New York Life Investment Management LLC Trims Holdings in AMETEK, Inc. (NYSE:AME)

New York Life Investment Management LLC decreased its stake in shares of AMETEK, Inc. (NYSE:AME) by 33.6% during the fourth quarter, HoldingsChannel reports. The firm owned 32,687 shares of the technology company’s stock after selling 16,535 shares during the quarter. New York Life Investment Management LLC’s holdings in AMETEK were worth $5,390,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also bought and sold shares of the stock. Commonwealth Equity Services LLC boosted its stake in AMETEK by 1.6% during the third quarter. Commonwealth Equity Services LLC now owns 15,965 shares of the technology company’s stock worth $2,359,000 after acquiring an additional 257 shares in the last quarter. Raymond James & Associates boosted its position in shares of AMETEK by 6.4% in the 3rd quarter. Raymond James & Associates now owns 168,898 shares of the technology company’s stock worth $24,956,000 after purchasing an additional 10,173 shares in the last quarter. Stratos Wealth Partners LTD. grew its stake in shares of AMETEK by 60.0% in the 3rd quarter. Stratos Wealth Partners LTD. now owns 3,241 shares of the technology company’s stock worth $479,000 after buying an additional 1,216 shares during the last quarter. Northstar Asset Management LLC increased its position in AMETEK by 0.5% during the 3rd quarter. Northstar Asset Management LLC now owns 39,054 shares of the technology company’s stock valued at $5,771,000 after buying an additional 175 shares in the last quarter. Finally, Lindbrook Capital LLC raised its stake in AMETEK by 84.3% during the third quarter. Lindbrook Capital LLC now owns 435 shares of the technology company’s stock valued at $64,000 after buying an additional 199 shares during the last quarter. 87.43% of the stock is currently owned by hedge funds and other institutional investors.

AMETEK Stock Up 1.9 %

AME stock opened at $166.49 on Friday. The company has a market cap of $38.49 billion, a price-to-earnings ratio of 29.36, a P/E/G ratio of 2.78 and a beta of 1.21. The company has a debt-to-equity ratio of 0.22, a quick ratio of 0.59 and a current ratio of 0.98. The business’s 50-day moving average is $179.88 and its two-hundred day moving average is $165.94. AMETEK, Inc. has a fifty-two week low of $136.89 and a fifty-two week high of $186.32.

AMETEK (NYSE:AME) last issued its quarterly earnings data on Thursday, May 2nd. The technology company reported $1.64 earnings per share for the quarter, topping the consensus estimate of $1.59 by $0.05. The firm had revenue of $1.74 billion for the quarter, compared to analysts’ expectations of $1.78 billion. AMETEK had a net margin of 19.91% and a return on equity of 17.96%. The business’s quarterly revenue was up 9.0% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.49 EPS. As a group, analysts forecast that AMETEK, Inc. will post 6.82 earnings per share for the current year.

AMETEK Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, March 28th. Stockholders of record on Friday, March 8th were paid a dividend of $0.28 per share. This represents a $1.12 annualized dividend and a dividend yield of 0.67%. The ex-dividend date was Thursday, March 7th. This is a boost from AMETEK’s previous quarterly dividend of $0.25. AMETEK’s dividend payout ratio (DPR) is currently 19.75%.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on AME. Royal Bank of Canada reduced their price target on AMETEK from $192.00 to $188.00 and set an “outperform” rating for the company in a report on Wednesday, February 7th. StockNews.com cut shares of AMETEK from a “buy” rating to a “hold” rating in a report on Saturday, March 2nd. Truist Financial assumed coverage on shares of AMETEK in a report on Thursday, March 14th. They set a “buy” rating and a $210.00 price target on the stock. Finally, KeyCorp boosted their price objective on shares of AMETEK from $182.00 to $205.00 and gave the stock 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 company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $180.78.

Insider Activity

In related news, Director Thomas A. Amato sold 780 shares of AMETEK 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 transaction, the director now directly owns 10,240 shares in the company, valued at $1,863,680. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other news, CFO William Joseph Burke sold 5,973 shares of AMETEK stock in a transaction that occurred on Monday, February 12th. The shares were sold at an average price of $168.90, for a total transaction of $1,008,839.70. Following the sale, the chief financial officer now owns 101,709 shares in the company, valued at $17,178,650.10. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, Director Thomas A. Amato sold 780 shares of the stock in a transaction dated Tuesday, March 26th. The shares were sold at an average price of $182.00, for a total transaction of $141,960.00. Following the transaction, the director now directly owns 10,240 shares of the company’s stock, valued at approximately $1,863,680. The disclosure for this sale can be found here. Insiders sold a total of 59,881 shares of company stock valued at $10,689,758 in the last 90 days. Company 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.