Deutsche Bank AG Sells 50,574 Shares of AMETEK, Inc. (NYSE:AME)

Deutsche Bank AG decreased its stake in AMETEK, Inc. (NYSE:AME) by 3.6% during the 4th quarter, HoldingsChannel.com reports. The fund owned 1,365,165 shares of the technology company’s stock after selling 50,574 shares during the period. Deutsche Bank AG’s holdings in AMETEK were worth $246,085,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in AME. Banque Transatlantique SA purchased a new position in AMETEK in the fourth quarter valued at approximately $37,000. AdvisorNet Financial Inc raised its stake in shares of AMETEK by 1,176.5% in the fourth quarter. AdvisorNet Financial Inc now owns 217 shares of the technology company’s stock valued at $39,000 after buying an additional 200 shares during the period. Geneos Wealth Management Inc. grew its stake in shares of AMETEK by 42.9% during the 4th quarter. Geneos Wealth Management Inc. now owns 233 shares of the technology company’s stock worth $42,000 after acquiring an additional 70 shares during the period. OFI Invest Asset Management purchased a new stake in AMETEK in the 4th quarter worth about $43,000. Finally, Quent Capital LLC raised its stake in AMETEK by 60.9% in the 4th quarter. Quent Capital LLC now owns 251 shares of the technology company’s stock valued at $45,000 after acquiring an additional 95 shares during the period. 87.43% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

AME has been the subject of a number of research reports. Royal Bank of Canada increased their target price on shares of AMETEK from $194.00 to $201.00 and gave the stock an “outperform” rating in a research report on Friday, May 2nd. Robert W. Baird reduced their target price on AMETEK from $197.00 to $190.00 and set a “neutral” rating for the company in a report on Wednesday. StockNews.com cut AMETEK from a “buy” rating to a “hold” rating in a research report on Friday, April 11th. Truist Financial raised their price objective on shares of AMETEK from $196.00 to $200.00 and gave the company a “buy” rating in a research report on Monday. Finally, Morgan Stanley started coverage on AMETEK in a research report on Monday, April 14th. They issued an “equal weight” rating and a $170.00 target price for the company. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $196.90.

Insider Transactions at AMETEK

In other news, Director Thomas A. Amato sold 710 shares of the firm’s stock in a transaction that occurred 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 owns 10,560 shares in the company, valued at $1,865,318.40. This trade represents a 6.30 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Steven W. Kohlhagen sold 1,320 shares of the company’s stock in a transaction on Monday, March 3rd. The stock was sold at an average price of $189.41, for a total value of $250,021.20. Following the completion of the sale, the director now directly owns 22,029 shares in the company, valued at approximately $4,172,512.89. The trade was a 5.65 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 0.57% of the company’s stock.

AMETEK Trading Up 1.1 %

Shares of AME opened at $171.57 on Friday. The firm has a fifty day simple moving average of $168.74 and a two-hundred day simple moving average of $179.36. AMETEK, Inc. has a twelve month low of $145.02 and a twelve month high of $198.33. The stock has a market capitalization of $39.61 billion, a P/E ratio of 28.93, a PEG ratio of 2.73 and a beta of 1.12. The company has a quick ratio of 0.75, a current ratio of 1.24 and a debt-to-equity ratio of 0.15.

AMETEK (NYSE:AME) last posted its earnings results on Thursday, May 1st. The technology company reported $1.75 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.69 by $0.06. AMETEK had a return on equity of 16.94% and a net margin of 19.83%. The company had revenue of $1.73 billion for the quarter, compared to analysts’ expectations of $1.74 billion. During the same period last year, the firm earned $1.64 earnings per share. AMETEK’s quarterly revenue was down .2% on a year-over-year basis. On average, research analysts anticipate that AMETEK, Inc. will post 7.15 EPS for the current year.

AMETEK Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 30th. Shareholders of record on Friday, June 13th will be issued a $0.31 dividend. This represents a $1.24 annualized dividend and a yield of 0.72%. AMETEK’s dividend payout ratio (DPR) is presently 20.29%.

AMETEK declared that its board has authorized a share buyback plan on Friday, February 7th that authorizes the company to buyback $1.25 billion in shares. This buyback authorization authorizes the technology company to reacquire up to 2.9% of its shares through open market purchases. Shares buyback plans are generally an indication that the company’s leadership believes its shares are undervalued.

AMETEK Company 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.