AMETEK, Inc. (NYSE:AME) Shares Sold by Congress Asset Management Co.

Congress Asset Management Co. reduced its position in AMETEK, Inc. (NYSE:AME) by 0.8% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 78,479 shares of the technology company’s stock after selling 656 shares during the period. Congress Asset Management Co.’s holdings in AMETEK were worth $13,476,000 at the end of the most recent quarter.

Several other large investors also recently modified their holdings of AME. HM Payson & Co. boosted its holdings in AMETEK by 3.9% in the third quarter. HM Payson & Co. now owns 526,832 shares of the technology company’s stock valued at $90,462,000 after purchasing an additional 19,873 shares during the last quarter. Davis Rea LTD. acquired a new position in shares of AMETEK in the 3rd quarter valued at approximately $859,000. Catalyst Financial Partners LLC acquired a new position in shares of AMETEK in the 3rd quarter valued at approximately $202,000. Financial Advocates Investment Management increased its stake in shares of AMETEK by 5.9% in the third quarter. Financial Advocates Investment Management now owns 2,183 shares of the technology company’s stock worth $375,000 after buying an additional 122 shares during the last quarter. Finally, First Trust Direct Indexing L.P. raised its holdings in AMETEK by 28.4% in the third quarter. First Trust Direct Indexing L.P. now owns 8,781 shares of the technology company’s stock valued at $1,508,000 after acquiring an additional 1,941 shares in the last quarter. 87.43% of the stock is currently owned by institutional investors and hedge funds.

AMETEK Trading Up 8.6 %

Shares of AMETEK stock opened at $183.40 on Friday. The business has a fifty day simple moving average of $168.95 and a 200-day simple moving average of $169.00. AMETEK, Inc. has a fifty-two week low of $136.89 and a fifty-two week high of $186.32. The firm has a market cap of $42.45 billion, a price-to-earnings ratio of 32.23, a price-to-earnings-growth ratio of 2.77 and a beta of 1.17. The company has a quick ratio of 0.76, a current ratio of 1.26 and a debt-to-equity ratio of 0.20.

AMETEK (NYSE:AME) last issued its earnings results on Thursday, August 1st. The technology company reported $1.66 earnings per share for the quarter, topping analysts’ consensus estimates of $1.64 by $0.02. The firm had revenue of $1.73 billion during the quarter, compared to analysts’ expectations of $1.78 billion. AMETEK had a net margin of 19.51% and a return on equity of 17.41%. The firm’s revenue for the quarter was up 5.4% compared to the same quarter last year. During the same period last year, the firm posted $1.57 earnings per share. On average, equities analysts forecast that AMETEK, Inc. will post 6.76 EPS for the current fiscal year.

AMETEK Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, September 30th. Investors of record on Monday, September 16th were issued a $0.28 dividend. This represents a $1.12 dividend on an annualized basis and a dividend yield of 0.61%. The ex-dividend date of this dividend was Monday, September 16th. AMETEK’s payout ratio is 19.68%.

Insider Transactions at AMETEK

In related news, Director Steven W. Kohlhagen sold 1,460 shares of AMETEK 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 transaction, the director now 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 sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 0.61% of the stock is owned by insiders.

Analyst Ratings Changes

Several research analysts have weighed in on the stock. Robert W. Baird decreased their price objective on shares of AMETEK from $171.00 to $166.00 and set a “neutral” rating for the company in a report on Wednesday, August 7th. Mizuho lifted their target price on AMETEK from $180.00 to $190.00 and gave the stock an “outperform” rating in a research report on Thursday, October 17th. Truist Financial upped their price target on AMETEK from $201.00 to $219.00 and gave the company a “buy” rating in a research report on Wednesday, October 9th. TD Cowen lowered shares of AMETEK from a “hold” rating to a “sell” rating in a research note on Monday, October 7th. Finally, Royal Bank of Canada lowered their price objective on shares of AMETEK from $216.00 to $215.00 and set an “outperform” rating for the company in a research report on Friday, August 2nd. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $193.29.

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.