AlphaQuest LLC Buys New Shares in AMETEK, Inc. $AME

AlphaQuest LLC bought a new position in shares of AMETEK, Inc. (NYSE:AME) during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor bought 21,330 shares of the technology company’s stock, valued at approximately $4,010,000.

Other hedge funds have also recently bought and sold shares of the company. Sivia Capital Partners LLC acquired a new stake in shares of AMETEK in the 2nd quarter valued at approximately $295,000. ASR Vermogensbeheer N.V. lifted its stake in AMETEK by 42.2% in the second quarter. ASR Vermogensbeheer N.V. now owns 162,555 shares of the technology company’s stock valued at $29,415,000 after acquiring an additional 48,207 shares during the last quarter. J. Safra Sarasin Holding AG lifted its stake in AMETEK by 533.3% in the second quarter. J. Safra Sarasin Holding AG now owns 10,398 shares of the technology company’s stock valued at $1,882,000 after acquiring an additional 8,756 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. grew its position in shares of AMETEK by 35.2% in the 2nd quarter. Mirae Asset Global Investments Co. Ltd. now owns 30,942 shares of the technology company’s stock valued at $5,599,000 after acquiring an additional 8,064 shares during the period. Finally, Ameritas Advisory Services LLC acquired a new position in shares of AMETEK during the 2nd quarter worth about $73,000. 87.43% of the stock is currently owned by institutional investors.

AMETEK Trading Up 1.8%

Shares of NYSE:AME opened at $226.56 on Friday. The business’s 50 day simple moving average is $207.14 and its 200 day simple moving average is $193.57. AMETEK, Inc. has a 1 year low of $145.02 and a 1 year high of $226.68. The company has a debt-to-equity ratio of 0.14, a current ratio of 1.16 and a quick ratio of 0.72. The company has a market capitalization of $52.15 billion, a P/E ratio of 35.74, a P/E/G ratio of 3.03 and a beta of 1.04.

AMETEK (NYSE:AME) last released its earnings results on Thursday, October 30th. The technology company reported $1.89 EPS for the quarter, beating the consensus estimate of $1.76 by $0.13. AMETEK had a net margin of 20.50% and a return on equity of 16.66%. The firm had revenue of $1.89 billion for the quarter, compared to analyst estimates of $1.81 billion. During the same period last year, the firm earned $1.66 EPS. The business’s quarterly revenue was up 10.8% compared to the same quarter last year. On average, research analysts anticipate that AMETEK, Inc. will post 7.15 EPS for the current fiscal year.

AMETEK Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, December 19th. Shareholders of record on Friday, December 5th were issued a dividend of $0.31 per share. The ex-dividend date was Friday, December 5th. This represents a $1.24 annualized dividend and a yield of 0.5%. AMETEK’s dividend payout ratio (DPR) is presently 19.56%.

Analyst Ratings Changes

A number of equities analysts have weighed in on the company. DA Davidson boosted their price target on AMETEK from $235.00 to $240.00 and gave the stock a “buy” rating in a research report on Monday, December 8th. TD Cowen upgraded AMETEK from a “sell” rating to a “buy” rating in a research note on Tuesday, December 23rd. Truist Financial increased their price target on AMETEK from $219.00 to $229.00 and gave the company a “buy” rating in a research note on Wednesday, October 8th. Oppenheimer cut shares of AMETEK from an “outperform” rating to a “market perform” rating in a research report on Tuesday. Finally, Deutsche Bank Aktiengesellschaft initiated coverage on shares of AMETEK in a report on Wednesday, January 21st. They issued a “buy” rating and a $271.00 price objective on the stock. One research analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and four have issued a Hold rating to the stock. Based on data from MarketBeat.com, AMETEK currently has a consensus rating of “Moderate Buy” and an average price target of $229.82.

Insider Activity

In related news, CEO David A. Zapico sold 28,390 shares of the business’s stock in a transaction on Friday, December 12th. The shares were sold at an average price of $201.76, for a total value of $5,727,966.40. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Thomas C. Marecic sold 14,310 shares of the business’s stock in a transaction that occurred on Monday, December 15th. The shares were sold at an average price of $202.11, for a total value of $2,892,194.10. Following the completion of the transaction, the insider directly owned 42,589 shares in the company, valued at approximately $8,607,662.79. This trade 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 three months, insiders have sold 137,088 shares of company stock valued at $27,212,340. 0.57% of the stock is currently owned by insiders.

About AMETEK

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.