First Hawaiian Bank Has $1.86 Million Stock Holdings in AMETEK, Inc. (NYSE:AME)

First Hawaiian Bank cut its holdings in shares of AMETEK, Inc. (NYSE:AME) by 27.3% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 11,183 shares of the technology company’s stock after selling 4,197 shares during the period. First Hawaiian Bank’s holdings in AMETEK were worth $1,864,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in the business. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main lifted its position in shares of AMETEK by 11.2% in the 4th quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 1,669,394 shares of the technology company’s stock worth $275,266,000 after purchasing an additional 167,602 shares during the period. Tyche Wealth Partners LLC acquired a new stake in AMETEK during the 4th quarter worth about $6,275,000. Cim LLC bought a new position in shares of AMETEK in the 4th quarter worth about $1,254,000. Nomura Holdings Inc. acquired a new position in shares of AMETEK in the 4th quarter valued at about $768,000. Finally, Duality Advisers LP bought a new stake in shares of AMETEK during the 1st quarter valued at about $1,676,000. 87.43% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on AME. Truist Financial dropped their price objective on shares of AMETEK from $204.00 to $201.00 and set a “buy” rating on the stock in a report on Friday. Royal Bank of Canada reduced their price objective on AMETEK from $216.00 to $215.00 and set an “outperform” rating for the company in a research note on Friday. Oppenheimer upgraded AMETEK from a “market perform” rating to an “outperform” rating and set a $200.00 price objective for the company in a report on Wednesday, May 22nd. Robert W. Baird reduced their price target on shares of AMETEK from $173.00 to $171.00 and set a “neutral” rating for the company in a research report on Monday, May 6th. Finally, StockNews.com raised shares of AMETEK from a “hold” rating to a “buy” rating in a research note on Monday, July 29th. Three equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $187.00.

Insiders Place Their Bets

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

AMETEK Stock Up 1.3 %

NYSE AME traded up $1.96 on Monday, reaching $154.70. The company had a trading volume of 3,114,069 shares, compared to its average volume of 1,107,771. The stock has a market capitalization of $35.81 billion, a P/E ratio of 27.18, a P/E/G ratio of 2.57 and a beta of 1.18. The company’s fifty day moving average is $168.88 and its 200 day moving average is $172.65. AMETEK, Inc. has a 52-week low of $136.89 and a 52-week high of $186.32. The company has a quick ratio of 0.66, a current ratio of 1.26 and a debt-to-equity ratio of 0.20.

AMETEK (NYSE:AME) last announced its earnings results on Thursday, August 1st. The technology company reported $1.66 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.64 by $0.02. The firm had revenue of $1.73 billion during the quarter, compared to analyst estimates of $1.78 billion. AMETEK had a return on equity of 17.41% and a net margin of 19.51%. The business’s revenue was up 5.4% compared to the same quarter last year. During the same period last year, the firm posted $1.57 EPS. Sell-side analysts anticipate that AMETEK, Inc. will post 6.78 earnings per share for the current fiscal year.

AMETEK Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, June 28th. Shareholders of record on Friday, June 14th were paid a $0.28 dividend. The ex-dividend date was Friday, June 14th. This represents a $1.12 annualized dividend and a yield of 0.72%. AMETEK’s dividend payout ratio 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.