Unigestion Holding SA Cuts Position in AMETEK, Inc. (NYSE:AME)

Unigestion Holding SA trimmed its holdings in shares of AMETEK, Inc. (NYSE:AME) by 10.9% in the 3rd quarter, according to its most recent disclosure with the SEC. The fund owned 6,773 shares of the technology company’s stock after selling 830 shares during the period. Unigestion Holding SA’s holdings in AMETEK were worth $1,163,000 as of its most recent SEC filing.

A number of other hedge funds have also recently made changes to their positions in the stock. Bank of New York Mellon Corp boosted its holdings in AMETEK by 34.6% in the second quarter. Bank of New York Mellon Corp now owns 3,602,753 shares of the technology company’s stock worth $600,615,000 after acquiring an additional 926,657 shares in the last quarter. EdgePoint Investment Group Inc. boosted its stake in AMETEK by 87.9% in the 3rd quarter. EdgePoint Investment Group Inc. now owns 1,964,236 shares of the technology company’s stock worth $337,279,000 after purchasing an additional 918,737 shares in the last quarter. Meridiem Investment Management Ltd. bought a new position in AMETEK in the 3rd quarter worth about $130,579,000. Principal Financial Group Inc. grew its position in AMETEK by 72.0% during the 3rd quarter. Principal Financial Group Inc. now owns 1,680,309 shares of the technology company’s stock valued at $288,526,000 after purchasing an additional 703,501 shares during the last quarter. Finally, D1 Capital Partners L.P. purchased a new position in AMETEK in the third quarter worth about $79,782,000. 87.43% of the stock is owned by institutional investors.

AMETEK Stock Performance

Shares of AME opened at $188.63 on Wednesday. The business has a 50-day simple moving average of $181.68 and a two-hundred day simple moving average of $172.62. 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, Inc. has a 52 week low of $149.03 and a 52 week high of $198.33. The stock has a market cap of $43.63 billion, a price-to-earnings ratio of 32.86, a PEG ratio of 3.13 and a beta of 1.15.

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

AMETEK Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, December 20th. Investors of record on Friday, December 6th will be issued a $0.28 dividend. This represents a $1.12 annualized dividend and a yield of 0.59%. The ex-dividend date is Friday, December 6th. AMETEK’s dividend payout ratio is currently 19.51%.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently commented on AME shares. Truist Financial increased their price target on shares of AMETEK from $219.00 to $221.00 and gave the company a “buy” rating in a report on Friday, November 1st. TD Cowen lowered AMETEK from a “hold” rating to a “sell” rating in a report on Monday, October 7th. KeyCorp upped their price target on AMETEK from $205.00 to $215.00 and gave the company an “overweight” rating in a report on Friday, November 22nd. Wolfe Research upgraded shares of AMETEK to a “hold” rating in a report on Wednesday, September 18th. Finally, StockNews.com upgraded AMETEK from a “hold” rating to a “buy” rating in a research report on Wednesday, December 4th. One analyst has rated the stock with a sell rating, two have assigned a hold rating, six have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, AMETEK has a consensus rating of “Moderate Buy” and an average price target of $199.29.

Insiders Place Their Bets

In other AMETEK news, insider David F. Hermance sold 6,243 shares of the company’s stock in a transaction that occurred on Friday, November 8th. The stock was sold at an average price of $190.99, for a total value of $1,192,350.57. Following the completion of the transaction, the insider now directly owns 36,731 shares in the company, valued at $7,015,253.69. This represents a 14.53 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Emanuela Speranza sold 6,747 shares of AMETEK stock in a transaction that occurred on Tuesday, November 26th. The shares were sold at an average price of $195.90, for a total transaction of $1,321,737.30. Following the sale, the insider now owns 30,460 shares in the company, valued at approximately $5,967,114. The trade was a 18.13 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 30,660 shares of company stock worth $5,958,141. Corporate insiders own 0.61% of the company’s stock.

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.