Carret Asset Management LLC Sells 550 Shares of AMETEK, Inc. (NYSE:AME)

Carret Asset Management LLC trimmed its holdings in shares of AMETEK, Inc. (NYSE:AME) by 5.1% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 10,150 shares of the technology company’s stock after selling 550 shares during the quarter. Carret Asset Management LLC’s holdings in AMETEK were worth $1,856,000 as of its most recent filing with the SEC.

Other institutional investors have also recently bought and sold shares of the company. McGlone Suttner Wealth Management Inc. bought a new stake in shares of AMETEK in the fourth quarter valued at approximately $25,000. Wetzel Investment Advisors Inc. bought a new stake in AMETEK during the fourth quarter worth about $25,000. Turtle Creek Wealth Advisors LLC acquired a new stake in AMETEK during the fourth quarter worth about $26,000. Bruce G. Allen Investments LLC bought a new position in AMETEK in the 4th quarter valued at about $28,000. Finally, Rakuten Securities Inc. bought a new stake in shares of AMETEK during the 4th quarter worth approximately $31,000. Institutional investors own 87.43% of the company’s stock.

Insider Buying and Selling

In related news, Director Steven W. Kohlhagen sold 1,440 shares of the stock in a transaction on Wednesday, June 12th. The stock was sold at an average price of $173.93, for a total value of $250,459.20. Following the transaction, the director now directly owns 24,809 shares in the company, valued at approximately $4,315,029.37. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In other news, Director Steven W. Kohlhagen sold 1,470 shares of the firm’s stock in a transaction that occurred on Wednesday, May 15th. The stock was sold at an average price of $170.20, for a total value of $250,194.00. Following the transaction, the director now owns 26,249 shares in the company, valued at $4,467,579.80. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Steven W. Kohlhagen sold 1,440 shares of the company’s stock in a transaction on Wednesday, June 12th. The stock was sold at an average price of $173.93, for a total value of $250,459.20. Following the sale, the director now owns 24,809 shares of the company’s stock, valued at approximately $4,315,029.37. The disclosure for this sale can be found here. 0.61% of the stock is owned by company insiders.

AMETEK Trading Up 0.1 %

NYSE AME traded up $0.20 during trading hours on Wednesday, reaching $166.30. The company’s stock had a trading volume of 531,310 shares, compared to its average volume of 1,051,895. AMETEK, Inc. has a 52 week low of $136.89 and a 52 week high of $186.32. The company has a debt-to-equity ratio of 0.21, a current ratio of 1.11 and a quick ratio of 0.66. The stock has a market cap of $38.49 billion, a P/E ratio of 29.34, a P/E/G ratio of 2.67 and a beta of 1.18. The firm has a fifty day simple moving average of $170.09 and a 200-day simple moving average of $171.77.

AMETEK (NYSE:AME) last announced its earnings results on Thursday, May 2nd. The technology company reported $1.64 EPS for the quarter, beating the consensus estimate of $1.59 by $0.05. AMETEK had a return on equity of 17.74% and a net margin of 19.57%. The business had revenue of $1.74 billion for the quarter, compared to analysts’ expectations of $1.78 billion. During the same period in the prior year, the business posted $1.49 earnings per share. The firm’s revenue was up 9.0% on a year-over-year basis. Equities analysts forecast that AMETEK, Inc. will post 6.83 earnings per share for the current fiscal year.

AMETEK Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, June 28th. Investors of record on Friday, June 14th were given a $0.28 dividend. This represents a $1.12 dividend on an annualized basis and a yield of 0.67%. The ex-dividend date of this dividend was Friday, June 14th. AMETEK’s payout ratio is 19.68%.

Analyst Upgrades and Downgrades

Several brokerages have commented on AME. Truist Financial lowered their price objective on shares of AMETEK from $210.00 to $204.00 and set a “buy” rating for the company in a research report on Tuesday. Oppenheimer raised AMETEK from a “market perform” rating to an “outperform” rating and set a $200.00 price objective on the stock in a research note on Wednesday, May 22nd. StockNews.com cut AMETEK from a “buy” rating to a “hold” rating in a research report on Tuesday, June 18th. Finally, Robert W. Baird reduced their price target on shares of AMETEK from $173.00 to $171.00 and set a “neutral” rating on the stock in a research note on Monday, May 6th. Four research analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. Based on data from MarketBeat, AMETEK presently has an average rating of “Moderate Buy” and a consensus target price of $181.20.

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.