Glenmede Trust Co. NA Has $67.99 Million Holdings in AMETEK, Inc. (NYSE:AME)

Glenmede Trust Co. NA raised its position in AMETEK, Inc. (NYSE:AME) by 0.1% during the third quarter, according to its most recent filing with the SEC. The firm owned 395,970 shares of the technology company’s stock after purchasing an additional 337 shares during the period. Glenmede Trust Co. NA owned 0.17% of AMETEK worth $67,992,000 as of its most recent filing with the SEC.

A number of other institutional investors also recently modified their holdings of AME. B. Riley Wealth Advisors Inc. boosted its position in shares of AMETEK by 42.6% during the 1st quarter. B. Riley Wealth Advisors Inc. now owns 1,919 shares of the technology company’s stock valued at $351,000 after purchasing an additional 573 shares in the last quarter. Tidal Investments LLC boosted its holdings in shares of AMETEK by 15.1% during the 1st quarter. Tidal Investments LLC now owns 4,930 shares of the technology company’s stock worth $902,000 after buying an additional 646 shares in the last quarter. Comerica Bank increased its stake in shares of AMETEK by 0.4% in the 1st quarter. Comerica Bank now owns 74,825 shares of the technology company’s stock valued at $13,685,000 after acquiring an additional 314 shares in the last quarter. Plato Investment Management Ltd increased its stake in shares of AMETEK by 29,554.5% in the 1st quarter. Plato Investment Management Ltd now owns 9,786 shares of the technology company’s stock valued at $1,790,000 after acquiring an additional 9,753 shares in the last quarter. Finally, EdgePoint Investment Group Inc. lifted its position in shares of AMETEK by 1.1% during the 1st quarter. EdgePoint Investment Group Inc. now owns 945,183 shares of the technology company’s stock valued at $172,874,000 after acquiring an additional 10,428 shares during the period. 87.43% of the stock is owned by institutional investors.

AMETEK Price Performance

Shares of NYSE:AME opened at $197.13 on Wednesday. The company has a current ratio of 1.39, a quick ratio of 0.84 and a debt-to-equity ratio of 0.18. The stock has a market cap of $45.60 billion, a PE ratio of 34.34, a price-to-earnings-growth ratio of 3.22 and a beta of 1.16. The stock’s fifty day simple moving average is $177.61 and its two-hundred day simple moving average is $171.09. AMETEK, Inc. has a 1-year low of $149.03 and a 1-year high of $198.33.

AMETEK (NYSE:AME) last released its quarterly earnings results on Thursday, October 31st. The technology company reported $1.66 earnings per share for the quarter, beating analysts’ consensus estimates of $1.62 by $0.04. AMETEK had a net margin of 19.27% and a return on equity of 16.88%. The company had revenue of $1.71 billion for the quarter, compared to analyst estimates of $1.71 billion. During the same period last year, the firm earned $1.64 earnings per share. The firm’s revenue was up 5.3% on a year-over-year basis. As a group, analysts forecast that AMETEK, Inc. will post 6.8 EPS for the current fiscal year.

AMETEK Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, December 20th. Stockholders of record on Friday, December 6th will be issued a $0.28 dividend. This represents a $1.12 annualized dividend and a dividend yield of 0.57%. The ex-dividend date is Friday, December 6th. AMETEK’s dividend payout ratio is presently 19.51%.

Insider Activity at AMETEK

In related news, insider David F. Hermance sold 6,243 shares of the stock in a transaction dated Friday, November 8th. The shares were sold at an average price of $190.99, for a total transaction of $1,192,350.57. Following the completion of the transaction, the insider now owns 36,731 shares in the company, valued at approximately $7,015,253.69. This represents a 14.53 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Tony J. Ciampitti sold 16,210 shares of AMETEK stock in a transaction dated Friday, November 22nd. The stock was sold at an average price of $197.01, for a total transaction of $3,193,532.10. Following the completion of the sale, the insider now directly owns 49,490 shares in the company, valued at approximately $9,750,024.90. This represents a 24.67 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 23,913 shares of company stock valued at $4,636,404. 0.61% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on the stock. KeyCorp lifted their price target on shares of AMETEK from $205.00 to $215.00 and gave the company an “overweight” rating in a research note on Friday, November 22nd. Mizuho upped their price target on AMETEK from $190.00 to $200.00 and gave the stock an “outperform” rating in a research note on Friday, November 1st. Truist Financial raised their price objective on AMETEK from $219.00 to $221.00 and gave the company a “buy” rating in a research note on Friday, November 1st. Redburn Atlantic raised AMETEK to a “strong-buy” rating in a research report on Friday, August 2nd. Finally, TD Cowen downgraded shares of AMETEK from a “hold” rating to a “sell” rating in a research report on Monday, October 7th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $199.29.

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.