AMETEK, Inc. (NYSE:AME) Shares Bought by Sumitomo Life Insurance Co.

Sumitomo Life Insurance Co. lifted its holdings in shares of AMETEK, Inc. (NYSE:AME) by 2.4% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 11,523 shares of the technology company’s stock after purchasing an additional 266 shares during the period. Sumitomo Life Insurance Co.’s holdings in AMETEK were worth $1,979,000 as of its most recent SEC filing.

Several other institutional investors have also recently modified their holdings of the stock. JPMorgan Chase & Co. lifted its holdings in AMETEK by 48.4% in the 1st quarter. JPMorgan Chase & Co. now owns 7,075,565 shares of the technology company’s stock valued at $1,294,121,000 after purchasing an additional 2,306,535 shares in the last quarter. Price T Rowe Associates Inc. MD raised its position in shares of AMETEK by 0.7% in the first quarter. Price T Rowe Associates Inc. MD now owns 6,536,231 shares of the technology company’s stock valued at $1,195,478,000 after buying an additional 44,899 shares during the last quarter. Bank of New York Mellon Corp raised its position in shares of 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 valued at $600,615,000 after buying an additional 926,657 shares during the last quarter. Boston Partners lifted its stake in shares of AMETEK by 3.0% during the first quarter. Boston Partners now owns 3,063,588 shares of the technology company’s stock valued at $560,278,000 after buying an additional 90,271 shares during the period. Finally, Flossbach Von Storch AG boosted its position in AMETEK by 3.4% during the first quarter. Flossbach Von Storch AG now owns 2,673,507 shares of the technology company’s stock worth $488,984,000 after acquiring an additional 87,477 shares during the last quarter. 87.43% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

AME has been the subject of several analyst reports. Truist Financial boosted their price target on AMETEK from $201.00 to $219.00 and gave the company a “buy” rating in a report on Wednesday, October 9th. Redburn Atlantic raised AMETEK to a “strong-buy” rating in a research note on Friday, August 2nd. Wolfe Research raised shares of AMETEK to a “hold” rating in a research note on Wednesday, September 18th. Royal Bank of Canada decreased their target price on shares of AMETEK from $216.00 to $215.00 and set an “outperform” rating on the stock in a research report on Friday, August 2nd. Finally, TD Cowen lowered shares of AMETEK from a “hold” rating to a “sell” rating in a research report on Monday, October 7th. One analyst has rated the stock with a sell rating, three have assigned a hold rating, four have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, AMETEK currently has an average rating of “Moderate Buy” and an average target price of $193.83.

Insiders Place Their Bets

In other news, Director Steven W. Kohlhagen sold 1,460 shares of the stock in a transaction dated 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 owns 23,349 shares in the company, valued at approximately $4,006,454.91. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 0.61% of the stock is currently owned by insiders.

AMETEK Stock Up 0.2 %

Shares of NYSE:AME opened at $169.71 on Thursday. The stock has a 50-day simple moving average of $167.42 and a 200-day simple moving average of $169.77. The stock has a market capitalization of $39.28 billion, a P/E ratio of 29.83, a PEG ratio of 2.77 and a beta of 1.17. AMETEK, Inc. has a 1 year low of $136.89 and a 1 year high of $186.32. The company has a debt-to-equity ratio of 0.20, a quick ratio of 0.76 and a current ratio of 1.26.

AMETEK (NYSE:AME) last released its quarterly earnings data on Thursday, August 1st. The technology company reported $1.66 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.64 by $0.02. AMETEK had a net margin of 19.51% and a return on equity of 17.41%. The company had revenue of $1.73 billion during the quarter, compared to the consensus estimate of $1.78 billion. During the same period in the previous year, the firm earned $1.57 earnings per share. AMETEK’s revenue for the quarter was up 5.4% on a year-over-year basis. Equities analysts forecast that AMETEK, Inc. will post 6.76 earnings per share for the current year.

AMETEK Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, September 30th. Shareholders of record on Monday, September 16th were given a $0.28 dividend. This represents a $1.12 annualized dividend and a yield of 0.66%. The ex-dividend date was Monday, September 16th. AMETEK’s dividend payout ratio (DPR) is presently 19.68%.

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.