Wells Fargo & Company MN Purchases 17,800 Shares of AMETEK, Inc. (NYSE:AME)

Wells Fargo & Company MN boosted its stake in shares of AMETEK, Inc. (NYSE:AME) by 4.1% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 454,487 shares of the technology company’s stock after purchasing an additional 17,800 shares during the quarter. Wells Fargo & Company MN owned about 0.20% of AMETEK worth $74,941,000 at the end of the most recent reporting period.

A number of other institutional investors also recently made changes to their positions in AME. McGlone Suttner Wealth Management Inc. purchased a new position in shares of AMETEK during the fourth quarter valued at approximately $25,000. Wetzel Investment Advisors Inc. purchased a new position in shares of AMETEK in the fourth quarter valued at about $25,000. Turtle Creek Wealth Advisors LLC purchased a new stake in shares of AMETEK in the 4th quarter worth about $26,000. Bruce G. Allen Investments LLC purchased a new stake in shares of AMETEK in the 4th quarter worth about $28,000. Finally, Rakuten Securities Inc. bought a new stake in AMETEK in the fourth quarter worth $31,000. Institutional investors own 87.43% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on AME shares. Robert W. Baird lowered their price objective on shares of AMETEK from $173.00 to $171.00 and set a “neutral” rating on the stock in a research note on Monday, May 6th. Oppenheimer raised AMETEK from a “market perform” rating to an “outperform” rating and set a $200.00 price objective on the stock in a report on Wednesday. StockNews.com upgraded AMETEK from a “hold” rating to a “buy” rating in a research report on Monday, May 13th. KeyCorp increased their price target on AMETEK from $182.00 to $205.00 and gave the stock an “overweight” rating in a report on Tuesday, February 27th. Finally, 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 price target for the company. Three investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $181.64.

Insiders Place Their Bets

In other news, Director Steven W. Kohlhagen sold 1,470 shares of the firm’s stock in a transaction that occurred on Wednesday, May 15th. The shares were sold at an average price of $170.20, for a total transaction of $250,194.00. Following the transaction, the director now directly owns 26,249 shares of the company’s stock, valued at $4,467,579.80. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, Director Steven W. Kohlhagen sold 1,470 shares of the business’s stock in a transaction on Wednesday, May 15th. The shares were sold at an average price of $170.20, for a total value of $250,194.00. Following the transaction, the director now owns 26,249 shares in the company, valued at $4,467,579.80. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, VP Thomas M. Montgomery sold 6,891 shares of the business’s stock in a transaction on Thursday, March 21st. The shares were sold at an average price of $185.38, for a total transaction of $1,277,453.58. Following the transaction, the vice president now owns 21,543 shares in the company, valued at approximately $3,993,641.34. The disclosure for this sale can be found here. Insiders sold a total of 37,941 shares of company stock valued at $6,992,804 in the last quarter. 0.61% of the stock is currently owned by insiders.

AMETEK Trading Up 0.5 %

Shares of AME stock traded up $0.94 during trading hours on Friday, reaching $173.66. 1,030,677 shares of the stock traded hands, compared to its average volume of 1,296,158. The firm has a market capitalization of $40.20 billion, a PE ratio of 30.52, a PEG ratio of 2.77 and a beta of 1.21. The business has a fifty day moving average price of $176.46 and a 200 day moving average price of $168.93. The company has a quick ratio of 0.66, a current ratio of 1.11 and a debt-to-equity ratio of 0.21. AMETEK, Inc. has a 1-year low of $136.89 and a 1-year high of $186.32.

AMETEK (NYSE:AME) last posted its earnings results on Thursday, May 2nd. The technology company reported $1.64 EPS for the quarter, topping the consensus estimate of $1.59 by $0.05. The company had revenue of $1.74 billion during the quarter, compared to the consensus estimate of $1.78 billion. AMETEK had a net margin of 19.57% and a return on equity of 17.74%. The company’s revenue for the quarter was up 9.0% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.49 earnings per share. On average, equities research analysts forecast that AMETEK, Inc. will post 6.83 EPS for the current year.

AMETEK Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, June 28th. Stockholders of record on Friday, June 14th will be given a dividend of $0.28 per share. This represents a $1.12 annualized dividend and a dividend yield of 0.64%. The ex-dividend date of this dividend is Friday, June 14th. AMETEK’s dividend payout ratio is 19.68%.

AMETEK Profile

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.