Petredis Investment Advisors LLC Lowers Holdings in AMETEK, Inc. (NYSE:AME)

Petredis Investment Advisors LLC reduced its position in AMETEK, Inc. (NYSE:AME) by 20.1% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 31,527 shares of the technology company’s stock after selling 7,924 shares during the quarter. Petredis Investment Advisors LLC’s holdings in AMETEK were worth $5,683,000 as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in AME. Versant Capital Management Inc raised its holdings in shares of AMETEK by 3,116.7% in the 4th quarter. Versant Capital Management Inc now owns 193 shares of the technology company’s stock valued at $35,000 after purchasing an additional 187 shares in the last quarter. Itau Unibanco Holding S.A. raised its stake in AMETEK by 62.6% in the third quarter. Itau Unibanco Holding S.A. now owns 200 shares of the technology company’s stock worth $34,000 after buying an additional 77 shares in the last quarter. AdvisorNet Financial Inc lifted its holdings in AMETEK by 1,176.5% during the fourth quarter. AdvisorNet Financial Inc now owns 217 shares of the technology company’s stock worth $39,000 after buying an additional 200 shares during the period. Princeton Global Asset Management LLC bought a new stake in AMETEK during the 3rd quarter valued at $44,000. Finally, Anchor Investment Management LLC increased its holdings in shares of AMETEK by 366.1% in the 3rd quarter. Anchor Investment Management LLC now owns 261 shares of the technology company’s stock valued at $45,000 after acquiring an additional 205 shares during the period. 87.43% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other news, insider Emanuela Speranza sold 6,747 shares of AMETEK stock in a transaction dated Tuesday, November 26th. The stock was sold at an average price of $195.90, for a total transaction of $1,321,737.30. Following the sale, the insider now owns 30,460 shares in the company, valued at approximately $5,967,114. The trade was a 18.13 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Tony J. Ciampitti sold 16,210 shares of the company’s stock in a transaction dated Friday, November 22nd. The shares were 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 of the company’s stock, valued at approximately $9,750,024.90. This trade represents a 24.67 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 29,200 shares of company stock worth $5,707,620 over the last 90 days. 0.61% of the stock is owned by insiders.

AMETEK Stock Performance

Shares of AMETEK stock opened at $187.91 on Friday. The firm has a market cap of $43.47 billion, a PE ratio of 32.74, a price-to-earnings-growth ratio of 2.73 and a beta of 1.16. The company has a quick ratio of 0.84, a current ratio of 1.39 and a debt-to-equity ratio of 0.18. AMETEK, Inc. has a 52 week low of $149.03 and a 52 week high of $198.33. The business’s fifty day simple moving average is $186.57 and its 200-day simple moving average is $175.68.

AMETEK (NYSE:AME) last announced its quarterly earnings data on Thursday, October 31st. The technology company reported $1.66 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.62 by $0.04. AMETEK had a return on equity of 16.88% and a net margin of 19.27%. The business had revenue of $1.71 billion during the quarter, compared to analysts’ expectations of $1.71 billion. During the same quarter last year, the business posted $1.64 EPS. The business’s quarterly revenue was up 5.3% compared to the same quarter last year. Equities analysts forecast that AMETEK, Inc. will post 6.8 earnings per share for the current year.

AMETEK Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, December 20th. Stockholders of record on Friday, December 6th were given a dividend of $0.28 per share. This represents a $1.12 annualized dividend and a dividend yield of 0.60%. The ex-dividend date of this dividend was Friday, December 6th. AMETEK’s dividend payout ratio (DPR) is presently 19.51%.

Analysts Set New Price Targets

A number of equities analysts have commented on AME shares. Truist Financial boosted their target price on shares of AMETEK from $221.00 to $222.00 and gave the stock a “buy” rating in a report on Thursday, January 16th. Mizuho boosted their price objective on shares of AMETEK from $190.00 to $200.00 and gave the stock an “outperform” rating in a research note on Friday, November 1st. BNP Paribas upgraded shares of AMETEK from a “neutral” rating to an “outperform” rating and set a $210.00 target price for the company in a research note on Thursday, January 16th. TD Cowen lowered shares of AMETEK from a “hold” rating to a “sell” rating in a report on Monday, October 7th. Finally, KeyCorp increased their price objective on AMETEK from $205.00 to $215.00 and gave the company an “overweight” rating in a report on Friday, November 22nd. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating, seven have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, AMETEK currently has an average rating of “Moderate Buy” and a consensus price target of $203.44.

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.