Carret Asset Management LLC Trims Stake in AMETEK, Inc. (NYSE:AME)

Carret Asset Management LLC reduced its stake in AMETEK, Inc. (NYSE:AME) by 5.1% during the 1st quarter, Holdings Channel reports. The institutional investor owned 10,150 shares of the technology company’s stock after selling 550 shares during the period. Carret Asset Management LLC’s holdings in AMETEK were worth $1,856,000 at the end of the most recent quarter.

A number of other large investors also recently bought and sold shares of the stock. M&T Bank Corp raised its holdings in shares of AMETEK by 0.5% in the 4th quarter. M&T Bank Corp now owns 15,442 shares of the technology company’s stock valued at $2,547,000 after buying an additional 73 shares during the period. Provence Wealth Management Group lifted its position in shares of AMETEK by 5.5% during the fourth quarter. Provence Wealth Management Group now owns 1,435 shares of the technology company’s stock worth $237,000 after purchasing an additional 75 shares in the last quarter. Metis Global Partners LLC boosted its stake in shares of AMETEK by 0.5% in the fourth quarter. Metis Global Partners LLC now owns 15,934 shares of the technology company’s stock valued at $2,627,000 after purchasing an additional 82 shares during the period. B. Riley Wealth Advisors Inc. grew its holdings in shares of AMETEK by 4.6% in the third quarter. B. Riley Wealth Advisors Inc. now owns 1,919 shares of the technology company’s stock valued at $284,000 after purchasing an additional 85 shares in the last quarter. Finally, Venturi Wealth Management LLC increased its stake in AMETEK by 2.7% during the 4th quarter. Venturi Wealth Management LLC now owns 3,203 shares of the technology company’s stock worth $528,000 after buying an additional 85 shares during the period. Institutional investors and hedge funds own 87.43% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have commented on AME shares. StockNews.com cut shares of AMETEK from a “buy” rating to a “hold” rating in a research report on Tuesday, June 18th. Robert W. Baird decreased their price objective on AMETEK from $173.00 to $171.00 and set a “neutral” rating for the company in a research note on Monday, May 6th. Truist Financial reduced their target price on shares of AMETEK from $210.00 to $204.00 and set a “buy” rating on the stock in a report on Tuesday. Finally, Oppenheimer upgraded shares of AMETEK from a “market perform” rating to an “outperform” rating and set a $200.00 price target for the company in a report on Wednesday, May 22nd. Four equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. According to data from MarketBeat, AMETEK presently has a consensus rating of “Moderate Buy” and a consensus price target of $181.20.

AMETEK Stock Performance

AME stock traded up $0.20 on Wednesday, hitting $166.30. The company’s stock had a trading volume of 531,310 shares, compared to its average volume of 1,051,895. AMETEK, Inc. has a 1 year low of $136.89 and a 1 year high of $186.32. The company has a current ratio of 1.11, a quick ratio of 0.66 and a debt-to-equity ratio of 0.21. The stock has a market cap of $38.49 billion, a price-to-earnings ratio of 29.34, a price-to-earnings-growth ratio of 2.67 and a beta of 1.18. The firm has a 50 day moving average of $170.09 and a two-hundred day moving average of $171.77.

AMETEK (NYSE:AME) last released its quarterly earnings results on Thursday, May 2nd. The technology company reported $1.64 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.59 by $0.05. The firm had revenue of $1.74 billion for the quarter, compared to analyst estimates of $1.78 billion. AMETEK had a return on equity of 17.74% and a net margin of 19.57%. The business’s revenue was up 9.0% on a year-over-year basis. During the same quarter last year, the company posted $1.49 earnings per share. Equities analysts predict that AMETEK, Inc. will post 6.83 EPS for the current fiscal year.

AMETEK Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, June 28th. Stockholders of record on Friday, June 14th were paid a dividend of $0.28 per share. The ex-dividend date was Friday, June 14th. This represents a $1.12 dividend on an annualized basis and a dividend yield of 0.67%. AMETEK’s dividend payout ratio (DPR) is 19.68%.

Insider Buying and Selling

In other AMETEK news, Director Steven W. Kohlhagen sold 1,440 shares of the business’s stock in a transaction that occurred on Wednesday, June 12th. The stock was sold at an average price of $173.93, for a total transaction of $250,459.20. Following the transaction, the director now owns 24,809 shares in the company, valued at approximately $4,315,029.37. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, Director Steven W. Kohlhagen sold 1,440 shares of the company’s stock in a transaction on Wednesday, June 12th. The shares were sold at an average price of $173.93, for a total transaction of $250,459.20. Following the transaction, the director now directly owns 24,809 shares of the company’s stock, valued at approximately $4,315,029.37. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Steven W. Kohlhagen sold 1,470 shares of the firm’s stock in a transaction dated Wednesday, May 15th. The shares were sold at an average price of $170.20, for a total transaction of $250,194.00. Following the completion of the sale, the director now owns 26,249 shares of the company’s stock, valued at approximately $4,467,579.80. The disclosure for this sale can be found here. 0.61% of the stock is currently owned by corporate insiders.

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.