NORTHSTAR ASSET MANAGEMENT Co LLC Trims Stock Position in AMETEK, Inc. (NYSE:AME)

NORTHSTAR ASSET MANAGEMENT Co LLC lowered its position in shares of AMETEK, Inc. (NYSE:AME) by 0.7% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 38,504 shares of the technology company’s stock after selling 275 shares during the period. AMETEK accounts for about 1.6% of NORTHSTAR ASSET MANAGEMENT Co LLC’s holdings, making the stock its 14th biggest position. NORTHSTAR ASSET MANAGEMENT Co LLC’s holdings in AMETEK were worth $6,419,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. Wetzel Investment Advisors Inc. purchased a new position in AMETEK during the fourth quarter valued at approximately $25,000. Rakuten Securities Inc. purchased a new position in AMETEK in the 4th quarter worth approximately $31,000. Washington Trust Advisors Inc. purchased a new position in AMETEK in the 1st quarter worth approximately $37,000. Headlands Technologies LLC purchased a new position in AMETEK in the 1st quarter worth approximately $43,000. Finally, Mendota Financial Group LLC purchased a new position in AMETEK in the 1st quarter worth approximately $50,000. Hedge funds and other institutional investors own 87.43% of the company’s stock.

AMETEK Trading Down 0.3 %

Shares of AME traded down $0.46 during mid-day trading on Friday, reaching $162.69. The company’s stock had a trading volume of 1,039,517 shares, compared to its average volume of 1,133,188. The stock has a market cap of $37.66 billion, a PE ratio of 28.59, a P/E/G ratio of 2.57 and a beta of 1.18. The company has a current ratio of 1.26, a quick ratio of 0.66 and a debt-to-equity ratio of 0.20. AMETEK, Inc. has a 52 week low of $136.89 and a 52 week high of $186.32. The company’s fifty day moving average price is $167.07 and its two-hundred day moving average price is $172.30.

AMETEK (NYSE:AME) last posted its quarterly earnings results on Thursday, August 1st. The technology company reported $1.66 EPS for the quarter, beating analysts’ consensus estimates of $1.64 by $0.02. AMETEK had a net margin of 19.51% and a return on equity of 17.41%. The company had revenue of $1.73 billion during the quarter, compared to analyst estimates of $1.78 billion. During the same period in the prior year, the business posted $1.57 EPS. The firm’s revenue was up 5.4% compared to the same quarter last year. On average, analysts predict that AMETEK, Inc. will post 6.78 earnings per share for the current fiscal year.

AMETEK Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, September 30th. Investors of record on Monday, September 16th will be issued a dividend of $0.28 per share. The ex-dividend date of this dividend is Monday, September 16th. This represents a $1.12 dividend on an annualized basis and a yield of 0.69%. AMETEK’s dividend payout ratio is currently 19.68%.

Wall Street Analyst Weigh In

A number of equities analysts have commented on the stock. TD Cowen cut their price target on shares of AMETEK from $165.00 to $158.00 and set a “hold” rating for the company in a research note on Monday, August 5th. Robert W. Baird cut their price target on shares of AMETEK from $171.00 to $166.00 and set a “neutral” rating for the company in a research note on Wednesday, August 7th. Oppenheimer raised shares of AMETEK from a “market perform” rating to an “outperform” rating and set a $200.00 price target for the company in a research note on Wednesday, May 22nd. Truist Financial cut their price target on shares of AMETEK from $204.00 to $201.00 and set a “buy” rating for the company in a research note on Friday, August 2nd. Finally, Redburn Atlantic upgraded shares of AMETEK to a “strong-buy” rating in a report on Friday, August 2nd. Four research analysts have rated the stock with a hold rating, four have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $186.29.

Insider Activity at AMETEK

In related news, Director Steven W. Kohlhagen sold 1,440 shares of the company’s stock in a transaction on Wednesday, June 12th. The shares were sold at an average price of $173.93, for a total transaction of $250,459.20. Following the completion of the sale, the director now directly owns 24,809 shares in the company, valued at approximately $4,315,029.37. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.61% of the stock is currently owned by company insiders.

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.