Sumitomo Life Insurance Co. Raises Holdings in AMETEK, Inc. (NYSE:AME)

Sumitomo Life Insurance Co. increased its position in AMETEK, Inc. (NYSE:AME) by 2.4% in the 3rd quarter, according to its most recent filing with the SEC. The fund owned 11,523 shares of the technology company’s stock after purchasing an additional 266 shares during the period. Sumitomo Life Insurance Co.’s holdings in AMETEK were worth $1,979,000 at the end of the most recent quarter.

Other large investors have also recently made changes to their positions in the company. EverSource Wealth Advisors LLC lifted its stake in AMETEK by 7.3% in the first quarter. EverSource Wealth Advisors LLC now owns 899 shares of the technology company’s stock valued at $157,000 after buying an additional 61 shares during the last quarter. MorganRosel Wealth Management LLC increased its holdings in shares of 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 acquiring an additional 61 shares during the period. Commerzbank Aktiengesellschaft FI raised its position 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 purchasing an additional 61 shares during the last quarter. First Horizon Advisors Inc. boosted its stake 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 purchasing an additional 62 shares during the period. Finally, Checchi Capital Advisers LLC grew its position in AMETEK by 2.9% during the 2nd quarter. Checchi Capital Advisers LLC now owns 2,225 shares of the technology company’s stock worth $371,000 after purchasing an additional 63 shares during the last quarter. 87.43% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In related news, Director Steven W. Kohlhagen sold 1,460 shares of the firm’s stock in a transaction that occurred on Wednesday, September 25th. The stock was sold at an average price of $171.59, for a total value of $250,521.40. Following the completion of the transaction, the director now directly owns 23,349 shares of the company’s stock, valued at $4,006,454.91. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders own 0.61% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have recently commented on AME shares. Truist Financial upped their target price on shares of AMETEK from $201.00 to $219.00 and gave the company a “buy” rating in a report on Wednesday, October 9th. Robert W. Baird decreased their price objective on AMETEK from $171.00 to $166.00 and set a “neutral” rating for the company in a research report on Wednesday, August 7th. StockNews.com lowered AMETEK from a “buy” rating to a “hold” rating in a report on Tuesday, August 6th. Redburn Atlantic upgraded AMETEK to a “strong-buy” rating in a research note on Friday, August 2nd. Finally, Royal Bank of Canada lowered their price objective on shares of AMETEK from $216.00 to $215.00 and set an “outperform” rating on the stock in a research report on Friday, August 2nd. One investment analyst has rated the stock with a sell rating, three have issued a hold rating, four have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $193.83.

AMETEK Stock Up 0.2 %

AMETEK stock opened at $169.71 on Thursday. The stock’s 50 day moving average price is $167.42 and its 200 day moving average price is $169.77. AMETEK, Inc. has a 1-year low of $136.89 and a 1-year high of $186.32. The company has a market cap of $39.28 billion, a PE ratio of 29.83, a price-to-earnings-growth ratio of 2.77 and a beta of 1.17. The company has a debt-to-equity ratio of 0.20, a current ratio of 1.26 and a quick ratio of 0.76.

AMETEK (NYSE:AME) last issued its earnings results on Thursday, August 1st. The technology company reported $1.66 EPS for the quarter, topping the consensus estimate of $1.64 by $0.02. The company had revenue of $1.73 billion for the quarter, compared to analyst estimates of $1.78 billion. AMETEK had a net margin of 19.51% and a return on equity of 17.41%. The business’s revenue was up 5.4% on a year-over-year basis. During the same period in the previous year, the firm earned $1.57 EPS. On average, sell-side analysts predict that AMETEK, Inc. will post 6.76 EPS for the current fiscal year.

AMETEK Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, September 30th. Shareholders of record on Monday, September 16th were issued a $0.28 dividend. The ex-dividend date was Monday, September 16th. This represents a $1.12 dividend on an annualized basis and a yield of 0.66%. AMETEK’s dividend payout ratio (DPR) is presently 19.68%.

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.