The Manufacturers Life Insurance Company Trims Stock Position in AMETEK, Inc. $AME

The Manufacturers Life Insurance Company reduced its holdings in shares of AMETEK, Inc. (NYSE:AME) by 28.1% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 146,353 shares of the technology company’s stock after selling 57,200 shares during the period. The Manufacturers Life Insurance Company owned about 0.06% of AMETEK worth $31,372,000 at the end of the most recent quarter.

A number of other hedge funds have also recently modified their holdings of the business. Darwin Wealth Management LLC purchased a new position in shares of AMETEK during the 2nd quarter valued at about $25,000. CoreCap Advisors LLC increased its holdings in AMETEK by 84.3% in the 4th quarter. CoreCap Advisors LLC now owns 129 shares of the technology company’s stock worth $26,000 after acquiring an additional 59 shares in the last quarter. MV Capital Management Inc. bought a new stake in AMETEK during the 4th quarter worth approximately $28,000. Brown Lisle Cummings Inc. raised its stake in AMETEK by 878.6% during the 1st quarter. Brown Lisle Cummings Inc. now owns 137 shares of the technology company’s stock worth $29,000 after acquiring an additional 123 shares during the period. Finally, BOKF NA lifted its holdings in AMETEK by 137.7% during the fourth quarter. BOKF NA now owns 145 shares of the technology company’s stock valued at $30,000 after purchasing an additional 84 shares in the last quarter. Institutional investors own 87.43% of the company’s stock.

AMETEK Stock Performance

Shares of NYSE:AME opened at $242.19 on Friday. The firm’s 50 day simple moving average is $233.57 and its 200-day simple moving average is $228.52. The company has a debt-to-equity ratio of 0.10, a quick ratio of 0.72 and a current ratio of 1.14. AMETEK, Inc. has a one year low of $179.24 and a one year high of $244.97. The firm has a market cap of $55.51 billion, a PE ratio of 36.58, a price-to-earnings-growth ratio of 3.36 and a beta of 0.99.

AMETEK (NYSE:AME) last posted its earnings results on Thursday, April 30th. The technology company reported $1.97 EPS for the quarter, beating analysts’ consensus estimates of $1.90 by $0.07. AMETEK had a net margin of 20.11% and a return on equity of 16.63%. The business had revenue of $1.93 billion for the quarter, compared to the consensus estimate of $1.91 billion. During the same quarter last year, the firm posted $1.75 EPS. The company’s revenue for the quarter was up 11.3% on a year-over-year basis. As a group, equities analysts predict that AMETEK, Inc. will post 8.14 EPS for the current year.

AMETEK Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, June 30th. Stockholders of record on Monday, June 15th were given a $0.34 dividend. The ex-dividend date of this dividend was Monday, June 15th. This represents a $1.36 dividend on an annualized basis and a dividend yield of 0.6%. AMETEK’s dividend payout ratio (DPR) is presently 20.54%.

Analyst Ratings Changes

A number of research analysts recently commented on AME shares. DA Davidson reissued a “buy” rating and issued a $265.00 price target on shares of AMETEK in a report on Monday, May 4th. Royal Bank Of Canada boosted their target price on shares of AMETEK from $259.00 to $260.00 and gave the stock an “outperform” rating in a report on Friday, May 1st. Wall Street Zen lowered shares of AMETEK from a “buy” rating to a “hold” rating in a research report on Sunday, May 10th. Citigroup assumed coverage on shares of AMETEK in a research note on Monday, June 15th. They set a “neutral” rating and a $257.00 target price for the company. Finally, Truist Financial lifted their price target on shares of AMETEK from $275.00 to $303.00 and gave the company a “buy” rating in a report on Thursday, July 2nd. One equities research analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and five have issued a Hold rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $256.29.

AMETEK Company Profile

AMETEK, Inc is a global manufacturer of electronic instruments and electromechanical devices that serves a broad range of industries. Headquartered in Berwyn, Pennsylvania, the company designs and produces precision instruments, electronic measurement devices, specialty sensors, and electric motors and motion control systems. Its product portfolio includes analytical and monitoring instruments, calibration equipment, power supplies, embedded electronics, and industrial motors and drives used for critical applications.

The company operates through two primary business platforms — an electronic instruments group focused on analytical, test and measurement and sensor products, and an electromechanical group that supplies motors, actuators, and related power and motion solutions.