Princeton Global Asset Management LLC Reduces Stock Position in AMETEK, Inc. (NYSE:AME)

Princeton Global Asset Management LLC lowered its stake in shares of AMETEK, Inc. (NYSE:AME) by 21.7% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 202 shares of the technology company’s stock after selling 56 shares during the period. Princeton Global Asset Management LLC’s holdings in AMETEK were worth $36,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in AME. EdgePoint Investment Group Inc. raised its position in shares of AMETEK by 87.9% in the third quarter. EdgePoint Investment Group Inc. now owns 1,964,236 shares of the technology company’s stock worth $337,279,000 after buying an additional 918,737 shares in the last quarter. Meridiem Investment Management Ltd. purchased a new stake in shares of AMETEK in the third quarter worth $130,579,000. Principal Financial Group Inc. raised its position in shares of AMETEK by 72.0% in the third quarter. Principal Financial Group Inc. now owns 1,680,309 shares of the technology company’s stock worth $288,526,000 after buying an additional 703,501 shares in the last quarter. D1 Capital Partners L.P. purchased a new stake in shares of AMETEK in the third quarter worth $79,782,000. Finally, Assenagon Asset Management S.A. raised its position in shares of AMETEK by 434.5% in the fourth quarter. Assenagon Asset Management S.A. now owns 541,517 shares of the technology company’s stock worth $97,614,000 after buying an additional 440,197 shares in the last quarter. Hedge funds and other institutional investors own 87.43% of the company’s stock.

Insider Activity at AMETEK

In other AMETEK news, insider David F. Hermance sold 6,243 shares of AMETEK stock in a transaction that occurred on 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 completion of the sale, the insider now owns 36,731 shares of the company’s stock, valued at approximately $7,015,253.69. The trade was a 14.53 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Emanuela Speranza sold 6,747 shares of AMETEK 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 sale, the insider now directly owns 30,460 shares of the company’s stock, valued at approximately $5,967,114. This trade represents a 18.13 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 29,200 shares of company stock valued at $5,707,620 over the last 90 days. Corporate insiders own 0.61% of the company’s stock.

AMETEK Price Performance

Shares of AME opened at $184.44 on Tuesday. The company has a market capitalization of $42.66 billion, a P/E ratio of 32.13, a price-to-earnings-growth ratio of 2.67 and a beta of 1.16. The company has a quick ratio of 0.84, a current ratio of 1.39 and a debt-to-equity ratio of 0.18. The firm has a 50 day moving average of $185.44 and a 200 day moving average of $176.41. AMETEK, Inc. has a twelve month low of $149.03 and a twelve month high of $198.33.

AMETEK Dividend Announcement

The company also recently declared 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 annualized dividend and a dividend yield of 0.61%. The ex-dividend date was Friday, December 6th. AMETEK’s dividend payout ratio (DPR) is currently 19.51%.

Analyst Ratings Changes

AME has been the topic of a number of recent analyst reports. Truist Financial increased their price objective on AMETEK from $221.00 to $222.00 and gave the stock a “buy” rating in a research report on Thursday, January 16th. TD Cowen cut AMETEK from a “hold” rating to a “sell” rating in a research note on Monday, October 7th. Mizuho increased their target price on AMETEK from $190.00 to $200.00 and gave the company an “outperform” rating in a research note on Friday, November 1st. KeyCorp lifted their target price on shares of AMETEK from $205.00 to $215.00 and gave the company an “overweight” rating in a report on Friday, November 22nd. Finally, StockNews.com upgraded shares of AMETEK from a “hold” rating to a “buy” rating in a report on Tuesday, January 28th. One analyst has rated the stock with a sell rating, two have assigned a hold rating, eight have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $203.44.

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.