Chevy Chase Trust Holdings LLC Sells 3,506 Shares of AMETEK, Inc. (NYSE:AME)

Chevy Chase Trust Holdings LLC lowered its stake in shares of AMETEK, Inc. (NYSE:AME) by 2.7% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 125,189 shares of the technology company’s stock after selling 3,506 shares during the period. Chevy Chase Trust Holdings LLC owned 0.05% of AMETEK worth $22,567,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also recently modified their holdings of the company. Oddo BHF Asset Management Sas bought a new stake in shares of AMETEK during the third quarter valued at approximately $3,724,000. Everence Capital Management Inc. purchased a new position in shares of AMETEK in the fourth quarter valued at $999,000. BNP Paribas Financial Markets grew its holdings in shares of AMETEK by 23.2% in the third quarter. BNP Paribas Financial Markets now owns 355,828 shares of the technology company’s stock valued at $61,099,000 after purchasing an additional 67,025 shares in the last quarter. Czech National Bank grew its holdings in shares of AMETEK by 6.3% in the fourth quarter. Czech National Bank now owns 50,153 shares of the technology company’s stock valued at $9,041,000 after purchasing an additional 2,987 shares in the last quarter. Finally, Taurus Asset Management LLC grew its holdings in shares of AMETEK by 2.9% in the third quarter. Taurus Asset Management LLC now owns 115,033 shares of the technology company’s stock valued at $19,752,000 after purchasing an additional 3,210 shares in the last quarter. Institutional investors own 87.43% of the company’s stock.

Analyst Ratings Changes

AME has been the subject of a number of recent research reports. Mizuho raised their target price on shares of AMETEK from $190.00 to $200.00 and gave the company an “outperform” rating in a report on Friday, November 1st. BNP Paribas raised shares of AMETEK from a “neutral” rating to an “outperform” rating and set a $210.00 target price for the company in a report on Thursday, January 16th. Bank of America raised shares of AMETEK from a “neutral” rating to a “buy” rating and raised their target price for the company from $195.00 to $225.00 in a report on Monday, December 16th. Robert W. Baird cut their target price on shares of AMETEK from $200.00 to $197.00 and set a “neutral” rating for the company in a report on Wednesday, February 5th. Finally, Truist Financial lifted their price objective on shares of AMETEK from $221.00 to $222.00 and gave the stock a “buy” rating in a research note on Thursday, January 16th. One research analyst has rated the stock with a sell rating, two have issued a hold rating, eight have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, AMETEK has a consensus rating of “Moderate Buy” and an average price target of $204.67.

AMETEK Stock Down 0.5 %

NYSE:AME opened at $183.42 on Friday. AMETEK, Inc. has a twelve month low of $149.03 and a twelve month high of $198.33. The company has a market cap of $42.43 billion, a price-to-earnings ratio of 30.93, a price-to-earnings-growth ratio of 2.68 and a beta of 1.16. The stock has a fifty day simple moving average of $183.19 and a 200-day simple moving average of $177.24. The company has a current ratio of 1.24, a quick ratio of 0.84 and a debt-to-equity ratio of 0.15.

AMETEK (NYSE:AME) last released its earnings results on Tuesday, February 4th. The technology company reported $1.87 earnings per share for the quarter, topping the consensus estimate of $1.85 by $0.02. AMETEK had a return on equity of 16.94% and a net margin of 19.83%. The business had revenue of $1.76 billion during the quarter, compared to the consensus estimate of $1.82 billion. During the same period last year, the company earned $1.68 earnings per share. The business’s revenue for the quarter was up 1.8% compared to the same quarter last year. Analysts anticipate that AMETEK, Inc. will post 7.15 EPS for the current year.

AMETEK Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Friday, March 14th will be issued a $0.31 dividend. This is an increase from AMETEK’s previous quarterly dividend of $0.28. This represents a $1.24 annualized dividend and a dividend yield of 0.68%. The ex-dividend date is Friday, March 14th. AMETEK’s payout ratio is presently 20.91%.

AMETEK declared that its Board of Directors has approved a share buyback program on Friday, February 7th that permits the company to repurchase $1.25 billion in shares. This repurchase authorization permits the technology company to purchase up to 2.9% of its stock through open market purchases. Stock repurchase programs are usually a sign that the company’s board believes its stock is undervalued.

Insider Activity at AMETEK

In related news, insider Tony J. Ciampitti sold 16,210 shares of AMETEK stock in a transaction dated Friday, November 22nd. The stock was sold at an average price of $197.01, for a total value of $3,193,532.10. Following the completion of the sale, the insider now directly owns 49,490 shares in the company, valued at $9,750,024.90. The trade was a 24.67 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, insider Emanuela Speranza sold 6,747 shares of AMETEK stock in a transaction dated Tuesday, November 26th. The shares were sold at an average price of $195.90, for a total value of $1,321,737.30. Following the completion of the sale, the insider now owns 30,460 shares of the company’s stock, valued at $5,967,114. The trade was a 18.13 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.61% of the stock is currently owned by corporate insiders.

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.