Nuveen Asset Management LLC Sells 207,013 Shares of AMETEK, Inc. (NYSE:AME)

Nuveen Asset Management LLC reduced its holdings in shares of AMETEK, Inc. (NYSE:AME) by 19.2% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 873,475 shares of the technology company’s stock after selling 207,013 shares during the quarter. Nuveen Asset Management LLC owned 0.38% of AMETEK worth $157,453,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently modified their holdings of AME. Banque Transatlantique SA purchased a new position in AMETEK in the 4th quarter worth about $37,000. AdvisorNet Financial Inc grew 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 worth $39,000 after acquiring an additional 200 shares during the period. Geneos Wealth Management Inc. raised its holdings in shares of AMETEK by 42.9% during the fourth quarter. Geneos Wealth Management Inc. now owns 233 shares of the technology company’s stock valued at $42,000 after purchasing an additional 70 shares during the last quarter. OFI Invest Asset Management bought a new position in AMETEK during the fourth quarter valued at approximately $43,000. Finally, Minot DeBlois Advisors LLC purchased a new stake in AMETEK in the fourth quarter worth approximately $43,000. 87.43% of the stock is owned by institutional investors.

Insider Buying and Selling at AMETEK

In related news, Director Steven W. Kohlhagen sold 1,320 shares of the stock in a transaction that occurred on Monday, March 3rd. The stock was sold at an average price of $189.41, for a total transaction of $250,021.20. Following the completion of the transaction, the director now directly owns 22,029 shares of the company’s stock, valued at approximately $4,172,512.89. This represents a 5.65% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Thomas A. Amato sold 710 shares of AMETEK 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 sale, the director now directly owns 10,560 shares in the company, valued at approximately $1,865,318.40. The trade was a 6.30% decrease in their position. The disclosure for this sale can be found here. 0.57% of the stock is currently owned by insiders.

AMETEK Stock Up 0.4%

NYSE AME opened at $180.12 on Friday. AMETEK, Inc. has a 52 week low of $145.02 and a 52 week high of $198.33. The company has a quick ratio of 0.75, a current ratio of 1.24 and a debt-to-equity ratio of 0.15. The company has a market capitalization of $41.59 billion, a P/E ratio of 30.37, a price-to-earnings-growth ratio of 2.73 and a beta of 1.12. The stock’s 50-day moving average price is $168.25 and its 200-day moving average price is $179.74.

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

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

AMETEK Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, June 30th. Investors of record on Friday, June 13th will be paid a dividend of $0.31 per share. The ex-dividend date of this dividend is Friday, June 13th. This represents a $1.24 annualized dividend and a yield of 0.69%. AMETEK’s payout ratio is 20.29%.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on AME shares. StockNews.com upgraded shares of AMETEK from a “hold” rating to a “buy” rating in a research note on Monday. Royal Bank of Canada lifted their price objective on AMETEK from $194.00 to $201.00 and gave the stock an “outperform” rating in a report on Friday, May 2nd. BNP Paribas raised AMETEK from a “neutral” rating to an “outperform” rating and set a $210.00 target price on the stock in a report on Thursday, January 16th. Truist Financial raised their target price on AMETEK from $196.00 to $200.00 and gave the stock a “buy” rating in a research report on Monday, May 5th. Finally, Robert W. Baird lowered their price objective on shares of AMETEK from $197.00 to $190.00 and set a “neutral” rating on the stock in a research note on Wednesday, May 7th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $196.90.

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.