Sumitomo Mitsui Trust Holdings Inc. Has $99.80 Million Holdings in AMETEK, Inc. (NYSE:AME)

Sumitomo Mitsui Trust Holdings Inc. cut its stake in AMETEK, Inc. (NYSE:AME) by 0.2% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 545,650 shares of the technology company’s stock after selling 1,024 shares during the period. Sumitomo Mitsui Trust Holdings Inc. owned approximately 0.24% of AMETEK worth $99,799,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in AME. Norges Bank acquired a new position in AMETEK in the 4th quarter worth $589,098,000. Morgan Stanley boosted its stake in shares of AMETEK by 19.2% during the 3rd quarter. Morgan Stanley now owns 4,189,108 shares of the technology company’s stock worth $618,983,000 after buying an additional 674,549 shares during the last quarter. Bank Julius Baer & Co. Ltd Zurich boosted its stake in shares of AMETEK by 4,845.8% during the 4th quarter. Bank Julius Baer & Co. Ltd Zurich now owns 677,075 shares of the technology company’s stock worth $111,643,000 after buying an additional 663,385 shares during the last quarter. Maren Capital LLC acquired a new position in shares of AMETEK during the 4th quarter worth about $64,284,000. Finally, The Manufacturers Life Insurance Company boosted its stake in shares of AMETEK by 52.9% during the 3rd quarter. The Manufacturers Life Insurance Company now owns 1,032,796 shares of the technology company’s stock worth $152,606,000 after buying an additional 357,212 shares during the last quarter. 87.43% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at AMETEK

In other AMETEK news, Director Steven W. Kohlhagen sold 1,440 shares of the stock in a transaction dated Wednesday, June 12th. The shares were sold at an average price of $173.93, for a total value of $250,459.20. Following the transaction, the director now directly owns 24,809 shares of the company’s stock, valued at approximately $4,315,029.37. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other AMETEK news, Director Steven W. Kohlhagen sold 1,470 shares of the stock in a transaction that occurred on Wednesday, May 15th. The shares were sold at an average price of $170.20, for a total transaction of $250,194.00. Following the transaction, the director now owns 26,249 shares in the company, valued at approximately $4,467,579.80. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Steven W. Kohlhagen sold 1,440 shares of the stock in a transaction that occurred on Wednesday, June 12th. The stock was sold at an average price of $173.93, for a total transaction of $250,459.20. Following the transaction, the director now owns 24,809 shares in the company, valued at approximately $4,315,029.37. The disclosure for this sale can be found here. Insiders own 0.61% of the company’s stock.

Wall Street Analyst Weigh In

AME has been the subject of a number of recent research reports. Truist Financial reduced their price objective on shares of AMETEK from $210.00 to $204.00 and set a “buy” rating for the company in a research note on Tuesday. StockNews.com downgraded shares of AMETEK from a “buy” rating to a “hold” rating in a research note on Tuesday, June 18th. Robert W. Baird reduced their price objective on shares of AMETEK from $173.00 to $171.00 and set a “neutral” rating for the company in a research note on Monday, May 6th. Finally, Oppenheimer upgraded shares of AMETEK from a “market perform” rating to an “outperform” rating and set a $200.00 price objective for the company in a research note on Wednesday, May 22nd. Four equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $181.20.

AMETEK Stock Up 0.1 %

Shares of AME stock opened at $166.30 on Thursday. The stock has a market cap of $38.49 billion, a price-to-earnings ratio of 29.23, a PEG ratio of 2.67 and a beta of 1.18. The company has a debt-to-equity ratio of 0.21, a quick ratio of 0.66 and a current ratio of 1.11. AMETEK, Inc. has a 52-week low of $136.89 and a 52-week high of $186.32. The firm’s 50-day moving average is $170.09 and its 200-day moving average is $171.77.

AMETEK (NYSE:AME) last released its quarterly earnings results on Thursday, May 2nd. The technology company reported $1.64 earnings per share for the quarter, beating 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 19.57% and a return on equity of 17.74%. The business’s revenue was up 9.0% on a year-over-year basis. During the same period in the prior year, the firm earned $1.49 EPS. Sell-side analysts predict that AMETEK, Inc. will post 6.83 EPS for the current year.

AMETEK Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, June 28th. Shareholders of record on Friday, June 14th were issued a $0.28 dividend. The ex-dividend date was Friday, June 14th. This represents a $1.12 annualized dividend and a yield of 0.67%. AMETEK’s dividend payout ratio is currently 19.68%.

AMETEK 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.