Central Pacific Bank Trust Division Cuts Stake in AMETEK, Inc. (NYSE:AME)

Central Pacific Bank Trust Division reduced its position in AMETEK, Inc. (NYSE:AME) by 94.3% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 214 shares of the technology company’s stock after selling 3,560 shares during the quarter. Central Pacific Bank Trust Division’s holdings in AMETEK were worth $37,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in AME. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main lifted its position in AMETEK by 11.2% during the fourth quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 1,669,394 shares of the technology company’s stock valued at $275,266,000 after purchasing an additional 167,602 shares during the period. Cim LLC acquired a new position in AMETEK during the fourth quarter valued at $1,254,000. Nomura Holdings Inc. acquired a new position in AMETEK during the fourth quarter valued at $768,000. Czech National Bank lifted its position in AMETEK by 8.6% during the second quarter. Czech National Bank now owns 44,108 shares of the technology company’s stock valued at $7,353,000 after purchasing an additional 3,499 shares during the period. Finally, Duality Advisers LP acquired a new position in AMETEK during the first quarter valued at $1,676,000. 87.43% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other news, Director Steven W. Kohlhagen sold 1,460 shares of the stock in a transaction that occurred on Wednesday, September 25th. The shares were sold at an average price of $171.59, for a total value of $250,521.40. Following the completion of the sale, the director now owns 23,349 shares of the company’s stock, valued at $4,006,454.91. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Corporate insiders own 0.61% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts recently issued reports on AME shares. Robert W. Baird decreased their price objective on shares of AMETEK from $171.00 to $166.00 and set a “neutral” rating for the company in a research report on Wednesday, August 7th. Royal Bank of Canada decreased their price objective on shares of AMETEK from $216.00 to $215.00 and set an “outperform” rating for the company in a research report on Friday, August 2nd. TD Cowen decreased their price objective on shares of AMETEK from $165.00 to $158.00 and set a “hold” rating for the company in a research report on Monday, August 5th. Wolfe Research upgraded shares of AMETEK to a “hold” rating in a research report on Wednesday, September 18th. Finally, Truist Financial decreased their price objective on shares of AMETEK from $204.00 to $201.00 and set a “buy” rating for the company in a research report on Friday, August 2nd. Five analysts have rated the stock with a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, AMETEK presently has a consensus rating of “Moderate Buy” and an average target price of $186.29.

AMETEK Price Performance

NYSE AME traded up $1.01 during trading hours on Friday, hitting $170.11. 718,388 shares of the company’s stock traded hands, compared to its average volume of 1,135,349. AMETEK, Inc. has a 52-week low of $136.89 and a 52-week high of $186.32. The company has a market capitalization of $39.38 billion, a PE ratio of 29.90, a PEG ratio of 2.81 and a beta of 1.17. 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 firm’s 50-day moving average is $166.34 and its 200-day moving average is $170.64.

AMETEK (NYSE:AME) last announced its quarterly earnings data on Thursday, August 1st. The technology company reported $1.66 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.64 by $0.02. AMETEK had a net margin of 19.51% and a return on equity of 17.41%. The company had revenue of $1.73 billion during the quarter, compared to analysts’ expectations of $1.78 billion. During the same quarter in the prior year, the company earned $1.57 EPS. AMETEK’s revenue was up 5.4% compared to the same quarter last year. Equities analysts forecast that AMETEK, Inc. will post 6.77 EPS for the current fiscal year.

AMETEK Announces Dividend

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

About AMETEK

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.