Federated Hermes Inc. Decreases Stake in AMETEK, Inc. (NYSE:AME)

Federated Hermes Inc. lessened its position in shares of AMETEK, Inc. (NYSE:AME) by 16.9% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,077 shares of the technology company’s stock after selling 219 shares during the quarter. Federated Hermes Inc.’s holdings in AMETEK were worth $178,000 as of its most recent SEC filing.

Other hedge funds have also modified their holdings of the company. McGlone Suttner Wealth Management Inc. bought a new stake in AMETEK in the fourth quarter worth $25,000. Turtle Creek Wealth Advisors LLC purchased a new position in shares of AMETEK in the 4th quarter worth $26,000. Bruce G. Allen Investments LLC bought a new stake in shares of AMETEK in the 4th quarter worth about $28,000. Rakuten Securities Inc. purchased a new stake in shares of AMETEK during the 4th quarter valued at about $31,000. Finally, Arlington Trust Co LLC bought a new position in shares of AMETEK in the 4th quarter valued at about $42,000. 87.43% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several brokerages have weighed in on AME. Truist Financial started coverage on AMETEK in a research note on Thursday, March 14th. They set a “buy” rating and a $210.00 price objective on the stock. Royal Bank of Canada lowered their price target on AMETEK from $192.00 to $188.00 and set an “outperform” rating for the company in a research report on Wednesday, February 7th. StockNews.com cut shares of AMETEK from a “buy” rating to a “hold” rating in a research report on Saturday, March 2nd. Finally, KeyCorp raised their target price on shares of AMETEK from $182.00 to $205.00 and gave the stock an “overweight” rating in a report on Tuesday, February 27th. Three equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat.com, AMETEK currently has a consensus rating of “Moderate Buy” and an average price target of $180.78.

AMETEK Trading Up 2.0 %

AME stock opened at $166.56 on Monday. The company has a market capitalization of $38.51 billion, a PE ratio of 29.27, a P/E/G ratio of 2.66 and a beta of 1.21. The company has a debt-to-equity ratio of 0.21, a current ratio of 1.11 and a quick ratio of 0.59. AMETEK, Inc. has a 12 month low of $136.89 and a 12 month high of $186.32. The firm’s 50-day moving average is $179.64 and its 200 day moving average is $166.32.

AMETEK (NYSE:AME) last issued its earnings results on Thursday, May 2nd. The technology company reported $1.64 EPS for the quarter, topping analysts’ consensus estimates of $1.59 by $0.05. The business had revenue of $1.74 billion for the quarter, compared to analyst estimates of $1.78 billion. AMETEK had a net margin of 19.57% and a return on equity of 17.74%. The company’s quarterly revenue was up 9.0% compared to the same quarter last year. During the same period last year, the company posted $1.49 earnings per share. On average, research analysts anticipate that AMETEK, Inc. will post 6.81 EPS for the current year.

AMETEK Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, March 28th. Shareholders of record on Friday, March 8th were issued a $0.28 dividend. This represents a $1.12 annualized dividend and a dividend yield of 0.67%. This is a boost from AMETEK’s previous quarterly dividend of $0.25. The ex-dividend date was Thursday, March 7th. AMETEK’s dividend payout ratio is currently 19.68%.

Insider Transactions at AMETEK

In related news, Director Thomas A. Amato sold 780 shares of AMETEK stock in a transaction dated Tuesday, March 26th. The stock was 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 filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 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 transaction, the director now owns 10,240 shares of the company’s stock, valued at $1,863,680. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, CFO William Joseph Burke sold 5,973 shares of the company’s stock in a transaction on Monday, February 12th. The stock was sold at an average price of $168.90, for a total value of $1,008,839.70. Following the sale, the chief financial officer now owns 101,709 shares of the company’s stock, valued at approximately $17,178,650.10. The disclosure for this sale can be found here. In 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 corporate insiders.

AMETEK 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.