AMETEK, Inc. (NYSE:AME) Shares Sold by First Hawaiian Bank

Posted by Defense World Staff on Mar 23rd, 2023

First Hawaiian Bank lessened its holdings in shares of AMETEK, Inc. (NYSE:AME – Get Rating) by 9.6% during the 4th quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 7,420 shares of the technology company’s stock after selling 785 shares during the period. First Hawaiian Bank’s holdings in AMETEK were worth $1,036,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in the company. Ten Capital Wealth Advisors LLC raised its holdings in shares of AMETEK by 78.1% in the third quarter. Ten Capital Wealth Advisors LLC now owns 228 shares of the technology company’s stock worth $26,000 after acquiring an additional 100 shares during the last quarter. Quent Capital LLC boosted its position in shares of AMETEK by 64.0% in the third quarter. Quent Capital LLC now owns 228 shares of the technology company’s stock worth $26,000 after buying an additional 89 shares during the period. Covestor Ltd lifted its stake in shares of AMETEK by 84.3% in the first quarter. Covestor Ltd now owns 212 shares of the technology company’s stock worth $28,000 after acquiring an additional 97 shares in the last quarter. Zions Bancorporation N.A. lifted its stake in shares of AMETEK by 726.5% in the first quarter. Zions Bancorporation N.A. now owns 281 shares of the technology company’s stock worth $37,000 after acquiring an additional 247 shares in the last quarter. Finally, Parkside Financial Bank & Trust raised its stake in AMETEK by 31.4% during the first quarter. Parkside Financial Bank & Trust now owns 439 shares of the technology company’s stock valued at $59,000 after buying an additional 105 shares in the last quarter. Hedge funds and other institutional investors own 85.42% of the company’s stock.

Insider Activity at AMETEK

In other AMETEK news, insider Ronald J. Oscher sold 6,500 shares of the business’s stock in a transaction dated Wednesday, February 15th. The shares were sold at an average price of $145.28, for a total transaction of $944,320.00. Following the sale, the insider now directly owns 28,563 shares of the company’s stock, valued at approximately $4,149,632.64. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In other news, Director Thomas A. Amato sold 780 shares of the company’s stock in a transaction dated Tuesday, March 14th. The shares were sold at an average price of $137.54, for a total value of $107,281.20. Following the sale, the director now directly owns 8,780 shares of the company’s stock, valued at approximately $1,207,601.20. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, insider Ronald J. Oscher sold 6,500 shares of the company’s stock in a transaction dated Wednesday, February 15th. The shares were sold at an average price of $145.28, for a total transaction of $944,320.00. Following the completion of the sale, the insider now directly owns 28,563 shares in the company, valued at $4,149,632.64. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 20,880 shares of company stock valued at $2,987,780. 0.72% of the stock is owned by corporate insiders.

Analyst Ratings Changes

Several analysts have issued reports on AME shares. Loop Capital upped their price objective on AMETEK from $160.00 to $164.00 in a research note on Thursday, January 12th. Mizuho increased their price objective on AMETEK from $145.00 to $153.00 and gave the stock a “buy” rating in a report on Friday, January 13th. Wolfe Research lowered AMETEK from an “outperform” rating to a “peer perform” rating in a report on Thursday, February 23rd. Morgan Stanley increased their target price on shares of AMETEK from $152.00 to $155.00 and gave the stock an “overweight” rating in a research report on Friday, February 3rd. Finally, StockNews.com assumed coverage on shares of AMETEK in a research report on Thursday, March 16th. They set a “buy” rating on the stock. Three investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $151.11.

AMETEK Price Performance

Shares of AME stock opened at $138.46 on Thursday. AMETEK, Inc. has a 12-month low of $106.17 and a 12-month high of $148.06. The firm has a market capitalization of $31.88 billion, a price-to-earnings ratio of 27.64, a price-to-earnings-growth ratio of 2.56 and a beta of 1.22. The company has a quick ratio of 0.95, a current ratio of 1.62 and a debt-to-equity ratio of 0.29. The firm has a fifty day moving average of $142.45 and a 200-day moving average of $134.71.

AMETEK (NYSE:AME – Get Rating) last announced its quarterly earnings results on Thursday, February 2nd. The technology company reported $1.52 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.47 by $0.05. AMETEK had a net margin of 18.85% and a return on equity of 18.46%. The company had revenue of $1.63 billion during the quarter, compared to analyst estimates of $1.59 billion. During the same quarter in the previous year, the business earned $1.37 EPS. The firm’s revenue was up 8.7% on a year-over-year basis. On average, equities research analysts forecast that AMETEK, Inc. will post 5.98 earnings per share for the current year.

AMETEK Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, March 31st. Investors of record on Friday, March 10th will be given a $0.25 dividend. This is a boost from AMETEK’s previous quarterly dividend of $0.22. This represents a $1.00 annualized dividend and a yield of 0.72%. The ex-dividend date is Thursday, March 9th. AMETEK’s payout ratio is currently 19.96%.

AMETEK Profile

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AMETEK, Inc engages in the manufacture of electronic instruments and electromechanical devices. It operates through the following two segments: Electronic Instruments (EIG) and Electromechanical (EMG). The EIG segment designs and manufactures advanced instruments for the process, aerospace, power and industrial markets.