AMETEK, Inc. $AME Stock Sold by Sumitomo Mitsui Trust Group Inc.

Sumitomo Mitsui Trust Group Inc. reduced its stake in shares of AMETEK, Inc. (NYSE:AME) by 2.4% during the 3rd quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 487,179 shares of the technology company’s stock after selling 12,131 shares during the period. Sumitomo Mitsui Trust Group Inc. owned approximately 0.21% of AMETEK worth $120,689,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of the company. Mirae Asset Global Investments Co. Ltd. purchased a new stake in AMETEK during the third quarter worth $16,837,000. ProShare Advisors LLC raised its position in shares of AMETEK by 1.0% during the 3rd quarter. ProShare Advisors LLC now owns 38,290 shares of the technology company’s stock worth $9,486,000 after purchasing an additional 376 shares during the last quarter. Vise Technologies Inc. acquired a new position in shares of AMETEK in the third quarter worth $2,462,000. Moss Adams Wealth Advisors LLC purchased a new position in shares of AMETEK during the third quarter valued at approximately $224,000. Finally, Americana Partners LLC purchased a new position in AMETEK during the third quarter worth about $245,000. Hedge funds and other institutional investors own 87.43% of the company’s stock.

Insiders Place Their Bets

In other AMETEK news, insider David Hermance sold 6,608 shares of the business’s stock in a transaction on Friday, August 7th. The shares were sold at an average price of $254.00, for a total value of $1,678,432.00. Following the sale, the insider owned 42,509 shares of the company’s stock, valued at $10,797,286. The trade was a 13.45% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. 0.54% of the stock is owned by corporate insiders.

Analyst Ratings Changes

A number of brokerages have recently issued reports on AME. Seaport Research Partners boosted their target price on AMETEK from $290.00 to $300.00 and gave the stock a “buy” rating in a report on Wednesday, September 2nd. Rothschild & Co Redburn increased their price target on AMETEK from $265.00 to $275.00 and gave the stock a “buy” rating in a research note on Wednesday, August 5th. Deutsche Bank Aktiengesellschaft upped their price target on shares of AMETEK from $288.00 to $318.00 and gave the company a “buy” rating in a report on Wednesday, September 30th. DA Davidson set a $285.00 price target on AMETEK in a research report on Wednesday, October 7th. Finally, BNP Paribas Exane increased their price objective on AMETEK from $280.00 to $290.00 and gave the stock an “outperform” rating in a research note on Friday, September 11th. One research analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and five have given a Hold rating to the company’s stock. According to MarketBeat, AMETEK presently has an average rating of “Moderate Buy” and an average target price of $277.19.

AMETEK Stock Up 0.4%

Shares of AME stock opened at $242.12 on Tuesday. The stock’s 50 day simple moving average is $243.59 and its 200 day simple moving average is $234.20. The company has a debt-to-equity ratio of 0.09, a quick ratio of 0.76 and a current ratio of 1.21. AMETEK, Inc. has a twelve month low of $188.47 and a twelve month high of $261.16. The company has a market capitalization of $55.49 billion, a price-to-earnings ratio of 31.17, a PEG ratio of 2.35 and a beta of 0.96.

AMETEK (NYSE:AME) last posted its quarterly earnings data on Tuesday, August 4th. The technology company reported $2.09 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.99 by $0.10. AMETEK had a net margin of 20.04% and a return on equity of 16.93%. The business had revenue of $2.04 billion during the quarter, compared to the consensus estimate of $1.95 billion. During the same period in the prior year, the firm earned $1.78 EPS. AMETEK’s quarterly revenue was up 15.0% compared to the same quarter last year. As a group, research analysts predict that AMETEK, Inc. will post 8.41 EPS for the current year.

AMETEK Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, September 30th. Investors of record on Tuesday, September 15th were paid a $0.34 dividend. This represents a $1.36 annualized dividend and a dividend yield of 0.6%. The ex-dividend date was Tuesday, September 15th. AMETEK’s dividend payout ratio (DPR) is presently 19.88%.

AMETEK Company Profile

AMETEK, Inc is a global manufacturer of industrial technology solutions. The company develops and produces advanced analytical, monitoring, testing, and measurement instruments, as well as engineered electromechanical products used in industrial, aerospace, defense, energy, medical, and other specialized markets.

AMETEK operates through two primary business groups: Electronic Instruments and Electromechanical. Its products include process and power monitoring systems, analytical instruments, automation and control technologies, aerospace and defense equipment, precision motion-control systems, motors, thermal-management solutions, engineered materials, and specialty metal products.

The company traces its roots to 1930 and has expanded through the development and acquisition of specialized technology businesses.