Atlantic Union Bankshares Corp Sells 2,191 Shares of AMETEK, Inc. (NYSE:AME)

Atlantic Union Bankshares Corp cut its position in shares of AMETEK, Inc. (NYSE:AME) by 7.3% in the third quarter, Holdings Channel.com reports. The institutional investor owned 27,972 shares of the technology company’s stock after selling 2,191 shares during the period. Atlantic Union Bankshares Corp’s holdings in AMETEK were worth $4,803,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Bank of New York Mellon Corp boosted its stake in AMETEK by 34.6% during the second quarter. Bank of New York Mellon Corp now owns 3,602,753 shares of the technology company’s stock valued at $600,615,000 after buying an additional 926,657 shares during the last quarter. Dimensional Fund Advisors LP lifted its stake in shares of AMETEK by 8.6% in the 2nd quarter. Dimensional Fund Advisors LP now owns 1,882,166 shares of the technology company’s stock valued at $313,777,000 after purchasing an additional 148,447 shares during 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. Kayne Anderson Rudnick Investment Management LLC lifted its stake in shares of AMETEK by 12.6% in the 2nd quarter. Kayne Anderson Rudnick Investment Management LLC now owns 1,660,133 shares of the technology company’s stock valued at $276,761,000 after purchasing an additional 186,263 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its stake in shares of AMETEK by 1.5% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,291,649 shares of the technology company’s stock valued at $221,789,000 after purchasing an additional 19,435 shares during the last quarter. 87.43% of the stock is owned by institutional investors.

Insider Activity

In other news, Director Steven W. Kohlhagen sold 1,460 shares of the business’s stock in a transaction dated Wednesday, September 25th. The shares were 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 owns 23,349 shares in the company, valued at approximately $4,006,454.91. The trade was a 5.88 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Tony J. Ciampitti sold 16,210 shares of the business’s stock in a transaction dated Friday, November 22nd. The shares were sold at an average price of $197.01, for a total transaction of $3,193,532.10. Following the completion of the sale, the insider now owns 49,490 shares of the company’s stock, valued at approximately $9,750,024.90. This represents a 24.67 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 30,660 shares of company stock worth $5,958,141. 0.61% of the stock is currently owned by corporate insiders.

AMETEK Trading Down 1.0 %

Shares of AME opened at $195.10 on Friday. AMETEK, Inc. has a 1-year low of $149.03 and a 1-year high of $198.33. The company has a 50-day moving average of $178.58 and a 200 day moving average of $171.43. The firm has a market capitalization of $45.13 billion, a price-to-earnings ratio of 33.99, a PEG ratio of 3.18 and a beta of 1.16. The company has a debt-to-equity ratio of 0.18, a current ratio of 1.39 and a quick ratio of 0.84.

AMETEK (NYSE:AME) last announced its quarterly earnings data on Thursday, October 31st. The technology company reported $1.66 earnings per share for the quarter, beating analysts’ consensus estimates 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 analyst estimates of $1.71 billion. During the same quarter last year, the business posted $1.64 EPS. The firm’s revenue for the quarter was up 5.3% on a year-over-year basis. On average, research analysts expect that AMETEK, Inc. will post 6.8 EPS for the current year.

AMETEK Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 20th. Investors of record on Friday, December 6th will be issued 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 yield of 0.57%. AMETEK’s payout ratio is 19.51%.

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on AME. Royal Bank of Canada lowered their price objective on AMETEK from $216.00 to $215.00 and set an “outperform” rating for the company in a research note on Friday, August 2nd. Redburn Atlantic raised AMETEK to a “strong-buy” rating in a research note on Friday, August 2nd. KeyCorp raised their price objective on AMETEK from $205.00 to $215.00 and gave the company an “overweight” rating in a research note on Friday, November 22nd. Truist Financial raised their price objective on AMETEK from $219.00 to $221.00 and gave the company a “buy” rating in a research note on Friday, November 1st. Finally, 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. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating, five have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $199.29.

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.