AMETEK, Inc. (NYSE:AME) Shares Sold by Covea Finance

Covea Finance lessened its holdings in shares of AMETEK, Inc. (NYSE:AME) by 24.5% during the 3rd quarter, HoldingsChannel reports. The firm owned 121,123 shares of the technology company’s stock after selling 39,315 shares during the period. Covea Finance’s holdings in AMETEK were worth $20,798,000 at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. Washington Trust Advisors Inc. purchased a new position in shares of AMETEK in the 1st quarter worth $37,000. Family Firm Inc. bought a new position in AMETEK in the 2nd quarter worth approximately $39,000. Industrial Alliance Investment Management Inc. acquired a new stake in shares of AMETEK during the 2nd quarter valued at about $42,000. Headlands Technologies LLC acquired a new position in AMETEK in the first quarter worth $43,000. Finally, Crewe Advisors LLC raised its stake in shares of AMETEK by 168.8% during the second quarter. Crewe Advisors LLC now owns 293 shares of the technology company’s stock worth $49,000 after buying an additional 184 shares during the last quarter. Institutional investors and hedge funds own 87.43% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on AME. Redburn Atlantic raised shares of AMETEK to a “strong-buy” rating in a research note on Friday, August 2nd. TD Cowen downgraded AMETEK from a “hold” rating to a “sell” rating in a research note on Monday, October 7th. Robert W. Baird cut their target price on AMETEK from $171.00 to $166.00 and set a “neutral” rating on the stock in a report on Wednesday, August 7th. StockNews.com lowered AMETEK from a “buy” rating to a “hold” rating in a research report on Tuesday, August 6th. Finally, Truist Financial increased their price target on shares of AMETEK from $201.00 to $219.00 and gave the company a “buy” rating in a research report on Wednesday. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating, four have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $193.83.

Insider Activity

In related news, Director Steven W. Kohlhagen sold 1,460 shares of the company’s 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 transaction, the director now owns 23,349 shares in the company, valued at $4,006,454.91. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 0.61% of the stock is owned by company insiders.

AMETEK Stock Up 0.9 %

NYSE:AME traded up $1.49 during midday trading on Friday, reaching $170.39. The company had a trading volume of 1,171,269 shares, compared to its average volume of 1,136,335. The company has a current ratio of 1.26, a quick ratio of 0.76 and a debt-to-equity ratio of 0.20. AMETEK, Inc. has a 12-month low of $136.89 and a 12-month high of $186.32. The firm has a market capitalization of $39.45 billion, a price-to-earnings ratio of 29.68, a PEG ratio of 2.77 and a beta of 1.17. The stock’s fifty day simple moving average is $166.58 and its 200-day simple moving average is $170.12.

AMETEK (NYSE:AME) last released its quarterly earnings results on Thursday, August 1st. The technology company reported $1.66 earnings per share for the quarter, topping analysts’ consensus estimates of $1.64 by $0.02. AMETEK had a net margin of 19.51% and a return on equity of 17.41%. The business had revenue of $1.73 billion during the quarter, compared to the consensus estimate of $1.78 billion. During the same quarter last year, the company earned $1.57 earnings per share. The business’s quarterly revenue was up 5.4% compared to the same quarter last year. On average, sell-side analysts anticipate that AMETEK, Inc. will post 6.76 earnings per share for the current fiscal year.

AMETEK Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, September 30th. Investors of record on Monday, September 16th were issued a $0.28 dividend. The ex-dividend date was Monday, September 16th. This represents a $1.12 annualized dividend and a yield of 0.66%. AMETEK’s dividend payout ratio (DPR) is presently 19.51%.

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.