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

JLB & Associates Inc. lowered its holdings in AMETEK, Inc. (NYSE:AME) by 2.5% in the 1st quarter, Holdings Channel reports. The firm owned 65,024 shares of the technology company’s stock after selling 1,653 shares during the period. AMETEK accounts for 1.6% of JLB & Associates Inc.’s portfolio, making the stock its 27th biggest holding. JLB & Associates Inc.’s holdings in AMETEK were worth $11,193,000 at the end of the most recent reporting period.

Several other institutional investors also recently modified their holdings of the business. Kensington Investment Counsel LLC raised its position in AMETEK by 0.5% in the 4th quarter. Kensington Investment Counsel LLC now owns 14,277 shares of the technology company’s stock worth $2,574,000 after buying an additional 66 shares during the last quarter. Howard Capital Management Inc. raised its holdings in shares of AMETEK by 5.0% during the fourth quarter. Howard Capital Management Inc. now owns 1,501 shares of the technology company’s stock valued at $271,000 after purchasing an additional 72 shares during the last quarter. Level Four Advisory Services LLC lifted its position in AMETEK by 3.1% during the fourth quarter. Level Four Advisory Services LLC now owns 2,624 shares of the technology company’s stock valued at $473,000 after purchasing an additional 80 shares during the period. Fifth Third Wealth Advisors LLC boosted its holdings in AMETEK by 3.8% in the first quarter. Fifth Third Wealth Advisors LLC now owns 2,218 shares of the technology company’s stock worth $382,000 after purchasing an additional 82 shares during the last quarter. Finally, Net Worth Advisory Group grew its position in AMETEK by 1.8% in the 4th quarter. Net Worth Advisory Group now owns 4,834 shares of the technology company’s stock worth $871,000 after purchasing an additional 87 shares during the period. 87.43% of the stock is owned by hedge funds and other institutional investors.

AMETEK Stock Up 0.9%

NYSE AME opened at $178.55 on Tuesday. The stock’s 50-day moving average price is $171.87 and its 200-day moving average price is $177.96. The company has a market capitalization of $41.22 billion, a P/E ratio of 30.11, a price-to-earnings-growth ratio of 2.73 and a beta of 1.10. 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, Inc. has a 52 week low of $145.02 and a 52 week high of $198.33.

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

AMETEK Announces Dividend

The company 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. This represents a $1.24 dividend on an annualized basis and a dividend yield of 0.69%. The ex-dividend date of this dividend is Friday, June 13th. AMETEK’s dividend payout ratio (DPR) is 20.29%.

Insider Buying and Selling

In related news, 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 transaction of $125,414.40. Following the sale, the director now owns 10,560 shares of the company’s stock, valued at approximately $1,865,318.40. This trade represents a 6.30% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 0.57% of the stock is currently owned by insiders.

Analyst Ratings Changes

AME has been the topic of several research analyst reports. Truist Financial increased their price target on AMETEK from $196.00 to $200.00 and gave the company a “buy” rating in a report on Monday, May 5th. Wall Street Zen raised AMETEK from a “hold” rating to a “buy” rating in a report on Monday, May 12th. Mizuho set a $212.00 price target on AMETEK in a research note on Friday, May 16th. Morgan Stanley started coverage on shares of AMETEK in a research report on Monday, April 14th. They set an “equal weight” rating and a $170.00 price target for the company. Finally, Royal Bank of Canada raised their price objective on shares of AMETEK from $194.00 to $201.00 and gave the stock an “outperform” rating in a report on Friday, May 2nd. One research analyst has rated the stock with a sell rating, three have assigned a hold rating, seven have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, AMETEK has a consensus rating of “Moderate Buy” and an average price target of $197.89.

AMETEK 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.