Steward Partners Investment Advisory LLC Sells 211 Shares of AMETEK, Inc. (NYSE:AME)

Steward Partners Investment Advisory LLC reduced its stake in AMETEK, Inc. (NYSE:AMEGet Rating) by 40.5% during the 2nd quarter, HoldingsChannel reports. The fund owned 310 shares of the technology company’s stock after selling 211 shares during the quarter. Steward Partners Investment Advisory LLC’s holdings in AMETEK were worth $34,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. AIA Group Ltd lifted its position in AMETEK by 69.4% in the 1st quarter. AIA Group Ltd now owns 625 shares of the technology company’s stock valued at $83,000 after acquiring an additional 256 shares in the last quarter. Avantax Advisory Services Inc. bought a new stake in AMETEK during the 1st quarter worth about $225,000. South Dakota Investment Council bought a new stake in AMETEK during the 1st quarter worth about $93,000. Metis Global Partners LLC lifted its position in AMETEK by 81.3% during the 1st quarter. Metis Global Partners LLC now owns 3,660 shares of the technology company’s stock worth $487,000 after buying an additional 1,641 shares in the last quarter. Finally, Envestnet Asset Management Inc. lifted its position in AMETEK by 3.6% during the 2nd quarter. Envestnet Asset Management Inc. now owns 180,744 shares of the technology company’s stock worth $19,862,000 after buying an additional 6,278 shares in the last quarter. 85.46% of the stock is owned by institutional investors.

Insider Activity

In related news, Director Steven W. Kohlhagen sold 3,100 shares of the stock in a transaction that occurred on Thursday, September 8th. The stock was sold at an average price of $123.75, for a total transaction of $383,625.00. Following the sale, the director now owns 42,864 shares of the company’s stock, valued at $5,304,420. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.72% of the stock is owned by company insiders.

AMETEK Price Performance

Shares of NYSE AME opened at $138.85 on Monday. The firm has a market cap of $31.89 billion, a P/E ratio of 28.39, a price-to-earnings-growth ratio of 2.58 and a beta of 1.24. The business’s 50 day moving average is $122.06 and its 200-day moving average is $120.09. The company has a current ratio of 1.53, a quick ratio of 0.88 and a debt-to-equity ratio of 0.29. AMETEK, Inc. has a 1-year low of $106.17 and a 1-year high of $148.07.

AMETEK (NYSE:AMEGet Rating) last posted its quarterly earnings data on Tuesday, November 1st. The technology company reported $1.45 earnings per share for the quarter, topping the consensus estimate of $1.37 by $0.08. The firm had revenue of $1.55 billion for the quarter, compared to analysts’ expectations of $1.51 billion. AMETEK had a return on equity of 18.40% and a net margin of 18.81%. The company’s quarterly revenue was up 7.7% compared to the same quarter last year. During the same quarter last year, the business earned $1.26 EPS. Equities research analysts predict that AMETEK, Inc. will post 5.63 earnings per share for the current year.

AMETEK Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, December 23rd. Stockholders of record on Wednesday, December 7th will be issued a dividend of $0.22 per share. The ex-dividend date is Tuesday, December 6th. This represents a $0.88 annualized dividend and a dividend yield of 0.63%. AMETEK’s dividend payout ratio is presently 18.00%.

Wall Street Analysts Forecast Growth

Several brokerages have commented on AME. Loop Capital cut their price target on shares of AMETEK from $170.00 to $155.00 and set a “buy” rating on the stock in a research report on Tuesday, July 19th. Royal Bank of Canada boosted their price target on shares of AMETEK from $135.00 to $136.00 and gave the stock an “outperform” rating in a research report on Wednesday, November 2nd. StockNews.com lowered shares of AMETEK from a “buy” rating to a “hold” rating in a research note on Monday, November 7th. DA Davidson raised their target price on shares of AMETEK to $160.00 in a research note on Tuesday, August 9th. Finally, Morgan Stanley boosted their price target on AMETEK from $137.00 to $144.00 and gave the stock an “overweight” rating in a research report on Wednesday, November 2nd. Three analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $147.80.

AMETEK Profile

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AMETEK, Inc manufactures and sells electronic instruments and electromechanical devices worldwide. It operates in two segments, Electronic Instruments (EIG) and Electromechanical (EMG). 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; and instruments to the laboratory equipment, ultra-precision manufacturing, medical, and test and measurement markets.

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Institutional Ownership by Quarter for AMETEK (NYSE:AME)

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