Novare Capital Management LLC Lowers Holdings in AMETEK, Inc. (NYSE:AME)

Novare Capital Management LLC cut its stake in AMETEK, Inc. (NYSE:AMEFree Report) by 1.1% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund owned 72,315 shares of the technology company’s stock after selling 802 shares during the period. AMETEK makes up 1.1% of Novare Capital Management LLC’s investment portfolio, making the stock its 28th largest position. Novare Capital Management LLC’s holdings in AMETEK were worth $13,036,000 as of its most recent filing with the SEC.

Other institutional investors have also recently bought and sold shares of the company. EdgePoint Investment Group Inc. grew its stake in shares of AMETEK by 87.9% during the 3rd quarter. EdgePoint Investment Group Inc. now owns 1,964,236 shares of the technology company’s stock valued at $337,279,000 after buying an additional 918,737 shares during the period. Meridiem Investment Management Ltd. acquired a new position in AMETEK in the third quarter valued at $130,579,000. Principal Financial Group Inc. grew its position in AMETEK by 72.0% during the third quarter. Principal Financial Group Inc. now owns 1,680,309 shares of the technology company’s stock valued at $288,526,000 after acquiring an additional 703,501 shares during the period. D1 Capital Partners L.P. acquired a new stake in AMETEK during the third quarter worth about $79,782,000. Finally, Assenagon Asset Management S.A. lifted its stake in shares of AMETEK by 434.5% in the 4th quarter. Assenagon Asset Management S.A. now owns 541,517 shares of the technology company’s stock valued at $97,614,000 after purchasing an additional 440,197 shares in the last quarter. 87.43% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on the stock. Robert W. Baird increased their target price on shares of AMETEK from $166.00 to $186.00 and gave the stock a “neutral” rating in a research report on Monday, November 4th. 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. Truist Financial upped their price target on shares of AMETEK from $221.00 to $222.00 and gave the stock a “buy” rating in a research report on Thursday, January 16th. TD Cowen lowered AMETEK from a “hold” rating to a “sell” rating in a research report on Monday, October 7th. Finally, KeyCorp boosted their price objective on AMETEK from $205.00 to $215.00 and gave the stock an “overweight” rating in a research note on Friday, November 22nd. One investment analyst has rated the stock with a sell rating, three have given a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $203.44.

Read Our Latest Report on AMETEK

Insider Buying and Selling at AMETEK

In other AMETEK news, insider Emanuela Speranza sold 6,747 shares of the business’s stock in a transaction dated Tuesday, November 26th. The stock was sold at an average price of $195.90, for a total value of $1,321,737.30. Following the completion of the sale, the insider now owns 30,460 shares of the company’s stock, valued at $5,967,114. The trade was a 18.13 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Tony J. Ciampitti sold 16,210 shares of the company’s stock in a transaction that occurred on Friday, November 22nd. The stock was sold at an average price of $197.01, for a total value of $3,193,532.10. Following the sale, the insider now directly owns 49,490 shares of the company’s stock, valued at $9,750,024.90. The trade was a 24.67 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 29,200 shares of company stock worth $5,707,620. 0.61% of the stock is currently owned by company insiders.

AMETEK Stock Down 1.3 %

AME stock opened at $187.91 on Friday. The company has a debt-to-equity ratio of 0.18, a current ratio of 1.39 and a quick ratio of 0.84. The firm has a market cap of $43.47 billion, a PE ratio of 32.74, a P/E/G ratio of 2.73 and a beta of 1.16. AMETEK, Inc. has a 12 month low of $149.03 and a 12 month high of $198.33. The firm has a 50 day simple moving average of $186.47 and a 200 day simple moving average of $175.84.

AMETEK (NYSE:AMEGet 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. AMETEK had a return on equity of 16.88% and a net margin of 19.27%. The firm had revenue of $1.71 billion for the quarter, compared to the consensus estimate of $1.71 billion. During the same quarter in the previous year, the company earned $1.64 EPS. The business’s revenue for the quarter was up 5.3% compared to the same quarter last year. Equities research analysts forecast that AMETEK, Inc. will post 6.8 earnings per share for the current fiscal year.

AMETEK Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, December 20th. Investors of record on Friday, December 6th were 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 of this dividend was Friday, December 6th. AMETEK’s payout ratio is presently 19.51%.

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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Institutional Ownership by Quarter for AMETEK (NYSE:AME)

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