Waldron Private Wealth LLC Sells 190 Shares of AMETEK, Inc. (NYSE:AME)

Waldron Private Wealth LLC cut its stake in AMETEK, Inc. (NYSE:AME) by 2.5% in the fourth quarter, HoldingsChannel reports. The institutional investor owned 7,345 shares of the technology company’s stock after selling 190 shares during the quarter. Waldron Private Wealth LLC’s holdings in AMETEK were worth $1,324,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also modified their holdings of the stock. EdgePoint Investment Group Inc. raised its stake in AMETEK by 87.9% during the third quarter. EdgePoint Investment Group Inc. now owns 1,964,236 shares of the technology company’s stock worth $337,279,000 after acquiring an additional 918,737 shares in the last quarter. Meridiem Investment Management Ltd. acquired a new stake in shares of AMETEK during the 3rd quarter worth about $130,579,000. Principal Financial Group Inc. boosted its position in AMETEK by 72.0% in the third quarter. Principal Financial Group Inc. now owns 1,680,309 shares of the technology company’s stock valued at $288,526,000 after buying an additional 703,501 shares in the last quarter. D1 Capital Partners L.P. bought a new stake in AMETEK during the third quarter worth about $79,782,000. Finally, Assenagon Asset Management S.A. increased its holdings in shares of AMETEK by 434.5% during the fourth quarter. Assenagon Asset Management S.A. now owns 541,517 shares of the technology company’s stock worth $97,614,000 after buying an additional 440,197 shares in the last quarter. Institutional investors own 87.43% of the company’s stock.

AMETEK Trading Down 0.7 %

NYSE:AME opened at $184.66 on Friday. 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 business’s 50-day simple moving average is $185.69 and its 200-day simple moving average is $176.31. AMETEK, Inc. has a fifty-two week low of $149.03 and a fifty-two week high of $198.33. The stock has a market capitalization of $42.71 billion, a PE ratio of 32.17, a price-to-earnings-growth ratio of 2.64 and a beta of 1.16.

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

AMETEK Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, December 20th. Shareholders of record on Friday, December 6th were paid a $0.28 dividend. This represents a $1.12 annualized dividend and a dividend yield of 0.61%. The ex-dividend date was Friday, December 6th. AMETEK’s dividend payout ratio is 19.51%.

Analyst Upgrades and Downgrades

AME has been the topic of a number of research analyst reports. KeyCorp increased their price target on AMETEK from $205.00 to $215.00 and gave the stock an “overweight” rating in a research report on Friday, November 22nd. Robert W. Baird boosted their price objective on shares of AMETEK from $166.00 to $186.00 and gave the stock a “neutral” rating in a research report on Monday, November 4th. BNP Paribas raised AMETEK from a “neutral” rating to an “outperform” rating and set a $210.00 price objective for the company in a report on Thursday, January 16th. TD Cowen downgraded AMETEK from a “hold” rating to a “sell” rating in a research note on Monday, October 7th. Finally, StockNews.com upgraded AMETEK from a “hold” rating to a “buy” rating in a report on Tuesday. One research analyst has rated the stock with a sell rating, two have assigned a hold rating, eight have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $203.44.

Insider Activity

In other AMETEK news, insider David F. Hermance sold 6,243 shares of AMETEK stock in a transaction on Friday, November 8th. The shares were 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 in the company, valued at approximately $7,015,253.69. The trade was a 14.53 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Emanuela Speranza sold 6,747 shares of the stock in a transaction that occurred on Tuesday, November 26th. The shares were sold at an average price of $195.90, for a total value of $1,321,737.30. Following the transaction, the insider now directly owns 30,460 shares of the company’s stock, valued at $5,967,114. This trade represents a 18.13 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 29,200 shares of company stock worth $5,707,620 over the last three months. Corporate insiders own 0.61% of the company’s stock.

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.