AMETEK, Inc. (NYSE:AME) Shares Bought by Price T Rowe Associates Inc. MD

Posted by MarketBeat News on Mar 14th, 2023

Price T Rowe Associates Inc. MD increased its position in AMETEK, Inc. (NYSE:AME – Get Rating) by 46.3% during the third quarter, HoldingsChannel.com reports. The fund owned 531,573 shares of the technology company’s stock after acquiring an additional 168,180 shares during the quarter. Price T Rowe Associates Inc. MD’s holdings in AMETEK were worth $60,287,000 at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of AME. Cambridge Investment Research Advisors Inc. increased its holdings in AMETEK by 9.6% during the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 4,306 shares of the technology company’s stock valued at $573,000 after acquiring an additional 376 shares in the last quarter. Lord Abbett & CO. LLC increased its stake in shares of AMETEK by 12.7% during the 1st quarter. Lord Abbett & CO. LLC now owns 84,481 shares of the technology company’s stock worth $11,251,000 after purchasing an additional 9,510 shares in the last quarter. Prudential PLC acquired a new position in shares of AMETEK during the 1st quarter worth approximately $591,000. Cetera Investment Advisers lifted its stake in AMETEK by 45.1% in the 1st quarter. Cetera Investment Advisers now owns 2,974 shares of the technology company’s stock valued at $396,000 after buying an additional 924 shares in the last quarter. Finally, Sequoia Financial Advisors LLC grew its holdings in AMETEK by 41.7% during the 1st quarter. Sequoia Financial Advisors LLC now owns 2,379 shares of the technology company’s stock valued at $316,000 after buying an additional 700 shares during the last quarter. 85.42% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on AME. KeyCorp upped their price objective on AMETEK from $145.00 to $165.00 and gave the company an “overweight” rating in a research report on Monday, November 21st. StockNews.com downgraded shares of AMETEK from a “buy” rating to a “hold” rating in a report on Thursday, January 5th. Morgan Stanley upped their price objective on shares of AMETEK from $152.00 to $155.00 and gave the company an “overweight” rating in a research note on Friday, February 3rd. Loop Capital lifted their target price on shares of AMETEK from $160.00 to $164.00 in a research note on Thursday, January 12th. Finally, Wolfe Research cut AMETEK from an “outperform” rating to a “peer perform” rating in a report on Thursday, February 23rd. Four investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. Based on data from MarketBeat, AMETEK presently has a consensus rating of “Moderate Buy” and a consensus price target of $151.11.

Insider Activity at AMETEK

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In other news, Director Anthony James Conti sold 2,000 shares of the company’s stock in a transaction dated Friday, March 3rd. The stock was sold at an average price of $143.61, for a total value of $287,220.00. Following the completion of the sale, the director now owns 26,078 shares of the company’s stock, valued at $3,745,061.58. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In other AMETEK news, Director Gretchen W. Mcclain sold 2,720 shares of the business’s stock in a transaction on Wednesday, December 28th. The shares were sold at an average price of $140.62, for a total value of $382,486.40. Following the transaction, the director now owns 14,704 shares in the company, valued at approximately $2,067,676.48. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Anthony James Conti sold 2,000 shares of the company’s stock in a transaction dated Friday, March 3rd. The shares were sold at an average price of $143.61, for a total transaction of $287,220.00. Following the completion of the transaction, the director now directly owns 26,078 shares of the company’s stock, valued at $3,745,061.58. The disclosure for this sale can be found here. In the last three months, insiders sold 16,660 shares of company stock worth $2,400,378. Corporate insiders own 0.72% of the company’s stock.

AMETEK Stock Performance

Shares of NYSE:AME opened at $135.35 on Tuesday. The business has a 50-day moving average of $143.12 and a two-hundred day moving average of $133.99. The firm has a market capitalization of $31.14 billion, a PE ratio of 27.02, a P/E/G ratio of 2.57 and a beta of 1.22. The company has a debt-to-equity ratio of 0.29, a current ratio of 1.62 and a quick ratio of 0.95. AMETEK, Inc. has a 12 month low of $106.17 and a 12 month high of $148.06.

AMETEK (NYSE:AME – Get Rating) last posted its earnings results on Thursday, February 2nd. The technology company reported $1.52 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.47 by $0.05. AMETEK had a net margin of 18.85% and a return on equity of 18.46%. The firm had revenue of $1.63 billion during the quarter, compared to the consensus estimate of $1.59 billion. During the same quarter in the prior year, the company earned $1.37 EPS. The company’s revenue was up 8.7% on a year-over-year basis. As a group, research analysts forecast that AMETEK, Inc. will post 5.98 earnings per share for the current year.

AMETEK Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, March 31st. Investors of record on Friday, March 10th will be given a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 0.74%. This is a boost from AMETEK’s previous quarterly dividend of $0.22. The ex-dividend date is Thursday, March 9th. AMETEK’s dividend payout ratio is 19.96%.

AMETEK Company Profile

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AMETEK, Inc engages in the manufacture of electronic instruments and electromechanical devices. It operates through the following two segments: Electronic Instruments (EIG) and Electromechanical (EMG). The EIG segment designs and manufactures advanced instruments for the process, aerospace, power and industrial markets.