Meiji Yasuda Life Insurance Co Sells 1,723 Shares of AMETEK, Inc. (NYSE:AME)

Meiji Yasuda Life Insurance Co lessened its holdings in shares of AMETEK, Inc. (NYSE:AME) by 14.9% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 9,849 shares of the technology company’s stock after selling 1,723 shares during the period. Meiji Yasuda Life Insurance Co’s holdings in AMETEK were worth $1,801,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also modified their holdings of AME. McGlone Suttner Wealth Management Inc. acquired a new stake in shares of AMETEK in the 4th quarter valued at about $25,000. Wetzel Investment Advisors Inc. bought a new position in shares of AMETEK during the fourth quarter worth about $25,000. Turtle Creek Wealth Advisors LLC acquired a new stake in AMETEK in the 4th quarter valued at approximately $26,000. Rakuten Securities Inc. bought a new stake in AMETEK in the 4th quarter valued at approximately $31,000. Finally, Washington Trust Advisors Inc. acquired a new position in AMETEK during the 1st quarter worth approximately $37,000. 87.43% of the stock is currently owned by institutional investors and hedge funds.

AMETEK Stock Performance

Shares of NYSE AME traded up $1.09 during midday trading on Wednesday, hitting $173.44. 1,143,780 shares of the company’s stock were exchanged, compared to its average volume of 1,050,381. The company has a quick ratio of 0.66, a current ratio of 1.11 and a debt-to-equity ratio of 0.21. The firm has a market capitalization of $40.15 billion, a PE ratio of 30.29, a price-to-earnings-growth ratio of 2.76 and a beta of 1.18. AMETEK, Inc. has a 12 month low of $136.89 and a 12 month high of $186.32. The company’s 50 day moving average price is $169.59 and its 200 day moving average price is $172.66.

AMETEK (NYSE:AME) last released its quarterly earnings data on Thursday, May 2nd. The technology company reported $1.64 EPS for the quarter, topping analysts’ consensus estimates of $1.59 by $0.05. The firm had revenue of $1.74 billion during the quarter, compared to analysts’ expectations of $1.78 billion. AMETEK had a net margin of 19.57% and a return on equity of 17.74%. The company’s revenue for the quarter was up 9.0% compared to the same quarter last year. During the same period in the previous year, the business posted $1.49 earnings per share. As a group, analysts predict that AMETEK, Inc. will post 6.81 earnings per share for the current fiscal year.

AMETEK Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, June 28th. Shareholders of record on Friday, June 14th were issued a $0.28 dividend. The ex-dividend date of this dividend was Friday, June 14th. This represents a $1.12 annualized dividend and a yield of 0.65%. AMETEK’s dividend payout ratio is currently 19.68%.

Analyst Upgrades and Downgrades

A number of analysts have recently commented on AME shares. Truist Financial cut their price objective on shares of AMETEK from $210.00 to $204.00 and set a “buy” rating on the stock in a research report on Tuesday, July 2nd. StockNews.com upgraded AMETEK from a “hold” rating to a “buy” rating in a report on Monday. Oppenheimer upgraded AMETEK from a “market perform” rating to an “outperform” rating and set a $200.00 target price on the stock in a report on Wednesday, May 22nd. Finally, Robert W. Baird decreased their price target on AMETEK from $173.00 to $171.00 and set a “neutral” rating for the company in a research note on Monday, May 6th. Three investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $181.20.

Insiders Place Their Bets

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

About AMETEK

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.