Virtu Financial LLC reduced its stake in shares of AMETEK, Inc. (NYSE:AME - Free Report) by 78.4% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 6,756 shares of the technology company's stock after selling 24,591 shares during the quarter. Virtu Financial LLC's holdings in AMETEK were worth $1,160,000 at the end of the most recent reporting period.
Other institutional investors have also added to or reduced their stakes in the company. BNP Paribas Financial Markets grew its stake in AMETEK by 23.2% in the third quarter. BNP Paribas Financial Markets now owns 355,828 shares of the technology company's stock worth $61,099,000 after purchasing an additional 67,025 shares during the period. Assenagon Asset Management S.A. grew its position in shares of AMETEK by 68.2% in the 2nd quarter. Assenagon Asset Management S.A. now owns 152,132 shares of the technology company's stock worth $25,362,000 after buying an additional 61,677 shares during the period. Sawgrass Asset Management LLC increased its stake in shares of AMETEK by 36.5% in 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 in the last quarter. Taurus Asset Management LLC lifted its position in AMETEK by 2.9% during the 3rd quarter. Taurus Asset Management LLC now owns 115,033 shares of the technology company's stock valued at $19,752,000 after acquiring an additional 3,210 shares during the period. Finally, Williams Financial LLC bought a new stake in AMETEK during the second quarter worth about $6,040,000. 87.43% of the stock is currently owned by institutional investors.
AMETEK Stock Performance
AME traded down $1.07 during midday trading on Friday, hitting $187.38. 827,104 shares of the company traded hands, compared to its average volume of 1,149,380. The company's 50-day moving average is $183.21 and its 200 day moving average is $173.04. The company has a quick ratio of 0.84, a current ratio of 1.39 and a debt-to-equity ratio of 0.18. The firm has a market capitalization of $43.34 billion, a PE ratio of 32.64, a price-to-earnings-growth ratio of 3.08 and a beta of 1.15. AMETEK, Inc. has a 52 week low of $149.03 and a 52 week high of $198.33.
AMETEK (NYSE:AME - Get Free Report) last issued its quarterly earnings data on Thursday, October 31st. The technology company reported $1.66 earnings per share for the quarter, beating analysts' consensus estimates of $1.62 by $0.04. The company had revenue of $1.71 billion for the quarter, compared to the consensus estimate of $1.71 billion. AMETEK had a net margin of 19.27% and a return on equity of 16.88%. The firm's revenue for the quarter was up 5.3% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $1.64 earnings per share. On average, research analysts expect that AMETEK, Inc. will post 6.8 EPS for the current year.
AMETEK Announces Dividend
The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 20th. Investors of record on Friday, December 6th will be given a dividend of $0.28 per share. This represents a $1.12 dividend on an annualized basis and a yield of 0.60%. The ex-dividend date is Friday, December 6th. AMETEK's dividend payout ratio (DPR) is presently 19.51%.
Insider Buying and Selling at AMETEK
In other news, insider David F. Hermance sold 6,243 shares of the firm's 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 transaction, the insider now owns 36,731 shares of the company's stock, valued at $7,015,253.69. This trade represents a 14.53 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Tony J. Ciampitti sold 16,210 shares of AMETEK stock in a transaction dated Friday, November 22nd. The shares were 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 approximately $9,750,024.90. The trade was a 24.67 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 30,660 shares of company stock valued at $5,958,141. 0.61% of the stock is owned by company insiders.
Analyst Ratings Changes
AME has been the subject of a number of analyst reports. StockNews.com upgraded shares of AMETEK from a "hold" rating to a "buy" rating in a report on Wednesday, December 4th. Robert W. Baird lifted their price objective on AMETEK from $166.00 to $186.00 and gave the company a "neutral" rating in a research note 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 research note on Friday, November 1st. Wolfe Research raised AMETEK to a "hold" rating in a research report on Wednesday, September 18th. Finally, KeyCorp increased their price objective on shares of AMETEK from $205.00 to $215.00 and gave the company an "overweight" rating in a research report on Friday, November 22nd. 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 assigned a strong buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $199.29.
Check Out Our Latest Research Report on AMETEK
AMETEK Profile
(
Free Report)
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.
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