Los Angeles Capital Management LLC Sells 43,003 Shares of AMETEK, Inc. (NYSE:AME)

Los Angeles Capital Management LLC reduced its holdings in shares of AMETEK, Inc. (NYSE:AME) by 30.7% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 96,946 shares of the technology company’s stock after selling 43,003 shares during the quarter. Los Angeles Capital Management LLC’s holdings in AMETEK were worth $15,985,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of AME. Giverny Capital Inc. boosted its stake in shares of AMETEK by 0.5% in the 3rd quarter. Giverny Capital Inc. now owns 897,056 shares of the technology company’s stock valued at $132,549,000 after purchasing an additional 4,556 shares in the last quarter. Kestra Private Wealth Services LLC increased its holdings in shares of AMETEK by 11.6% during the third quarter. Kestra Private Wealth Services LLC now owns 3,637 shares of the technology company’s stock worth $537,000 after buying an additional 378 shares in the last quarter. Pacer Advisors Inc. lifted its stake in shares of AMETEK by 161.0% in the 4th quarter. Pacer Advisors Inc. now owns 44,684 shares of the technology company’s stock valued at $7,368,000 after acquiring an additional 27,562 shares during the last quarter. Tyche Wealth Partners LLC acquired a new stake in shares of AMETEK during the 4th quarter valued at $6,275,000. Finally, Whittier Trust Co. grew its position in AMETEK by 9.0% during the 3rd quarter. Whittier Trust Co. now owns 3,117 shares of the technology company’s stock worth $461,000 after acquiring an additional 258 shares during the last quarter. Institutional investors own 87.43% of the company’s stock.

AMETEK Stock Performance

NYSE:AME traded up $3.22 during trading hours on Friday, reaching $166.56. The stock had a trading volume of 2,065,100 shares, compared to its average volume of 956,196. AMETEK, Inc. has a 12-month low of $136.89 and a 12-month high of $186.32. The company has a debt-to-equity ratio of 0.21, a quick ratio of 0.59 and a current ratio of 1.11. The stock has a 50 day simple moving average of $179.88 and a 200 day simple moving average of $165.94. The stock has a market cap of $38.51 billion, a P/E ratio of 29.26, a price-to-earnings-growth ratio of 2.61 and a beta of 1.21.

AMETEK (NYSE:AME) last announced its quarterly earnings data on Thursday, May 2nd. The technology company reported $1.64 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.59 by $0.05. The business had revenue of $1.74 billion for the quarter, compared to analysts’ expectations of $1.78 billion. AMETEK had a return on equity of 17.74% and a net margin of 19.57%. The firm’s quarterly revenue was up 9.0% compared to the same quarter last year. During the same period in the previous year, the business posted $1.49 EPS. On average, research analysts forecast that AMETEK, Inc. will post 6.82 EPS for the current fiscal year.

AMETEK Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, March 28th. Investors of record on Friday, March 8th were paid a $0.28 dividend. This represents a $1.12 dividend on an annualized basis and a yield of 0.67%. This is a positive change from AMETEK’s previous quarterly dividend of $0.25. The ex-dividend date was Thursday, March 7th. AMETEK’s payout ratio is currently 19.68%.

Analyst Ratings Changes

AME has been the topic of a number of recent research reports. Royal Bank of Canada cut their price target on AMETEK from $192.00 to $188.00 and set an “outperform” rating on the stock in a research note on Wednesday, February 7th. Truist Financial initiated coverage on shares of AMETEK in a research report on Thursday, March 14th. They issued a “buy” rating and a $210.00 price objective for the company. StockNews.com cut shares of AMETEK from a “buy” rating to a “hold” rating in a research report on Saturday, March 2nd. Finally, KeyCorp upped their target price on AMETEK from $182.00 to $205.00 and gave the company an “overweight” rating in a report on Tuesday, February 27th. Three equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $180.78.

Insiders Place Their Bets

In related news, Director Thomas A. Amato sold 780 shares of the business’s stock in a transaction on Tuesday, March 26th. The stock was sold at an average price of $182.00, for a total transaction of $141,960.00. Following the sale, the director now directly owns 10,240 shares in the company, valued at approximately $1,863,680. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. In other AMETEK news, Director Thomas A. Amato sold 780 shares of the firm’s stock in a transaction on Tuesday, March 26th. The shares were sold at an average price of $182.00, for a total value of $141,960.00. Following the completion of the transaction, the director now directly owns 10,240 shares of the company’s stock, valued at approximately $1,863,680. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director Steven W. Kohlhagen sold 1,400 shares of the stock in a transaction on Tuesday, March 12th. The stock was sold at an average price of $180.59, for a total value of $252,826.00. Following the completion of the sale, the director now owns 28,054 shares in the company, valued at approximately $5,066,271.86. The disclosure for this sale can be found here. Insiders have sold a total of 59,881 shares of company stock worth $10,689,758 over the last 90 days. Corporate insiders own 0.61% of the company’s stock.

About AMETEK

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.