Kestra Private Wealth Services LLC Invests $317,000 in AMETEK, Inc. (NYSE:AME)

Kestra Private Wealth Services LLC bought a new position in AMETEK, Inc. (NYSE:AMEGet Rating) during the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm bought 2,381 shares of the technology company’s stock, valued at approximately $317,000.

Several other institutional investors have also made changes to their positions in the company. Vanguard Group Inc. boosted its holdings in shares of AMETEK by 1.9% during the first quarter. Vanguard Group Inc. now owns 24,608,566 shares of the technology company’s stock worth $3,277,369,000 after purchasing an additional 463,926 shares during the period. BlackRock Inc. boosted its holdings in shares of AMETEK by 2.7% during the first quarter. BlackRock Inc. now owns 15,699,216 shares of the technology company’s stock worth $2,090,820,000 after purchasing an additional 419,800 shares during the period. State Street Corp boosted its holdings in shares of AMETEK by 0.7% during the fourth quarter. State Street Corp now owns 9,295,593 shares of the technology company’s stock worth $1,366,824,000 after purchasing an additional 60,786 shares during the period. JPMorgan Chase & Co. lifted its stake in AMETEK by 8.5% in the first quarter. JPMorgan Chase & Co. now owns 5,595,759 shares of the technology company’s stock valued at $745,243,000 after acquiring an additional 437,235 shares during the last quarter. Finally, Alliancebernstein L.P. lifted its stake in AMETEK by 16.2% in the fourth quarter. Alliancebernstein L.P. now owns 4,145,865 shares of the technology company’s stock valued at $609,608,000 after acquiring an additional 578,836 shares during the last quarter. 85.46% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on AME. Royal Bank of Canada reiterated an “outperform” rating on shares of AMETEK in a research note on Wednesday, August 3rd. Bank of America cut shares of AMETEK from a “buy” rating to a “neutral” rating and reduced their target price for the company from $170.00 to $122.00 in a research note on Monday, July 11th. DA Davidson lifted their target price on shares of AMETEK to $160.00 in a research note on Tuesday, August 9th. Mizuho lifted their target price on shares of AMETEK from $135.00 to $140.00 and gave the company a “buy” rating in a research note on Wednesday, August 3rd. Finally, Loop Capital reduced their price objective on shares of AMETEK from $170.00 to $155.00 and set a “buy” rating for the company in a research note on Tuesday, July 19th. Two investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to data from MarketBeat.com, AMETEK has an average rating of “Moderate Buy” and an average target price of $148.56.

AMETEK Price Performance

Shares of AMETEK stock opened at $118.86 on Wednesday. AMETEK, Inc. has a 1-year low of $106.17 and a 1-year high of $148.07. The firm has a fifty day simple moving average of $121.67 and a 200-day simple moving average of $122.53. The stock has a market capitalization of $27.29 billion, a price-to-earnings ratio of 25.29, a PEG ratio of 2.31 and a beta of 1.26. The company has a current ratio of 1.48, a quick ratio of 0.88 and a debt-to-equity ratio of 0.31.

AMETEK (NYSE:AMEGet Rating) last announced its earnings results on Tuesday, August 2nd. The technology company reported $1.38 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.29 by $0.09. AMETEK had a net margin of 18.49% and a return on equity of 18.20%. The business had revenue of $1.51 billion for the quarter, compared to analyst estimates of $1.46 billion. During the same quarter in the previous year, the firm posted $1.15 earnings per share. AMETEK’s revenue was up 9.2% compared to the same quarter last year. On average, sell-side analysts expect that AMETEK, Inc. will post 5.52 earnings per share for the current year.

AMETEK Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, September 30th. Investors of record on Wednesday, September 14th will be given a dividend of $0.22 per share. This represents a $0.88 dividend on an annualized basis and a yield of 0.74%. The ex-dividend date is Tuesday, September 13th. AMETEK’s dividend payout ratio (DPR) is currently 18.72%.

Insider Buying and Selling

In related news, Director Steven W. Kohlhagen sold 3,100 shares of the business’s stock in a transaction on Thursday, September 8th. The shares were sold at an average price of $123.75, for a total transaction of $383,625.00. Following the transaction, the director now owns 42,864 shares of the company’s stock, valued at $5,304,420. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other AMETEK news, Director Steven W. Kohlhagen sold 3,000 shares of the business’s stock in a transaction on Wednesday, August 10th. The shares were sold at an average price of $126.81, for a total value of $380,430.00. Following the sale, the director now owns 45,964 shares of the company’s stock, valued at approximately $5,828,694.84. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, Director Steven W. Kohlhagen sold 3,100 shares of the business’s stock in a transaction on Thursday, September 8th. The shares were sold at an average price of $123.75, for a total transaction of $383,625.00. Following the completion of the sale, the director now directly owns 42,864 shares in the company, valued at approximately $5,304,420. The disclosure for this sale can be found here. 0.72% of the stock is currently owned by insiders.

AMETEK Profile

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AMETEK, Inc manufactures and sells electronic instruments and electromechanical devices worldwide. It operates in two segments, Electronic Instruments (EIG) and Electromechanical (EMG). 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; and instruments to the laboratory equipment, ultra-precision manufacturing, medical, and test and measurement markets.

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Institutional Ownership by Quarter for AMETEK (NYSE:AME)

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