FSM Wealth Advisors LLC lowered its holdings in AMETEK, Inc. (NYSE:AME – Free Report) by 62.4% during the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 2,394 shares of the technology company’s stock after selling 3,974 shares during the quarter. FSM Wealth Advisors LLC’s holdings in AMETEK were worth $491,000 at the end of the most recent reporting period.
A number of other hedge funds have also made changes to their positions in the business. Fort Washington Investment Advisors Inc. OH increased its holdings in shares of AMETEK by 2.9% in the 4th quarter. Fort Washington Investment Advisors Inc. OH now owns 1,816 shares of the technology company’s stock valued at $373,000 after acquiring an additional 51 shares during the last quarter. Parallel Advisors LLC increased its holdings in shares of AMETEK by 2.0% in the 3rd quarter. Parallel Advisors LLC now owns 2,766 shares of the technology company’s stock valued at $520,000 after acquiring an additional 53 shares during the last quarter. Biltmore Wealth Management LLC increased 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 acquiring an additional 54 shares during the last quarter. Brooklyn Investment Group increased its holdings in shares of AMETEK by 3.2% in the 3rd quarter. Brooklyn Investment Group now owns 1,735 shares of the technology company’s stock valued at $326,000 after acquiring an additional 54 shares during the last quarter. Finally, Cim LLC increased its holdings in shares of AMETEK by 0.7% in the 3rd quarter. Cim LLC now owns 7,645 shares of the technology company’s stock valued at $1,437,000 after acquiring an additional 56 shares during the last quarter. Hedge funds and other institutional investors own 87.43% of the company’s stock.
AMETEK Trading Down 0.3%
Shares of AME stock opened at $234.25 on Tuesday. The business’s 50 day moving average is $225.19 and its two-hundred day moving average is $208.78. AMETEK, Inc. has a twelve month low of $153.73 and a twelve month high of $242.05. The company has a market capitalization of $53.66 billion, a P/E ratio of 36.60, a price-to-earnings-growth ratio of 3.37 and a beta of 1.04. The company has a current ratio of 1.06, a quick ratio of 0.67 and a debt-to-equity ratio of 0.10.
AMETEK Increases Dividend
The business also recently announced a quarterly dividend, which was paid on Tuesday, March 31st. Shareholders of record on Monday, March 16th were paid a $0.34 dividend. This is an increase from AMETEK’s previous quarterly dividend of $0.31. The ex-dividend date was Monday, March 16th. This represents a $1.36 annualized dividend and a dividend yield of 0.6%. AMETEK’s dividend payout ratio (DPR) is 21.25%.
Wall Street Analysts Forecast Growth
AME has been the topic of a number of recent analyst reports. Deutsche Bank Aktiengesellschaft started coverage on AMETEK in a report on Wednesday, January 21st. They issued a “buy” rating and a $271.00 price objective on the stock. Royal Bank Of Canada reissued an “outperform” rating and issued a $257.00 target price on shares of AMETEK in a research report on Wednesday, February 4th. Wall Street Zen cut AMETEK from a “buy” rating to a “hold” rating in a research report on Saturday. Morgan Stanley upped their target price on AMETEK from $215.00 to $235.00 and gave the company an “equal weight” rating in a research report on Thursday, March 12th. Finally, Barclays upped their target price on AMETEK from $210.00 to $220.00 and gave the company an “equal weight” rating in a research report on Wednesday, February 4th. One equities research analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and four have issued a Hold rating to the company. Based on data from MarketBeat, AMETEK has a consensus rating of “Moderate Buy” and a consensus price target of $244.67.
Get Our Latest Research Report on AME
Insider Buying and Selling at AMETEK
In other AMETEK news, Director Thomas A. Amato sold 530 shares of AMETEK stock in a transaction that occurred on Tuesday, March 24th. The stock was sold at an average price of $216.78, for a total value of $114,893.40. Following the transaction, the director directly owned 4,480 shares in the company, valued at approximately $971,174.40. This trade represents a 10.58% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Company insiders own 0.54% of the company’s stock.
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.
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