Barclays PLC Sells 36,909 Shares of AMETEK, Inc. (NYSE:AME)

Barclays PLC lowered its stake in shares of AMETEK, Inc. (NYSE:AME) by 5.5% during the third quarter, Holdings Channel.com reports. The institutional investor owned 631,333 shares of the technology company’s stock after selling 36,909 shares during the quarter. Barclays PLC’s holdings in AMETEK were worth $108,405,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of AME. Itau Unibanco Holding S.A. increased its stake in AMETEK by 62.6% in the third quarter. Itau Unibanco Holding S.A. now owns 200 shares of the technology company’s stock valued at $34,000 after purchasing an additional 77 shares in the last quarter. Family Firm Inc. acquired a new position in shares of AMETEK in the 2nd quarter valued at $39,000. Industrial Alliance Investment Management Inc. bought a new stake in shares of AMETEK in the 2nd quarter valued at $42,000. Princeton Global Asset Management LLC acquired a new stake in AMETEK during the 3rd quarter worth $44,000. Finally, Crewe Advisors LLC lifted its holdings in AMETEK by 168.8% during the second quarter. Crewe Advisors LLC now owns 293 shares of the technology company’s stock worth $49,000 after acquiring an additional 184 shares in the last quarter. 87.43% of the stock is owned by institutional investors.

AMETEK Trading Down 0.7 %

AMETEK stock opened at $188.63 on Wednesday. The company has a market cap of $43.63 billion, a price-to-earnings ratio of 32.86, a P/E/G ratio of 3.13 and a beta of 1.15. The firm has a 50-day moving average of $181.68 and a 200-day moving average of $172.62. 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, Inc. has a one year low of $149.03 and a one year high of $198.33.

AMETEK (NYSE:AME) last issued its quarterly earnings results on Thursday, October 31st. The technology company reported $1.66 EPS for the quarter, beating the consensus estimate of $1.62 by $0.04. The firm had revenue of $1.71 billion during the quarter, compared to analysts’ expectations of $1.71 billion. AMETEK had a return on equity of 16.88% and a net margin of 19.27%. The business’s quarterly revenue was up 5.3% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.64 earnings per share. On average, equities analysts expect that AMETEK, Inc. will post 6.8 earnings per share for the current fiscal year.

AMETEK Dividend Announcement

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

Analysts Set New Price Targets

A number of research firms have recently commented on AME. Wolfe Research raised AMETEK to a “hold” rating in a research report on Wednesday, September 18th. KeyCorp raised their target price on shares of AMETEK from $205.00 to $215.00 and gave the stock an “overweight” rating in a report on Friday, November 22nd. Truist Financial upped their price target on shares of AMETEK from $219.00 to $221.00 and gave the company a “buy” rating in a report on Friday, November 1st. Robert W. Baird raised their price objective on shares of AMETEK from $166.00 to $186.00 and gave the stock a “neutral” rating in a report on Monday, November 4th. Finally, TD Cowen lowered shares of AMETEK from a “hold” rating to a “sell” rating in a research note on Monday, October 7th. One analyst has rated the stock with a sell rating, two have given a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $199.29.

Insiders Place Their Bets

In other AMETEK news, insider Tony J. Ciampitti sold 16,210 shares of the company’s stock in a transaction that occurred on Friday, November 22nd. The stock was sold at an average price of $197.01, for a total value of $3,193,532.10. Following the sale, the insider now owns 49,490 shares in the company, valued at $9,750,024.90. This represents a 24.67 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Steven W. Kohlhagen sold 1,460 shares of AMETEK stock in a transaction that occurred on 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 $4,006,454.91. This represents a 5.88 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 30,660 shares of company stock valued at $5,958,141. 0.61% of the stock is currently owned by corporate insiders.

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.