AMETEK, Inc. (NYSE:AME) Shares Sold by ING Groep NV

ING Groep NV lessened its position in shares of AMETEK, Inc. (NYSE:AME) by 49.2% in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 22,258 shares of the technology company’s stock after selling 21,589 shares during the period. ING Groep NV’s holdings in AMETEK were worth $3,822,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of AME. Family Firm Inc. purchased a new position in AMETEK in the second quarter valued at $39,000. Industrial Alliance Investment Management Inc. purchased a new position in shares of AMETEK in the 2nd quarter valued at about $42,000. Headlands Technologies LLC acquired a new stake in shares of AMETEK during the 1st quarter worth about $43,000. Princeton Global Asset Management LLC purchased a new stake in AMETEK during the third quarter worth approximately $44,000. Finally, Crewe Advisors LLC boosted its holdings in AMETEK by 168.8% in the second quarter. Crewe Advisors LLC now owns 293 shares of the technology company’s stock valued at $49,000 after purchasing an additional 184 shares in the last quarter. 87.43% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at AMETEK

In other AMETEK news, insider David F. Hermance sold 6,243 shares of the business’s stock in a transaction on 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 sale, the insider now directly owns 36,731 shares in the company, valued at approximately $7,015,253.69. The trade was a 14.53 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Steven W. Kohlhagen sold 1,460 shares of the stock in a transaction dated Wednesday, September 25th. The shares were sold at an average price of $171.59, for a total transaction of $250,521.40. Following the completion of the transaction, the director now owns 23,349 shares of the company’s stock, valued at $4,006,454.91. This represents a 5.88 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.61% of the company’s stock.

AMETEK Stock Performance

Shares of AME stock opened at $193.10 on Friday. The stock’s 50-day moving average price is $173.00 and its 200 day moving average price is $169.71. The company has a quick ratio of 0.84, a current ratio of 1.39 and a debt-to-equity ratio of 0.18. The stock has a market capitalization of $44.67 billion, a PE ratio of 33.64, a price-to-earnings-growth ratio of 3.19 and a beta of 1.16. AMETEK, Inc. has a 52-week low of $149.03 and a 52-week high of $196.70.

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, beating analysts’ consensus estimates of $1.62 by $0.04. AMETEK had a return on equity of 16.88% and a net margin of 19.27%. The business had revenue of $1.71 billion for the quarter, compared to analyst estimates of $1.71 billion. During the same quarter in the previous year, the company posted $1.64 earnings per share. The company’s revenue for the quarter was up 5.3% compared to the same quarter last year. As a group, equities research analysts forecast that AMETEK, Inc. will post 6.81 EPS for the current year.

AMETEK Dividend Announcement

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

Analysts Set New Price Targets

Several analysts have recently weighed in on the stock. Truist Financial boosted their price objective on shares of AMETEK from $219.00 to $221.00 and gave the stock a “buy” rating in a research report on Friday, November 1st. Royal Bank of Canada reduced their price target on shares of AMETEK from $216.00 to $215.00 and set an “outperform” rating for the company in a research report on Friday, August 2nd. Mizuho raised their price objective on AMETEK from $190.00 to $200.00 and gave the stock an “outperform” rating in a report on Friday, November 1st. TD Cowen downgraded AMETEK from a “hold” rating to a “sell” rating in a report on Monday, October 7th. Finally, Wolfe Research upgraded AMETEK to a “hold” rating in a research note on Wednesday, September 18th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating, five have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $197.86.

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.