AMETEK, Inc. (NYSE:AME) Stock Position Reduced by Burney Co.

Burney Co. trimmed its position in AMETEK, Inc. (NYSE:AME) by 4.3% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 10,826 shares of the technology company’s stock after selling 484 shares during the quarter. Burney Co.’s holdings in AMETEK were worth $1,951,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also made changes to their positions in AME. Federated Hermes Inc. increased its stake in AMETEK by 8.8% during the second quarter. Federated Hermes Inc. now owns 1,177 shares of the technology company’s stock valued at $196,000 after purchasing an additional 95 shares during the last quarter. Parallel Advisors LLC boosted its holdings in shares of AMETEK by 42.9% in the 2nd quarter. Parallel Advisors LLC now owns 3,335 shares of the technology company’s stock valued at $556,000 after buying an additional 1,002 shares during the period. Envestnet Asset Management Inc. grew its position in shares of AMETEK by 4.6% during the 2nd quarter. Envestnet Asset Management Inc. now owns 346,275 shares of the technology company’s stock valued at $57,727,000 after buying an additional 15,276 shares during the last quarter. Dimensional Fund Advisors LP raised its stake in AMETEK by 8.6% during the second quarter. Dimensional Fund Advisors LP now owns 1,882,166 shares of the technology company’s stock worth $313,777,000 after acquiring an additional 148,447 shares during the period. Finally, Citizens Financial Group Inc. RI lifted its holdings in AMETEK by 7.5% in the second quarter. Citizens Financial Group Inc. RI now owns 3,182 shares of the technology company’s stock worth $530,000 after acquiring an additional 221 shares during the last quarter. 87.43% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of analysts have recently weighed in on the company. KeyCorp increased their price target on AMETEK from $205.00 to $215.00 and gave the stock an “overweight” rating in a research report on Friday, November 22nd. Wolfe Research raised AMETEK to a “hold” rating in a research report on Wednesday, September 18th. TD Cowen downgraded shares of AMETEK from a “hold” rating to a “sell” rating in a report on Monday, October 7th. Robert W. Baird increased their price objective on shares of AMETEK from $166.00 to $186.00 and gave the stock a “neutral” rating in a report on Monday, November 4th. Finally, Bank of America upgraded shares of AMETEK from a “neutral” rating to a “buy” rating and lifted their price objective for the company from $195.00 to $225.00 in a research report on Monday, December 16th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $202.50.

AMETEK Stock Performance

AME stock opened at $180.02 on Thursday. The company has a 50-day simple moving average of $187.75 and a 200 day simple moving average of $174.94. The company has a market capitalization of $41.64 billion, a P/E ratio of 31.36, a PEG ratio of 3.08 and a beta of 1.16. The company has a quick ratio of 0.84, a current ratio of 1.39 and a debt-to-equity ratio of 0.18. AMETEK, Inc. has a fifty-two week low of $149.03 and a fifty-two week high of $198.33.

AMETEK (NYSE:AME) last issued its quarterly earnings results on Thursday, October 31st. The technology company reported $1.66 earnings per share 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 during the quarter, compared to analyst estimates of $1.71 billion. During the same period in the prior year, the business posted $1.64 EPS. The business’s revenue for the quarter was up 5.3% compared to the same quarter last year. Sell-side analysts predict that AMETEK, Inc. will post 6.8 earnings per share for the current fiscal year.

AMETEK Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, December 20th. Stockholders of record on Friday, December 6th were given a dividend of $0.28 per share. This represents a $1.12 annualized dividend and a dividend yield of 0.62%. The ex-dividend date was Friday, December 6th. AMETEK’s dividend payout ratio (DPR) is presently 19.51%.

Insider Activity

In related news, insider David F. Hermance sold 6,243 shares of the business’s stock in a transaction that occurred 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 sale, the insider now directly owns 36,731 shares in the company, valued at $7,015,253.69. The trade was a 14.53 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Emanuela Speranza sold 6,747 shares of the firm’s stock in a transaction that occurred 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 owns 30,460 shares of the company’s stock, valued at $5,967,114. The trade was a 18.13 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 29,200 shares of company stock worth $5,707,620 over the last 90 days. 0.61% of the stock is currently owned by company insiders.

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.