Capital Group Investment Management PTE. LTD. Reduces Stock Holdings in AMETEK, Inc. (NYSE:AME)

Capital Group Investment Management PTE. LTD. lessened its stake in AMETEK, Inc. (NYSE:AME) by 81.3% in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 6,150 shares of the technology company’s stock after selling 26,712 shares during the quarter. Capital Group Investment Management PTE. LTD.’s holdings in AMETEK were worth $1,125,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of AME. McGlone Suttner Wealth Management Inc. acquired a new stake in shares of AMETEK during the fourth quarter valued at about $25,000. Wetzel Investment Advisors Inc. acquired a new stake in AMETEK during the 4th quarter valued at approximately $25,000. Turtle Creek Wealth Advisors LLC purchased a new stake in AMETEK during the 4th quarter worth approximately $26,000. Rakuten Securities Inc. acquired a new position in shares of AMETEK in the 4th quarter valued at approximately $31,000. Finally, Washington Trust Advisors Inc. acquired a new position in shares of AMETEK in the 1st quarter valued at approximately $37,000. Institutional investors and hedge funds own 87.43% of the company’s stock.

Insider Activity

In related 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 sale, the director now owns 26,249 shares of the company’s stock, valued at approximately $4,467,579.80. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In other news, Director Steven W. Kohlhagen sold 1,440 shares of the business’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 directly owns 24,809 shares in the company, valued at $4,315,029.37. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Steven W. Kohlhagen sold 1,470 shares of the stock in a transaction that occurred on Wednesday, May 15th. The stock was 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 directly owns 26,249 shares of the company’s stock, valued at $4,467,579.80. The disclosure for this sale can be found here. Corporate insiders own 0.61% of the company’s stock.

Analysts Set New Price Targets

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

AMETEK Stock Performance

AME traded up $3.82 on Friday, hitting $172.34. 864,601 shares of the company’s stock were exchanged, compared to its average volume of 1,052,104. 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 fifty day moving average of $169.35 and a two-hundred day moving average of $172.35. AMETEK, Inc. has a twelve month low of $136.89 and a twelve month high of $186.32. The firm has a market cap of $39.89 billion, a PE ratio of 29.62, a P/E/G ratio of 2.68 and a beta of 1.18.

AMETEK (NYSE:AME) last announced its quarterly earnings results on Thursday, May 2nd. The technology company reported $1.64 earnings per share for the quarter, topping analysts’ consensus estimates of $1.59 by $0.05. The business 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 business’s quarterly revenue was up 9.0% on a year-over-year basis. During the same period in the prior year, the firm earned $1.49 EPS. On average, research analysts anticipate that AMETEK, Inc. will post 6.81 earnings per share for the current fiscal year.

AMETEK Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, June 28th. Stockholders of record on Friday, June 14th were issued a dividend of $0.28 per share. This represents a $1.12 annualized dividend and a dividend yield of 0.65%. The ex-dividend date of this dividend was Friday, June 14th. AMETEK’s dividend payout ratio (DPR) is 19.68%.

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.