AMETEK, Inc. (NYSE:AME) Shares Sold by QRG Capital Management Inc.

QRG Capital Management Inc. cut its stake in AMETEK, Inc. (NYSE:AME - Free Report) by 33.2% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 7,383 shares of the technology company's stock after selling 3,673 shares during the period. QRG Capital Management Inc.'s holdings in AMETEK were worth $1,268,000 at the end of the most recent quarter.

Other large investors also recently added to or reduced their stakes in the company. JPMorgan Chase & Co. boosted its position in AMETEK by 48.4% during the first quarter. JPMorgan Chase & Co. now owns 7,075,565 shares of the technology company's stock valued at $1,294,121,000 after purchasing an additional 2,306,535 shares in the last quarter. Price T Rowe Associates Inc. MD boosted its stake in AMETEK by 0.7% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 6,536,231 shares of the technology company's stock worth $1,195,478,000 after purchasing an additional 44,899 shares in the last quarter. Bank of New York Mellon Corp increased its stake in AMETEK by 34.6% during the 2nd quarter. Bank of New York Mellon Corp now owns 3,602,753 shares of the technology company's stock valued at $600,615,000 after purchasing an additional 926,657 shares in the last quarter. Boston Partners raised its holdings in shares of AMETEK by 3.0% in the first quarter. Boston Partners now owns 3,063,588 shares of the technology company's stock worth $560,278,000 after buying an additional 90,271 shares during the last quarter. Finally, Dimensional Fund Advisors LP lifted its stake in shares of AMETEK by 8.6% during the second quarter. Dimensional Fund Advisors LP now owns 1,882,166 shares of the technology company's stock worth $313,777,000 after buying an additional 148,447 shares during the period. 87.43% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other news, 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 transaction of $250,521.40. Following the sale, the director now owns 23,349 shares in the company, valued at $4,006,454.91. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 0.61% of the stock is currently owned by corporate insiders.

AMETEK Stock Up 1.0 %

NYSE AME traded up $1.97 during trading on Friday, reaching $190.92. 832,913 shares of the company's stock were exchanged, compared to its average volume of 1,146,481. AMETEK, Inc. has a 1 year low of $147.12 and a 1 year high of $192.20. The stock has a market cap of $44.16 billion, a P/E ratio of 33.26, a price-to-earnings-growth ratio of 2.94 and a beta of 1.16. 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 company has a 50 day moving average price of $170.91 and a two-hundred day moving average price of $169.29.

AMETEK (NYSE:AME - Get Free Report) last released its quarterly earnings results on Thursday, October 31st. The technology company reported $1.66 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.62 by $0.04. AMETEK had a return on equity of 16.88% and a net margin of 19.27%. The firm had revenue of $1.71 billion for the quarter, compared to the consensus estimate of $1.71 billion. During the same quarter last year, the business posted $1.64 EPS. The firm's quarterly revenue was up 5.3% compared to the same quarter last year. On average, equities research analysts anticipate that AMETEK, Inc. will post 6.81 EPS for the current fiscal year.

AMETEK Announces Dividend

The firm also recently disclosed 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 dividend on an annualized basis and a yield of 0.59%. The ex-dividend date is Friday, December 6th. AMETEK's dividend payout ratio is presently 19.51%.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on the company. 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 report on Friday, August 2nd. TD Cowen cut AMETEK from a "hold" rating to a "sell" rating in a research report on Monday, October 7th. Truist Financial boosted their price target on shares of AMETEK from $219.00 to $221.00 and gave the stock a "buy" rating in a report on Friday, November 1st. Robert W. Baird lifted their target price on shares of AMETEK from $166.00 to $186.00 and gave the company a "neutral" rating in a research report on Monday, November 4th. Finally, Wolfe Research raised AMETEK to a "hold" rating in a report on Wednesday, September 18th. One investment analyst has rated the stock with a sell rating, two have given a hold rating, six have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and an average target price 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.