AMETEK, Inc. (NYSE:AME) Shares Sold by Mutual of America Capital Management LLC

Mutual of America Capital Management LLC reduced its stake in AMETEK, Inc. (NYSE:AME) by 4.3% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 30,968 shares of the technology company’s stock after selling 1,400 shares during the period. Mutual of America Capital Management LLC’s holdings in AMETEK were worth $5,106,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. McGlone Suttner Wealth Management Inc. acquired a new stake in shares of AMETEK in the fourth quarter valued at $25,000. Turtle Creek Wealth Advisors LLC acquired a new stake in shares of AMETEK in the fourth quarter valued at $26,000. Bruce G. Allen Investments LLC acquired a new stake in shares of AMETEK in the fourth quarter valued at $28,000. Resurgent Financial Advisors LLC acquired a new stake in shares of AMETEK in the fourth quarter valued at $28,000. Finally, Covestor Ltd raised its stake in shares of AMETEK by 84.3% in the first quarter. Covestor Ltd now owns 212 shares of the technology company’s stock valued at $28,000 after acquiring an additional 97 shares in the last quarter. 87.43% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of analysts have weighed in on the company. KeyCorp raised their price target on AMETEK from $182.00 to $205.00 and gave the company an “overweight” rating in a research note on Tuesday, February 27th. Truist Financial initiated coverage on AMETEK in a report on Thursday, March 14th. They set a “buy” rating and a $210.00 price objective on the stock. StockNews.com lowered AMETEK from a “buy” rating to a “hold” rating in a report on Saturday, March 2nd. Finally, Royal Bank of Canada lowered their price target on AMETEK from $192.00 to $188.00 and set an “outperform” rating on the stock in a report on Wednesday, February 7th. Three analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $180.78.

AMETEK Price Performance

Shares of AME opened at $179.71 on Monday. The firm has a market capitalization of $41.55 billion, a PE ratio of 31.69, a P/E/G ratio of 2.87 and a beta of 1.22. The stock’s 50 day moving average is $178.31 and its two-hundred day moving average is $163.51. AMETEK, Inc. has a twelve month low of $133.12 and a twelve month high of $186.32. The company has a current ratio of 0.98, a quick ratio of 0.59 and a debt-to-equity ratio of 0.22.

AMETEK (NYSE:AME) last released its quarterly earnings data on Tuesday, February 6th. The technology company reported $1.68 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.62 by $0.06. The firm had revenue of $1.73 billion during the quarter, compared to analysts’ expectations of $1.73 billion. AMETEK had a return on equity of 17.96% and a net margin of 19.91%. AMETEK’s revenue was up 6.1% compared to the same quarter last year. During the same quarter in the prior year, the business posted $1.52 earnings per share. Research analysts anticipate that AMETEK, Inc. will post 6.82 earnings per share for the current year.

AMETEK Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, March 28th. Shareholders of record on Friday, March 8th were given a dividend of $0.28 per share. This is a positive change from AMETEK’s previous quarterly dividend of $0.25. This represents a $1.12 annualized dividend and a yield of 0.62%. The ex-dividend date of this dividend was Thursday, March 7th. AMETEK’s dividend payout ratio is presently 19.75%.

Insider Buying and Selling at AMETEK

In other news, CFO William Joseph Burke sold 17,437 shares of the business’s stock in a transaction that occurred on Wednesday, February 14th. The stock was sold at an average price of $168.51, for a total transaction of $2,938,308.87. Following the sale, the chief financial officer now owns 101,709 shares of the company’s stock, valued at approximately $17,138,983.59. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other AMETEK news, Director Thomas A. Amato sold 780 shares of AMETEK stock in a transaction dated Tuesday, March 26th. The shares were sold at an average price of $182.00, for a total transaction of $141,960.00. Following the completion of the transaction, the director now owns 10,240 shares in the company, valued at $1,863,680. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CFO William Joseph Burke sold 17,437 shares of the stock in a transaction that occurred on Wednesday, February 14th. The shares were sold at an average price of $168.51, for a total transaction of $2,938,308.87. Following the completion of the sale, the chief financial officer now owns 101,709 shares in the company, valued at $17,138,983.59. The disclosure for this sale can be found here. Over the last three months, insiders sold 59,881 shares of company stock valued at $10,689,758. Corporate insiders own 0.61% of the company’s stock.

AMETEK Company 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.