Swiss National Bank Increases Stock Position in AMETEK, Inc. (NYSE:AME)

Swiss National Bank boosted its position in AMETEK, Inc. (NYSE:AME) by 0.4% during the 3rd quarter, HoldingsChannel.com reports. The firm owned 687,025 shares of the technology company’s stock after purchasing an additional 2,500 shares during the quarter. Swiss National Bank’s holdings in AMETEK were worth $117,969,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of AME. Bank of New York Mellon Corp lifted its stake in AMETEK by 34.6% in the 2nd quarter. Bank of New York Mellon Corp now owns 3,602,753 shares of the technology company’s stock worth $600,615,000 after purchasing an additional 926,657 shares in the last quarter. Meridiem Investment Management Ltd. purchased a new stake in AMETEK in the 3rd quarter worth approximately $130,579,000. Principal Financial Group Inc. lifted its stake in AMETEK by 72.0% in the 3rd quarter. Principal Financial Group Inc. now owns 1,680,309 shares of the technology company’s stock worth $288,526,000 after purchasing an additional 703,501 shares in the last quarter. James Hambro & Partners LLP purchased a new stake in AMETEK in the 3rd quarter worth approximately $60,188,000. Finally, Ceredex Value Advisors LLC bought a new position in shares of AMETEK in the 3rd quarter worth $40,811,000. 87.43% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, Director Steven W. Kohlhagen sold 1,460 shares of the business’s stock in a transaction dated 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 in the company, valued at approximately $4,006,454.91. The trade was a 5.88 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider David F. Hermance sold 6,243 shares of the business’s stock in a transaction dated 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 sale, the insider now owns 36,731 shares in the company, valued at $7,015,253.69. The trade was a 14.53 % decrease in their position. The disclosure for this sale can be found here. 0.61% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on AME. TD Cowen lowered shares of AMETEK from a “hold” rating to a “sell” rating in a report on Monday, October 7th. Redburn Atlantic raised shares of AMETEK to a “strong-buy” rating in a research report on Friday, August 2nd. Truist Financial raised their target price on shares of AMETEK from $219.00 to $221.00 and gave the stock a “buy” rating in a research report on Friday, November 1st. Mizuho lifted 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. Finally, Robert W. Baird raised their price objective on shares of AMETEK from $166.00 to $186.00 and gave the company a “neutral” rating in a research note on Monday, November 4th. One research analyst has rated the stock with a sell rating, three have given a hold rating, five have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $197.86.

AMETEK Stock Performance

Shares of AMETEK stock opened at $193.24 on Tuesday. The stock’s fifty day moving average price is $174.17 and its 200-day moving average price is $169.97. 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. The firm has a market cap of $44.70 billion, a P/E ratio of 33.67, a P/E/G ratio of 3.15 and a beta of 1.16.

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. The business had revenue of $1.71 billion during the quarter, compared to the consensus estimate of $1.71 billion. AMETEK had a net margin of 19.27% and a return on equity of 16.88%. The firm’s revenue was up 5.3% on a year-over-year basis. During the same period in the previous year, the company posted $1.64 earnings per share. On average, equities research analysts expect that AMETEK, Inc. will post 6.81 earnings per share for the current fiscal year.

AMETEK Announces Dividend

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

AMETEK Company 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.