Kestra Private Wealth Services LLC Purchases 223 Shares of AMETEK, Inc. (NYSE:AME)

Kestra Private Wealth Services LLC raised its position in AMETEK, Inc. (NYSE:AME) by 6.1% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 3,860 shares of the technology company’s stock after purchasing an additional 223 shares during the quarter. Kestra Private Wealth Services LLC’s holdings in AMETEK were worth $636,000 as of its most recent SEC filing.

A number of other hedge funds have also recently made changes to their positions in AME. Giverny Capital Inc. raised its holdings in AMETEK by 0.5% in the 3rd quarter. Giverny Capital Inc. now owns 897,056 shares of the technology company’s stock valued at $132,549,000 after buying an additional 4,556 shares during the last quarter. Pacer Advisors Inc. grew its stake in shares of AMETEK by 161.0% in the fourth quarter. Pacer Advisors Inc. now owns 44,684 shares of the technology company’s stock worth $7,368,000 after purchasing an additional 27,562 shares during the last quarter. Tyche Wealth Partners LLC acquired a new stake in AMETEK in the fourth quarter valued at $6,275,000. Whittier Trust Co. raised its position in AMETEK by 9.0% during the 3rd quarter. Whittier Trust Co. now owns 3,117 shares of the technology company’s stock worth $461,000 after purchasing an additional 258 shares during the last quarter. Finally, PFG Advisors lifted its holdings in AMETEK by 208.1% during the 4th quarter. PFG Advisors now owns 21,376 shares of the technology company’s stock worth $3,525,000 after buying an additional 14,439 shares during the period. 87.43% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research analysts have recently issued reports on the stock. StockNews.com downgraded shares of AMETEK from a “buy” rating to a “hold” rating in a research report on Saturday, March 2nd. KeyCorp increased their price target on AMETEK from $182.00 to $205.00 and gave the stock an “overweight” rating in a report on Tuesday, February 27th. Truist Financial started coverage on shares of AMETEK in a research report on Thursday, March 14th. They set a “buy” rating and a $210.00 target price on the stock. Finally, Royal Bank of Canada reduced their price target on shares of AMETEK from $192.00 to $188.00 and set an “outperform” rating for the company in a report on Wednesday, February 7th. Three research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $180.78.

AMETEK Stock Performance

AME opened at $166.56 on Monday. AMETEK, Inc. has a 1-year low of $136.89 and a 1-year high of $186.32. The company has a market cap of $38.51 billion, a price-to-earnings ratio of 29.27, a PEG ratio of 2.66 and a beta of 1.21. The company’s fifty day moving average price is $179.64 and its two-hundred day moving average price is $166.32. The company has a current ratio of 1.11, a quick ratio of 0.59 and a debt-to-equity ratio of 0.21.

AMETEK (NYSE:AME) last posted its earnings results on Thursday, May 2nd. The technology company reported $1.64 earnings per share for the quarter, topping analysts’ consensus estimates of $1.59 by $0.05. The company had revenue of $1.74 billion for the quarter, compared to analyst estimates of $1.78 billion. AMETEK had a net margin of 19.57% and a return on equity of 17.74%. The firm’s revenue was up 9.0% compared to the same quarter last year. During the same quarter in the prior year, the business posted $1.49 EPS. On average, analysts expect that AMETEK, Inc. will post 6.81 EPS for the current fiscal year.

AMETEK Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, March 28th. Investors of record on Friday, March 8th were issued a dividend of $0.28 per share. The ex-dividend date of this dividend was Thursday, March 7th. This represents a $1.12 annualized dividend and a yield of 0.67%. This is an increase from AMETEK’s previous quarterly dividend of $0.25. AMETEK’s dividend payout ratio is 19.68%.

Insider Activity at AMETEK

In other AMETEK news, CFO William Joseph Burke sold 5,973 shares of AMETEK stock in a transaction on Monday, February 12th. The shares were sold at an average price of $168.90, for a total transaction of $1,008,839.70. Following the transaction, the chief financial officer now directly owns 101,709 shares of the company’s stock, valued at approximately $17,178,650.10. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In other AMETEK news, VP Thomas M. Montgomery sold 6,891 shares of the business’s stock in a transaction on Thursday, March 21st. The stock was sold at an average price of $185.38, for a total value of $1,277,453.58. Following the transaction, the vice president now owns 21,543 shares of the company’s stock, valued at $3,993,641.34. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CFO William Joseph Burke sold 5,973 shares of the firm’s stock in a transaction on Monday, February 12th. The shares were sold at an average price of $168.90, for a total value of $1,008,839.70. Following the sale, the chief financial officer now directly owns 101,709 shares of the company’s stock, valued at $17,178,650.10. The disclosure for this sale can be found here. In the last three months, insiders sold 59,881 shares of company stock valued at $10,689,758. 0.61% of the stock is owned by insiders.

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.