boost from AMETEK’s previous quarterly dividend of $0.25. AMETEK’s payout ratio is currently 19.75%.

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.