Summit Trail Advisors LLC Has $1.24 Million Stock Position in AMETEK, Inc. (NYSE:AME)

Summit Trail Advisors LLC lifted its stake in AMETEK, Inc. (NYSE:AME) by 2.4% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 7,240 shares of the technology company’s stock after buying an additional 170 shares during the period. Summit Trail Advisors LLC’s holdings in AMETEK were worth $1,243,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of the stock. Swedbank AB raised its holdings in shares of AMETEK by 3.9% in the 3rd quarter. Swedbank AB now owns 70,517 shares of the technology company’s stock worth $12,108,000 after buying an additional 2,659 shares in the last quarter. Cerity Partners LLC raised its holdings in shares of AMETEK by 60.0% in the 3rd quarter. Cerity Partners LLC now owns 108,341 shares of the technology company’s stock worth $18,603,000 after buying an additional 40,616 shares in the last quarter. Raymond James Trust N.A. raised its holdings in shares of AMETEK by 4.9% in the 3rd quarter. Raymond James Trust N.A. now owns 9,935 shares of the technology company’s stock worth $1,706,000 after buying an additional 467 shares in the last quarter. Charles Schwab Investment Management Inc. raised its holdings in shares of AMETEK by 1.5% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,291,649 shares of the technology company’s stock worth $221,789,000 after buying an additional 19,435 shares in the last quarter. Finally, Pacer Advisors Inc. raised its holdings in shares of AMETEK by 21.3% in the 3rd quarter. Pacer Advisors Inc. now owns 47,469 shares of the technology company’s stock worth $8,151,000 after buying an additional 8,347 shares in the last quarter. 87.43% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other AMETEK news, insider David F. Hermance sold 6,243 shares of the business’s stock in a transaction that occurred on Friday, November 8th. The shares were sold at an average price of $190.99, for a total transaction of $1,192,350.57. Following the sale, the insider now directly owns 36,731 shares of the company’s stock, valued at $7,015,253.69. The trade was a 14.53 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Steven W. Kohlhagen sold 1,460 shares of the stock in a transaction that occurred on Wednesday, September 25th. The shares were sold at an average price of $171.59, for a total transaction of $250,521.40. Following the sale, the director now directly owns 23,349 shares of the company’s stock, valued at $4,006,454.91. This represents a 5.88 % decrease in their position. The disclosure for this sale can be found here. 0.61% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

AME has been the subject of a number of recent research reports. Royal Bank of Canada dropped their target price on AMETEK from $216.00 to $215.00 and set an “outperform” rating for the company in a report on Friday, August 2nd. Truist Financial increased their price target on AMETEK from $219.00 to $221.00 and gave the stock a “buy” rating in a research report on Friday, November 1st. Wolfe Research upgraded AMETEK to a “hold” rating in a research report on Wednesday, September 18th. KeyCorp increased their price target on AMETEK from $205.00 to $215.00 and gave the stock an “overweight” rating in a research report on Friday. Finally, Robert W. Baird increased their price target on AMETEK from $166.00 to $186.00 and gave the stock a “neutral” rating in a research report on Monday, November 4th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating, five have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, AMETEK presently has an average rating of “Moderate Buy” and an average price target of $199.29.

AMETEK Stock Up 0.8 %

Shares of NYSE:AME opened at $197.38 on Monday. The company has a 50 day moving average price of $176.46 and a two-hundred day moving average price of $170.72. The company has a market capitalization of $45.66 billion, a PE ratio of 34.39, a PEG ratio of 3.19 and a beta of 1.16. AMETEK, Inc. has a 52 week low of $149.03 and a 52 week high of $197.83. The company has a debt-to-equity ratio of 0.18, a quick ratio of 0.84 and a current ratio of 1.39.

AMETEK (NYSE:AME) last released its earnings results on Thursday, October 31st. The technology company reported $1.66 EPS for the quarter, beating the consensus estimate of $1.62 by $0.04. The firm had revenue of $1.71 billion for the quarter, compared to analysts’ expectations of $1.71 billion. AMETEK had a return on equity of 16.88% and a net margin of 19.27%. The business’s quarterly revenue was up 5.3% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.64 EPS. Analysts forecast that AMETEK, Inc. will post 6.8 earnings per share for the current year.

AMETEK Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, December 20th. Stockholders of record on Friday, December 6th will be paid a dividend of $0.28 per share. The ex-dividend date is Friday, December 6th. This represents a $1.12 dividend on an annualized basis and a dividend yield of 0.57%. AMETEK’s dividend payout ratio (DPR) is currently 19.51%.

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.