International Assets Investment Management LLC Acquires Shares of 33,312 AMETEK, Inc. (NYSE:AME)

International Assets Investment Management LLC bought a new position in shares of AMETEK, Inc. (NYSE:AME) in the 3rd quarter, HoldingsChannel.com reports. The institutional investor bought 33,312 shares of the technology company’s stock, valued at approximately $57,200,000.

Several other institutional investors and hedge funds have also made changes to their positions in AME. Buffington Mohr McNeal grew its stake in AMETEK by 0.3% in the first quarter. Buffington Mohr McNeal now owns 63,076 shares of the technology company’s stock worth $11,537,000 after purchasing an additional 204 shares in the last quarter. Dixon Mitchell Investment Counsel Inc. purchased a new position in shares of AMETEK during the first quarter valued at $46,343,000. Wasatch Advisors LP raised its holdings in shares of AMETEK by 1.9% in the first quarter. Wasatch Advisors LP now owns 6,244 shares of the technology company’s stock valued at $1,142,000 after acquiring an additional 117 shares in the last quarter. Dudley & Shanley Inc. lifted its stake in AMETEK by 0.9% in the first quarter. Dudley & Shanley Inc. now owns 128,764 shares of the technology company’s stock worth $23,551,000 after acquiring an additional 1,145 shares during the period. Finally, Norden Group LLC bought a new position in AMETEK during the 1st quarter worth about $2,508,000. 87.43% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on AME shares. Robert W. Baird lowered their price target on shares of AMETEK from $171.00 to $166.00 and set a “neutral” rating for the company in a research report on Wednesday, August 7th. Mizuho increased their target price on AMETEK from $180.00 to $190.00 and gave the company an “outperform” rating in a research report on Thursday, October 17th. Redburn Atlantic raised AMETEK to a “strong-buy” rating in a research report on Friday, August 2nd. StockNews.com lowered AMETEK from a “buy” rating to a “hold” rating in a research note on Tuesday, August 6th. Finally, Truist Financial increased their price target on shares of AMETEK from $201.00 to $219.00 and gave the company a “buy” rating in a research report on Wednesday, October 9th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating, five have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, AMETEK presently has a consensus rating of “Moderate Buy” and a consensus target price of $193.29.

AMETEK Stock Performance

Shares of AMETEK stock opened at $166.96 on Monday. The firm has a market capitalization of $38.65 billion, a P/E ratio of 29.34, a PEG ratio of 2.77 and a beta of 1.17. AMETEK, Inc. has a 52 week low of $136.89 and a 52 week high of $186.32. The company has a quick ratio of 0.76, a current ratio of 1.26 and a debt-to-equity ratio of 0.20. The company has a 50 day moving average price of $168.41 and a 200 day moving average price of $169.07.

AMETEK (NYSE:AME) last announced its quarterly earnings data on Thursday, August 1st. The technology company reported $1.66 earnings per share for the quarter, beating analysts’ consensus estimates of $1.64 by $0.02. The firm had revenue of $1.73 billion for the quarter, compared to analyst estimates of $1.78 billion. AMETEK had a net margin of 19.51% and a return on equity of 17.41%. The business’s quarterly revenue was up 5.4% compared to the same quarter last year. During the same period in the previous year, the company earned $1.57 earnings per share. Sell-side analysts expect that AMETEK, Inc. will post 6.76 EPS for the current year.

AMETEK Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, September 30th. Investors of record on Monday, September 16th were given a $0.28 dividend. The ex-dividend date was Monday, September 16th. This represents a $1.12 dividend on an annualized basis and a yield of 0.67%. AMETEK’s dividend payout ratio is currently 19.68%.

Insider Buying and Selling

In other news, Director Steven W. Kohlhagen sold 1,460 shares of the company’s stock in a transaction on Wednesday, September 25th. The shares were sold at an average price of $171.59, for a total value of $250,521.40. Following the sale, the director now directly owns 23,349 shares of the company’s stock, valued at $4,006,454.91. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.61% of the stock is owned by corporate insiders.

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.