American International Group Inc. Sells 415 Shares of AMETEK, Inc. (NYSE:AME)

American International Group Inc. reduced its holdings in AMETEK, Inc. (NYSE:AME) by 0.7% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 61,426 shares of the technology company’s stock after selling 415 shares during the period. American International Group Inc.’s holdings in AMETEK were worth $11,235,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of the business. SG Americas Securities LLC increased its stake in AMETEK by 19.7% in the fourth quarter. SG Americas Securities LLC now owns 13,784 shares of the technology company’s stock valued at $2,273,000 after acquiring an additional 2,264 shares during the period. Mutual Advisors LLC boosted its position in shares of AMETEK by 16.2% in the 4th quarter. Mutual Advisors LLC now owns 2,122 shares of the technology company’s stock worth $350,000 after purchasing an additional 296 shares during the last quarter. CVA Family Office LLC acquired a new position in shares of AMETEK during the 4th quarter worth about $74,000. Raymond James Financial Services Advisors Inc. increased its stake in shares of AMETEK by 1.4% in the 4th quarter. Raymond James Financial Services Advisors Inc. now owns 83,251 shares of the technology company’s stock valued at $13,727,000 after acquiring an additional 1,135 shares during the last quarter. Finally, Pacer Advisors Inc. raised its holdings in AMETEK by 161.0% in the fourth quarter. Pacer Advisors Inc. now owns 44,684 shares of the technology company’s stock worth $7,368,000 after purchasing an additional 27,562 shares during the period. 87.43% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at AMETEK

In other news, Director Steven W. Kohlhagen sold 1,470 shares of the business’s stock in a transaction that occurred on Wednesday, May 15th. The shares were sold at an average price of $170.20, for a total value of $250,194.00. Following the transaction, the director now owns 26,249 shares in the company, valued at approximately $4,467,579.80. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other AMETEK news, Director Steven W. Kohlhagen sold 1,470 shares of the business’s stock in a transaction that occurred on Wednesday, May 15th. The stock was sold at an average price of $170.20, for a total value of $250,194.00. Following the transaction, the director now directly owns 26,249 shares of the company’s stock, valued at $4,467,579.80. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Steven W. Kohlhagen sold 1,440 shares of AMETEK stock in a transaction on Wednesday, June 12th. The shares were sold at an average price of $173.93, for a total transaction of $250,459.20. Following the completion of the sale, the director now directly owns 24,809 shares of the company’s stock, valued at $4,315,029.37. The disclosure for this sale can be found here. 0.61% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

AME has been the subject of a number of research reports. Oppenheimer raised AMETEK from a “market perform” rating to an “outperform” rating and set a $200.00 target price for the company in a research note on Wednesday, May 22nd. Robert W. Baird reduced their price target on AMETEK from $173.00 to $171.00 and set a “neutral” rating for the company in a research report on Monday, May 6th. Truist Financial lowered their price target on AMETEK from $210.00 to $204.00 and set a “buy” rating on the stock in a research report on Tuesday, July 2nd. Finally, StockNews.com lowered shares of AMETEK from a “buy” rating to a “hold” rating in a research note on Tuesday, June 18th. Four equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. According to data from MarketBeat, AMETEK currently has a consensus rating of “Moderate Buy” and an average price target of $181.20.

AMETEK Stock Performance

NYSE AME traded down $4.87 on Wednesday, reaching $167.00. The stock had a trading volume of 924,979 shares, compared to its average volume of 1,055,750. The company has a debt-to-equity ratio of 0.21, a current ratio of 1.11 and a quick ratio of 0.66. The company has a market cap of $38.66 billion, a P/E ratio of 29.35, a price-to-earnings-growth ratio of 2.78 and a beta of 1.18. The firm has a fifty day moving average of $169.33 and a two-hundred day moving average of $172.37. AMETEK, Inc. has a 1-year low of $136.89 and a 1-year high of $186.32.

AMETEK (NYSE:AME) last released its quarterly earnings results on Thursday, May 2nd. The technology company reported $1.64 EPS for the quarter, beating the consensus estimate of $1.59 by $0.05. AMETEK had a net margin of 19.57% and a return on equity of 17.74%. The business had revenue of $1.74 billion for the quarter, compared to the consensus estimate of $1.78 billion. During the same period in the prior year, the company posted $1.49 earnings per share. AMETEK’s revenue was up 9.0% compared to the same quarter last year. On average, equities research analysts anticipate that AMETEK, Inc. will post 6.81 EPS for the current year.

AMETEK Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, June 28th. Shareholders of record on Friday, June 14th were given a $0.28 dividend. This represents a $1.12 annualized dividend and a yield of 0.67%. The ex-dividend date of this dividend was Friday, June 14th. AMETEK’s dividend payout ratio (DPR) is currently 19.68%.

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.