Mitsubishi UFJ Trust & Banking Corp Sells 7,701 Shares of AMETEK, Inc. (NYSE:AME)

Mitsubishi UFJ Trust & Banking Corp trimmed its holdings in shares of AMETEK, Inc. (NYSE:AME) by 6.2% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 116,199 shares of the technology company’s stock after selling 7,701 shares during the period. Mitsubishi UFJ Trust & Banking Corp owned about 0.05% of AMETEK worth $21,251,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in AME. McGlone Suttner Wealth Management Inc. bought a new stake in AMETEK in the 4th quarter valued at about $25,000. Wetzel Investment Advisors Inc. bought a new stake in AMETEK in the 4th quarter valued at about $25,000. Turtle Creek Wealth Advisors LLC bought a new stake in AMETEK in the 4th quarter valued at about $26,000. Rakuten Securities Inc. bought a new stake in AMETEK in the 4th quarter valued at about $31,000. Finally, Washington Trust Advisors Inc. bought a new stake in AMETEK in the 1st quarter valued at about $37,000. 87.43% of the stock is currently owned by institutional investors.

AMETEK Price Performance

AME traded down $2.57 during midday trading on Friday, hitting $169.16. The stock had a trading volume of 886,993 shares, compared to its average volume of 1,057,747. The company has a market cap of $39.16 billion, a P/E ratio of 29.73, a price-to-earnings-growth ratio of 2.72 and a beta of 1.18. The business has a fifty day moving average of $169.26 and a 200 day moving average of $172.16. The company has a debt-to-equity ratio of 0.21, a quick ratio of 0.66 and a current ratio of 1.11. AMETEK, Inc. has a 1 year low of $136.89 and a 1 year high of $186.32.

AMETEK (NYSE:AME) last issued 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 business had revenue of $1.74 billion during the quarter, compared to analyst estimates of $1.78 billion. AMETEK had a return on equity of 17.74% and a net margin of 19.57%. AMETEK’s revenue for the quarter was up 9.0% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.49 earnings per share. As a group, equities analysts forecast that AMETEK, Inc. will post 6.81 earnings per share for the current fiscal year.

AMETEK Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, June 28th. Shareholders of record on Friday, June 14th were given a $0.28 dividend. The ex-dividend date was Friday, June 14th. This represents a $1.12 annualized dividend and a yield of 0.66%. AMETEK’s payout ratio is currently 19.68%.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on the company. StockNews.com cut AMETEK from a “buy” rating to a “hold” rating in a research report on Tuesday, June 18th. Truist Financial decreased their price target on AMETEK from $210.00 to $204.00 and set a “buy” rating on the stock in a research report on Tuesday, July 2nd. 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 report on Wednesday, May 22nd. Finally, Robert W. Baird cut their price objective on AMETEK from $173.00 to $171.00 and set a “neutral” rating for the company in a 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. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $181.20.

Insider Buying and Selling at AMETEK

In related news, Director Steven W. Kohlhagen sold 1,440 shares of the company’s stock in a transaction that occurred on Wednesday, June 12th. The stock was sold at an average price of $173.93, for a total transaction of $250,459.20. Following the completion of the transaction, the director now owns 24,809 shares in the company, valued at $4,315,029.37. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. In related news, Director Steven W. Kohlhagen sold 1,470 shares of the company’s stock in a transaction that occurred on Wednesday, May 15th. The stock was sold at an average price of $170.20, for a total transaction of $250,194.00. Following the completion of the transaction, the director now owns 26,249 shares in the company, valued at $4,467,579.80. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Director Steven W. Kohlhagen sold 1,440 shares of the 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 completion of the transaction, the director now owns 24,809 shares of the company’s stock, valued at approximately $4,315,029.37. The disclosure for this sale can be found here. Corporate insiders own 0.61% of the company’s stock.

AMETEK 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.