Zurcher Kantonalbank Zurich Cantonalbank Sells 509 Shares of AMETEK, Inc. (NYSE:AME)

Zurcher Kantonalbank Zurich Cantonalbank lowered its position in AMETEK, Inc. (NYSE:AME) by 0.8% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 66,141 shares of the technology company’s stock after selling 509 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in AMETEK were worth $10,906,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently bought and sold shares of AME. McGlone Suttner Wealth Management Inc. purchased a new position in AMETEK during the fourth quarter valued at $25,000. Turtle Creek Wealth Advisors LLC purchased a new position in AMETEK during the fourth quarter valued at $26,000. Bruce G. Allen Investments LLC purchased a new position in AMETEK during the fourth quarter valued at $28,000. Covestor Ltd lifted its position in AMETEK by 84.3% during the first quarter. Covestor Ltd now owns 212 shares of the technology company’s stock valued at $28,000 after purchasing an additional 97 shares in the last quarter. Finally, Resurgent Financial Advisors LLC purchased a new position in AMETEK during the fourth quarter valued at $28,000. 87.43% of the stock is currently owned by hedge funds and other institutional investors.

AMETEK Trading Up 0.3 %

Shares of NYSE AME opened at $177.77 on Friday. The business’s 50 day moving average is $179.45 and its two-hundred day moving average is $164.34. 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, Inc. has a 1-year low of $133.12 and a 1-year high of $186.32. The stock has a market capitalization of $41.10 billion, a P/E ratio of 31.35, a PEG ratio of 2.84 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 for the quarter, topping the consensus estimate of $1.62 by $0.06. AMETEK had a return on equity of 17.96% and a net margin of 19.91%. The company had revenue of $1.73 billion for the quarter, compared to analysts’ expectations of $1.73 billion. During the same period in the previous year, the firm posted $1.52 earnings per share. The firm’s revenue for the quarter was up 6.1% on a year-over-year basis. As a group, research analysts expect that AMETEK, Inc. will post 6.82 EPS for the current year.

AMETEK Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, March 28th. Stockholders of record on Friday, March 8th were paid a dividend of $0.28 per share. This is a boost from AMETEK’s previous quarterly dividend of $0.25. The ex-dividend date of this dividend was Thursday, March 7th. This represents a $1.12 dividend on an annualized basis and a dividend yield of 0.63%. AMETEK’s dividend payout ratio is currently 19.75%.

Analysts Set New Price Targets

AME has been the topic of several analyst reports. StockNews.com downgraded AMETEK from a “buy” rating to a “hold” rating in a research report on Saturday, March 2nd. Truist Financial initiated coverage on AMETEK in a research report on Thursday, March 14th. They issued a “buy” rating and a $210.00 price objective on the stock. KeyCorp boosted their price objective on AMETEK from $182.00 to $205.00 and gave the company an “overweight” rating in a research report on Tuesday, February 27th. Finally, Royal Bank of Canada decreased their target price on AMETEK from $192.00 to $188.00 and set an “outperform” rating on the stock in a research report on Wednesday, February 7th. Three investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to MarketBeat, AMETEK presently has a consensus rating of “Moderate Buy” and an average price target of $180.78.

Insider Activity

In other news, VP Thomas M. Montgomery sold 6,891 shares of the company’s stock in a transaction that occurred on Thursday, March 21st. The stock was sold at an average price of $185.38, for a total transaction of $1,277,453.58. Following the transaction, the vice president now owns 21,543 shares of the company’s stock, valued at $3,993,641.34. The transaction was disclosed in a legal filing with the SEC, which is available at this link. In other news, VP Thomas M. Montgomery sold 6,891 shares of the company’s stock in a transaction that occurred on Thursday, March 21st. The stock was sold at an average price of $185.38, for a total transaction of $1,277,453.58. Following the transaction, the vice president now owns 21,543 shares of the company’s stock, valued at $3,993,641.34. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, 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 transaction, the director now directly owns 10,240 shares in the company, valued at approximately $1,863,680. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 59,881 shares of company stock valued at $10,689,758. 0.61% of the stock is currently owned by insiders.

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.