Biltmore Wealth Management LLC decreased its holdings in shares of AMETEK, Inc. (NYSE:AME – Free Report) by 14.1% in the 2nd quarter, according to its most recent 13F filing with the SEC. The fund owned 5,388 shares of the technology company’s stock after selling 884 shares during the period. AMETEK makes up 0.4% of Biltmore Wealth Management LLC’s holdings, making the stock its 22nd largest position. Biltmore Wealth Management LLC’s holdings in AMETEK were worth $872,000 as of its most recent SEC filing.
Other institutional investors and hedge funds also recently modified their holdings of the company. Norges Bank acquired a new position in shares of AMETEK in the 4th quarter valued at approximately $509,944,000. Price T Rowe Associates Inc. MD lifted its stake in AMETEK by 643.7% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 3,953,131 shares of the technology company’s stock valued at $552,332,000 after buying an additional 3,421,558 shares in the last quarter. FMR LLC increased its position in shares of AMETEK by 34.9% during the first quarter. FMR LLC now owns 10,042,152 shares of the technology company’s stock worth $1,459,426,000 after acquiring an additional 2,597,135 shares in the last quarter. Moneta Group Investment Advisors LLC raised its holdings in shares of AMETEK by 39,681.6% during the fourth quarter. Moneta Group Investment Advisors LLC now owns 1,827,569 shares of the technology company’s stock worth $255,348,000 after acquiring an additional 1,822,975 shares during the period. Finally, Morgan Stanley lifted its position in AMETEK by 93.2% in the 4th quarter. Morgan Stanley now owns 3,678,094 shares of the technology company’s stock valued at $513,903,000 after acquiring an additional 1,774,651 shares in the last quarter. 85.70% of the stock is owned by institutional investors.
Insider Activity at AMETEK
In other news, Director Steven W. Kohlhagen sold 1,565 shares of the company’s stock in a transaction on Wednesday, August 9th. The stock was sold at an average price of $160.37, for a total transaction of $250,979.05. Following the completion of the sale, the director now directly owns 31,909 shares in the company, valued at approximately $5,117,246.33. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In other news, Director Steven W. Kohlhagen sold 1,645 shares of the business’s stock in a transaction on Thursday, September 14th. The stock was sold at an average price of $152.74, for a total transaction of $251,257.30. Following the completion of the transaction, the director now owns 30,264 shares of the company’s stock, valued at approximately $4,622,523.36. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, Director Steven W. Kohlhagen sold 1,565 shares of the company’s stock in a transaction on Wednesday, August 9th. The stock was sold at an average price of $160.37, for a total value of $250,979.05. Following the sale, the director now owns 31,909 shares of the company’s stock, valued at $5,117,246.33. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 37,140 shares of company stock worth $5,940,876. Company insiders own 0.72% of the company’s stock.
AMETEK Stock Performance
AMETEK (NYSE:AME – Get Free Report) last posted its earnings results on Tuesday, August 1st. The technology company reported $1.57 earnings per share for the quarter, topping analysts’ consensus estimates of $1.52 by $0.05. AMETEK had a return on equity of 18.32% and a net margin of 19.23%. The company had revenue of $1.65 billion during the quarter, compared to the consensus estimate of $1.64 billion. During the same quarter last year, the firm earned $1.38 earnings per share. The company’s revenue was up 8.7% on a year-over-year basis. Analysts forecast that AMETEK, Inc. will post 6.25 EPS for the current year.
AMETEK Announces Dividend
The firm also recently declared a quarterly dividend, which will be paid on Friday, September 29th. Stockholders of record on Thursday, September 14th will be given a $0.25 dividend. The ex-dividend date of this dividend is Wednesday, September 13th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.65%. AMETEK’s payout ratio is 18.73%.
Wall Street Analysts Forecast Growth
Several research analysts have recently weighed in on the company. Morgan Stanley upped their price objective on AMETEK from $162.00 to $174.00 and gave the stock an “overweight” rating in a research report on Wednesday, August 2nd. DA Davidson boosted their price target on shares of AMETEK from $177.00 to $180.00 in a research report on Thursday, June 8th. StockNews.com initiated coverage on AMETEK in a report on Thursday, August 17th. They issued a “buy” rating for the company. KeyCorp increased their price target on AMETEK from $165.00 to $176.00 and gave the company an “overweight” rating in a research report on Wednesday, August 2nd. Finally, Royal Bank of Canada boosted their price target on AMETEK from $174.00 to $182.00 and gave the stock an “outperform” rating in a research report on Wednesday, August 2nd. One investment analyst has rated the stock with a hold rating and seven have given a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $175.29.
AMETEK, Inc manufactures and sells electronic instruments and electromechanical devices in North America, Europe, Asia, and South America. 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.Its EMG segment offers engineered electrical connectors and electronics packaging to protect sensitive devices and mission-critical electronics; precision motion control products for data storage, medical devices, business equipment, automation, and other applications; high-purity powdered metals, strips and foils, specialty clad metals, and metal matrix composites; motor-blower systems and heat exchangers for use in thermal management, military, commercial aircraft, and military ground vehicles; and motors for use in commercial appliances, fitness equipment, food and beverage machines, hydraulic pumps, and industrial blowers.
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