Everence Capital Management Inc. Invests $999,000 in AMETEK, Inc. (NYSE:AME)

Everence Capital Management Inc. purchased a new stake in shares of AMETEK, Inc. (NYSE:AME - Free Report) in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund purchased 5,540 shares of the technology company's stock, valued at approximately $999,000.

Other institutional investors have also recently bought and sold shares of the company. Oddo BHF Asset Management Sas purchased a new position in shares of AMETEK during the third quarter valued at approximately $3,724,000. BNP Paribas Financial Markets lifted its stake in AMETEK by 23.2% during the 3rd quarter. BNP Paribas Financial Markets now owns 355,828 shares of the technology company's stock valued at $61,099,000 after acquiring an additional 67,025 shares in the last quarter. Sawgrass Asset Management LLC boosted its holdings in AMETEK by 36.5% during the 3rd quarter. Sawgrass Asset Management LLC now owns 74,757 shares of the technology company's stock worth $12,837,000 after acquiring an additional 20,001 shares during the last quarter. Taurus Asset Management LLC boosted its holdings in AMETEK by 2.9% during the 3rd quarter. Taurus Asset Management LLC now owns 115,033 shares of the technology company's stock worth $19,752,000 after acquiring an additional 3,210 shares during the last quarter. Finally, Dudley & Shanley Inc. grew its stake in shares of AMETEK by 11.3% in the 3rd quarter. Dudley & Shanley Inc. now owns 139,434 shares of the technology company's stock worth $23,942,000 after acquiring an additional 14,105 shares in the last quarter. Institutional investors and hedge funds own 87.43% of the company's stock.

Wall Street Analysts Forecast Growth

AME has been the topic of several analyst reports. Robert W. Baird boosted their price target on shares of AMETEK from $166.00 to $186.00 and gave the stock a "neutral" rating in a report on Monday, November 4th. TD Cowen downgraded AMETEK from a "hold" rating to a "sell" rating in a research note on Monday, October 7th. Truist Financial increased their price target on AMETEK from $219.00 to $221.00 and gave the company a "buy" rating in a research report on Friday, November 1st. Wolfe Research raised AMETEK to a "hold" rating in a research report on Wednesday, September 18th. Finally, StockNews.com downgraded AMETEK from a "buy" rating to a "hold" rating in a research note on Wednesday. One analyst has rated the stock with a sell rating, three have issued a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of $202.50.

Insider Buying and Selling at AMETEK

In other news, insider David F. Hermance sold 6,243 shares of the company's stock in a transaction dated Friday, November 8th. The stock was sold at an average price of $190.99, for a total transaction of $1,192,350.57. Following the sale, the insider now directly owns 36,731 shares in the company, valued at $7,015,253.69. This represents a 14.53 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Also, insider Emanuela Speranza sold 6,747 shares of the stock in a transaction dated Tuesday, November 26th. The stock was sold at an average price of $195.90, for a total transaction of $1,321,737.30. Following the completion of the sale, the insider now directly owns 30,460 shares in the company, valued at approximately $5,967,114. The trade was a 18.13 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 29,200 shares of company stock valued at $5,707,620 in the last 90 days. 0.61% of the stock is currently owned by company insiders.

AMETEK Stock Performance

NYSE:AME traded up $1.24 during trading hours on Friday, reaching $179.57. The stock had a trading volume of 540,486 shares, compared to its average volume of 627,093. AMETEK, Inc. has a 12-month low of $149.03 and a 12-month high of $198.33. The company has a debt-to-equity ratio of 0.18, a quick ratio of 0.84 and a current ratio of 1.39. The stock has a 50 day simple moving average of $187.38 and a 200 day simple moving average of $174.43. The stock has a market cap of $41.54 billion, a P/E ratio of 31.28, a price-to-earnings-growth ratio of 3.08 and a beta of 1.16.

AMETEK (NYSE:AME - Get Free Report) last announced its quarterly earnings data on Thursday, October 31st. The technology company reported $1.66 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.62 by $0.04. The business had revenue of $1.71 billion for 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 firm's quarterly revenue was up 5.3% compared to the same quarter last year. During the same period in the previous year, the business posted $1.64 EPS. On average, research analysts forecast that AMETEK, Inc. will post 6.8 EPS for the current fiscal year.

AMETEK Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, December 20th. Investors of record on Friday, December 6th were paid a $0.28 dividend. The ex-dividend date of this dividend was Friday, December 6th. This represents a $1.12 dividend on an annualized basis and a yield of 0.62%. AMETEK's dividend payout ratio is 19.51%.

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.