AMETEK, Inc. $AME Holdings Trimmed by Sumitomo Mitsui Trust Group Inc.

Sumitomo Mitsui Trust Group Inc. lowered its position in shares of AMETEK, Inc. (NYSE:AME) by 2.4% in the third quarter, HoldingsChannel reports. The fund owned 487,179 shares of the technology company’s stock after selling 12,131 shares during the period. Sumitomo Mitsui Trust Group Inc.’s holdings in AMETEK were worth $120,689,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in the stock. QRG Capital Management Inc. lifted its holdings in AMETEK by 1,002.4% during the second quarter. QRG Capital Management Inc. now owns 132,612 shares of the technology company’s stock worth $32,084,000 after acquiring an additional 120,583 shares in the last quarter. National Pension Service raised its holdings in shares of AMETEK by 1.6% in the 2nd quarter. National Pension Service now owns 338,990 shares of the technology company’s stock valued at $82,015,000 after purchasing an additional 5,382 shares during the period. Fifth Third Bancorp raised its stake in AMETEK by 1,060.3% in the 1st quarter. Fifth Third Bancorp now owns 82,948 shares of the technology company’s stock valued at $17,781,000 after acquiring an additional 75,799 shares during the period. Groupe la Francaise lifted its position in AMETEK by 15.6% during the second quarter. Groupe la Francaise now owns 154,326 shares of the technology company’s stock worth $37,361,000 after acquiring an additional 20,780 shares during the last quarter. Finally, MassMutual Private Wealth & Trust FSB lifted its holdings in shares of AMETEK by 450.1% during the third quarter. MassMutual Private Wealth & Trust FSB now owns 6,612 shares of the technology company’s stock worth $1,638,000 after buying an additional 5,410 shares in the last quarter. Institutional investors and hedge funds own 87.43% of the company’s stock.

Insiders Place Their Bets

In related news, insider David Hermance sold 6,608 shares of the stock in a transaction dated Friday, August 7th. The stock was sold at an average price of $254.00, for a total transaction of $1,678,432.00. Following the completion of the sale, the insider directly owned 42,509 shares in the company, valued at $10,797,286. This represents a 13.45% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. 0.54% of the stock is owned by corporate insiders.

AMETEK Trading Up 0.4%

Shares of AME opened at $242.12 on Tuesday. The company has a quick ratio of 0.76, a current ratio of 1.21 and a debt-to-equity ratio of 0.09. AMETEK, Inc. has a twelve month low of $188.47 and a twelve month high of $261.16. The stock has a market cap of $55.49 billion, a PE ratio of 31.17, a P/E/G ratio of 2.35 and a beta of 0.96. The business’s 50-day moving average price is $243.59 and its 200-day moving average price is $234.20.

AMETEK (NYSE:AME) last posted its quarterly earnings data on Tuesday, August 4th. The technology company reported $2.09 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.99 by $0.10. The company had revenue of $2.04 billion during the quarter, compared to analyst estimates of $1.95 billion. AMETEK had a return on equity of 16.93% and a net margin of 20.04%. The firm’s quarterly revenue was up 15.0% on a year-over-year basis. During the same quarter last year, the company earned $1.78 earnings per share. On average, equities analysts forecast that AMETEK, Inc. will post 8.41 EPS for the current fiscal year.

AMETEK Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, September 30th. Stockholders of record on Tuesday, September 15th were issued a $0.34 dividend. This represents a $1.36 dividend on an annualized basis and a dividend yield of 0.6%. The ex-dividend date was Tuesday, September 15th. AMETEK’s payout ratio is presently 19.88%.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on AME shares. Zacks Research raised shares of AMETEK from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, October 6th. Citigroup lifted their target price on shares of AMETEK from $261.00 to $263.00 and gave the stock a “neutral” rating in a research note on Monday, October 12th. Mizuho increased their price objective on shares of AMETEK from $270.00 to $285.00 and gave the stock an “outperform” rating in a research report on Wednesday, August 5th. Seaport Research Partners lifted their price target on AMETEK from $290.00 to $300.00 and gave the company a “buy” rating in a research note on Wednesday, September 2nd. Finally, KeyCorp upped their target price on AMETEK from $260.00 to $295.00 and gave the company an “overweight” rating in a report on Wednesday, August 5th. One research analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating and five have issued a Hold rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $277.19.

About AMETEK

AMETEK, Inc is a global manufacturer of industrial technology solutions. The company develops and produces advanced analytical, monitoring, testing, and measurement instruments, as well as engineered electromechanical products used in industrial, aerospace, defense, energy, medical, and other specialized markets.

AMETEK operates through two primary business groups: Electronic Instruments and Electromechanical. Its products include process and power monitoring systems, analytical instruments, automation and control technologies, aerospace and defense equipment, precision motion-control systems, motors, thermal-management solutions, engineered materials, and specialty metal products.

The company traces its roots to 1930 and has expanded through the development and acquisition of specialized technology businesses.