AE Wealth Management LLC Purchases New Stake in AMETEK, Inc. (NYSE:AME)

AE Wealth Management LLC acquired a new position in shares of AMETEK, Inc. (NYSE:AME) during the second quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 1,203 shares of the technology company’s stock, valued at approximately $201,000.

Other hedge funds have also recently bought and sold shares of the company. EverSource Wealth Advisors LLC boosted its position in shares of AMETEK by 7.3% during 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 in the last quarter. MorganRosel Wealth Management LLC increased its stake in shares of AMETEK by 1.6% in the 2nd quarter. MorganRosel Wealth Management LLC now owns 3,886 shares of the technology company’s stock valued at $648,000 after purchasing an additional 61 shares during the last quarter. Commerzbank Aktiengesellschaft FI raised its holdings in shares of AMETEK by 4.8% during the 2nd quarter. Commerzbank Aktiengesellschaft FI now owns 1,340 shares of the technology company’s stock worth $224,000 after buying an additional 61 shares in the last quarter. First Horizon Advisors Inc. lifted its position in shares of AMETEK by 2.4% during the 2nd quarter. First Horizon Advisors Inc. now owns 2,639 shares of the technology company’s stock worth $440,000 after buying an additional 62 shares during the last quarter. Finally, Checchi Capital Advisers LLC boosted its stake in AMETEK by 2.9% in the second quarter. Checchi Capital Advisers LLC now owns 2,225 shares of the technology company’s stock valued at $371,000 after buying an additional 63 shares in the last quarter. 87.43% of the stock is owned by institutional investors.

Insiders Place Their Bets

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 approximately $4,006,454.91. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Company insiders own 0.61% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have commented on the company. Redburn Atlantic raised AMETEK to a “strong-buy” rating in a research note on Friday, August 2nd. Truist Financial dropped their price objective on shares of AMETEK from $204.00 to $201.00 and set a “buy” rating for the company in a research note on Friday, August 2nd. Robert W. Baird cut their target price on shares of AMETEK from $171.00 to $166.00 and set a “neutral” rating on the stock in a research report on Wednesday, August 7th. Wolfe Research upgraded shares of AMETEK to a “hold” rating in a report on Wednesday, September 18th. Finally, TD Cowen cut their price objective on AMETEK from $165.00 to $158.00 and set a “hold” rating on the stock in a report on Monday, August 5th. Five investment analysts have rated the stock with a hold rating, four have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $186.29.

AMETEK Price Performance

AME stock opened at $172.07 on Friday. The company has a debt-to-equity ratio of 0.20, a quick ratio of 0.76 and a current ratio of 1.26. AMETEK, Inc. has a 52-week low of $136.89 and a 52-week high of $186.32. The company has a market capitalization of $39.83 billion, a P/E ratio of 30.24, a PEG ratio of 2.81 and a beta of 1.17. The company has a fifty day moving average price of $166.43 and a 200-day moving average price of $171.06.

AMETEK (NYSE:AME) last announced its earnings results on Thursday, August 1st. The technology company reported $1.66 EPS for the quarter, topping the consensus estimate of $1.64 by $0.02. The firm had revenue of $1.73 billion for the quarter, compared to the consensus estimate of $1.78 billion. AMETEK had a return on equity of 17.41% and a net margin of 19.51%. 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 business earned $1.57 EPS. As a group, equities analysts expect that AMETEK, Inc. will post 6.77 EPS for the current year.

AMETEK Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, September 30th. Shareholders of record on Monday, September 16th will be given a dividend of $0.28 per share. This represents a $1.12 dividend on an annualized basis and a yield of 0.65%. The ex-dividend date is Monday, September 16th. AMETEK’s dividend payout ratio is presently 19.68%.

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.