Blue Trust Inc. Lowers Stake in AMETEK, Inc. (NYSE:AME)

Blue Trust Inc. reduced its holdings in shares of AMETEK, Inc. (NYSE:AME) by 39.9% during the 4th quarter, according to its most recent 13F filing with the SEC. The fund owned 191 shares of the technology company’s stock after selling 127 shares during the period. Blue Trust Inc.’s holdings in AMETEK were worth $31,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently bought and sold shares of the business. SeaCrest Wealth Management LLC grew its position in AMETEK by 1.5% during the 3rd quarter. SeaCrest Wealth Management LLC now owns 5,660 shares of the technology company’s stock worth $836,000 after purchasing an additional 82 shares during the last quarter. CreativeOne Wealth LLC boosted its holdings in shares of AMETEK by 3.3% in the fourth quarter. CreativeOne Wealth LLC now owns 2,548 shares of the technology company’s stock valued at $356,000 after acquiring an additional 82 shares in the last quarter. Lincoln National Corp boosted its holdings in shares of AMETEK by 6.1% in the third quarter. Lincoln National Corp now owns 1,436 shares of the technology company’s stock valued at $212,000 after acquiring an additional 83 shares in the last quarter. B. Riley Wealth Advisors Inc. boosted its holdings in shares of AMETEK by 4.6% in the third quarter. B. Riley Wealth Advisors Inc. now owns 1,919 shares of the technology company’s stock valued at $284,000 after acquiring an additional 85 shares in the last quarter. Finally, Brinker Capital Investments LLC boosted its holdings in shares of AMETEK by 0.8% in the first quarter. Brinker Capital Investments LLC now owns 12,602 shares of the technology company’s stock valued at $1,679,000 after acquiring an additional 94 shares in the last quarter. 87.43% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at AMETEK

In related news, Director Thomas A. Amato sold 780 shares of the business’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 sale, the director now directly owns 10,240 shares in the company, valued at $1,863,680. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In other AMETEK news, VP Thomas M. Montgomery sold 6,891 shares of the business’s stock in a transaction that occurred on Thursday, March 21st. The shares were sold at an average price of $185.38, for a total transaction of $1,277,453.58. Following the completion of the sale, the vice president now directly owns 21,543 shares in the company, valued at $3,993,641.34. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Thomas A. Amato sold 780 shares of the business’s stock in a transaction that occurred on Tuesday, March 26th. The stock was sold at an average price of $182.00, for a total transaction of $141,960.00. Following the sale, the director now owns 10,240 shares of the company’s stock, valued at $1,863,680. The disclosure for this sale can be found here. Over the last three months, insiders sold 59,881 shares of company stock worth $10,689,758. 0.61% of the stock is owned by company insiders.

AMETEK Stock Performance

Shares of NYSE AME opened at $182.22 on Monday. AMETEK, Inc. has a 12 month low of $133.12 and a 12 month high of $186.32. The company has a 50-day simple moving average of $176.81 and a 200-day simple moving average of $162.46. The company has a market cap of $42.13 billion, a PE ratio of 32.14, a price-to-earnings-growth ratio of 2.91 and a beta of 1.22. The company has a debt-to-equity ratio of 0.22, a current ratio of 0.98 and a quick ratio of 0.59.

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, beating analysts’ consensus estimates of $1.62 by $0.06. AMETEK had a net margin of 19.91% and a return on equity of 17.96%. The firm had revenue of $1.73 billion during the quarter, compared to the consensus estimate of $1.73 billion. During the same period in the previous year, the firm earned $1.52 earnings per share. AMETEK’s revenue was up 6.1% compared to the same quarter last year. On average, equities analysts anticipate that AMETEK, Inc. will post 6.82 earnings per share for the current year.

AMETEK Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, March 28th. Investors of record on Friday, March 8th were issued a $0.28 dividend. This represents a $1.12 dividend on an annualized basis and a yield of 0.61%. This is an increase from AMETEK’s previous quarterly dividend of $0.25. The ex-dividend date of this dividend was Thursday, March 7th. AMETEK’s payout ratio is presently 19.75%.

Wall Street Analysts Forecast Growth

AME has been the topic of several analyst reports. StockNews.com downgraded shares of AMETEK from a “buy” rating to a “hold” rating in a report on Saturday, March 2nd. Truist Financial assumed coverage on shares of AMETEK in a report on Thursday, March 14th. They issued a “buy” rating and a $210.00 target price on the stock. 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. Finally, KeyCorp raised their price objective on shares of AMETEK from $182.00 to $205.00 and gave the company an “overweight” rating in a research note on Tuesday, February 27th. Three research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $180.78.

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.