AMETEK, Inc. (NYSE:AME) Position Lessened by Seascape Capital Management

Seascape Capital Management lowered its position in AMETEK, Inc. (NYSE:AME) by 0.9% during the third quarter, HoldingsChannel.com reports. The firm owned 15,530 shares of the technology company’s stock after selling 139 shares during the quarter. Seascape Capital Management’s holdings in AMETEK were worth $2,667,000 as of its most recent SEC filing.

Several other hedge funds also recently bought and sold shares of the company. Leavell Investment Management Inc. grew its position in AMETEK by 7.3% in the third quarter. Leavell Investment Management Inc. now owns 4,456 shares of the technology company’s stock worth $765,000 after acquiring an additional 304 shares in the last quarter. Portside Wealth Group LLC raised its holdings in shares of AMETEK by 15.7% during the 3rd quarter. Portside Wealth Group LLC now owns 3,056 shares of the technology company’s stock valued at $525,000 after purchasing an additional 415 shares in the last quarter. Principal Financial Group Inc. lifted its stake in shares of AMETEK by 72.0% in 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 purchasing an additional 703,501 shares during the last quarter. WoodTrust Financial Corp boosted its holdings in AMETEK by 9.2% in the third quarter. WoodTrust Financial Corp now owns 11,849 shares of the technology company’s stock worth $2,034,000 after purchasing an additional 1,000 shares in the last quarter. Finally, Harvest Portfolios Group Inc. increased its position in AMETEK by 24.4% during the third quarter. Harvest Portfolios Group Inc. now owns 6,207 shares of the technology company’s stock worth $1,066,000 after buying an additional 1,218 shares during the last quarter. 87.43% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at AMETEK

In other news, Director Steven W. Kohlhagen sold 1,460 shares of the firm’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 completion of the transaction, the director now directly owns 23,349 shares of the company’s stock, valued at approximately $4,006,454.91. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 0.61% of the company’s stock.

AMETEK Stock Performance

NYSE:AME opened at $191.00 on Friday. The firm’s 50-day moving average is $170.91 and its 200-day moving average is $169.29. The company has a market cap of $44.18 billion, a price-to-earnings ratio of 33.28, a PEG ratio of 2.94 and a beta of 1.16. The company has a debt-to-equity ratio of 0.18, a quick ratio of 0.84 and a current ratio of 1.39. AMETEK, Inc. has a 52-week low of $147.12 and a 52-week high of $192.20.

AMETEK (NYSE:AME) last released its earnings results on Thursday, October 31st. The technology company reported $1.66 earnings per share for the quarter, topping analysts’ consensus estimates of $1.62 by $0.04. AMETEK had a return on equity of 16.88% and a net margin of 19.27%. The business had revenue of $1.71 billion for the quarter, compared to the consensus estimate of $1.71 billion. During the same period last year, the business earned $1.64 earnings per share. The firm’s revenue for the quarter was up 5.3% compared to the same quarter last year. Equities research analysts anticipate that AMETEK, Inc. will post 6.81 earnings per share for the current year.

AMETEK Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, December 20th. Investors of record on Friday, December 6th will be given a $0.28 dividend. This represents a $1.12 annualized dividend and a yield of 0.59%. AMETEK’s dividend payout ratio (DPR) is currently 19.51%.

Analysts Set New Price Targets

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