AMETEK, Inc. (NYSE:AME) Shares Sold by Freedom Investment Management Inc.

Freedom Investment Management Inc. lessened its stake in AMETEK, Inc. (NYSE:AME) by 1.8% in the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 5,478 shares of the technology company’s stock after selling 99 shares during the quarter. Freedom Investment Management Inc.’s holdings in AMETEK were worth $941,000 at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. B. Riley Wealth Advisors Inc. increased its stake in shares of AMETEK by 42.6% in the 1st quarter. B. Riley Wealth Advisors Inc. now owns 1,919 shares of the technology company’s stock worth $351,000 after acquiring an additional 573 shares during the last quarter. Tidal Investments LLC boosted its holdings in AMETEK by 15.1% in the 1st quarter. Tidal Investments LLC now owns 4,930 shares of the technology company’s stock valued at $902,000 after purchasing an additional 646 shares during the last quarter. Comerica Bank grew its stake in shares of AMETEK by 0.4% in the 1st quarter. Comerica Bank now owns 74,825 shares of the technology company’s stock valued at $13,685,000 after buying an additional 314 shares during the period. Citizens Financial Group Inc. RI acquired a new stake in shares of AMETEK during the 1st quarter worth approximately $542,000. Finally, Swedbank AB purchased a new stake in shares of AMETEK during the 1st quarter valued at approximately $3,833,000. Hedge funds and other institutional investors own 87.43% of the company’s stock.

Insider Buying and Selling at AMETEK

In other AMETEK news, insider Tony J. Ciampitti sold 16,210 shares of the stock in a transaction that occurred on Friday, November 22nd. The shares were sold at an average price of $197.01, for a total value of $3,193,532.10. Following the sale, the insider now directly owns 49,490 shares of the company’s stock, valued at approximately $9,750,024.90. This represents a 24.67 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, insider Emanuela Speranza sold 6,747 shares of AMETEK stock in a transaction on Tuesday, November 26th. The stock was sold at an average price of $195.90, for a total transaction of $1,321,737.30. Following the sale, the insider now directly owns 30,460 shares of the company’s stock, valued at approximately $5,967,114. This trade represents a 18.13 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 30,660 shares of company stock valued at $5,958,141 in the last quarter. Corporate insiders own 0.61% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on AME shares. Robert W. Baird increased their price objective on AMETEK from $166.00 to $186.00 and gave the stock a “neutral” rating in a research report on Monday, November 4th. Redburn Atlantic upgraded AMETEK to a “strong-buy” rating in a report on Friday, August 2nd. Truist Financial boosted their price objective on shares of AMETEK from $219.00 to $221.00 and gave the company a “buy” rating in a report on Friday, November 1st. Mizuho increased their target price on shares of AMETEK from $190.00 to $200.00 and gave the stock an “outperform” rating in a research note on Friday, November 1st. Finally, TD Cowen downgraded shares of AMETEK from a “hold” rating to a “sell” rating in a research note on Monday, October 7th. One analyst has rated the stock with a sell rating, three have assigned a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $199.29.

AMETEK Stock Down 1.0 %

Shares of AME opened at $195.10 on Friday. The company’s 50-day simple moving average is $178.58 and its 200-day simple moving average is $171.43. 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 1 year low of $149.03 and a 1 year high of $198.33. The stock has a market capitalization of $45.13 billion, a PE ratio of 33.99, a P/E/G ratio of 3.22 and a beta of 1.16.

AMETEK (NYSE:AME) last released its earnings results on Thursday, October 31st. The technology company reported $1.66 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.62 by $0.04. AMETEK had a net margin of 19.27% and a return on equity of 16.88%. The company had revenue of $1.71 billion for the quarter, compared to analyst estimates of $1.71 billion. During the same period in the prior year, the business earned $1.64 EPS. The firm’s quarterly revenue was up 5.3% on a year-over-year basis. Analysts forecast that AMETEK, Inc. will post 6.8 earnings per share for the current fiscal year.

AMETEK Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, December 20th. Shareholders of record on Friday, December 6th will be issued a dividend of $0.28 per share. The ex-dividend date is Friday, December 6th. This represents a $1.12 annualized dividend and a yield of 0.57%. AMETEK’s dividend payout ratio (DPR) is 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.