Miracle Mile Advisors LLC Acquires 890 Shares of AMETEK, Inc. (NYSE:AME)

Miracle Mile Advisors LLC lifted its position in AMETEK, Inc. (NYSE:AME) by 12.3% during the 1st quarter, Holdings Channel reports. The firm owned 8,104 shares of the technology company’s stock after buying an additional 890 shares during the quarter. Miracle Mile Advisors LLC’s holdings in AMETEK were worth $1,395,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in the company. National Bank of Canada FI boosted its stake in AMETEK by 17.4% in the fourth quarter. National Bank of Canada FI now owns 142,093 shares of the technology company’s stock worth $25,616,000 after purchasing an additional 21,009 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in shares of AMETEK by 16.5% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 88,898 shares of the technology company’s stock valued at $16,025,000 after buying an additional 12,584 shares during the last quarter. Fox Run Management L.L.C. lifted its position in AMETEK by 74.1% during the 4th quarter. Fox Run Management L.L.C. now owns 8,418 shares of the technology company’s stock worth $1,517,000 after buying an additional 3,584 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its holdings in AMETEK by 7.6% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,512,437 shares of the technology company’s stock worth $272,632,000 after acquiring an additional 107,303 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. grew its holdings in AMETEK by 3.1% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,331,567 shares of the technology company’s stock worth $240,028,000 after acquiring an additional 39,918 shares during the last quarter. Institutional investors and hedge funds own 87.43% of the company’s stock.

Analyst Ratings Changes

Several research firms have weighed in on AME. Truist Financial raised their price objective on shares of AMETEK from $196.00 to $200.00 and gave the company a “buy” rating in a research report on Monday, May 5th. Mizuho set a $212.00 price objective on shares of AMETEK in a research report on Friday, May 16th. Wall Street Zen upgraded shares of AMETEK from a “hold” rating to a “buy” rating in a research report on Monday, May 12th. Robert W. Baird lowered their price objective on shares of AMETEK from $197.00 to $190.00 and set a “neutral” rating for the company in a research report on Wednesday, May 7th. Finally, Morgan Stanley started coverage on shares of AMETEK in a research report on Monday, April 14th. They set an “equal weight” rating and a $170.00 target price on the stock. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating, seven have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $197.89.

AMETEK Price Performance

AME opened at $178.64 on Tuesday. The company has a fifty day moving average price of $169.34 and a two-hundred day moving average price of $178.55. The company has a debt-to-equity ratio of 0.15, a quick ratio of 0.75 and a current ratio of 1.24. AMETEK, Inc. has a 52 week low of $145.02 and a 52 week high of $198.33. The firm has a market capitalization of $41.24 billion, a PE ratio of 30.12, a P/E/G ratio of 2.73 and a beta of 1.10.

AMETEK (NYSE:AME) last announced its quarterly earnings results on Thursday, May 1st. The technology company reported $1.75 earnings per share for the quarter, beating analysts’ consensus estimates of $1.69 by $0.06. The business had revenue of $1.73 billion for the quarter, compared to the consensus estimate of $1.74 billion. AMETEK had a net margin of 19.83% and a return on equity of 16.94%. AMETEK’s revenue for the quarter was down .2% on a year-over-year basis. During the same period last year, the company posted $1.64 EPS. As a group, analysts anticipate that AMETEK, Inc. will post 7.15 earnings per share for the current year.

AMETEK Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, June 30th. Investors of record on Friday, June 13th will be given a $0.31 dividend. The ex-dividend date is Friday, June 13th. This represents a $1.24 dividend on an annualized basis and a dividend yield of 0.69%. AMETEK’s dividend payout ratio is 20.29%.

Insider Activity at AMETEK

In related news, Director Thomas A. Amato sold 710 shares of the stock in a transaction that occurred on Thursday, March 27th. The shares were sold at an average price of $176.64, for a total value of $125,414.40. Following the sale, the director now directly owns 10,560 shares in the company, valued at $1,865,318.40. This trade represents a 6.30% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. 0.57% of the stock is currently owned by corporate 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.