AMETEK, Inc. (NYSE:AME) Shares Purchased by Principal Financial Group Inc.

Principal Financial Group Inc. grew its holdings in shares of AMETEK, Inc. (NYSE:AME) by 72.0% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 1,680,309 shares of the technology company’s stock after acquiring an additional 703,501 shares during the period. Principal Financial Group Inc. owned about 0.73% of AMETEK worth $288,526,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also modified their holdings of AME. Norden Group LLC purchased a new stake in AMETEK during the 1st quarter worth approximately $251,000. Duality Advisers LP acquired a new stake in AMETEK in the first quarter valued at $1,676,000. Empirical Finance LLC boosted its stake in AMETEK by 3.5% during the 1st quarter. Empirical Finance LLC now owns 8,300 shares of the technology company’s stock valued at $1,518,000 after acquiring an additional 281 shares during the last quarter. Envestnet Portfolio Solutions Inc. grew its holdings in AMETEK by 4.9% during the 1st quarter. Envestnet Portfolio Solutions Inc. now owns 14,588 shares of the technology company’s stock worth $2,668,000 after acquiring an additional 683 shares in the last quarter. Finally, Empowered Funds LLC increased its position in shares of AMETEK by 14.7% in the 1st quarter. Empowered Funds LLC now owns 9,064 shares of the technology company’s stock worth $1,658,000 after purchasing an additional 1,162 shares during the last quarter. 87.43% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at AMETEK

In other news, Director Steven W. Kohlhagen sold 1,460 shares of AMETEK stock in a transaction on Wednesday, September 25th. The stock was sold at an average price of $171.59, for a total transaction of $250,521.40. Following the transaction, the director now owns 23,349 shares in the company, valued at approximately $4,006,454.91. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Company insiders own 0.61% of the company’s stock.

AMETEK Trading Down 0.7 %

Shares of NYSE:AME opened at $188.95 on Friday. AMETEK, Inc. has a twelve month low of $146.52 and a twelve month high of $192.20. The company has a current ratio of 1.39, a quick ratio of 0.84 and a debt-to-equity ratio of 0.18. The firm has a market cap of $43.71 billion, a P/E ratio of 32.92, a P/E/G ratio of 2.94 and a beta of 1.16. The company has a 50 day moving average of $170.12 and a 200-day moving average of $169.06.

AMETEK (NYSE:AME) last issued its quarterly earnings results on Thursday, October 31st. The technology company reported $1.66 earnings per share for the quarter, topping analysts’ consensus estimates of $1.62 by $0.04. AMETEK had a return on equity of 16.88% and a net margin of 19.27%. The firm had revenue of $1.71 billion for the quarter, compared to analysts’ expectations of $1.71 billion. During the same quarter last year, the business posted $1.64 EPS. AMETEK’s revenue was up 5.3% on a year-over-year basis. As a group, analysts anticipate that AMETEK, Inc. will post 6.81 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several equities analysts have recently commented on the stock. Truist Financial increased their price target on shares of AMETEK from $219.00 to $221.00 and gave the stock a “buy” rating in a research report on Friday, November 1st. Royal Bank of Canada decreased their target price on AMETEK from $216.00 to $215.00 and set an “outperform” rating for the company in a research report on Friday, August 2nd. Robert W. Baird boosted their price target on AMETEK from $166.00 to $186.00 and gave the company a “neutral” rating in a report on Monday. Wolfe Research upgraded AMETEK to a “hold” rating in a research note on Wednesday, September 18th. Finally, TD Cowen lowered shares of AMETEK from a “hold” rating to a “sell” rating in a research note on Monday, October 7th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, AMETEK presently has an average rating of “Moderate Buy” and an average price target of $197.86.

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.