Sumitomo Mitsui Trust Group Inc. Has $87.01 Million Stake in AMETEK, Inc. (NYSE:AME)

Sumitomo Mitsui Trust Group Inc. increased its position in shares of AMETEK, Inc. (NYSE:AME - Free Report) by 1.1% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 506,696 shares of the technology company's stock after acquiring an additional 5,375 shares during the quarter. Sumitomo Mitsui Trust Group Inc. owned 0.22% of AMETEK worth $87,005,000 as of its most recent SEC filing.

Several other hedge funds have also made changes to their positions in the company. EverSource Wealth Advisors LLC lifted its position in AMETEK by 7.3% in the 1st quarter. EverSource Wealth Advisors LLC now owns 899 shares of the technology company's stock worth $157,000 after buying an additional 61 shares in the last quarter. MorganRosel Wealth Management LLC raised its stake in shares of AMETEK by 1.6% during the 2nd quarter. MorganRosel Wealth Management LLC now owns 3,886 shares of the technology company's stock worth $648,000 after purchasing an additional 61 shares in the last quarter. Commerzbank Aktiengesellschaft FI lifted its holdings in shares of AMETEK by 4.8% during the 2nd quarter. Commerzbank Aktiengesellschaft FI now owns 1,340 shares of the technology company's stock valued at $224,000 after buying an additional 61 shares during the last quarter. First Horizon Advisors Inc. grew its stake in shares of AMETEK by 2.4% in the 2nd quarter. First Horizon Advisors Inc. now owns 2,639 shares of the technology company's stock valued at $440,000 after buying an additional 62 shares in the last quarter. Finally, Checchi Capital Advisers LLC grew 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 worth $371,000 after acquiring an additional 63 shares in the last quarter. Hedge funds and other institutional investors own 87.43% of the company's stock.

AMETEK Price Performance

Shares of NYSE:AME traded down $0.65 during midday trading on Friday, reaching $193.10. 2,103,201 shares of the company's stock were exchanged, compared to its average volume of 1,155,791. AMETEK, Inc. has a 12 month low of $149.03 and a 12 month high of $196.70. 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 firm has a market capitalization of $44.67 billion, a PE ratio of 33.76, a price-to-earnings-growth ratio of 3.19 and a beta of 1.16. The company's 50 day simple moving average is $173.00 and its two-hundred day simple moving average is $169.71.

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 the consensus estimate 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 analyst estimates of $1.71 billion. During the same quarter in the previous year, the firm earned $1.64 EPS. AMETEK's quarterly revenue was up 5.3% on a year-over-year basis. Equities research analysts expect that AMETEK, Inc. will post 6.81 earnings per share for the current fiscal year.

AMETEK Dividend Announcement

The company 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 dividend of $0.28 per share. The ex-dividend date is Friday, December 6th. This represents a $1.12 annualized dividend and a yield of 0.58%. AMETEK's dividend payout ratio is currently 19.51%.

Insider Buying and Selling at AMETEK

In related news, Director Steven W. Kohlhagen sold 1,460 shares of the stock in a transaction that occurred on Wednesday, September 25th. The shares were sold at an average price of $171.59, for a total value of $250,521.40. Following the sale, the director now directly owns 23,349 shares in the company, valued at $4,006,454.91. This trade represents a 5.88 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, insider David F. Hermance sold 6,243 shares of AMETEK stock in a transaction dated Friday, November 8th. The shares were 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 in the company, valued at $7,015,253.69. This trade represents a 14.53 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.61% of the company's stock.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on AME. TD Cowen lowered AMETEK from a "hold" rating to a "sell" rating in a report on Monday, October 7th. Wolfe Research upgraded shares of AMETEK to a "hold" rating in a research note on Wednesday, September 18th. Mizuho raised their target price on shares of AMETEK from $190.00 to $200.00 and gave the company an "outperform" rating in a research note on Friday, November 1st. Royal Bank of Canada cut their target price on shares of AMETEK from $216.00 to $215.00 and set an "outperform" rating for the company in a research report on Friday, August 2nd. Finally, Truist Financial raised their price target on AMETEK from $219.00 to $221.00 and gave the company a "buy" rating in a research report on Friday, November 1st. One analyst has rated the stock with a sell rating, two have issued a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus 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.