Chevy Chase Trust Holdings LLC Sells 3,506 Shares of AMETEK, Inc. (NYSE:AME)

Chevy Chase Trust Holdings LLC cut its position in AMETEK, Inc. (NYSE:AME) by 2.7% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 125,189 shares of the technology company’s stock after selling 3,506 shares during the quarter. Chevy Chase Trust Holdings LLC’s holdings in AMETEK were worth $22,567,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in AME. Oddo BHF Asset Management Sas purchased a new stake in shares of AMETEK during the third quarter worth about $3,724,000. Everence Capital Management Inc. purchased a new stake in shares of AMETEK during the fourth quarter worth about $999,000. BNP Paribas Financial Markets grew its stake in shares of AMETEK by 23.2% during the third quarter. BNP Paribas Financial Markets now owns 355,828 shares of the technology company’s stock worth $61,099,000 after acquiring an additional 67,025 shares during the last quarter. Czech National Bank grew its stake in shares of AMETEK by 6.3% during the fourth quarter. Czech National Bank now owns 50,153 shares of the technology company’s stock worth $9,041,000 after acquiring an additional 2,987 shares during the last quarter. Finally, Taurus Asset Management LLC grew its stake in shares of AMETEK by 2.9% during the third quarter. Taurus Asset Management LLC now owns 115,033 shares of the technology company’s stock worth $19,752,000 after acquiring an additional 3,210 shares during the last quarter. 87.43% of the stock is currently owned by institutional investors.

Insider Transactions at AMETEK

In other news, insider Emanuela Speranza sold 6,747 shares of the company’s stock in a transaction that occurred on Tuesday, November 26th. The stock was sold at an average price of $195.90, for a total transaction of $1,321,737.30. Following the completion of the transaction, the insider now directly owns 30,460 shares of the company’s stock, valued at $5,967,114. This represents a 18.13 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. 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 transaction, the insider now directly owns 49,490 shares of the company’s stock, valued at approximately $9,750,024.90. The trade was a 24.67 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 0.61% of the company’s stock.

AMETEK Trading Down 0.5 %

AMETEK stock opened at $183.42 on Friday. The company has a current ratio of 1.24, a quick ratio of 0.84 and a debt-to-equity ratio of 0.15. AMETEK, Inc. has a 12 month low of $149.03 and a 12 month high of $198.33. The stock’s 50 day simple moving average is $183.19 and its two-hundred day simple moving average is $177.24. The firm has a market cap of $42.43 billion, a PE ratio of 30.93, a P/E/G ratio of 2.68 and a beta of 1.16.

AMETEK (NYSE:AME) last released its quarterly earnings data on Tuesday, February 4th. The technology company reported $1.87 EPS for the quarter, topping the consensus estimate of $1.85 by $0.02. The business had revenue of $1.76 billion for the quarter, compared to analyst estimates of $1.82 billion. AMETEK had a return on equity of 16.94% and a net margin of 19.83%. The business’s quarterly revenue was up 1.8% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.68 EPS. Analysts anticipate that AMETEK, Inc. will post 7.15 earnings per share for the current year.

AMETEK declared that its board has approved a stock buyback plan on Friday, February 7th that permits the company to repurchase $1.25 billion in shares. This repurchase authorization permits the technology company to purchase up to 2.9% of its shares through open market purchases. Shares repurchase plans are generally an indication that the company’s board believes its shares are undervalued.

AMETEK Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Friday, March 14th will be paid a dividend of $0.31 per share. This represents a $1.24 annualized dividend and a dividend yield of 0.68%. This is an increase from AMETEK’s previous quarterly dividend of $0.28. The ex-dividend date of this dividend is Friday, March 14th. AMETEK’s dividend payout ratio is presently 20.91%.

Analyst Upgrades and Downgrades

A number of brokerages have recently weighed in on AME. Truist Financial boosted their price target on AMETEK from $221.00 to $222.00 and gave the stock a “buy” rating in a research note on Thursday, January 16th. StockNews.com upgraded AMETEK from a “hold” rating to a “buy” rating in a research report on Thursday. Mizuho upped their target price on AMETEK from $190.00 to $200.00 and gave the company an “outperform” rating in a research report on Friday, November 1st. Robert W. Baird dropped their target price on AMETEK from $200.00 to $197.00 and set a “neutral” rating on the stock in a research report on Wednesday, February 5th. Finally, KeyCorp upped their target price on AMETEK from $205.00 to $215.00 and gave the company an “overweight” rating in a research report on Friday, November 22nd. One analyst has rated the stock with a sell rating, two have given a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $204.67.

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.