AMETEK, Inc. (NYSE:AME) Shares Sold by Thrivent Financial for Lutherans

Thrivent Financial for Lutherans cut its stake in AMETEK, Inc. (NYSE:AME) by 19.0% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 155,496 shares of the technology company’s stock after selling 36,433 shares during the quarter. Thrivent Financial for Lutherans’ holdings in AMETEK were worth $26,700,000 at the end of the most recent reporting period.

A number of other large investors also recently bought and sold shares of AME. Bank of New York Mellon Corp lifted its holdings in AMETEK by 34.6% in the second quarter. Bank of New York Mellon Corp now owns 3,602,753 shares of the technology company’s stock valued at $600,615,000 after acquiring an additional 926,657 shares during the period. Meridiem Investment Management Ltd. acquired a new position in AMETEK in the third quarter valued at approximately $130,579,000. Principal Financial Group Inc. lifted its holdings in AMETEK by 72.0% in the third quarter. Principal Financial Group Inc. now owns 1,680,309 shares of the technology company’s stock valued at $288,526,000 after acquiring an additional 703,501 shares during the period. James Hambro & Partners LLP acquired a new position in AMETEK in the third quarter valued at approximately $60,188,000. Finally, Ceredex Value Advisors LLC acquired a new position in AMETEK in the third quarter valued at approximately $40,811,000. 87.43% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at AMETEK

In other AMETEK news, Director Steven W. Kohlhagen sold 1,460 shares of the company’s stock in a transaction 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 sale, the director now directly owns 23,349 shares in the company, valued at $4,006,454.91. This represents a 5.88 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider David F. Hermance sold 6,243 shares of the company’s stock in a transaction on Friday, November 8th. The shares were sold at an average price of $190.99, for a total value of $1,192,350.57. Following the completion of the sale, the insider now owns 36,731 shares of the company’s stock, valued at approximately $7,015,253.69. The trade was a 14.53 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.61% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on the company. Robert W. Baird boosted their price objective on AMETEK from $166.00 to $186.00 and gave the company a “neutral” rating in a research report on Monday, November 4th. Truist Financial boosted their price objective on AMETEK from $219.00 to $221.00 and gave the company a “buy” rating in a research report on Friday, November 1st. Mizuho boosted their price objective on AMETEK from $190.00 to $200.00 and gave the company an “outperform” rating in a research report on Friday, November 1st. StockNews.com cut AMETEK from a “buy” rating to a “hold” rating in a research report on Friday, November 15th. Finally, Wolfe Research upgraded AMETEK to a “hold” rating in a research report on Wednesday, September 18th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $197.86.

AMETEK Stock Up 0.1 %

Shares of AME opened at $193.46 on Wednesday. The company has a debt-to-equity ratio of 0.18, a quick ratio of 0.84 and a current ratio of 1.39. AMETEK, Inc. has a one year low of $149.03 and a one year high of $196.70. The stock has a market capitalization of $44.75 billion, a price-to-earnings ratio of 33.70, a PEG ratio of 3.15 and a beta of 1.16. The stock has a 50 day moving average price of $174.74 and a 200 day moving average price of $170.16.

AMETEK (NYSE:AME) last issued its quarterly earnings results on Thursday, October 31st. The technology company reported $1.66 EPS for the quarter, topping the consensus estimate of $1.62 by $0.04. AMETEK had a return on equity of 16.88% and a net margin of 19.27%. The firm had revenue of $1.71 billion during the quarter, compared to analysts’ expectations of $1.71 billion. During the same period in the previous year, the business earned $1.64 earnings per share. The firm’s revenue for the quarter was up 5.3% on a year-over-year basis. Equities research analysts forecast that AMETEK, Inc. will post 6.81 earnings per share for the current fiscal year.

AMETEK Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, December 20th. Shareholders of record on Friday, December 6th will be issued a $0.28 dividend. This represents a $1.12 annualized dividend and a yield of 0.58%. The ex-dividend date is Friday, December 6th. AMETEK’s payout ratio is currently 19.51%.

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.