Portfolio Design Labs LLC Reduces Stock Holdings in AMETEK, Inc. (NYSE:AME)

Portfolio Design Labs LLC reduced its holdings in shares of AMETEK, Inc. (NYSE:AME - Free Report) by 52.2% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 8,726 shares of the technology company's stock after selling 9,525 shares during the period. Portfolio Design Labs LLC's holdings in AMETEK were worth $1,498,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in AME. EverSource Wealth Advisors LLC raised its position in shares of AMETEK by 7.3% in the 1st quarter. EverSource Wealth Advisors LLC now owns 899 shares of the technology company's stock valued at $157,000 after purchasing an additional 61 shares during the last quarter. MorganRosel Wealth Management LLC lifted its stake in shares of AMETEK by 1.6% during the second quarter. MorganRosel Wealth Management LLC now owns 3,886 shares of the technology company's stock worth $648,000 after buying an additional 61 shares during the period. Commerzbank Aktiengesellschaft FI increased its position in shares of AMETEK by 4.8% in the 2nd quarter. Commerzbank Aktiengesellschaft FI now owns 1,340 shares of the technology company's stock valued at $224,000 after acquiring an additional 61 shares during the period. First Horizon Advisors Inc. raised its stake in AMETEK by 2.4% in the 2nd quarter. First Horizon Advisors Inc. now owns 2,639 shares of the technology company's stock worth $440,000 after acquiring an additional 62 shares during the last quarter. Finally, Checchi Capital Advisers LLC boosted its position in AMETEK by 2.9% in the second quarter. Checchi Capital Advisers LLC now owns 2,225 shares of the technology company's stock valued at $371,000 after buying an additional 63 shares during the last quarter. 87.43% of the stock is currently owned by hedge funds and other institutional investors.

AMETEK Price Performance

AME traded down $0.13 during midday trading on Wednesday, hitting $193.33. 995,244 shares of the company traded hands, compared to its average volume of 1,154,345. The business has a 50 day simple moving average of $174.74 and a two-hundred day simple moving average of $170.16. AMETEK, Inc. has a 52-week low of $149.03 and a 52-week high of $196.70. The company has a market capitalization of $44.72 billion, a price-to-earnings ratio of 33.68, a PEG ratio of 3.15 and a beta of 1.16. The company has a current ratio of 1.39, a quick ratio of 0.84 and a debt-to-equity ratio of 0.18.

AMETEK (NYSE:AME - Get Free Report) last posted its quarterly earnings data on Thursday, October 31st. The technology company reported $1.66 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.62 by $0.04. The company 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%. AMETEK's revenue was up 5.3% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.64 EPS. On average, equities analysts forecast that AMETEK, Inc. will post 6.81 earnings per share for the current fiscal year.

AMETEK Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, December 20th. Stockholders of record on Friday, December 6th will be paid a $0.28 dividend. The ex-dividend date of this dividend is Friday, December 6th. This represents a $1.12 annualized dividend and a dividend yield of 0.58%. AMETEK's dividend payout ratio (DPR) is 19.51%.

Wall Street Analysts Forecast Growth

AME has been the topic of several recent research reports. Truist Financial upped their price objective on shares of AMETEK from $219.00 to $221.00 and gave the company a "buy" rating in a report on Friday, November 1st. Royal Bank of Canada lowered their target price on AMETEK from $216.00 to $215.00 and set an "outperform" rating on the stock in a research note on Friday, August 2nd. TD Cowen cut AMETEK from a "hold" rating to a "sell" rating in a research report on Monday, October 7th. Wolfe Research upgraded AMETEK to a "hold" rating in a research report on Wednesday, September 18th. Finally, Mizuho lifted their target price on shares of AMETEK from $190.00 to $200.00 and gave the company an "outperform" rating in a report on Friday, November 1st. One research analyst has rated the stock with a sell rating, three have assigned a hold rating, five have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, AMETEK has an average rating of "Moderate Buy" and a consensus target price of $197.86.

Insider Transactions at AMETEK

In related news, Director Steven W. Kohlhagen sold 1,460 shares of the 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 transaction, the director now owns 23,349 shares of the company's stock, valued at approximately $4,006,454.91. This represents a 5.88 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider David F. Hermance sold 6,243 shares of the firm's stock in a transaction that occurred on Friday, November 8th. The shares were sold at an average price of $190.99, for a total transaction of $1,192,350.57. Following the completion of the transaction, the insider now directly owns 36,731 shares of the company's stock, valued at approximately $7,015,253.69. The trade was a 14.53 % decrease in their position. The disclosure for this sale can be found here. Insiders own 0.61% of the company's stock.

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.