American Century Companies Inc. decreased its holdings in shares of AMETEK, Inc. (NYSE:AME – Free Report) by 54.7% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 479,213 shares of the technology company’s stock after selling 579,197 shares during the quarter. American Century Companies Inc. owned about 0.21% of AMETEK worth $86,718,000 at the end of the most recent quarter.
A number of other large investors also recently modified their holdings of the business. Invesco Ltd. increased its position in AMETEK by 127.2% during the first quarter. Invesco Ltd. now owns 3,479,397 shares of the technology company’s stock worth $598,943,000 after acquiring an additional 1,947,831 shares during the period. Price T Rowe Associates Inc. MD grew its position in AMETEK by 21.1% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 10,970,047 shares of the technology company’s stock worth $1,888,385,000 after purchasing an additional 1,908,742 shares during the last quarter. Nuveen LLC bought a new position in shares of AMETEK during the 1st quarter worth about $94,051,000. Vanguard Group Inc. raised its position in shares of AMETEK by 1.9% during the second quarter. Vanguard Group Inc. now owns 26,997,665 shares of the technology company’s stock valued at $4,885,497,000 after buying an additional 513,402 shares during the last quarter. Finally, Goldman Sachs Group Inc. lifted its stake in shares of AMETEK by 28.6% in the first quarter. Goldman Sachs Group Inc. now owns 2,178,233 shares of the technology company’s stock valued at $374,961,000 after buying an additional 484,803 shares during the period. 87.43% of the stock is currently owned by institutional investors and hedge funds.
AMETEK Trading Up 0.9%
Shares of AME stock opened at $197.00 on Wednesday. The company has a market capitalization of $45.35 billion, a P/E ratio of 31.72, a P/E/G ratio of 2.64 and a beta of 1.12. AMETEK, Inc. has a 12-month low of $145.02 and a 12-month high of $204.15. The company has a quick ratio of 1.04, a current ratio of 1.63 and a debt-to-equity ratio of 0.15. The firm has a 50-day moving average price of $189.47 and a 200 day moving average price of $184.41.
AMETEK Dividend Announcement
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 19th. Shareholders of record on Friday, December 5th will be given a $0.31 dividend. The ex-dividend date is Friday, December 5th. This represents a $1.24 annualized dividend and a yield of 0.6%. AMETEK’s payout ratio is presently 19.56%.
Insider Buying and Selling
In other AMETEK news, insider Ronald J. Oscher sold 26,290 shares of the business’s stock in a transaction on Friday, October 31st. The stock was sold at an average price of $200.05, for a total value of $5,259,314.50. Following the transaction, the insider owned 40,226 shares of the company’s stock, valued at approximately $8,047,211.30. The trade was a 39.52% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 0.57% of the company’s stock.
Wall Street Analysts Forecast Growth
Several brokerages recently issued reports on AME. Mizuho boosted their price target on AMETEK from $212.00 to $225.00 and gave the company an “outperform” rating in a research note on Friday, August 1st. Truist Financial boosted their price objective on AMETEK from $219.00 to $229.00 and gave the company a “buy” rating in a research report on Wednesday, October 8th. Morgan Stanley upped their target price on AMETEK from $185.00 to $198.00 and gave the company an “equal weight” rating in a research note on Friday, August 8th. Barclays lifted their price target on shares of AMETEK from $200.00 to $205.00 and gave the stock an “equal weight” rating in a research note on Friday, October 31st. Finally, Wall Street Zen upgraded shares of AMETEK from a “hold” rating to a “buy” rating in a research note on Saturday, November 1st. Eight analysts have rated the stock with a Buy rating and six have given a Hold rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $211.00.
Check Out Our Latest Stock Report on AMETEK
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.
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