AMETEK, Inc. (NYSE:AME) Shares Sold by Commerce Bank

Commerce Bank lowered its holdings in AMETEK, Inc. (NYSE:AME - Free Report) by 16.0% during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 107,761 shares of the technology company's stock after selling 20,574 shares during the period. Commerce Bank's holdings in AMETEK were worth $18,504,000 at the end of the most recent reporting period.

A number of other large investors have also recently modified their holdings of AME. Bank of New York Mellon Corp raised its position in AMETEK by 34.6% during the second 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. Meridiem Investment Management Ltd. bought a new stake in AMETEK in the 3rd quarter worth approximately $130,579,000. Principal Financial Group Inc. boosted its stake 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 worth $288,526,000 after buying an additional 703,501 shares in the last quarter. James Hambro & Partners LLP bought a new position in AMETEK during the third quarter valued at approximately $60,188,000. Finally, Ceredex Value Advisors LLC bought a new stake in shares of AMETEK in the 3rd quarter worth approximately $40,811,000. Institutional investors own 87.43% of the company's stock.

AMETEK Price Performance

NYSE:AME opened at $193.33 on Thursday. The company has a quick ratio of 0.84, a current ratio of 1.39 and a debt-to-equity ratio of 0.18. AMETEK, Inc. has a 52 week low of $149.03 and a 52 week high of $196.70. The business's 50-day simple moving average is $175.30 and its two-hundred day simple moving average is $170.32. The stock has a market cap of $44.72 billion, a PE ratio of 33.68, a P/E/G ratio of 3.16 and a beta of 1.16.

AMETEK (NYSE:AME - Get Free Report) last announced its quarterly earnings results on Thursday, October 31st. The technology company reported $1.66 EPS for the quarter, beating 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 company had revenue of $1.71 billion during the quarter, compared to analyst estimates of $1.71 billion. During the same period in the prior year, the company earned $1.64 earnings per share. The firm's revenue was up 5.3% on a year-over-year basis. As a group, analysts forecast that AMETEK, Inc. will post 6.8 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. Investors of record on Friday, December 6th will be issued a dividend of $0.28 per share. This represents a $1.12 dividend on an annualized basis and a yield of 0.58%. The ex-dividend date of this dividend is Friday, December 6th. AMETEK's payout ratio is currently 19.51%.

Insider Buying and Selling at AMETEK

In other news, insider David F. Hermance sold 6,243 shares of AMETEK stock in a transaction on 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 directly owns 36,731 shares in the company, valued at approximately $7,015,253.69. This trade represents a 14.53 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Steven W. Kohlhagen sold 1,460 shares of the business's stock in a transaction dated Wednesday, September 25th. The stock was sold at an average price of $171.59, for a total transaction of $250,521.40. Following the completion of the transaction, the director now owns 23,349 shares of the company's stock, 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. 0.61% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on the company. Royal Bank of Canada reduced 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. Truist Financial upped their price target on shares of AMETEK from $219.00 to $221.00 and gave the company a "buy" rating in a report on Friday, November 1st. Robert W. Baird raised 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. Mizuho raised their target price on AMETEK from $190.00 to $200.00 and gave the stock an "outperform" rating in a research note on Friday, November 1st. Finally, TD Cowen lowered AMETEK from a "hold" rating to a "sell" rating in a research report on Monday, October 7th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating, five have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average target price of $197.86.

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.