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JLB & Associates Inc. Lowers Stock Holdings in AMETEK, Inc. (NYSE:AME)

Financial News Live · Sep 27, 2022 15:31

JLB & Associates Inc. reduced its position in AMETEK, Inc. (NYSE:AME – Get Rating) by 2.6% in the 2nd quarter, according to its most recent filing with the SEC. The firm owned 80,072 shares of the technology company's stock after selling 2,138 shares during the period. AMETEK comprises approximately 1.5% of JLB & Associates Inc.'s holdings, making the stock its 29th biggest holding. JLB & Associates Inc.'s holdings in AMETEK were worth $8,799,000 at the end of the most recent quarter.

Other institutional investors also recently made changes to their positions in the company. AIA Group Ltd boosted its holdings in shares of AMETEK by 69.4% in the first quarter. AIA Group Ltd now owns 625 shares of the technology company's stock valued at $83,000 after acquiring an additional 256 shares in the last quarter. Avantax Advisory Services Inc. acquired a new position in AMETEK in the 1st quarter valued at $225,000. South Dakota Investment Council acquired a new position in AMETEK in the 1st quarter valued at $93,000. Metis Global Partners LLC grew its stake in AMETEK by 81.3% in the 1st quarter. Metis Global Partners LLC now owns 3,660 shares of the technology company's stock valued at $487,000 after buying an additional 1,641 shares during the last quarter. Finally, DNB Asset Management AS grew its stake in AMETEK by 13.8% in the 1st quarter. DNB Asset Management AS now owns 54,704 shares of the technology company's stock valued at $7,285,000 after buying an additional 6,635 shares during the last quarter. 85.46% of the stock is owned by hedge funds and other institutional investors.

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Wall Street Analyst Weigh In

A number of analysts have weighed in on AME shares. Mizuho increased their price target on shares of AMETEK from $135.00 to $140.00 and gave the company a "buy" rating in a report on Wednesday, August 3rd. Morgan Stanley increased their price target on shares of AMETEK from $135.00 to $145.00 and gave the company an "overweight" rating in a report on Wednesday, August 3rd. Royal Bank of Canada reissued an "outperform" rating on shares of AMETEK in a report on Wednesday, August 3rd. StockNews.com raised shares of AMETEK from a "hold" rating to a "buy" rating in a report on Friday, September 16th. Finally, DA Davidson raised their price objective on shares of AMETEK to $160.00 in a report on Tuesday, August 9th. Two research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company's stock. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average price target of $148.56.

Insider Transactions at AMETEK

In other news, Director Steven W. Kohlhagen sold 3,000 shares of the stock in a transaction dated Wednesday, August 10th. The shares were sold at an average price of $126.81, for a total value of $380,430.00. Following the completion of the transaction, the director now owns 45,964 shares of the company's stock, valued at $5,828,694.84. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, Director Steven W. Kohlhagen sold 3,000 shares of the firm's stock in a transaction that occurred on Wednesday, August 10th. The shares were sold at an average price of $126.81, for a total value of $380,430.00. Following the completion of the transaction, the director now owns 45,964 shares in the company, valued at approximately $5,828,694.84. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Director Steven W. Kohlhagen sold 3,100 shares of the stock in a transaction that occurred on Thursday, September 8th. The shares were sold at an average price of $123.75, for a total transaction of $383,625.00. Following the sale, the director now directly owns 42,864 shares of the company's stock, valued at approximately $5,304,420. The disclosure for this sale can be found here. Company insiders own 0.72% of the company's stock.

AMETEK Stock Down 1.7 %

Shares of AME stock traded down $1.93 during trading on Tuesday, reaching $111.74. The company's stock had a trading volume of 32,212 shares, compared to its average volume of 961,912. The company has a market cap of $25.65 billion, a price-to-earnings ratio of 23.69, a price-to-earnings-growth ratio of 2.22 and a beta of 1.26. AMETEK, Inc. has a one year low of $106.17 and a one year high of $148.07. The business has a fifty day moving average price of $122.27 and a 200-day moving average price of $122.09. The company has a quick ratio of 0.88, a current ratio of 1.48 and a debt-to-equity ratio of 0.31.

AMETEK (NYSE:AME – Get Rating) last released its quarterly earnings results on Tuesday, August 2nd. The technology company reported $1.38 EPS for the quarter, beating the consensus estimate of $1.29 by $0.09. AMETEK had a net margin of 18.49% and a return on equity of 18.20%. The business had revenue of $1.51 billion for the quarter, compared to the consensus estimate of $1.46 billion. During the same period in the prior year, the company posted $1.15 earnings per share. AMETEK's revenue was up 9.2% compared to the same quarter last year. Analysts anticipate that AMETEK, Inc. will post 5.52 earnings per share for the current year.

AMETEK Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, September 30th. Stockholders of record on Wednesday, September 14th will be issued a $0.22 dividend. The ex-dividend date is Tuesday, September 13th. This represents a $0.88 dividend on an annualized basis and a dividend yield of 0.79%. AMETEK's dividend payout ratio (DPR) is currently 18.72%.

AMETEK Company Profile

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AMETEK, Inc manufactures and sells electronic instruments and electromechanical devices worldwide. It operates in two segments, Electronic Instruments (EIG) and Electromechanical (EMG). 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; and instruments to the laboratory equipment, ultra-precision manufacturing, medical, and test and measurement markets.