Sequoia Financial Advisors LLC Reduces Stock Position in AMETEK, Inc. (NYSE:AME)

Sequoia Financial Advisors LLC trimmed its holdings in shares of AMETEK, Inc. (NYSE:AMEFree Report) by 16.9% in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 4,855 shares of the technology company’s stock after selling 987 shares during the period. Sequoia Financial Advisors LLC’s holdings in AMETEK were worth $888,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also made changes to their positions in the company. Federated Hermes Inc. boosted its holdings in AMETEK by 21.1% in the third quarter. Federated Hermes Inc. now owns 1,296 shares of the technology company’s stock valued at $191,000 after purchasing an additional 226 shares in the last quarter. Lido Advisors LLC boosted its holdings in shares of AMETEK by 11.4% in the 3rd quarter. Lido Advisors LLC now owns 6,215 shares of the technology company’s stock valued at $918,000 after buying an additional 636 shares in the last quarter. Seven Eight Capital LP grew its position in shares of AMETEK by 7.1% in the 3rd quarter. Seven Eight Capital LP now owns 3,708 shares of the technology company’s stock valued at $548,000 after buying an additional 245 shares during the last quarter. Sei Investments Co. raised its stake in AMETEK by 0.9% during the 3rd quarter. Sei Investments Co. now owns 182,434 shares of the technology company’s stock worth $26,956,000 after acquiring an additional 1,631 shares in the last quarter. Finally, Toroso Investments LLC raised its stake in AMETEK by 44.0% during the 3rd quarter. Toroso Investments LLC now owns 5,793 shares of the technology company’s stock worth $856,000 after acquiring an additional 1,769 shares in the last quarter. 87.43% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities analysts have issued reports on AME shares. StockNews.com lowered AMETEK from a “buy” rating to a “hold” rating in a report on Tuesday, June 18th. Oppenheimer upgraded AMETEK from a “market perform” rating to an “outperform” rating and set a $200.00 price target on the stock in a research note on Wednesday, May 22nd. Truist Financial reduced their price objective on AMETEK from $210.00 to $204.00 and set a “buy” rating for the company in a research note on Tuesday, July 2nd. Finally, Robert W. Baird lowered their target price on shares of AMETEK from $173.00 to $171.00 and set a “neutral” rating on the stock in a research report on Monday, May 6th. Four investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $181.20.

View Our Latest Stock Analysis on AME

Insiders Place Their Bets

In other news, Director Steven W. Kohlhagen sold 1,470 shares of the stock in a transaction dated Wednesday, May 15th. The shares were sold at an average price of $170.20, for a total value of $250,194.00. Following the completion of the transaction, the director now owns 26,249 shares in the company, valued at approximately $4,467,579.80. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other AMETEK news, Director Steven W. Kohlhagen sold 1,440 shares of the company’s stock in a transaction on Wednesday, June 12th. The stock was sold at an average price of $173.93, for a total value of $250,459.20. Following the sale, the director now owns 24,809 shares of the company’s stock, valued at $4,315,029.37. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Steven W. Kohlhagen sold 1,470 shares of the firm’s stock in a transaction on Wednesday, May 15th. The shares were sold at an average price of $170.20, for a total value of $250,194.00. Following the completion of the transaction, the director now owns 26,249 shares of the company’s stock, valued at approximately $4,467,579.80. The disclosure for this sale can be found here. Insiders own 0.61% of the company’s stock.

AMETEK Price Performance

Shares of NYSE AME opened at $165.65 on Friday. The stock has a fifty day moving average price of $169.38 and a 200 day moving average price of $171.77. AMETEK, Inc. has a 1-year low of $136.89 and a 1-year high of $186.32. The company has a debt-to-equity ratio of 0.21, a current ratio of 1.11 and a quick ratio of 0.66. The company has a market cap of $38.34 billion, a PE ratio of 29.11, a P/E/G ratio of 2.66 and a beta of 1.18.

AMETEK (NYSE:AMEGet Free Report) last released its earnings results 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 company had revenue of $1.74 billion for 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%. The firm’s quarterly revenue was up 9.0% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.49 EPS. Sell-side analysts forecast that AMETEK, Inc. will post 6.81 EPS for the current year.

AMETEK Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, June 28th. Shareholders of record on Friday, June 14th were issued a $0.28 dividend. This represents a $1.12 dividend on an annualized basis and a yield of 0.68%. The ex-dividend date was Friday, June 14th. AMETEK’s dividend payout ratio (DPR) is currently 19.68%.

About AMETEK

(Free Report)

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.

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Institutional Ownership by Quarter for AMETEK (NYSE:AME)

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