Financial Advocates Investment Management Acquires Shares of 1,427 AMETEK, Inc. (NYSE:AME)

Financial Advocates Investment Management acquired a new stake in AMETEK, Inc. (NYSE:AME) in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 1,427 shares of the technology company’s stock, valued at approximately $235,000.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Giverny Capital Inc. increased its holdings in AMETEK by 0.5% in the third quarter. Giverny Capital Inc. now owns 897,056 shares of the technology company’s stock valued at $132,549,000 after buying an additional 4,556 shares in the last quarter. Kestra Private Wealth Services LLC increased its stake in shares of AMETEK by 11.6% during the third quarter. Kestra Private Wealth Services LLC now owns 3,637 shares of the technology company’s stock worth $537,000 after purchasing an additional 378 shares in the last quarter. Pacer Advisors Inc. increased its stake in shares of AMETEK by 161.0% during the fourth quarter. Pacer Advisors Inc. now owns 44,684 shares of the technology company’s stock worth $7,368,000 after purchasing an additional 27,562 shares in the last quarter. Tyche Wealth Partners LLC purchased a new stake in shares of AMETEK during the fourth quarter worth about $6,275,000. Finally, Provence Wealth Management Group increased its stake in shares of AMETEK by 5.5% during the fourth quarter. Provence Wealth Management Group now owns 1,435 shares of the technology company’s stock worth $237,000 after purchasing an additional 75 shares in the last quarter. Hedge funds and other institutional investors own 87.43% of the company’s stock.

AMETEK Stock Performance

AME opened at $174.13 on Thursday. The firm has a market capitalization of $40.31 billion, a PE ratio of 30.60, a PEG ratio of 2.70 and a beta of 1.21. AMETEK, Inc. has a twelve month low of $136.89 and a twelve month high of $186.32. The firm’s 50-day moving average price is $176.80 and its 200 day moving average price is $168.69. The company has a current ratio of 1.11, a quick ratio of 0.66 and a debt-to-equity ratio of 0.21.

AMETEK (NYSE:AME) last posted its earnings results on Thursday, May 2nd. The technology company reported $1.64 earnings per share for the quarter, beating the consensus estimate of $1.59 by $0.05. The company had revenue of $1.74 billion for the quarter, compared to analyst estimates of $1.78 billion. AMETEK had a net margin of 19.57% and a return on equity of 17.74%. AMETEK’s revenue was up 9.0% on a year-over-year basis. During the same period in the previous year, the business posted $1.49 EPS. As a group, sell-side analysts expect that AMETEK, Inc. will post 6.83 EPS for the current fiscal year.

AMETEK Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, June 28th. Shareholders of record on Friday, June 14th will be issued a $0.28 dividend. The ex-dividend date is Friday, June 14th. This represents a $1.12 annualized dividend and a yield of 0.64%. AMETEK’s payout ratio is 19.68%.

Insider Buying and Selling at AMETEK

In other AMETEK news, VP Thomas M. Montgomery sold 6,891 shares of the business’s stock in a transaction dated Thursday, March 21st. The shares were sold at an average price of $185.38, for a total value of $1,277,453.58. Following the transaction, the vice president now directly owns 21,543 shares in the company, valued at approximately $3,993,641.34. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, CFO William Joseph Burke sold 27,400 shares of the company’s stock in a transaction that occurred on Thursday, March 21st. The shares were sold at an average price of $185.05, for a total value of $5,070,370.00. Following the transaction, the chief financial officer now directly owns 106,512 shares in the company, valued at approximately $19,710,045.60. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, VP Thomas M. Montgomery sold 6,891 shares of the company’s stock in a transaction that occurred on Thursday, March 21st. The stock was sold at an average price of $185.38, for a total transaction of $1,277,453.58. Following the completion of the transaction, the vice president now owns 21,543 shares in the company, valued at $3,993,641.34. The disclosure for this sale can be found here. Insiders have sold 37,941 shares of company stock worth $6,992,804 in the last ninety days. 0.61% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on AME shares. KeyCorp boosted their target price on shares of AMETEK from $182.00 to $205.00 and gave the stock an “overweight” rating in a research note on Tuesday, February 27th. Truist Financial started coverage on shares of AMETEK in a research note on Thursday, March 14th. They set a “buy” rating and a $210.00 target price for the company. Royal Bank of Canada cut their target price on shares of AMETEK from $192.00 to $188.00 and set an “outperform” rating for the company in a research note on Wednesday, February 7th. StockNews.com raised shares of AMETEK from a “hold” rating to a “buy” rating in a research note on Monday, May 13th. Finally, Oppenheimer upgraded shares of AMETEK from a “market perform” rating to an “outperform” rating and set a $200.00 price target on the stock in a research report on Wednesday. Three analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $181.64.

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.