AMETEK, Inc. (NYSE:AME) Shares Sold by Wellington Management Group LLP

Wellington Management Group LLP lowered its stake in AMETEK, Inc. (NYSE:AME) by 6.0% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 957,321 shares of the technology company’s stock after selling 61,500 shares during the period. Wellington Management Group LLP’s holdings in AMETEK were worth $164,382,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of the stock. Commerzbank Aktiengesellschaft FI increased its stake in AMETEK by 4.8% in the 2nd quarter. Commerzbank Aktiengesellschaft FI now owns 1,340 shares of the technology company’s stock valued at $224,000 after buying an additional 61 shares during the period. First Horizon Advisors Inc. increased its stake in shares of AMETEK by 2.4% during the second quarter. First Horizon Advisors Inc. now owns 2,639 shares of the technology company’s stock worth $440,000 after acquiring an additional 62 shares during the period. Checchi Capital Advisers LLC raised its holdings in AMETEK by 2.9% during the second quarter. Checchi Capital Advisers LLC now owns 2,225 shares of the technology company’s stock worth $371,000 after purchasing an additional 63 shares in the last quarter. Hutchens & Kramer Investment Management Group LLC lifted its position in AMETEK by 3.8% in the third quarter. Hutchens & Kramer Investment Management Group LLC now owns 1,764 shares of the technology company’s stock valued at $298,000 after purchasing an additional 65 shares during the period. Finally, Miracle Mile Advisors LLC boosted its holdings in AMETEK by 0.9% in the 3rd quarter. Miracle Mile Advisors LLC now owns 7,178 shares of the technology company’s stock valued at $1,233,000 after purchasing an additional 66 shares in the last quarter. Hedge funds and other institutional investors own 87.43% of the company’s stock.

Analysts Set New Price Targets

AME has been the subject of several recent analyst reports. StockNews.com raised AMETEK from a “hold” rating to a “buy” rating in a report on Wednesday, December 4th. Truist Financial raised their target price on AMETEK from $219.00 to $221.00 and gave the company a “buy” rating in a report on Friday, November 1st. TD Cowen cut shares of AMETEK from a “hold” rating to a “sell” rating in a research note on Monday, October 7th. Robert W. Baird boosted their price objective on shares of AMETEK from $166.00 to $186.00 and gave the stock a “neutral” rating in a report on Monday, November 4th. Finally, Mizuho upped their target price on shares of AMETEK from $190.00 to $200.00 and gave the stock an “outperform” rating in a research report on Friday, November 1st. One research analyst has rated the stock with a sell rating, two have given a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $199.29.

Insider Activity

In related news, insider David F. Hermance sold 6,243 shares of the company’s stock in a transaction that occurred 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 of the company’s stock, valued at approximately $7,015,253.69. This represents a 14.53 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Steven W. Kohlhagen sold 1,460 shares of AMETEK stock in a transaction that occurred on Wednesday, September 25th. The stock was sold at an average price of $171.59, for a total transaction of $250,521.40. Following the completion of the sale, the director now directly owns 23,349 shares of the company’s stock, valued at $4,006,454.91. The trade was a 5.88 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 30,660 shares of company stock worth $5,958,141 over the last three months. 0.61% of the stock is currently owned by corporate insiders.

AMETEK Price Performance

AMETEK stock opened at $191.54 on Monday. The firm has a market capitalization of $44.31 billion, a PE ratio of 33.37, a P/E/G ratio of 3.18 and a beta of 1.15. AMETEK, Inc. has a 52 week low of $149.03 and a 52 week high of $198.33. The firm’s 50-day simple moving average is $181.31 and its 200 day simple moving average is $172.50. The company has a quick ratio of 0.84, a current ratio of 1.39 and a debt-to-equity ratio of 0.18.

AMETEK (NYSE:AME) last announced its quarterly earnings results on Thursday, October 31st. The technology company reported $1.66 earnings per share (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 company had revenue of $1.71 billion for the quarter, compared to the consensus estimate of $1.71 billion. During the same quarter in the prior year, the firm earned $1.64 earnings per share. The company’s revenue for the quarter was up 5.3% compared to the same quarter last year. On average, equities research analysts predict that AMETEK, Inc. will post 6.8 EPS for the current fiscal year.

AMETEK Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, December 20th. Stockholders of record on Friday, December 6th will be issued a $0.28 dividend. The ex-dividend date 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 (DPR) is 19.51%.

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.