Absher Wealth Management LLC Acquires 1,047 Shares of AMETEK, Inc. (NYSE:AME)

Absher Wealth Management LLC boosted its holdings in AMETEK, Inc. (NYSE:AME) by 14.7% during the 4th quarter, Holdings Channel reports. The firm owned 8,185 shares of the technology company’s stock after acquiring an additional 1,047 shares during the period. Absher Wealth Management LLC’s holdings in AMETEK were worth $1,475,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also recently bought and sold shares of the business. State Street Corp grew its position in AMETEK by 0.3% during the third quarter. State Street Corp now owns 9,220,376 shares of the technology company’s stock valued at $1,583,231,000 after buying an additional 24,072 shares during the period. JPMorgan Chase & Co. increased its holdings in AMETEK by 3.7% during the 3rd quarter. JPMorgan Chase & Co. now owns 6,985,350 shares of the technology company’s stock worth $1,199,454,000 after acquiring an additional 250,538 shares during the period. Geode Capital Management LLC increased its stake in AMETEK by 0.8% in the third quarter. Geode Capital Management LLC now owns 5,401,656 shares of the technology company’s stock valued at $924,308,000 after acquiring an additional 45,459 shares during the last quarter. EdgePoint Investment Group Inc. boosted its stake in shares of AMETEK by 87.9% in the 3rd quarter. EdgePoint Investment Group Inc. now owns 1,964,236 shares of the technology company’s stock valued at $337,279,000 after purchasing an additional 918,737 shares in the last quarter. Finally, Principal Financial Group Inc. increased its stake in AMETEK by 72.0% in the 3rd quarter. Principal Financial Group Inc. now owns 1,680,309 shares of the technology company’s stock worth $288,526,000 after purchasing an additional 703,501 shares during the period. Institutional investors own 87.43% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on AME shares. Truist Financial lifted their price objective on AMETEK from $221.00 to $222.00 and gave the company a “buy” rating in a research report on Thursday, January 16th. Mizuho increased their target price on AMETEK from $190.00 to $200.00 and gave the company an “outperform” rating in a research note on Friday, November 1st. BNP Paribas raised shares of AMETEK from a “neutral” rating to an “outperform” rating and set a $210.00 target price for the company in a report on Thursday, January 16th. KeyCorp upped their target price on shares of AMETEK from $205.00 to $215.00 and gave the stock an “overweight” rating in a report on Friday, November 22nd. Finally, StockNews.com cut shares of AMETEK from a “buy” rating to a “hold” rating in a research note on Wednesday. One equities research analyst has rated the stock with a sell rating, three have given a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $204.67.

AMETEK Stock Down 0.3 %

Shares of AMETEK stock opened at $180.05 on Thursday. AMETEK, Inc. has a fifty-two week low of $149.03 and a fifty-two week high of $198.33. The firm has a market cap of $41.65 billion, a P/E ratio of 31.37, a P/E/G ratio of 2.67 and a beta of 1.16. The business has a 50-day moving average price of $184.84 and a 200 day moving average price of $176.58. The company has a quick ratio of 0.84, a current ratio of 1.39 and a debt-to-equity ratio of 0.18.

AMETEK (NYSE:AME) last released its quarterly earnings results on Tuesday, February 4th. The technology company reported $1.87 earnings per share for the quarter, beating analysts’ consensus estimates of $1.85 by $0.02. The business had revenue of $1.76 billion for the quarter, compared to the consensus estimate of $1.82 billion. AMETEK had a net margin of 19.27% and a return on equity of 16.88%. AMETEK’s revenue for the quarter was up 1.8% on a year-over-year basis. During the same quarter last year, the firm earned $1.68 EPS. On average, sell-side analysts forecast that AMETEK, Inc. will post 6.8 earnings per share for the current fiscal year.

AMETEK Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, December 20th. Shareholders of record on Friday, December 6th were given a dividend of $0.28 per share. This represents a $1.12 annualized dividend and a dividend yield of 0.62%. The ex-dividend date of this dividend was Friday, December 6th. AMETEK’s payout ratio is 19.51%.

Insider Activity

In related news, insider Emanuela Speranza sold 6,747 shares of the business’s stock in a transaction on Tuesday, November 26th. The shares were sold at an average price of $195.90, for a total value of $1,321,737.30. Following the sale, the insider now owns 30,460 shares of the company’s stock, valued at $5,967,114. The trade was a 18.13 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider David F. Hermance sold 6,243 shares of the business’s stock in a transaction dated Friday, November 8th. The shares were sold at an average price of $190.99, for a total value of $1,192,350.57. Following the completion of the transaction, the insider now directly owns 36,731 shares in the company, valued at $7,015,253.69. This represents a 14.53 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 29,200 shares of company stock valued at $5,707,620 in the last ninety days. 0.61% of the stock is owned by insiders.

AMETEK Company 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.