AMETEK, Inc. $AME Shares Sold by Tyche Wealth Partners LLC

Tyche Wealth Partners LLC reduced its stake in shares of AMETEK, Inc. (NYSE:AME) by 42.0% in the 3rd quarter, Holdings Channel.com reports. The fund owned 21,940 shares of the technology company’s stock after selling 15,875 shares during the quarter. AMETEK makes up about 0.7% of Tyche Wealth Partners LLC’s holdings, making the stock its 28th largest position. Tyche Wealth Partners LLC’s holdings in AMETEK were worth $4,125,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of the stock. Darwin Wealth Management LLC acquired a new position in AMETEK in the second quarter worth about $25,000. NewSquare Capital LLC grew its position in shares of AMETEK by 129.7% in the 2nd quarter. NewSquare Capital LLC now owns 170 shares of the technology company’s stock worth $31,000 after acquiring an additional 96 shares in the last quarter. TruNorth Capital Management LLC bought a new stake in shares of AMETEK in the 3rd quarter valued at approximately $31,000. SouthState Corp raised its position in shares of AMETEK by 47.4% during the 2nd quarter. SouthState Corp now owns 202 shares of the technology company’s stock valued at $37,000 after acquiring an additional 65 shares in the last quarter. Finally, AdvisorShares Investments LLC bought a new position in AMETEK during the second quarter worth $39,000. Institutional investors and hedge funds own 87.43% of the company’s stock.

AMETEK Stock Down 1.1%

Shares of AMETEK stock opened at $224.04 on Friday. The company has a market capitalization of $51.57 billion, a P/E ratio of 35.34, a PEG ratio of 3.09 and a beta of 1.04. The company has a debt-to-equity ratio of 0.14, a current ratio of 1.16 and a quick ratio of 0.72. AMETEK, Inc. has a 1-year low of $145.02 and a 1-year high of $227.79. The business’s fifty day moving average price is $207.72 and its two-hundred day moving average price is $193.89.

AMETEK (NYSE:AME) last posted its quarterly earnings data on Thursday, October 30th. The technology company reported $1.89 earnings per share for the quarter, topping the consensus estimate of $1.76 by $0.13. The business had revenue of $1.89 billion during the quarter, compared to the consensus estimate of $1.81 billion. AMETEK had a net margin of 20.50% and a return on equity of 16.66%. The company’s quarterly revenue was up 10.8% compared to the same quarter last year. During the same quarter in the prior year, the company posted $1.66 earnings per share. As a group, research analysts forecast that AMETEK, Inc. will post 7.15 EPS for the current year.

AMETEK Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, December 19th. Stockholders of record on Friday, December 5th were paid a $0.31 dividend. The ex-dividend date of this dividend was Friday, December 5th. This represents a $1.24 annualized dividend and a dividend yield of 0.6%. AMETEK’s payout ratio is currently 19.56%.

Wall Street Analysts Forecast Growth

AME has been the topic of a number of research reports. Royal Bank Of Canada increased their target price on shares of AMETEK from $212.00 to $229.00 and gave the stock an “outperform” rating in a report on Friday, October 31st. KeyCorp boosted their price objective on shares of AMETEK from $220.00 to $235.00 and gave the company an “overweight” rating in a research report on Tuesday, January 6th. Truist Financial raised their target price on shares of AMETEK from $219.00 to $229.00 and gave the stock a “buy” rating in a report on Wednesday, October 8th. Morgan Stanley upped their target price on AMETEK from $198.00 to $215.00 and gave the company an “equal weight” rating in a report on Monday, January 12th. Finally, Deutsche Bank Aktiengesellschaft assumed coverage on AMETEK in a report on Wednesday, January 21st. They issued a “buy” rating and a $271.00 price target on the stock. One investment analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and four have given a Hold rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $229.82.

Insiders Place Their Bets

In other news, insider Thomas C. Marecic sold 14,310 shares of the firm’s stock in a transaction on Monday, December 15th. The stock was sold at an average price of $202.11, for a total transaction of $2,892,194.10. Following the completion of the sale, the insider directly owned 42,589 shares of the company’s stock, valued at $8,607,662.79. This trade represents a 25.15% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO David A. Zapico sold 88,000 shares of the company’s stock in a transaction on Tuesday, November 25th. The shares were sold at an average price of $196.39, for a total value of $17,282,320.00. Following the sale, the chief executive officer directly owned 348,955 shares of the company’s stock, valued at approximately $68,531,272.45. This represents a 20.14% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders have sold 137,088 shares of company stock worth $27,212,340. 0.57% of the stock is owned by insiders.

AMETEK Company Profile

AMETEK, Inc is a global manufacturer of electronic instruments and electromechanical devices that serves a broad range of industries. Headquartered in Berwyn, Pennsylvania, the company designs and produces precision instruments, electronic measurement devices, specialty sensors, and electric motors and motion control systems. Its product portfolio includes analytical and monitoring instruments, calibration equipment, power supplies, embedded electronics, and industrial motors and drives used for critical applications.

The company operates through two primary business platforms — an electronic instruments group focused on analytical, test and measurement and sensor products, and an electromechanical group that supplies motors, actuators, and related power and motion solutions.