AMETEK, Inc. (NYSE:AME) Shares Sold by Amalgamated Bank

Amalgamated Bank trimmed its stake in shares of AMETEK, Inc. (NYSE:AME) by 1.3% in the third quarter, Holdings Channel.com reports. The fund owned 46,072 shares of the technology company’s stock after selling 630 shares during the period. Amalgamated Bank’s holdings in AMETEK were worth $7,911,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently modified their holdings of AME. Washington Trust Advisors Inc. acquired a new stake in shares of AMETEK during the 1st quarter valued at approximately $37,000. Family Firm Inc. acquired a new stake in shares of AMETEK during the 2nd quarter valued at approximately $39,000. Industrial Alliance Investment Management Inc. acquired a new stake in shares of AMETEK during the 2nd quarter valued at approximately $42,000. Headlands Technologies LLC acquired a new stake in shares of AMETEK during the 1st quarter valued at approximately $43,000. Finally, Princeton Global Asset Management LLC acquired a new stake in shares of AMETEK during the 3rd quarter valued at approximately $44,000. 87.43% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at AMETEK

In related news, Director Steven W. Kohlhagen sold 1,460 shares of AMETEK stock in a transaction on 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 approximately $4,006,454.91. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Company insiders own 0.61% of the company’s stock.

AMETEK Stock Up 4.6 %

Shares of NYSE AME opened at $190.41 on Thursday. AMETEK, Inc. has a 52-week low of $141.65 and a 52-week high of $192.20. The firm has a fifty day moving average of $170.12 and a 200-day moving average of $169.06. The stock has a market capitalization of $44.04 billion, a PE ratio of 33.17, a P/E/G ratio of 2.91 and a beta of 1.16. 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 data 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 during the quarter, compared to analysts’ expectations of $1.71 billion. During the same period in the previous year, the company earned $1.64 EPS. The business’s quarterly revenue was up 5.3% compared to the same quarter last year. On average, analysts anticipate that AMETEK, Inc. will post 6.81 EPS for the current year.

Wall Street Analyst Weigh In

A number of research analysts have recently weighed in on AME shares. Truist Financial raised their price objective on shares of AMETEK from $219.00 to $221.00 and gave the stock a “buy” rating in a research note on Friday, November 1st. Wolfe Research raised shares of AMETEK to a “hold” rating in a research note on Wednesday, September 18th. Mizuho raised their price objective on shares of AMETEK from $190.00 to $200.00 and gave the stock an “outperform” rating in a research note on Friday, November 1st. Royal Bank of Canada dropped their price objective on shares of AMETEK from $216.00 to $215.00 and set an “outperform” rating for the company in a research note on Friday, August 2nd. Finally, StockNews.com raised shares of AMETEK from a “hold” rating to a “buy” rating in a research note on Monday. One research analyst has rated the stock with a sell rating, two have assigned a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, AMETEK has a consensus rating of “Moderate Buy” and an average price target of $197.86.

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.