AMETEK, Inc. (NYSE:AME) Shares Purchased by abrdn plc

abrdn plc increased its holdings in shares of AMETEK, Inc. (NYSE:AME – Get Rating) by 7.6% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 59,398 shares of the technology company’s stock after purchasing an additional 4,174 shares during the quarter. abrdn plc’s holdings in AMETEK were worth $8,299,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. CCLA Investment Management acquired a new position in AMETEK in the 3rd quarter valued at about $69,179,000. Goldman Sachs Group Inc. grew its position in AMETEK by 45.6% in the 1st quarter. Goldman Sachs Group Inc. now owns 1,549,101 shares of the technology company’s stock valued at $206,310,000 after acquiring an additional 485,407 shares in the last quarter. Vanguard Group Inc. grew its position in AMETEK by 1.9% in the 1st quarter. Vanguard Group Inc. now owns 24,608,566 shares of the technology company’s stock valued at $3,277,369,000 after acquiring an additional 463,926 shares in the last quarter. Ceredex Value Advisors LLC acquired a new position in AMETEK in the 3rd quarter valued at about $45,931,000. Finally, Wellington Management Group LLP grew its position in AMETEK by 22.2% in the 1st quarter. Wellington Management Group LLP now owns 2,054,304 shares of the technology company’s stock valued at $273,593,000 after acquiring an additional 373,148 shares in the last quarter. 85.42% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities analysts have weighed in on the company. Morgan Stanley lifted their target price on AMETEK from $152.00 to $155.00 and gave the company an “overweight” rating in a research report on Friday, February 3rd. StockNews.com initiated coverage on AMETEK in a research note on Thursday. They issued a “buy” rating for the company. Mizuho lifted their price objective on AMETEK from $153.00 to $161.00 in a research note on Wednesday, May 3rd. Finally, Wolfe Research cut AMETEK from an “outperform” rating to a “peer perform” rating in a research note on Thursday, February 23rd. Two research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $153.50.

AMETEK Price Performance

AME stock opened at $147.57 on Monday. The business has a 50 day moving average price of $140.21 and a 200 day moving average price of $141.07. The stock has a market cap of $34.01 billion, a price-to-earnings ratio of 28.60, a PEG ratio of 2.70 and a beta of 1.22. AMETEK, Inc. has a fifty-two week low of $106.17 and a fifty-two week high of $149.47. The company has a quick ratio of 1.07, a current ratio of 1.84 and a debt-to-equity ratio of 0.28.

AMETEK (NYSE:AME – Get Rating) last posted its earnings results on Tuesday, May 2nd. The technology company reported $1.49 earnings per share for the quarter, topping the consensus estimate of $1.41 by $0.08. The firm had revenue of $1.60 billion during the quarter, compared to analysts’ expectations of $1.54 billion. AMETEK had a return on equity of 18.42% and a net margin of 18.97%. The firm’s revenue was up 9.5% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.33 earnings per share. Equities research analysts anticipate that AMETEK, Inc. will post 6.11 earnings per share for the current fiscal year.

AMETEK Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, June 30th. Investors of record on Monday, June 12th will be paid a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 0.68%. The ex-dividend date of this dividend is Friday, June 9th. AMETEK’s payout ratio is 19.38%.

Insider Buying and Selling

In other AMETEK news, Director Anthony James Conti sold 3,440 shares of the business’s stock in a transaction that occurred on Tuesday, March 21st. The stock was sold at an average price of $139.57, for a total value of $480,120.80. Following the completion of the sale, the director now owns 26,078 shares in the company, valued at $3,639,706.46. The sale was disclosed in a document filed with the SEC, which is available through this link. In other AMETEK news, Director Anthony James Conti sold 3,440 shares of the business’s stock in a transaction that occurred on Tuesday, March 21st. The stock was sold at an average price of $139.57, for a total value of $480,120.80. Following the completion of the sale, the director now owns 26,078 shares in the company, valued at $3,639,706.46. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, Director Thomas A. Amato sold 780 shares of the business’s stock in a transaction that occurred on Tuesday, March 14th. The shares were sold at an average price of $137.54, for a total value of $107,281.20. Following the completion of the sale, the director now owns 8,780 shares of the company’s stock, valued at approximately $1,207,601.20. The disclosure for this sale can be found here. Insiders sold a total of 11,660 shares of company stock worth $1,660,974 over the last 90 days. 0.72% of the stock is owned by insiders.

AMETEK Company 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.