Advisors Asset Management Inc. raised its stake in AMETEK, Inc. (NYSE:AME – Free Report) by 276.9% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 1,990 shares of the technology company’s stock after acquiring an additional 1,462 shares during the period. Advisors Asset Management Inc.’s holdings in AMETEK were worth $342,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds have also recently modified their holdings of AME. EverSource Wealth Advisors LLC raised its holdings in AMETEK by 7.3% in the 1st quarter. EverSource Wealth Advisors LLC now owns 899 shares of the technology company’s stock worth $157,000 after acquiring an additional 61 shares during the last quarter. MorganRosel Wealth Management LLC raised its stake in shares of AMETEK by 1.6% in the second quarter. MorganRosel Wealth Management LLC now owns 3,886 shares of the technology company’s stock worth $648,000 after purchasing an additional 61 shares during the last quarter. Commerzbank Aktiengesellschaft FI lifted its holdings in shares of AMETEK by 4.8% during the second quarter. Commerzbank Aktiengesellschaft FI now owns 1,340 shares of the technology company’s stock valued at $224,000 after purchasing an additional 61 shares in the last quarter. First Horizon Advisors Inc. boosted its position in shares of AMETEK by 2.4% during the second quarter. First Horizon Advisors Inc. now owns 2,639 shares of the technology company’s stock valued at $440,000 after buying an additional 62 shares during the last quarter. Finally, Checchi Capital Advisers LLC increased its holdings in AMETEK by 2.9% in the 2nd quarter. Checchi Capital Advisers LLC now owns 2,225 shares of the technology company’s stock worth $371,000 after buying an additional 63 shares in the last quarter. 87.43% of the stock is currently owned by institutional investors.
Wall Street Analysts Forecast Growth
AME has been the topic of several research analyst reports. Truist Financial upped their target price on shares of AMETEK from $219.00 to $221.00 and gave the company a “buy” rating in a research note on Friday, November 1st. Redburn Atlantic upgraded shares of AMETEK to a “strong-buy” rating in a report on Friday, August 2nd. Royal Bank of Canada decreased their target price on shares of AMETEK from $216.00 to $215.00 and set an “outperform” rating for the company in a research note on Friday, August 2nd. StockNews.com downgraded AMETEK from a “buy” rating to a “hold” rating in a research note on Friday, November 15th. Finally, Wolfe Research upgraded AMETEK to a “hold” rating in a research report on Wednesday, September 18th. One analyst has rated the stock with a sell rating, three have assigned a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $199.29.
Insiders Place Their Bets
In other AMETEK news, insider Emanuela Speranza sold 6,747 shares of the stock in a transaction on Tuesday, November 26th. The shares were sold at an average price of $195.90, for a total transaction of $1,321,737.30. Following the completion of the transaction, the insider now owns 30,460 shares in the company, valued at $5,967,114. This trade represents a 18.13 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Tony J. Ciampitti sold 16,210 shares of the business’s 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 owns 49,490 shares in the company, valued at approximately $9,750,024.90. This trade represents a 24.67 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 30,660 shares of company stock valued at $5,958,141 in the last quarter. 0.61% of the stock is currently owned by insiders.
AMETEK Trading Down 1.0 %
AMETEK stock opened at $195.10 on Friday. The company has a debt-to-equity ratio of 0.18, a current ratio of 1.39 and a quick ratio of 0.84. The firm’s 50 day moving average price is $178.58 and its 200-day moving average price is $171.43. AMETEK, Inc. has a 1 year low of $149.03 and a 1 year high of $198.33. The stock has a market cap of $45.13 billion, a P/E ratio of 33.99, a PEG ratio of 3.22 and a beta of 1.16.
AMETEK (NYSE:AME – Get Free Report) last announced its quarterly earnings results on Thursday, October 31st. The technology company reported $1.66 EPS for the quarter, topping the consensus estimate of $1.62 by $0.04. The business had revenue of $1.71 billion for the quarter, compared to analysts’ expectations of $1.71 billion. AMETEK had a net margin of 19.27% and a return on equity of 16.88%. The business’s quarterly revenue was up 5.3% compared to the same quarter last year. During the same quarter in the previous year, the company earned $1.64 EPS. On average, equities analysts predict that AMETEK, Inc. will post 6.8 earnings per share for the current fiscal year.
AMETEK Dividend Announcement
The company also recently declared a quarterly dividend, which will be paid on Friday, December 20th. Shareholders of record on Friday, December 6th will be issued a dividend of $0.28 per share. This represents a $1.12 annualized dividend and a yield of 0.57%. The ex-dividend date of this dividend is Friday, December 6th. AMETEK’s dividend payout ratio is presently 19.51%.
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.
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