Primecap Management Co. CA Acquires 3,500 Shares of AMETEK, Inc. (NYSE:AME)

Primecap Management Co. CA lifted its stake in AMETEK, Inc. (NYSE:AME - Free Report) by 1.0% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 355,900 shares of the technology company's stock after acquiring an additional 3,500 shares during the quarter. Primecap Management Co. CA owned approximately 0.15% of AMETEK worth $61,112,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also modified their holdings of the company. Price T Rowe Associates Inc. MD increased its position 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 during the last quarter. Bank of New York Mellon Corp increased its stake in shares of 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 worth $600,615,000 after purchasing an additional 926,657 shares during the last quarter. Boston Partners raised its holdings in shares of AMETEK by 3.0% during the 1st quarter. Boston Partners now owns 3,063,588 shares of the technology company's stock valued at $560,278,000 after purchasing an additional 90,271 shares in the last quarter. Dimensional Fund Advisors LP lifted its stake in shares of AMETEK by 8.6% in the 2nd quarter. Dimensional Fund Advisors LP now owns 1,882,166 shares of the technology company's stock valued at $313,777,000 after purchasing an additional 148,447 shares during the last quarter. Finally, Principal Financial Group Inc. boosted its holdings 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 purchasing an additional 703,501 shares in the last quarter. 87.43% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on the company. Royal Bank of Canada cut their target price on AMETEK from $216.00 to $215.00 and set an "outperform" rating on the stock in a report on Friday, August 2nd. Redburn Atlantic upgraded AMETEK to a "strong-buy" rating in a report on Friday, August 2nd. Truist Financial increased their price target on AMETEK from $219.00 to $221.00 and gave the company a "buy" rating in a report on Friday, November 1st. Mizuho boosted their price objective on shares of AMETEK from $190.00 to $200.00 and gave the stock an "outperform" rating in a research note on Friday, November 1st. Finally, StockNews.com lowered shares of AMETEK from a "buy" rating to a "hold" rating in a research note on Friday, November 15th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average target price of $199.29.

Insiders Place Their Bets

In other AMETEK 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 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. This trade represents a 14.53 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Steven W. Kohlhagen sold 1,460 shares of the company'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 sale, the director now directly owns 23,349 shares in the company, valued at approximately $4,006,454.91. The trade was a 5.88 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.61% of the company's stock.

AMETEK Stock Performance

AMETEK stock traded up $1.61 during mid-day trading on Friday, reaching $197.37. The company had a trading volume of 1,052,771 shares, compared to its average volume of 1,153,819. The company has a 50 day moving average of $175.87 and a 200-day moving average of $170.49. AMETEK, Inc. has a 52 week low of $149.03 and a 52 week high of $197.83. 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 cap of $45.65 billion, a price-to-earnings ratio of 34.40, a PEG ratio of 3.16 and a beta of 1.16.

AMETEK (NYSE:AME - Get Free Report) last released its earnings results on Thursday, October 31st. The technology company reported $1.66 earnings per share 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 business had revenue of $1.71 billion for the quarter, compared to the consensus estimate of $1.71 billion. During the same period last year, the business earned $1.64 earnings per share. The firm's revenue for the quarter was up 5.3% compared to the same quarter last year. On average, sell-side analysts expect that AMETEK, Inc. will post 6.8 EPS for the current fiscal year.

AMETEK Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, December 20th. Investors of record on Friday, December 6th will be given a $0.28 dividend. The ex-dividend date of this dividend is Friday, December 6th. This represents a $1.12 annualized dividend and a yield of 0.57%. AMETEK's dividend payout ratio (DPR) is currently 19.51%.

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.