Pacer Advisors Inc. Trims Position in AMETEK, Inc. (NYSE:AME)

Pacer Advisors Inc. lowered its holdings in AMETEK, Inc. (NYSE:AME) by 5.1% in the fourth quarter, Holdings Channel.com reports. The firm owned 45,042 shares of the technology company’s stock after selling 2,427 shares during the period. Pacer Advisors Inc.’s holdings in AMETEK were worth $8,119,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently modified their holdings of the company. MassMutual Private Wealth & Trust FSB increased its holdings in AMETEK by 4.5% in the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 1,450 shares of the technology company’s stock valued at $261,000 after buying an additional 63 shares during the last quarter. Hutchens & Kramer Investment Management Group LLC increased its holdings in shares of AMETEK by 3.8% in the 3rd quarter. Hutchens & Kramer Investment Management Group LLC now owns 1,764 shares of the technology company’s stock valued at $298,000 after acquiring an additional 65 shares during the last quarter. Miracle Mile Advisors LLC raised its position in shares of AMETEK by 0.9% during the 3rd quarter. Miracle Mile Advisors LLC now owns 7,178 shares of the technology company’s stock valued at $1,233,000 after acquiring an additional 66 shares in the last quarter. Geneos Wealth Management Inc. lifted its stake in AMETEK by 42.9% during the fourth quarter. Geneos Wealth Management Inc. now owns 233 shares of the technology company’s stock worth $42,000 after purchasing an additional 70 shares during the last quarter. Finally, AlphaMark Advisors LLC boosted its holdings in AMETEK by 2.1% in the fourth quarter. AlphaMark Advisors LLC now owns 3,348 shares of the technology company’s stock worth $604,000 after purchasing an additional 70 shares during the period. Institutional investors and hedge funds own 87.43% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have recently commented on AME. KeyCorp lifted their price target on shares of AMETEK from $205.00 to $215.00 and gave the company an “overweight” rating in a report on Friday, November 22nd. Truist Financial upped their price objective on shares of AMETEK from $221.00 to $222.00 and gave the stock a “buy” rating in a report on Thursday, January 16th. Robert W. Baird lifted their price target on AMETEK from $166.00 to $186.00 and gave the company a “neutral” rating in a research report on Monday, November 4th. StockNews.com upgraded shares of AMETEK from a “hold” rating to a “buy” rating in a research report on Tuesday. Finally, Bank of America raised AMETEK from a “neutral” rating to a “buy” rating and upped their target price for the company from $195.00 to $225.00 in a report on Monday, December 16th. One analyst has rated the stock with a sell rating, two have issued a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $203.44.

Insiders Place Their Bets

In other AMETEK news, insider David F. Hermance sold 6,243 shares of the company’s stock in a transaction dated Friday, November 8th. The shares were sold at an average price of $190.99, for a total transaction of $1,192,350.57. Following the completion of the sale, the insider now directly owns 36,731 shares in the company, valued at $7,015,253.69. This represents a 14.53 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Emanuela Speranza sold 6,747 shares of AMETEK stock in a transaction dated Tuesday, November 26th. The stock was sold at an average price of $195.90, for a total value of $1,321,737.30. Following the completion of the transaction, the insider now owns 30,460 shares in the company, 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 29,200 shares of company stock valued at $5,707,620 over the last 90 days. 0.61% of the stock is currently owned by company insiders.

AMETEK Price Performance

Shares of AME opened at $182.59 on Thursday. The company has a debt-to-equity ratio of 0.18, a quick ratio of 0.84 and a current ratio of 1.39. The firm has a market cap of $42.23 billion, a PE ratio of 31.81, a PEG ratio of 2.73 and a beta of 1.16. AMETEK, Inc. has a twelve month low of $149.03 and a twelve month high of $198.33. The firm’s 50 day moving average price is $186.09 and its 200 day moving average price is $176.20.

AMETEK (NYSE:AME) last posted its 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 net margin of 19.27% and a return on equity of 16.88%. The firm had revenue of $1.71 billion for the quarter, compared to the consensus estimate of $1.71 billion. During the same period in the prior year, the business posted $1.64 earnings per share. The business’s quarterly revenue was up 5.3% on a year-over-year basis. As a group, research analysts expect that AMETEK, Inc. will post 6.8 EPS for the current fiscal year.

AMETEK Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, December 20th. Investors of record on Friday, December 6th were paid a $0.28 dividend. This represents a $1.12 dividend on an annualized basis and a dividend yield of 0.61%. The ex-dividend date was Friday, December 6th. AMETEK’s payout ratio is 19.51%.

AMETEK Company 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.