Carret Asset Management LLC Reduces Stock Holdings in AMETEK, Inc. (NYSE:AME)

Carret Asset Management LLC decreased its stake in AMETEK, Inc. (NYSE:AME) by 6.2% in the first quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 8,275 shares of the technology company’s stock after selling 550 shares during the quarter. Carret Asset Management LLC’s holdings in AMETEK were worth $1,424,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of AME. Norges Bank purchased a new position in shares of AMETEK in the 4th quarter worth approximately $697,080,000. Capital World Investors boosted its holdings in shares of AMETEK by 70.0% in the 4th quarter. Capital World Investors now owns 5,760,017 shares of the technology company’s stock worth $1,038,301,000 after purchasing an additional 2,371,062 shares during the period. Lazard Asset Management LLC boosted its holdings in shares of AMETEK by 393.1% in the 4th quarter. Lazard Asset Management LLC now owns 1,215,087 shares of the technology company’s stock worth $219,030,000 after purchasing an additional 968,661 shares during the period. GAMMA Investing LLC boosted its holdings in shares of AMETEK by 18,368.3% in the 1st quarter. GAMMA Investing LLC now owns 973,280 shares of the technology company’s stock worth $167,540,000 after purchasing an additional 968,010 shares during the period. Finally, American Century Companies Inc. boosted its holdings in shares of AMETEK by 240.3% in the 4th quarter. American Century Companies Inc. now owns 1,125,068 shares of the technology company’s stock worth $202,805,000 after purchasing an additional 794,473 shares during the period. Hedge funds and other institutional investors own 87.43% of the company’s stock.

Insider Transactions at AMETEK

In other news, Director Thomas A. Amato sold 710 shares of the business’s stock in a transaction on Thursday, March 27th. The stock was sold at an average price of $176.64, for a total value of $125,414.40. Following the completion of the transaction, the director now directly owns 10,560 shares of the company’s stock, valued at approximately $1,865,318.40. The trade was a 6.30% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Corporate insiders own 0.57% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts recently issued reports on the company. Royal Bank Of Canada boosted their price objective on AMETEK from $194.00 to $201.00 and gave the company an “outperform” rating in a report on Friday, May 2nd. Morgan Stanley assumed coverage on AMETEK in a report on Monday, April 14th. They set an “equal weight” rating and a $170.00 price objective for the company. Truist Financial boosted their price objective on AMETEK from $196.00 to $200.00 and gave the company a “buy” rating in a report on Monday, May 5th. Wall Street Zen upgraded AMETEK from a “hold” rating to a “buy” rating in a report on Monday, May 12th. Finally, Mizuho set a $212.00 price objective on AMETEK in a report on Friday, May 16th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, AMETEK has a consensus rating of “Moderate Buy” and an average price target of $197.89.

AMETEK Trading Down 0.7%

Shares of NYSE AME opened at $176.59 on Friday. The company has a quick ratio of 0.86, a current ratio of 1.41 and a debt-to-equity ratio of 0.15. The business has a fifty day simple moving average of $173.25 and a two-hundred day simple moving average of $177.70. The firm has a market cap of $40.77 billion, a PE ratio of 28.90, a price-to-earnings-growth ratio of 2.66 and a beta of 1.10. AMETEK, Inc. has a twelve month low of $145.02 and a twelve month high of $198.33.

AMETEK (NYSE:AME) last issued its earnings results on Thursday, May 1st. The technology company reported $1.75 earnings per share for the quarter, beating analysts’ consensus estimates of $1.69 by $0.06. The business had revenue of $1.73 billion during the quarter, compared to analyst estimates of $1.74 billion. AMETEK had a return on equity of 16.75% and a net margin of 20.43%. AMETEK’s revenue was down .2% on a year-over-year basis. During the same period in the previous year, the company posted $1.64 EPS. Analysts expect that AMETEK, Inc. will post 7.15 earnings per share for the current fiscal year.

AMETEK Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, June 30th. Stockholders of record on Friday, June 13th will be given a $0.31 dividend. This represents a $1.24 annualized dividend and a dividend yield of 0.70%. The ex-dividend date of this dividend is Friday, June 13th. AMETEK’s payout ratio is 20.29%.

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.