Spire Wealth Management Acquires 603 Shares of AMETEK, Inc. (NYSE:AME)

Spire Wealth Management boosted its holdings in shares of AMETEK, Inc. (NYSE:AMEFree Report) by 272.9% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 824 shares of the technology company’s stock after purchasing an additional 603 shares during the period. Spire Wealth Management’s holdings in AMETEK were worth $122,000 as of its most recent SEC filing.

Other institutional investors also recently added to or reduced their stakes in the company. Norges Bank bought a new position in shares of AMETEK during the 4th quarter worth approximately $509,944,000. Price T Rowe Associates Inc. MD lifted its holdings in shares of AMETEK by 643.7% during 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 acquiring an additional 3,421,558 shares during the period. Moneta Group Investment Advisors LLC boosted its stake in shares of AMETEK by 39,681.6% in the 4th quarter. Moneta Group Investment Advisors LLC now owns 1,827,569 shares of the technology company’s stock valued at $255,348,000 after purchasing an additional 1,822,975 shares in the last quarter. Morgan Stanley grew its holdings in shares of AMETEK by 93.2% in the 4th quarter. Morgan Stanley now owns 3,678,094 shares of the technology company’s stock worth $513,903,000 after purchasing an additional 1,774,651 shares during the last quarter. Finally, BlackRock Inc. increased its position in shares of AMETEK by 5.4% during the 2nd quarter. BlackRock Inc. now owns 17,085,162 shares of the technology company’s stock worth $2,765,746,000 after purchasing an additional 870,060 shares in the last quarter. 85.70% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities analysts have commented on AME shares. StockNews.com lowered shares of AMETEK from a “buy” rating to a “hold” rating in a research report on Friday. Royal Bank of Canada decreased their price target on AMETEK from $192.00 to $188.00 and set an “outperform” rating on the stock in a research report on Wednesday. TD Cowen downgraded AMETEK from an “outperform” rating to a “market perform” rating and cut their price objective for the company from $165.00 to $160.00 in a research report on Monday, November 27th. Finally, KeyCorp increased their target price on AMETEK from $176.00 to $182.00 and gave the stock an “overweight” rating in a report on Wednesday. Four research analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $174.25.

Get Our Latest Stock Analysis on AMETEK

Insider Buying and Selling at AMETEK

In other AMETEK news, Director Steven W. Kohlhagen sold 810 shares of the company’s stock in a transaction on Tuesday, November 14th. The shares were sold at an average price of $155.09, for a total transaction of $125,622.90. Following the completion of the sale, the director now owns 29,454 shares in the company, valued at approximately $4,568,020.86. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 0.72% of the company’s stock.

AMETEK Stock Up 1.3 %

Shares of AME opened at $168.50 on Friday. The business’s fifty day moving average price is $162.94 and its two-hundred day moving average price is $156.04. The firm has a market capitalization of $38.89 billion, a price-to-earnings ratio of 29.72, a PEG ratio of 2.65 and a beta of 1.21. AMETEK, Inc. has a 52 week low of $131.52 and a 52 week high of $168.63. The company has a debt-to-equity ratio of 0.22, a quick ratio of 1.21 and a current ratio of 0.98.

AMETEK (NYSE:AMEGet Free Report) last posted its quarterly earnings results on Tuesday, February 6th. The technology company reported $1.68 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.62 by $0.06. The business had revenue of $1.73 billion for the quarter, compared to analysts’ expectations of $1.73 billion. AMETEK had a return on equity of 17.96% and a net margin of 19.91%. The firm’s quarterly revenue was up 6.1% compared to the same quarter last year. During the same quarter last year, the business earned $1.52 earnings per share. On average, analysts predict that AMETEK, Inc. will post 6.84 earnings per share for the current year.

AMETEK Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, March 28th. Investors of record on Friday, March 8th will be paid a dividend of $0.28 per share. This represents a $1.12 dividend on an annualized basis and a dividend yield of 0.66%. This is an increase from AMETEK’s previous quarterly dividend of $0.25. The ex-dividend date of this dividend is Thursday, March 7th. AMETEK’s payout ratio is 17.64%.

AMETEK Company Profile

(Free Report)

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.

See Also

Institutional Ownership by Quarter for AMETEK (NYSE:AME)

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