AMETEK, Inc. (NYSE:AME) Shares Acquired by Wallace Advisory Group LLC

Wallace Advisory Group LLC boosted its stake in AMETEK, Inc. (NYSE:AME) by 5.8% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,371 shares of the technology company’s stock after purchasing an additional 75 shares during the period. Wallace Advisory Group LLC’s holdings in AMETEK were worth $235,000 at the end of the most recent reporting period.

Several other hedge funds also recently added to or reduced their stakes in AME. EdgePoint Investment Group Inc. grew its stake in shares of AMETEK by 87.9% in the third quarter. EdgePoint Investment Group Inc. now owns 1,964,236 shares of the technology company’s stock valued at $337,279,000 after buying an additional 918,737 shares in the last quarter. Meridiem Investment Management Ltd. acquired a new stake in AMETEK in the third quarter valued at approximately $130,579,000. Principal Financial Group Inc. raised its stake in shares of AMETEK by 72.0% during the third quarter. Principal Financial Group Inc. now owns 1,680,309 shares of the technology company’s stock valued at $288,526,000 after purchasing an additional 703,501 shares during the period. D1 Capital Partners L.P. acquired a new position in shares of AMETEK during the third quarter worth $79,782,000. Finally, James Hambro & Partners LLP purchased a new position in shares of AMETEK in the third quarter valued at $60,188,000. 87.43% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages have commented on AME. Robert W. Baird boosted their price objective on shares of AMETEK from $166.00 to $186.00 and gave the stock a “neutral” rating in a report on Monday, November 4th. Bank of America upgraded AMETEK from a “neutral” rating to a “buy” rating and lifted their price objective for the stock from $195.00 to $225.00 in a report on Monday, December 16th. KeyCorp lifted their price target on shares of AMETEK from $205.00 to $215.00 and gave the stock an “overweight” rating in a research note on Friday, November 22nd. Mizuho increased their price objective on shares of AMETEK from $190.00 to $200.00 and gave the company an “outperform” rating in a research note on Friday, November 1st. Finally, Truist Financial boosted their target price on shares of AMETEK from $219.00 to $221.00 and gave the stock a “buy” rating in a research report on Friday, November 1st. One analyst has rated the stock with a sell rating, two have given a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $202.50.

Insider Buying and Selling at AMETEK

In other AMETEK news, insider Tony J. Ciampitti sold 16,210 shares of the company’s stock in a transaction that occurred on Friday, November 22nd. The stock was sold at an average price of $197.01, for a total value of $3,193,532.10. Following the completion of the sale, the insider now directly owns 49,490 shares in the company, valued at $9,750,024.90. This represents a 24.67 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider David F. Hermance sold 6,243 shares of the stock in a transaction on Friday, November 8th. The shares were sold at an average price of $190.99, for a total value of $1,192,350.57. Following the transaction, the insider now directly owns 36,731 shares of the company’s stock, valued at approximately $7,015,253.69. The trade was a 14.53 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 29,200 shares of company stock worth $5,707,620. 0.61% of the stock is owned by company insiders.

AMETEK Stock Performance

Shares of AME stock opened at $176.48 on Tuesday. The company has a market cap of $40.82 billion, a P/E ratio of 30.75, a PEG ratio of 3.08 and a beta of 1.16. The business has a 50 day moving average of $187.80 and a two-hundred day moving average of $174.85. AMETEK, Inc. has a 52 week low of $149.03 and a 52 week high of $198.33. The company has a quick ratio of 0.84, a current ratio of 1.39 and a debt-to-equity ratio of 0.18.

AMETEK (NYSE:AME) last issued its earnings results on Thursday, October 31st. The technology company reported $1.66 earnings per share for the quarter, topping the consensus estimate of $1.62 by $0.04. AMETEK had a return on equity of 16.88% and a net margin of 19.27%. The firm had revenue of $1.71 billion for the quarter, compared to analyst estimates of $1.71 billion. During the same period last year, the company earned $1.64 earnings per share. The firm’s revenue for the quarter was up 5.3% on a year-over-year basis. As a group, analysts anticipate that AMETEK, Inc. will post 6.8 EPS for the current year.

AMETEK Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, December 20th. Shareholders of record on Friday, December 6th were given a $0.28 dividend. This represents a $1.12 annualized dividend and a yield of 0.63%. The ex-dividend date was Friday, December 6th. AMETEK’s dividend payout ratio (DPR) is 19.51%.

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.