Swedbank AB Buys 2,659 Shares of AMETEK, Inc. (NYSE:AME)

by · The Markets Daily

Swedbank AB grew its stake in AMETEK, Inc. (NYSE:AME – Free Report) by 3.9% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 70,517 shares of the technology company’s stock after purchasing an additional 2,659 shares during the quarter. Swedbank AB’s holdings in AMETEK were worth $12,108,000 as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of AME. EverSource Wealth Advisors LLC lifted its position in AMETEK by 7.3% during the first quarter. EverSource Wealth Advisors LLC now owns 899 shares of the technology company’s stock worth $157,000 after acquiring an additional 61 shares during the last quarter. MorganRosel Wealth Management LLC grew its holdings in AMETEK by 1.6% in the 2nd quarter. MorganRosel Wealth Management LLC now owns 3,886 shares of the technology company’s stock valued at $648,000 after buying an additional 61 shares in the last quarter. Commerzbank Aktiengesellschaft FI grew its holdings in AMETEK by 4.8% in the 2nd quarter. Commerzbank Aktiengesellschaft FI now owns 1,340 shares of the technology company’s stock valued at $224,000 after buying an additional 61 shares in the last quarter. First Horizon Advisors Inc. increased its position in AMETEK by 2.4% during the 2nd quarter. First Horizon Advisors Inc. now owns 2,639 shares of the technology company’s stock worth $440,000 after buying an additional 62 shares during the period. Finally, Checchi Capital Advisers LLC boosted its position in shares of AMETEK by 2.9% in the second quarter. Checchi Capital Advisers LLC now owns 2,225 shares of the technology company’s stock valued at $371,000 after acquiring an additional 63 shares during the period. Institutional investors and hedge funds own 87.43% of the company’s stock.

Insider Activity at AMETEK

In related news, insider Tony J. Ciampitti sold 16,210 shares of the company’s stock in a transaction that occurred on Friday, November 22nd. The stock was sold at an average price of $197.01, for a total value of $3,193,532.10. Following the sale, the insider now directly owns 49,490 shares in the company, valued at $9,750,024.90. This represents a 24.67 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Steven W. Kohlhagen sold 1,460 shares of the stock in a transaction that occurred on Wednesday, September 25th. The shares were sold at an average price of $171.59, for a total transaction of $250,521.40. Following the sale, the director now directly owns 23,349 shares of the company’s stock, valued at $4,006,454.91. This represents a 5.88 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 23,913 shares of company stock worth $4,636,404 in the last quarter. 0.61% of the stock is owned by insiders.

AMETEK Stock Up 0.0 %

Shares of NYSE AME opened at $197.13 on Wednesday. The stock has a 50-day moving average price of $177.61 and a two-hundred day moving average price of $171.09. AMETEK, Inc. has a 12 month low of $149.03 and a 12 month high of $198.33. The company has a current ratio of 1.39, a quick ratio of 0.84 and a debt-to-equity ratio of 0.18. The company has a market cap of $45.60 billion, a price-to-earnings ratio of 34.34, a PEG ratio of 3.22 and a beta of 1.16.

AMETEK (NYSE:AME – Get Free Report) last issued its quarterly earnings data on Thursday, October 31st. The technology company reported $1.66 EPS for the quarter, beating 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 business had revenue of $1.71 billion during the quarter, compared to the consensus estimate of $1.71 billion. During the same quarter in the prior year, the firm earned $1.64 EPS. The firm’s revenue was up 5.3% compared to the same quarter last year. As a group, analysts forecast that AMETEK, Inc. will post 6.8 earnings per share for the current fiscal year.

AMETEK Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, December 20th. Stockholders of record on Friday, December 6th will be issued a dividend of $0.28 per share. This represents a $1.12 annualized dividend and a dividend yield of 0.57%. The ex-dividend date is Friday, December 6th. AMETEK’s dividend payout ratio (DPR) is currently 19.51%.

Analyst Ratings Changes

Several brokerages have weighed in on AME. Wolfe Research upgraded shares of AMETEK to a “hold” rating in a research note on Wednesday, September 18th. StockNews.com cut AMETEK from a “buy” rating to a “hold” rating in a research note on Friday, November 15th. TD Cowen downgraded AMETEK from a “hold” rating to a “sell” rating in a research report on Monday, October 7th. Truist Financial lifted their price objective on AMETEK from $219.00 to $221.00 and gave the company a “buy” rating in a report on Friday, November 1st. Finally, KeyCorp boosted their price target on AMETEK from $205.00 to $215.00 and gave the company an “overweight” rating in a research note on Friday, November 22nd. One analyst has rated the stock with a sell rating, three have given a hold rating, five have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, AMETEK currently has a consensus rating of “Moderate Buy” and an average price target of $199.29.

Get Our Latest Stock Report on AMETEK

AMETEK Profile

(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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