Hsbc Holdings PLC trimmed its position in AMETEK, Inc. (NYSE:AME – Free Report) by 4.0% during the fourth quarter, HoldingsChannel.com reports. The fund owned 1,263,488 shares of the technology company’s stock after selling 52,354 shares during the quarter. Hsbc Holdings PLC’s holdings in AMETEK were worth $259,582,000 at the end of the most recent reporting period.
Other institutional investors have also added to or reduced their stakes in the company. Darwin Wealth Management LLC bought a new stake in AMETEK during the second quarter worth $25,000. CoreCap Advisors LLC increased its stake in shares of AMETEK by 84.3% in the 4th quarter. CoreCap Advisors LLC now owns 129 shares of the technology company’s stock valued at $26,000 after purchasing an additional 59 shares during the last quarter. MV Capital Management Inc. acquired a new position in shares of AMETEK during the 4th quarter worth $28,000. BOKF NA raised its holdings in shares of AMETEK by 137.7% during the 4th quarter. BOKF NA now owns 145 shares of the technology company’s stock worth $30,000 after buying an additional 84 shares in the last quarter. Finally, Transamerica Financial Advisors LLC lifted its position in shares of AMETEK by 73.9% during the 4th quarter. Transamerica Financial Advisors LLC now owns 153 shares of the technology company’s stock worth $31,000 after buying an additional 65 shares during the last quarter. 87.43% of the stock is currently owned by institutional investors and hedge funds.
AMETEK Stock Performance
Shares of AMETEK stock opened at $237.27 on Friday. The stock has a market cap of $54.38 billion, a price-to-earnings ratio of 35.84, a P/E/G ratio of 3.33 and a beta of 1.00. AMETEK, Inc. has a twelve month low of $174.43 and a twelve month high of $243.18. The company’s fifty day moving average is $230.23 and its 200 day moving average is $221.68. The company has a quick ratio of 0.72, a current ratio of 1.14 and a debt-to-equity ratio of 0.10.
AMETEK Dividend Announcement
The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 30th. Investors of record on Monday, June 15th will be paid a $0.34 dividend. This represents a $1.36 dividend on an annualized basis and a dividend yield of 0.6%. The ex-dividend date of this dividend is Monday, June 15th. AMETEK’s payout ratio is currently 20.54%.
Insider Activity at AMETEK
In related news, Director Thomas A. Amato sold 530 shares of the company’s stock in a transaction that occurred on Tuesday, March 24th. The stock was sold at an average price of $216.78, for a total value of $114,893.40. Following the sale, the director directly owned 4,480 shares in the company, valued at $971,174.40. This represents a 10.58% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. 0.54% of the stock is currently owned by corporate insiders.
Analyst Upgrades and Downgrades
Several research firms recently weighed in on AME. BMO Capital Markets assumed coverage on AMETEK in a research note on Friday, March 27th. They issued an “outperform” rating and a $253.00 price objective on the stock. Truist Financial reissued a “buy” rating and issued a $275.00 target price (up from $265.00) on shares of AMETEK in a report on Monday, May 4th. Wall Street Zen downgraded shares of AMETEK from a “buy” rating to a “hold” rating in a research note on Sunday, May 10th. Morgan Stanley lifted their price target on shares of AMETEK from $215.00 to $235.00 and gave the company an “equal weight” rating in a report on Thursday, March 12th. Finally, Weiss Ratings cut shares of AMETEK from a “buy (b)” rating to a “buy (b-)” rating in a research report on Thursday, June 11th. One investment analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and five have assigned a Hold rating to the company. According to data from MarketBeat, AMETEK has a consensus rating of “Moderate Buy” and a consensus price target of $253.57.
Read Our Latest Stock Report on AME
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.
See Also
- Five stocks we like better than AMETEK
- Aehr Spikes on New Order, But Has Stock Gotten Ahead of Itself?
- Rackspace’s AI Land Grab: Plugging Into the Next Compute Boom
- Satellogic Is Tiny But Its Revenue Growth Is Hard to Ignore
- Why Kroger’s Pullback Could Be a Gift for Patient Investors
Want to see what other hedge funds are holding AME? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for AMETEK, Inc. (NYSE:AME – Free Report).
Receive News & Ratings for AMETEK Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for AMETEK and related companies with MarketBeat.com's FREE daily email newsletter.
