D1 Capital Partners L.P. Invests $79.78 Million in AMETEK, Inc. (NYSE:AME)

D1 Capital Partners L.P. purchased a new stake in AMETEK, Inc. (NYSE:AME) in the 3rd quarter, HoldingsChannel.com reports. The fund purchased 464,633 shares of the technology company’s stock, valued at approximately $79,782,000. AMETEK comprises approximately 1.5% of D1 Capital Partners L.P.’s investment portfolio, making the stock its 22nd largest holding.

Several other large investors have also recently added to or reduced their stakes in the company. Public Sector Pension Investment Board raised its holdings in AMETEK by 12.3% in the 3rd quarter. Public Sector Pension Investment Board now owns 10,067 shares of the technology company’s stock valued at $1,729,000 after acquiring an additional 1,100 shares in the last quarter. Fiduciary Trust Co raised its holdings in shares of AMETEK by 19.5% in the 3rd quarter. Fiduciary Trust Co now owns 1,535 shares of the technology company’s stock worth $264,000 after buying an additional 250 shares in the last quarter. FORA Capital LLC raised its holdings in shares of AMETEK by 395.1% in the 3rd quarter. FORA Capital LLC now owns 26,039 shares of the technology company’s stock worth $4,471,000 after buying an additional 20,780 shares in the last quarter. CreativeOne Wealth LLC acquired a new position in shares of AMETEK in the 3rd quarter worth approximately $372,000. Finally, Townsquare Capital LLC raised its holdings in shares of AMETEK by 9.3% in the 3rd quarter. Townsquare Capital LLC now owns 35,678 shares of the technology company’s stock worth $6,126,000 after buying an additional 3,041 shares in the last quarter. Institutional investors and hedge funds own 87.43% of the company’s stock.

Insider Buying and Selling at AMETEK

In other news, insider Tony J. Ciampitti sold 16,210 shares of the firm’s stock in a transaction 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 transaction, the insider now directly owns 49,490 shares in the company, valued at $9,750,024.90. This trade represents a 24.67 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Steven W. Kohlhagen sold 1,460 shares of the firm’s stock in a transaction 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 completion of the transaction, the director now owns 23,349 shares in the company, 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. In the last ninety days, insiders have sold 30,660 shares of company stock worth $5,958,141. Insiders own 0.61% of the company’s stock.

AMETEK Stock Down 1.0 %

NYSE AME opened at $195.10 on Friday. The firm has a market cap of $45.13 billion, a PE ratio of 33.99, a price-to-earnings-growth ratio of 3.22 and a beta of 1.16. AMETEK, Inc. has a one year low of $149.03 and a one year high of $198.33. The stock’s 50 day simple moving average is $178.58 and its 200 day simple moving average is $171.43. 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 (NYSE:AME) last announced its quarterly earnings data on Thursday, October 31st. The technology company reported $1.66 EPS for the quarter, beating analysts’ consensus estimates of $1.62 by $0.04. The firm had revenue of $1.71 billion for the quarter, compared to analyst estimates 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 last year, the company earned $1.64 EPS. As a group, sell-side analysts forecast that AMETEK, Inc. will post 6.8 earnings per share for the current fiscal year.

AMETEK Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 20th. Shareholders of record on Friday, December 6th will be given a $0.28 dividend. The ex-dividend date of this dividend is Friday, December 6th. This represents a $1.12 dividend on an annualized basis and a yield of 0.57%. AMETEK’s payout ratio is 19.51%.

Analyst Ratings Changes

A number of equities analysts have recently issued reports on the company. StockNews.com cut AMETEK from a “buy” rating to a “hold” rating in a report on Friday, November 15th. Robert W. Baird increased their target price on AMETEK from $166.00 to $186.00 and gave the stock a “neutral” rating in a report on Monday, November 4th. Truist Financial increased their target price on AMETEK from $219.00 to $221.00 and gave the stock a “buy” rating in a report on Friday, November 1st. Mizuho increased their target price on AMETEK from $190.00 to $200.00 and gave the stock an “outperform” rating in a report on Friday, November 1st. Finally, Wolfe Research upgraded AMETEK to a “hold” rating in a research report on Wednesday, September 18th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating, five have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $199.29.

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.