Twin Capital Management Inc. Sells 375 Shares of AMETEK, Inc. (NYSE:AME)

Twin Capital Management Inc. lessened its stake in shares of AMETEK, Inc. (NYSE:AME) by 2.3% in the fourth quarter, Holdings Channel reports. The institutional investor owned 15,916 shares of the technology company’s stock after selling 375 shares during the quarter. Twin Capital Management Inc.’s holdings in AMETEK were worth $2,624,000 at the end of the most recent reporting period.

A number of other hedge funds have also added to or reduced their stakes in AME. Norges Bank purchased a new position in AMETEK during the 4th quarter valued at about $509,944,000. Price T Rowe Associates Inc. MD grew its holdings in AMETEK by 643.7% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 3,953,131 shares of the technology company’s stock valued at $552,332,000 after buying an additional 3,421,558 shares in the last quarter. Moneta Group Investment Advisors LLC grew its holdings in AMETEK by 39,681.6% during the 4th quarter. Moneta Group Investment Advisors LLC now owns 1,827,569 shares of the technology company’s stock valued at $255,348,000 after buying an additional 1,822,975 shares in the last quarter. Morgan Stanley grew its holdings in AMETEK by 93.2% during the 4th quarter. Morgan Stanley now owns 3,678,094 shares of the technology company’s stock valued at $513,903,000 after buying an additional 1,774,651 shares in the last quarter. Finally, BlackRock Inc. grew its holdings in AMETEK by 4.2% during the 1st quarter. BlackRock Inc. now owns 16,215,102 shares of the technology company’s stock valued at $2,356,541,000 after buying an additional 658,629 shares in the last quarter. Hedge funds and other institutional investors own 87.43% of the company’s stock.

Insider Buying and Selling

In other AMETEK news, Director Steven W. Kohlhagen sold 1,400 shares of the firm’s stock in a transaction on Tuesday, March 12th. The stock was sold at an average price of $180.59, for a total transaction of $252,826.00. Following the completion of the transaction, the director now owns 28,054 shares of the company’s stock, valued at $5,066,271.86. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In other news, VP Thomas M. Montgomery sold 6,891 shares of the firm’s stock in a transaction on Thursday, March 21st. The stock was sold at an average price of $185.38, for a total transaction of $1,277,453.58. Following the completion of the transaction, the vice president now directly owns 21,543 shares in the company, valued at $3,993,641.34. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Steven W. Kohlhagen sold 1,400 shares of the firm’s stock in a transaction on Tuesday, March 12th. The shares were sold at an average price of $180.59, for a total value of $252,826.00. Following the transaction, the director now owns 28,054 shares of the company’s stock, valued at $5,066,271.86. The disclosure for this sale can be found here. Insiders sold 59,881 shares of company stock valued at $10,689,758 over the last quarter. 0.61% of the stock is owned by company insiders.

AMETEK Trading Down 0.3 %

AME stock traded down $0.52 during midday trading on Thursday, hitting $177.53. The company had a trading volume of 240,238 shares, compared to its average volume of 941,453. The company has a current ratio of 0.98, a quick ratio of 0.59 and a debt-to-equity ratio of 0.22. AMETEK, Inc. has a 52 week low of $133.12 and a 52 week high of $186.32. The stock’s 50 day moving average price is $179.04 and its 200 day moving average price is $164.04. The stock has a market cap of $41.05 billion, a price-to-earnings ratio of 31.40, a PEG ratio of 2.86 and a beta of 1.22.

AMETEK (NYSE:AME) last announced its quarterly earnings data on Tuesday, February 6th. The technology company reported $1.68 earnings per share for the quarter, beating the consensus estimate of $1.62 by $0.06. AMETEK had a return on equity of 17.96% and a net margin of 19.91%. The firm had revenue of $1.73 billion during the quarter, compared to the consensus estimate of $1.73 billion. During the same quarter in the previous year, the company posted $1.52 earnings per share. The business’s revenue was up 6.1% on a year-over-year basis. As a group, equities research analysts expect that AMETEK, Inc. will post 6.82 earnings per share for the current fiscal year.

AMETEK Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, March 28th. Investors of record on Friday, March 8th were paid a $0.28 dividend. This is a positive change from AMETEK’s previous quarterly dividend of $0.25. The ex-dividend date was Thursday, March 7th. This represents a $1.12 dividend on an annualized basis and a yield of 0.63%. AMETEK’s dividend payout ratio (DPR) is presently 19.75%.

Analyst Ratings Changes

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

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.