Central Pacific Bank Trust Division Takes Position in AMETEK, Inc. (NYSE:AME)

Central Pacific Bank Trust Division acquired a new position in shares of AMETEK, Inc. (NYSE:AME) during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 3,529 shares of the technology company’s stock, valued at approximately $637,000.

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

Analysts Set New Price Targets

A number of equities analysts recently weighed in on the company. Oppenheimer upgraded AMETEK from a “market perform” rating to an “outperform” rating and set a $200.00 price target for the company in a research report on Wednesday, May 22nd. Truist Financial lowered their price objective on AMETEK from $210.00 to $204.00 and set a “buy” rating on the stock in a report on Tuesday, July 2nd. Robert W. Baird cut their target price on shares of AMETEK from $173.00 to $171.00 and set a “neutral” rating for the company in a research report on Monday, May 6th. Finally, StockNews.com downgraded shares of AMETEK from a “buy” rating to a “hold” rating in a research note on Tuesday, June 18th. Four research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $181.20.

AMETEK Stock Performance

Shares of AME stock traded up $0.43 on Wednesday, reaching $164.56. The stock had a trading volume of 26,189 shares, compared to its average volume of 1,051,915. AMETEK, Inc. has a 12 month low of $136.89 and a 12 month high of $186.32. The company has a quick ratio of 0.66, a current ratio of 1.11 and a debt-to-equity ratio of 0.21. The firm has a market capitalization of $38.09 billion, a price-to-earnings ratio of 28.82, a P/E/G ratio of 2.64 and a beta of 1.18. The firm’s 50-day moving average is $168.91 and its two-hundred day moving average is $171.84.

AMETEK (NYSE:AME) last released its quarterly earnings results on Thursday, May 2nd. The technology company reported $1.64 earnings per share for the quarter, topping 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 during the quarter, compared to analysts’ expectations of $1.78 billion. During the same period last year, the firm posted $1.49 EPS. The firm’s revenue for the quarter was up 9.0% compared to the same quarter last year. On average, research analysts expect that AMETEK, Inc. will post 6.81 EPS for the current fiscal year.

AMETEK Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, June 28th. Stockholders of record on Friday, June 14th were issued a dividend of $0.28 per share. This represents a $1.12 annualized dividend and a dividend yield of 0.68%. The ex-dividend date of this dividend was Friday, June 14th. AMETEK’s dividend payout ratio (DPR) is currently 19.68%.

Insider Transactions at AMETEK

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

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.