Jennison Associates LLC Grows Stake in AMETEK, Inc. (NYSE:AME)

Jennison Associates LLC raised its position in AMETEK, Inc. (NYSE:AME) by 0.7% during the third quarter, according to the company in its most recent disclosure with the SEC. The firm owned 361,647 shares of the technology company’s stock after acquiring an additional 2,524 shares during the quarter. Jennison Associates LLC’s holdings in AMETEK were worth $62,098,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also bought and sold shares of the company. Price T Rowe Associates Inc. MD lifted its stake in shares of AMETEK by 0.7% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 6,536,231 shares of the technology company’s stock worth $1,195,478,000 after purchasing an additional 44,899 shares during the period. Bank of New York Mellon Corp raised its position in AMETEK by 34.6% in the second quarter. Bank of New York Mellon Corp now owns 3,602,753 shares of the technology company’s stock worth $600,615,000 after acquiring an additional 926,657 shares during the period. Boston Partners boosted its stake in shares of AMETEK by 3.0% during the 1st quarter. Boston Partners now owns 3,063,588 shares of the technology company’s stock worth $560,278,000 after acquiring an additional 90,271 shares during the last quarter. Dimensional Fund Advisors LP boosted its stake in shares of AMETEK by 8.6% during the 2nd quarter. Dimensional Fund Advisors LP now owns 1,882,166 shares of the technology company’s stock worth $313,777,000 after acquiring an additional 148,447 shares during the last quarter. Finally, Principal Financial Group Inc. grew its position in shares of AMETEK by 72.0% during the 3rd quarter. Principal Financial Group Inc. now owns 1,680,309 shares of the technology company’s stock valued at $288,526,000 after acquiring an additional 703,501 shares during the period. 87.43% of the stock is owned by hedge funds and other institutional investors.

AMETEK Price Performance

Shares of NYSE:AME opened at $193.33 on Thursday. 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 firm has a market cap of $44.72 billion, a price-to-earnings ratio of 33.68, a P/E/G ratio of 3.15 and a beta of 1.16. The firm has a fifty day moving average price of $175.30 and a 200 day moving average price of $170.32. AMETEK, Inc. has a fifty-two week low of $149.03 and a fifty-two week high of $196.70.

AMETEK (NYSE:AME) last released its quarterly earnings data on Thursday, October 31st. The technology company reported $1.66 EPS for the quarter, beating the consensus estimate of $1.62 by $0.04. AMETEK had a net margin of 19.27% and a return on equity of 16.88%. The business had revenue of $1.71 billion during the quarter, compared to the consensus estimate of $1.71 billion. During the same quarter in the prior year, the firm earned $1.64 EPS. The business’s revenue was up 5.3% on a year-over-year basis. As a group, sell-side analysts expect that AMETEK, Inc. will post 6.81 earnings per share for the current fiscal year.

AMETEK Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, December 20th. Stockholders of record on Friday, December 6th will be given a dividend of $0.28 per share. The ex-dividend date of this dividend is Friday, December 6th. This represents a $1.12 dividend on an annualized basis and a dividend yield of 0.58%. AMETEK’s dividend payout ratio is currently 19.51%.

Insider Activity at AMETEK

In related news, Director Steven W. Kohlhagen sold 1,460 shares of the firm’s stock in a transaction on Wednesday, September 25th. The stock was sold at an average price of $171.59, for a total value of $250,521.40. Following the completion of the sale, the director now directly owns 23,349 shares in the company, valued at $4,006,454.91. This trade represents a 5.88 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider David F. Hermance sold 6,243 shares of the business’s stock in a transaction on Friday, November 8th. The shares were sold at an average price of $190.99, for a total transaction of $1,192,350.57. Following the transaction, the insider now owns 36,731 shares in the company, valued at $7,015,253.69. This trade represents a 14.53 % decrease in their position. The disclosure for this sale can be found here. 0.61% of the stock is currently owned by insiders.

Analyst Ratings Changes

Several research firms recently weighed in on AME. Truist Financial lifted their target price 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 upgraded AMETEK to a “strong-buy” rating in a research note on Friday, August 2nd. Robert W. Baird raised their target price on shares of AMETEK from $166.00 to $186.00 and gave the stock a “neutral” rating in a research note on Monday, November 4th. StockNews.com lowered shares of AMETEK from a “buy” rating to a “hold” rating in a research report on Friday, November 15th. Finally, Wolfe Research upgraded shares of AMETEK to a “hold” rating in a research report on Wednesday, September 18th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating, five have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, AMETEK presently has an average rating of “Moderate Buy” and an average price target of $197.86.

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.