Summit Trail Advisors LLC Sells 166 Shares of AMETEK, Inc. (NYSE:AME)

Summit Trail Advisors LLC decreased its position in shares of AMETEK, Inc. (NYSE:AME) by 2.4% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 6,748 shares of the technology company’s stock after selling 166 shares during the period. Summit Trail Advisors LLC’s holdings in AMETEK were worth $1,113,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the business. Metis Global Partners LLC lifted its position in AMETEK by 0.5% during the fourth quarter. Metis Global Partners LLC now owns 15,934 shares of the technology company’s stock valued at $2,627,000 after purchasing an additional 82 shares during the period. Provence Wealth Management Group grew its position in shares of AMETEK by 5.5% during the 4th quarter. Provence Wealth Management Group now owns 1,435 shares of the technology company’s stock valued at $237,000 after acquiring an additional 75 shares during the period. M&T Bank Corp increased its stake in shares of AMETEK by 0.5% in the 4th quarter. M&T Bank Corp now owns 15,442 shares of the technology company’s stock valued at $2,547,000 after purchasing an additional 73 shares in the last quarter. Benjamin F. Edwards & Company Inc. lifted its position in shares of AMETEK by 577.8% during the 4th quarter. Benjamin F. Edwards & Company Inc. now owns 976 shares of the technology company’s stock valued at $161,000 after buying an additional 832 shares in the last quarter. Finally, Running Oak Capital LLC raised its position in shares of AMETEK by 15.4% during the 4th quarter. Running Oak Capital LLC now owns 58,346 shares of the technology company’s stock worth $9,621,000 after purchasing an additional 7,777 shares during the last quarter. Hedge funds and other institutional investors own 87.43% of the company’s stock.

Insider Buying and Selling

In related news, Director Thomas A. Amato sold 780 shares of AMETEK stock in a transaction that occurred on Tuesday, March 26th. The shares were sold at an average price of $182.00, for a total value of $141,960.00. Following the completion of the transaction, the director now owns 10,240 shares in the company, valued at $1,863,680. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other AMETEK news, Director Thomas A. Amato sold 780 shares of the stock in a transaction that occurred on Tuesday, March 26th. The shares were sold at an average price of $182.00, for a total value of $141,960.00. Following the sale, the director now directly owns 10,240 shares of the company’s stock, valued at approximately $1,863,680. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CFO William Joseph Burke sold 27,400 shares of AMETEK stock in a transaction on Thursday, March 21st. The stock was sold at an average price of $185.05, for a total transaction of $5,070,370.00. Following the sale, the chief financial officer now directly owns 106,512 shares of the company’s stock, valued at $19,710,045.60. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 59,881 shares of company stock worth $10,689,758. Company insiders own 0.61% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on the stock. StockNews.com lowered shares of AMETEK from a “buy” rating to a “hold” rating in a report on Saturday, March 2nd. Truist Financial assumed coverage on shares of AMETEK in a research report on Thursday, March 14th. They set a “buy” rating and a $210.00 price target on the stock. Royal Bank of Canada lowered their price objective on AMETEK from $192.00 to $188.00 and set an “outperform” rating for the company in a research report on Wednesday, February 7th. KeyCorp lifted their target price on AMETEK from $182.00 to $205.00 and gave the company an “overweight” rating in a research report on Tuesday, February 27th. Finally, Robert W. Baird lowered their price target on AMETEK from $173.00 to $171.00 and set a “neutral” rating for the company in a report on Monday. Four investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat.com, AMETEK currently has an average rating of “Moderate Buy” and an average target price of $179.80.

AMETEK Stock Up 0.9 %

Shares of AME stock traded up $1.49 during trading on Monday, reaching $168.05. The company’s stock had a trading volume of 1,448,527 shares, compared to its average volume of 977,973. The company has a market capitalization of $38.90 billion, a price-to-earnings ratio of 29.27, a P/E/G ratio of 2.66 and a beta of 1.21. AMETEK, Inc. has a 1-year low of $136.89 and a 1-year high of $186.32. The company has a debt-to-equity ratio of 0.21, a current ratio of 1.11 and a quick ratio of 0.66. The stock’s 50-day moving average price is $179.64 and its 200 day moving average price is $166.32.

AMETEK (NYSE:AME) last posted its quarterly earnings data on Thursday, May 2nd. The technology company reported $1.64 earnings per share for the quarter, topping analysts’ consensus estimates of $1.59 by $0.05. The business had revenue of $1.74 billion for the quarter, compared to analyst estimates of $1.78 billion. AMETEK had a return on equity of 17.74% and a net margin of 19.57%. The company’s revenue was up 9.0% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.49 earnings per share. On average, research analysts anticipate that AMETEK, Inc. will post 6.81 EPS for the current year.

AMETEK Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, March 28th. Stockholders of record on Friday, March 8th were given a dividend of $0.28 per share. The ex-dividend date of this dividend was Thursday, March 7th. This is an increase from AMETEK’s previous quarterly dividend of $0.25. This represents a $1.12 dividend on an annualized basis and a dividend yield of 0.67%. AMETEK’s payout ratio is currently 19.68%.

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.