Dai ichi Life Insurance Company Ltd Lowers Holdings in AMETEK, Inc. (NYSE:AME)

Dai ichi Life Insurance Company Ltd reduced its stake in shares of AMETEK, Inc. (NYSE:AME) by 7.5% during the 3rd quarter, HoldingsChannel reports. The fund owned 11,791 shares of the technology company’s stock after selling 958 shares during the period. Dai ichi Life Insurance Company Ltd’s holdings in AMETEK were worth $2,025,000 at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. Czech National Bank boosted its holdings in shares of AMETEK by 8.6% in the 2nd quarter. Czech National Bank now owns 44,108 shares of the technology company’s stock valued at $7,353,000 after purchasing an additional 3,499 shares during the last quarter. CWM LLC grew its position in AMETEK by 53.9% during the second quarter. CWM LLC now owns 10,594 shares of the technology company’s stock valued at $1,766,000 after acquiring an additional 3,711 shares during the period. Swedbank AB acquired a new stake in AMETEK during the first quarter worth about $3,833,000. Cetera Investment Advisers raised its holdings in shares of AMETEK by 573.2% in the 1st quarter. Cetera Investment Advisers now owns 59,754 shares of the technology company’s stock worth $10,929,000 after purchasing an additional 50,878 shares during the period. Finally, Assenagon Asset Management S.A. lifted its stake in shares of AMETEK by 68.2% in the 2nd quarter. Assenagon Asset Management S.A. now owns 152,132 shares of the technology company’s stock valued at $25,362,000 after purchasing an additional 61,677 shares in the last quarter. 87.43% of the stock is owned by institutional investors and hedge funds.

AMETEK Trading Down 1.0 %

NYSE:AME opened at $195.13 on Thursday. AMETEK, Inc. has a one year low of $149.03 and a one year high of $198.33. The business’s 50-day simple moving average is $178.12 and its 200 day simple moving average is $171.26. 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 stock has a market cap of $45.14 billion, a price-to-earnings ratio of 33.99, a price-to-earnings-growth ratio of 3.22 and a beta of 1.16.

AMETEK (NYSE:AME) last released 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. The business had revenue of $1.71 billion during the quarter, compared to the consensus estimate of $1.71 billion. AMETEK had a net margin of 19.27% and a return on equity of 16.88%. The business’s quarterly revenue was up 5.3% compared to the same quarter last year. During the same quarter last year, the company earned $1.64 earnings per share. As a group, sell-side analysts predict that AMETEK, Inc. will post 6.8 earnings per share for the current fiscal year.

AMETEK Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, December 20th. Investors of record on Friday, December 6th will be paid a $0.28 dividend. The ex-dividend date of this dividend is Friday, December 6th. This represents a $1.12 dividend on an annualized basis and a yield of 0.57%. AMETEK’s dividend payout ratio (DPR) is 19.51%.

Insider Buying and Selling

In other news, insider Emanuela Speranza sold 6,747 shares of AMETEK stock in a transaction that occurred on 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 approximately $5,967,114. This trade represents a 18.13 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Tony J. Ciampitti sold 16,210 shares of the firm’s stock in a transaction on Friday, November 22nd. The stock was sold at an average price of $197.01, for a total value of $3,193,532.10. Following the transaction, the insider now owns 49,490 shares in the company, valued at $9,750,024.90. This trade represents a 24.67 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 30,660 shares of company stock worth $5,958,141. Corporate insiders own 0.61% of the company’s stock.

Analysts Set New Price Targets

AME has been the topic of several research reports. Royal Bank of Canada cut their price target on shares of AMETEK from $216.00 to $215.00 and set an “outperform” rating on the stock in a report on Friday, August 2nd. StockNews.com downgraded shares of AMETEK from a “buy” rating to a “hold” rating in a research note on Friday, November 15th. Truist Financial raised 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. Redburn Atlantic raised AMETEK to a “strong-buy” rating in a research report on Friday, August 2nd. Finally, Robert W. Baird raised their target price on AMETEK from $166.00 to $186.00 and gave the company a “neutral” rating in a report on Monday, November 4th. One analyst has rated the stock with a sell rating, three have issued a hold rating, five have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $199.29.

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.