Truist Financial Corp Sells 359 Shares of AMETEK, Inc. (NYSE:AME)

Truist Financial Corp trimmed its position in shares of AMETEK, Inc. (NYSE:AME) by 0.7% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 48,756 shares of the technology company’s stock after selling 359 shares during the period. Truist Financial Corp’s holdings in AMETEK were worth $8,128,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of AME. EP Wealth Advisors LLC increased its stake in shares of AMETEK by 1.1% during the second quarter. EP Wealth Advisors LLC now owns 6,330 shares of the technology company’s stock valued at $1,055,000 after buying an additional 71 shares during the period. Wallace Advisory Group LLC bought a new stake in shares of AMETEK during the 2nd quarter valued at about $229,000. Creative Planning raised its stake in AMETEK by 4.9% in the second quarter. Creative Planning now owns 23,946 shares of the technology company’s stock worth $3,992,000 after buying an additional 1,121 shares in the last quarter. Ascent Group LLC raised its position in shares of AMETEK by 8.2% in the 2nd quarter. Ascent Group LLC now owns 35,775 shares of the technology company’s stock worth $5,964,000 after acquiring an additional 2,701 shares in the last quarter. Finally, Goodman Advisory Group LLC purchased a new position in shares of AMETEK in the 2nd quarter valued at approximately $288,000. 87.43% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other news, Director Steven W. Kohlhagen sold 1,460 shares of AMETEK stock in a transaction dated Wednesday, September 25th. The stock was sold at an average price of $171.59, for a total value of $250,521.40. Following the sale, the director now directly owns 23,349 shares of the company’s stock, valued at approximately $4,006,454.91. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders own 0.61% of the company’s stock.

Analysts Set New Price Targets

AME has been the topic of several recent research reports. Wolfe Research raised AMETEK to a “hold” rating in a research note on Wednesday, September 18th. Royal Bank of Canada decreased their target price on shares of AMETEK from $216.00 to $215.00 and set an “outperform” rating for the company in a research note on Friday, August 2nd. StockNews.com cut AMETEK from a “buy” rating to a “hold” rating in a research report on Tuesday, August 6th. Redburn Atlantic upgraded AMETEK to a “strong-buy” rating in a report on Friday, August 2nd. Finally, Truist Financial dropped their price target on shares of AMETEK from $204.00 to $201.00 and set a “buy” rating on the stock in a research note on Friday, August 2nd. Four equities research analysts have rated the stock with a hold rating, four have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, AMETEK presently has a consensus rating of “Moderate Buy” and a consensus price target of $190.83.

AMETEK Trading Up 0.6 %

Shares of NYSE:AME opened at $170.11 on Friday. The company has a debt-to-equity ratio of 0.20, a current ratio of 1.26 and a quick ratio of 0.76. The company has a market cap of $39.38 billion, a P/E ratio of 29.90, a PEG ratio of 2.81 and a beta of 1.17. The stock’s fifty day moving average price is $166.34 and its 200-day moving average price is $170.56. AMETEK, Inc. has a 1 year low of $136.89 and a 1 year high of $186.32.

AMETEK (NYSE:AME) last released its quarterly earnings results on Thursday, August 1st. The technology company reported $1.66 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.64 by $0.02. The firm had revenue of $1.73 billion for the quarter, compared to the consensus estimate of $1.78 billion. AMETEK had a return on equity of 17.41% and a net margin of 19.51%. The company’s revenue for the quarter was up 5.4% on a year-over-year basis. During the same period last year, the business posted $1.57 EPS. Sell-side analysts expect that AMETEK, Inc. will post 6.77 earnings per share for the current year.

AMETEK Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, September 30th. Shareholders of record on Monday, September 16th were given a $0.28 dividend. The ex-dividend date of this dividend was Monday, September 16th. This represents a $1.12 annualized dividend and a yield of 0.66%. AMETEK’s payout ratio is presently 19.68%.

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.