Petredis Investment Advisors LLC Reduces Holdings in AMETEK, Inc. (NYSE:AME)

Petredis Investment Advisors LLC reduced its stake in AMETEK, Inc. (NYSE:AME) by 20.1% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 31,527 shares of the technology company’s stock after selling 7,924 shares during the period. Petredis Investment Advisors LLC’s holdings in AMETEK were worth $5,683,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of AME. Oddo BHF Asset Management Sas purchased a new position in shares of AMETEK in the third quarter worth $3,724,000. Everence Capital Management Inc. purchased a new position in shares of AMETEK in the fourth quarter valued at about $999,000. BNP Paribas Financial Markets raised 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 valued at $61,099,000 after acquiring an additional 67,025 shares during the last quarter. Taurus Asset Management LLC boosted its holdings 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 purchasing an additional 3,210 shares during the period. Finally, Sawgrass Asset Management LLC increased its holdings in AMETEK by 36.5% during the 3rd quarter. Sawgrass Asset Management LLC now owns 74,757 shares of the technology company’s stock valued at $12,837,000 after purchasing an additional 20,001 shares during the period. Institutional investors own 87.43% of the company’s stock.

Insider Buying and Selling

In other AMETEK news, insider David F. Hermance sold 6,243 shares of AMETEK stock in a transaction 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 sale, the insider now directly owns 36,731 shares in the company, valued at approximately $7,015,253.69. The trade was a 14.53 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Emanuela Speranza sold 6,747 shares of the stock in a transaction that occurred on Tuesday, November 26th. The shares were sold at an average price of $195.90, for a total value of $1,321,737.30. Following the transaction, the insider now directly owns 30,460 shares of the company’s stock, valued at approximately $5,967,114. The trade was a 18.13 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 29,200 shares of company stock valued at $5,707,620. Company insiders own 0.61% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts recently commented on the company. KeyCorp upped their target price on AMETEK from $205.00 to $215.00 and gave the company an “overweight” rating in a report on Friday, November 22nd. Truist Financial upped their price objective on shares of AMETEK from $221.00 to $222.00 and gave the stock a “buy” rating in a report on Thursday, January 16th. Bank of America raised shares of AMETEK from a “neutral” rating to a “buy” rating and lifted their target price for the company from $195.00 to $225.00 in a research note on Monday, December 16th. TD Cowen downgraded shares of AMETEK from a “hold” rating to a “sell” rating in a research note on Monday, October 7th. Finally, StockNews.com cut AMETEK from a “buy” rating to a “hold” rating in a research report on Friday, January 17th. One research analyst has rated the stock with a sell rating, three have given a hold rating, seven have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $203.44.

AMETEK Trading Down 1.3 %

AMETEK stock opened at $187.91 on Friday. The business has a 50-day simple moving average of $186.57 and a two-hundred day simple moving average of $175.68. AMETEK, Inc. has a 52-week low of $149.03 and a 52-week high of $198.33. 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 company has a market cap of $43.47 billion, a P/E ratio of 32.74, a P/E/G ratio of 2.73 and a beta of 1.16.

AMETEK (NYSE:AME) last issued its quarterly earnings results on Thursday, October 31st. The technology company reported $1.66 earnings per share for the quarter, topping the consensus estimate of $1.62 by $0.04. The business had revenue of $1.71 billion for the quarter, compared to analysts’ expectations of $1.71 billion. AMETEK had a net margin of 19.27% and a return on equity of 16.88%. The company’s revenue was up 5.3% compared to the same quarter last year. During the same quarter last year, the company posted $1.64 EPS. Analysts predict that AMETEK, Inc. will post 6.8 EPS for the current year.

AMETEK Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, December 20th. Shareholders of record on Friday, December 6th were issued a dividend of $0.28 per share. This represents a $1.12 annualized dividend and a yield of 0.60%. The ex-dividend date was Friday, December 6th. AMETEK’s dividend payout ratio is currently 19.51%.

AMETEK Company 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.