AMETEK, Inc. (NYSE:AME) Shares Sold by Victory Capital Management Inc.

Victory Capital Management Inc. lowered its holdings in AMETEK, Inc. (NYSE:AME) by 3.2% during the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 154,973 shares of the technology company’s stock after selling 5,155 shares during the quarter. Victory Capital Management Inc.’s holdings in AMETEK were worth $25,553,000 at the end of the most recent reporting period.

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

AMETEK Stock Performance

Shares of AME stock opened at $169.14 on Thursday. The company has a current ratio of 1.11, a quick ratio of 0.66 and a debt-to-equity ratio of 0.21. The stock has a 50 day simple moving average of $179.26 and a 200-day simple moving average of $166.69. The company has a market cap of $39.15 billion, a price-to-earnings ratio of 29.73, a price-to-earnings-growth ratio of 2.66 and a beta of 1.21. AMETEK, Inc. has a 12-month low of $136.89 and a 12-month high of $186.32.

AMETEK (NYSE:AME) last released its quarterly earnings data on Thursday, May 2nd. The technology company reported $1.64 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.59 by $0.05. The firm had revenue of $1.74 billion during the quarter, compared to analysts’ expectations of $1.78 billion. AMETEK had a return on equity of 17.74% and a net margin of 19.57%. AMETEK’s revenue was up 9.0% compared to the same quarter last year. During the same quarter in the prior year, the business posted $1.49 earnings per share. On average, equities analysts forecast that AMETEK, Inc. will post 6.81 EPS for the current year.

AMETEK Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, March 28th. Investors of record on Friday, March 8th were issued a dividend of $0.28 per share. The ex-dividend date was Thursday, March 7th. This represents a $1.12 dividend on an annualized basis and a yield of 0.66%. This is an increase from AMETEK’s previous quarterly dividend of $0.25. AMETEK’s payout ratio is currently 19.68%.

Insiders Place Their Bets

In other news, CFO William Joseph Burke sold 17,437 shares of AMETEK 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 directly owns 101,709 shares in the company, valued at approximately $17,138,983.59. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. In related news, Director Steven W. Kohlhagen sold 1,400 shares of the stock in a transaction dated Tuesday, March 12th. The shares were sold at an average price of $180.59, for a total value of $252,826.00. Following the sale, the director now directly owns 28,054 shares of the company’s stock, valued at approximately $5,066,271.86. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CFO William Joseph Burke sold 17,437 shares of AMETEK stock in a transaction dated 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 transaction, the chief financial officer now owns 101,709 shares of the company’s stock, valued at approximately $17,138,983.59. The disclosure for this sale can be found here. Over the last three months, insiders have sold 59,881 shares of company stock worth $10,689,758. 0.61% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

Several analysts recently commented on the stock. Truist Financial assumed coverage on shares of AMETEK in a research report on Thursday, March 14th. They issued a “buy” rating and a $210.00 price target for the company. KeyCorp upped their target price on shares of AMETEK from $182.00 to $205.00 and gave the company an “overweight” rating in a report on Tuesday, February 27th. StockNews.com cut AMETEK from a “buy” rating to a “hold” rating in a research report on Saturday, March 2nd. Royal Bank of Canada decreased their price objective on AMETEK from $192.00 to $188.00 and set an “outperform” rating for the company in a research report on Wednesday, February 7th. Finally, Robert W. Baird dropped their target price on AMETEK from $173.00 to $171.00 and set a “neutral” rating on the stock in a report on Monday. Four equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. According to MarketBeat.com, AMETEK currently has an average rating of “Moderate Buy” and a consensus target price of $179.80.

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.