UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC Has $241.28 Million Stock Position in AMETEK, Inc. (NYSE:AME)

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC decreased its position in shares of AMETEK, Inc. (NYSE:AME) by 14.9% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,405,134 shares of the technology company’s stock after selling 246,047 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC owned 0.61% of AMETEK worth $241,276,000 at the end of the most recent quarter.

Other hedge funds also recently bought and sold shares of the company. Bank of New York Mellon Corp boosted its stake in AMETEK by 34.6% during the 2nd quarter. Bank of New York Mellon Corp now owns 3,602,753 shares of the technology company’s stock valued at $600,615,000 after purchasing an additional 926,657 shares during the period. Meridiem Investment Management Ltd. acquired a new position in shares of AMETEK during the third quarter worth approximately $130,579,000. Principal Financial Group Inc. boosted its position in shares of AMETEK by 72.0% in the third quarter. Principal Financial Group Inc. now owns 1,680,309 shares of the technology company’s stock valued at $288,526,000 after acquiring an additional 703,501 shares during the period. James Hambro & Partners LLP bought a new position in AMETEK during the third quarter worth $60,188,000. Finally, Ceredex Value Advisors LLC acquired a new position in AMETEK during the 3rd quarter valued at $40,811,000. 87.43% of the stock is currently owned by institutional investors.

Insider Activity

In other news, insider Tony J. Ciampitti sold 16,210 shares of the company’s stock in a transaction on Friday, November 22nd. The stock was sold at an average price of $197.01, for a total transaction of $3,193,532.10. Following the transaction, the insider now owns 49,490 shares of the company’s stock, valued at $9,750,024.90. This represents a 24.67 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Steven W. Kohlhagen sold 1,460 shares of AMETEK stock in a transaction dated Wednesday, September 25th. The stock was sold at an average price of $171.59, for a total value of $250,521.40. Following the completion of the sale, the director now owns 23,349 shares of the company’s stock, valued at approximately $4,006,454.91. The trade was a 5.88 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 30,660 shares of company stock worth $5,958,141. 0.61% of the stock is owned by corporate insiders.

AMETEK Trading Down 0.4 %

Shares of AMETEK stock opened at $194.41 on Friday. AMETEK, Inc. has a 12-month low of $149.03 and a 12-month high of $198.33. The stock has a market capitalization of $44.97 billion, a P/E ratio of 33.87, a price-to-earnings-growth ratio of 3.18 and a beta of 1.16. The company has a 50-day simple moving average of $179.05 and a 200 day simple moving average of $171.60. The company has a quick ratio of 0.84, a current ratio of 1.39 and a debt-to-equity ratio of 0.18.

AMETEK (NYSE:AME) last posted its quarterly earnings data on Thursday, October 31st. The technology company reported $1.66 earnings per share for the quarter, topping the consensus estimate of $1.62 by $0.04. The company had revenue of $1.71 billion during the quarter, compared to analyst estimates of $1.71 billion. AMETEK had a net margin of 19.27% and a return on equity of 16.88%. The company’s revenue was up 5.3% on a year-over-year basis. During the same quarter last year, the business posted $1.64 earnings per share. Research analysts expect that AMETEK, Inc. will post 6.8 earnings per share for the current fiscal year.

AMETEK Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, December 20th. Stockholders of record on Friday, December 6th will be issued a dividend of $0.28 per share. This represents a $1.12 annualized dividend and a dividend yield of 0.58%. The ex-dividend date of this dividend is Friday, December 6th. AMETEK’s payout ratio is presently 19.51%.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on AME shares. StockNews.com downgraded shares of AMETEK from a “buy” rating to a “hold” rating in a report on Friday, November 15th. Truist Financial raised their price objective on AMETEK from $219.00 to $221.00 and gave the stock a “buy” rating in a research report on Friday, November 1st. Redburn Atlantic upgraded AMETEK to a “strong-buy” rating in a research report on Friday, August 2nd. Robert W. Baird raised their target price on AMETEK from $166.00 to $186.00 and gave the stock a “neutral” rating in a research report on Monday, November 4th. Finally, KeyCorp increased their price objective on shares of AMETEK from $205.00 to $215.00 and gave the company an “overweight” rating in a research note on Friday, November 22nd. One research analyst has rated the stock with a sell rating, three have given a hold rating, five have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, AMETEK has an average rating of “Moderate Buy” and an average target price of $199.29.

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.