Thrivent Financial for Lutherans Sells 36,433 Shares of AMETEK, Inc. (NYSE:AME)

Thrivent Financial for Lutherans trimmed its holdings in shares of AMETEK, Inc. (NYSE:AME) by 19.0% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 155,496 shares of the technology company’s stock after selling 36,433 shares during the quarter. Thrivent Financial for Lutherans owned 0.07% of AMETEK worth $26,700,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also made changes to their positions in the company. Family Firm Inc. bought a new stake in shares of AMETEK during the second quarter worth $39,000. Industrial Alliance Investment Management Inc. bought a new stake in shares of AMETEK during the second quarter worth $42,000. Princeton Global Asset Management LLC bought a new stake in shares of AMETEK during the third quarter worth $44,000. Crewe Advisors LLC lifted its position in shares of 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 purchasing an additional 184 shares during the last quarter. Finally, First Command Advisory Services Inc. bought a new stake in shares of AMETEK during the second quarter worth $50,000. 87.43% of the stock is currently owned by institutional investors.

AMETEK Price Performance

AME opened at $193.46 on Wednesday. The company has a debt-to-equity ratio of 0.18, a current ratio of 1.39 and a quick ratio of 0.84. The firm has a market capitalization of $44.75 billion, a PE ratio of 33.70, a price-to-earnings-growth ratio of 3.15 and a beta of 1.16. The business’s 50-day moving average is $174.74 and its two-hundred day moving average is $170.16. AMETEK, Inc. has a 1 year low of $149.03 and a 1 year high of $196.70.

AMETEK (NYSE:AME) last issued its quarterly earnings results on Thursday, October 31st. The technology company reported $1.66 earnings per share for the quarter, topping the consensus estimate of $1.62 by $0.04. The business had revenue of $1.71 billion during the quarter, compared to the consensus estimate of $1.71 billion. AMETEK had a return on equity of 16.88% and a net margin of 19.27%. The company’s quarterly revenue was up 5.3% on a year-over-year basis. During the same quarter last year, the company earned $1.64 earnings per share. Research analysts anticipate that AMETEK, Inc. will post 6.81 earnings per share for the current fiscal year.

AMETEK Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, December 20th. Shareholders of record on Friday, December 6th will be issued a $0.28 dividend. This represents a $1.12 annualized dividend and a yield of 0.58%. The ex-dividend date of this dividend is Friday, December 6th. AMETEK’s dividend payout ratio is presently 19.51%.

Insiders Place Their Bets

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 transaction of $250,521.40. Following the completion of the sale, the director now owns 23,349 shares of the company’s stock, valued at $4,006,454.91. The trade was a 5.88 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider David F. Hermance sold 6,243 shares of AMETEK stock in a transaction dated Friday, November 8th. The stock was sold at an average price of $190.99, for a total value of $1,192,350.57. Following the sale, the insider now directly owns 36,731 shares of the company’s stock, valued at $7,015,253.69. This trade represents a 14.53 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.61% of the company’s stock.

Analyst Ratings Changes

AME has been the topic of several research reports. Redburn Atlantic upgraded AMETEK to a “strong-buy” rating in a research note on Friday, August 2nd. Royal Bank of Canada cut their price target on AMETEK from $216.00 to $215.00 and set an “outperform” rating on the stock in a research note on Friday, August 2nd. Wolfe Research upgraded AMETEK to a “hold” rating in a research note on Wednesday, September 18th. Robert W. Baird raised their price target on AMETEK from $166.00 to $186.00 and gave the company a “neutral” rating in a research note on Monday, November 4th. Finally, Mizuho raised their price target on AMETEK from $190.00 to $200.00 and gave the company an “outperform” rating in a research note on Friday, November 1st. One research analyst has rated the stock with a sell rating, three have given a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, AMETEK has an average rating of “Moderate Buy” and an average price target of $197.86.

AMETEK Company 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.