Addison Capital Co Invests $1.56 Million in AMETEK, Inc. $AME

Addison Capital Co bought a new stake in AMETEK, Inc. (NYSE:AME) during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm bought 8,296 shares of the technology company’s stock, valued at approximately $1,560,000.

A number of other institutional investors also recently added to or reduced their stakes in AME. Biltmore Wealth Management LLC raised its holdings in shares of AMETEK by 1.1% in the 3rd quarter. Biltmore Wealth Management LLC now owns 4,771 shares of the technology company’s stock valued at $897,000 after purchasing an additional 54 shares in the last quarter. Baker Tilly Wealth Management LLC lifted its holdings in AMETEK by 3.9% during the 3rd quarter. Baker Tilly Wealth Management LLC now owns 1,663 shares of the technology company’s stock worth $313,000 after buying an additional 63 shares during the last quarter. SouthState Corp lifted its holdings in AMETEK by 47.4% during the 2nd quarter. SouthState Corp now owns 202 shares of the technology company’s stock worth $37,000 after buying an additional 65 shares during the last quarter. CX Institutional boosted its position in shares of AMETEK by 3.7% during the 3rd quarter. CX Institutional now owns 1,869 shares of the technology company’s stock worth $351,000 after acquiring an additional 66 shares in the last quarter. Finally, First Horizon Advisors Inc. increased its holdings in shares of AMETEK by 3.0% in the 2nd quarter. First Horizon Advisors Inc. now owns 2,335 shares of the technology company’s stock valued at $423,000 after acquiring an additional 69 shares during the last quarter. Hedge funds and other institutional investors own 87.43% of the company’s stock.

AMETEK Price Performance

Shares of AME opened at $222.26 on Thursday. The company has a debt-to-equity ratio of 0.14, a quick ratio of 0.72 and a current ratio of 1.16. AMETEK, Inc. has a fifty-two week low of $145.02 and a fifty-two week high of $224.37. The firm has a 50-day simple moving average of $206.41 and a 200-day simple moving average of $193.34. The company has a market capitalization of $51.16 billion, a price-to-earnings ratio of 35.06, a price-to-earnings-growth ratio of 3.01 and a beta of 1.04.

AMETEK (NYSE:AME) last issued its quarterly earnings results on Thursday, October 30th. The technology company reported $1.89 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.76 by $0.13. AMETEK had a return on equity of 16.66% and a net margin of 20.50%.The firm had revenue of $1.89 billion for the quarter, compared to analysts’ expectations of $1.81 billion. During the same quarter in the previous year, the firm posted $1.66 EPS. The firm’s revenue for the quarter was up 10.8% on a year-over-year basis. On average, equities research analysts anticipate that AMETEK, Inc. will post 7.15 earnings per share for the current year.

AMETEK Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, December 19th. Investors of record on Friday, December 5th were issued a dividend of $0.31 per share. 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 dividend payout ratio (DPR) is currently 19.56%.

Insider Activity

In other news, CEO David A. Zapico sold 88,000 shares of the business’s stock in a transaction dated Tuesday, November 25th. The shares were sold at an average price of $196.39, for a total transaction of $17,282,320.00. Following the transaction, the chief executive officer directly owned 348,955 shares in the company, valued at $68,531,272.45. The trade was a 20.14% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Thomas C. Marecic sold 14,310 shares of the stock in a transaction dated 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 transaction, the insider directly owned 42,589 shares of the company’s stock, valued at $8,607,662.79. This represents a 25.15% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders have sold 163,378 shares of company stock valued at $32,471,654. Corporate insiders own 0.57% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on the company. Royal Bank Of Canada boosted their target price on AMETEK from $212.00 to $229.00 and gave the stock an “outperform” rating in a research note on Friday, October 31st. Wall Street Zen raised shares of AMETEK from a “hold” rating to a “buy” rating in a report on Saturday, November 1st. Deutsche Bank Aktiengesellschaft started coverage on shares of AMETEK in a report on Wednesday, January 21st. They issued a “buy” rating and a $271.00 target price for the company. Melius Research set a $235.00 target price on shares of AMETEK in a research report on Monday, January 5th. Finally, Truist Financial boosted their price target on shares of AMETEK from $219.00 to $229.00 and gave the company a “buy” rating in a research report on Wednesday, October 8th. One research analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and four have given a Hold rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $229.82.

AMETEK 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.