Victory Capital Management Inc. Trims Holdings in AMETEK, Inc. (NYSE:AME)

Victory Capital Management Inc. decreased its holdings in AMETEK, Inc. (NYSE:AME) by 3.2% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 154,973 shares of the technology company’s stock after selling 5,155 shares during the period. Victory Capital Management Inc. owned about 0.07% of AMETEK worth $25,553,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also bought and sold shares of AME. Morgan Stanley boosted its holdings in shares of AMETEK by 19.2% in the third quarter. Morgan Stanley now owns 4,189,108 shares of the technology company’s stock valued at $618,983,000 after purchasing an additional 674,549 shares during the period. Bank Julius Baer & Co. Ltd Zurich lifted its holdings in shares of AMETEK by 4,845.8% in the 4th quarter. Bank Julius Baer & Co. Ltd Zurich now owns 677,075 shares of the technology company’s stock worth $111,643,000 after buying an additional 663,385 shares during the period. Qube Research & Technologies Ltd bought a new position in shares of AMETEK during the 3rd quarter worth $90,248,000. Adage Capital Partners GP L.L.C. increased its stake in shares of AMETEK by 84.9% during the third quarter. Adage Capital Partners GP L.L.C. now owns 1,081,557 shares of the technology company’s stock valued at $159,811,000 after buying an additional 496,523 shares during the period. Finally, The Manufacturers Life Insurance Company raised its holdings in shares of AMETEK by 52.9% in the third quarter. The Manufacturers Life Insurance Company now owns 1,032,796 shares of the technology company’s stock valued at $152,606,000 after acquiring an additional 357,212 shares in the last quarter. Hedge funds and other institutional investors own 87.43% of the company’s stock.

Insider Activity at AMETEK

In other AMETEK news, CFO William Joseph Burke sold 17,437 shares of AMETEK stock in a transaction that occurred on Wednesday, February 14th. The shares were sold at an average price of $168.51, for a total transaction of $2,938,308.87. Following the completion of the sale, the chief financial officer now directly owns 101,709 shares in the company, valued at approximately $17,138,983.59. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In related news, VP Thomas M. Montgomery sold 6,891 shares of AMETEK 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 completion of the transaction, the vice president now directly owns 21,543 shares in the company, valued at $3,993,641.34. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CFO William Joseph Burke sold 17,437 shares of the company’s stock in a transaction that occurred on Wednesday, February 14th. The stock was sold at an average price of $168.51, for a total value of $2,938,308.87. Following the completion of the sale, the chief financial officer now owns 101,709 shares in the company, valued at approximately $17,138,983.59. The disclosure for this sale can be found here. Insiders have sold a total of 59,881 shares of company stock worth $10,689,758 over the last quarter. Insiders own 0.61% of the company’s stock.

Wall Street Analyst Weigh In

AME has been the subject of several recent research reports. StockNews.com lowered shares of AMETEK from a “buy” rating to a “hold” rating in a report on Saturday, March 2nd. Truist Financial assumed coverage on AMETEK in a report on Thursday, March 14th. They issued a “buy” rating and a $210.00 price target on the stock. KeyCorp upped their price objective on AMETEK from $182.00 to $205.00 and gave the stock an “overweight” rating in a research note on Tuesday, February 27th. Robert W. Baird reduced their target price on shares of AMETEK from $173.00 to $171.00 and set a “neutral” rating for the company in a report on Monday. Finally, Royal Bank of Canada lowered their price target on shares of AMETEK from $192.00 to $188.00 and set an “outperform” rating on the stock in a report on Wednesday, February 7th. Four research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $179.80.

AMETEK Stock Down 0.3 %

NYSE:AME opened at $169.14 on Thursday. The company has a current ratio of 1.11, a quick ratio of 0.66 and a debt-to-equity ratio of 0.21. AMETEK, Inc. has a twelve month low of $136.89 and a twelve month high of $186.32. The company has a market cap of $39.15 billion, a PE ratio of 29.73, a P/E/G ratio of 2.66 and a beta of 1.21. The company’s 50 day moving average is $179.26 and its two-hundred day moving average is $166.69.

AMETEK (NYSE:AME) last announced its quarterly earnings data on Thursday, May 2nd. The technology company reported $1.64 earnings per share for the quarter, beating analysts’ consensus estimates of $1.59 by $0.05. The firm 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 business’s quarterly revenue was up 9.0% compared to the same quarter last year. During the same period in the previous year, the company earned $1.49 earnings per share. 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. Investors of record on Friday, March 8th were issued a dividend of $0.28 per share. This is an increase 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 0.66%. AMETEK’s payout ratio is 19.68%.

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.