Kingswood Wealth Advisors LLC Takes $309,000 Position in AMETEK, Inc. (NYSE:AME)

Kingswood Wealth Advisors LLC acquired a new stake in AMETEK, Inc. (NYSE:AME) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 1,874 shares of the technology company’s stock, valued at approximately $309,000.

Several other large investors have also made changes to their positions in AME. Bruce G. Allen Investments LLC purchased a new stake in shares of AMETEK in the 4th quarter valued at $28,000. Covestor Ltd boosted its holdings in shares of AMETEK by 84.3% in the 1st quarter. Covestor Ltd now owns 212 shares of the technology company’s stock valued at $28,000 after acquiring an additional 97 shares during the last quarter. Resurgent Financial Advisors LLC purchased a new stake in shares of AMETEK in the 4th quarter valued at $28,000. Quarry LP purchased a new stake in shares of AMETEK in the 1st quarter valued at $35,000. Finally, Mascoma Wealth Management LLC acquired a new position in shares of AMETEK in the 3rd quarter valued at $36,000. 87.43% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

AME has been the subject of several analyst reports. Truist Financial initiated coverage on shares of AMETEK in a research note on Thursday, March 14th. They issued a “buy” rating and a $210.00 target price for the company. KeyCorp boosted their target price on shares of AMETEK from $182.00 to $205.00 and gave the company an “overweight” rating in a research note on Tuesday, February 27th. StockNews.com cut shares of AMETEK from a “buy” rating to a “hold” rating in a research note on Saturday, March 2nd. Finally, Royal Bank of Canada decreased their target price on shares of AMETEK from $192.00 to $188.00 and set an “outperform” rating for the company in a research note on Wednesday, February 7th. Three analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $180.78.

Insider Activity

In related news, CFO William Joseph Burke sold 17,437 shares of the company’s stock in a transaction dated Wednesday, February 14th. The shares were sold at an average price of $168.51, for a total value of $2,938,308.87. Following the completion of the sale, the chief financial officer now owns 101,709 shares of the company’s stock, valued at $17,138,983.59. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, Director Thomas A. Amato sold 780 shares of the stock in a transaction dated Tuesday, March 26th. The shares were sold at an average price of $182.00, for a total transaction of $141,960.00. Following the sale, the director now owns 10,240 shares of the company’s stock, valued at $1,863,680. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO William Joseph Burke sold 17,437 shares of the stock in a transaction dated Wednesday, February 14th. The stock was sold at an average price of $168.51, for a total transaction of $2,938,308.87. Following the sale, the chief financial officer now directly owns 101,709 shares in the company, valued at approximately $17,138,983.59. The disclosure for this sale can be found here. Insiders sold 59,881 shares of company stock worth $10,689,758 over the last three months. Insiders own 0.61% of the company’s stock.

AMETEK Stock Performance

NYSE:AME opened at $182.80 on Friday. The company has a debt-to-equity ratio of 0.22, a quick ratio of 0.59 and a current ratio of 0.98. The company has a fifty day moving average of $174.28 and a two-hundred day moving average of $160.97. The stock has a market capitalization of $42.27 billion, a PE ratio of 32.24, a P/E/G ratio of 2.90 and a beta of 1.22. AMETEK, Inc. has a fifty-two week low of $133.12 and a fifty-two week high of $186.32.

AMETEK (NYSE:AME) last issued its earnings results on Tuesday, February 6th. The technology company reported $1.68 EPS for the quarter, beating analysts’ consensus estimates of $1.62 by $0.06. The business had revenue of $1.73 billion during the quarter, compared to analysts’ expectations of $1.73 billion. AMETEK had a net margin of 19.91% and a return on equity of 17.96%. The company’s quarterly revenue was up 6.1% compared to the same quarter last year. During the same period in the prior year, the business earned $1.52 earnings per share. As a group, research analysts forecast that AMETEK, Inc. will post 6.82 earnings per share for the current fiscal year.

AMETEK Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, March 28th. Stockholders of record on Friday, March 8th were given a $0.28 dividend. This represents a $1.12 dividend on an annualized basis and a dividend yield of 0.61%. This is a boost from AMETEK’s previous quarterly dividend of $0.25. The ex-dividend date was Thursday, March 7th. AMETEK’s dividend payout ratio is 19.75%.

About AMETEK

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.