Wedmont Private Capital Increases Stock Position in AMETEK, Inc. (NYSE:AME)

Wedmont Private Capital boosted its holdings in shares of AMETEK, Inc. (NYSE:AME) by 7.5% during the 1st quarter, HoldingsChannel reports. The firm owned 4,061 shares of the technology company’s stock after purchasing an additional 284 shares during the period. Wedmont Private Capital’s holdings in AMETEK were worth $646,000 as of its most recent filing with the SEC.

A number of other institutional investors also recently bought and sold shares of the business. Kensington Investment Counsel LLC increased its holdings in shares of AMETEK by 0.5% in the fourth quarter. Kensington Investment Counsel LLC now owns 14,277 shares of the technology company’s stock valued at $2,574,000 after purchasing an additional 66 shares during the period. Quotient Wealth Partners LLC raised its position in AMETEK by 3.9% during the 4th quarter. Quotient Wealth Partners LLC now owns 1,843 shares of the technology company’s stock worth $332,000 after buying an additional 70 shares during the last quarter. Howard Capital Management Inc. lifted its stake in shares of AMETEK by 5.0% in the 4th quarter. Howard Capital Management Inc. now owns 1,501 shares of the technology company’s stock worth $271,000 after acquiring an additional 72 shares during the period. Level Four Advisory Services LLC boosted its holdings in shares of AMETEK by 3.1% in the fourth quarter. Level Four Advisory Services LLC now owns 2,624 shares of the technology company’s stock valued at $473,000 after acquiring an additional 80 shares in the last quarter. Finally, Fifth Third Wealth Advisors LLC increased its stake in shares of AMETEK by 3.8% during the first quarter. Fifth Third Wealth Advisors LLC now owns 2,218 shares of the technology company’s stock worth $382,000 after acquiring an additional 82 shares during the period. 87.43% of the stock is currently owned by institutional investors and hedge funds.

AMETEK Trading Up 0.2%

AME opened at $178.64 on Tuesday. The stock 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. The company has a debt-to-equity ratio of 0.15, a current ratio of 1.24 and a quick ratio of 0.75. AMETEK, Inc. has a 12-month low of $145.02 and a 12-month high of $198.33. The firm’s fifty day moving average price is $169.34 and its 200 day moving average price is $178.55.

AMETEK (NYSE:AME) last issued its earnings results on Thursday, May 1st. The technology company reported $1.75 earnings per share (EPS) 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 analyst estimates of $1.74 billion. AMETEK had a net margin of 19.83% and a return on equity of 16.94%. The company’s revenue for the quarter was down .2% on a year-over-year basis. During the same quarter in the prior year, the business posted $1.64 EPS. As a group, research analysts expect that AMETEK, Inc. will post 7.15 EPS for the current fiscal year.

AMETEK Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, June 30th. Stockholders of record on Friday, June 13th will be issued 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 (DPR) is 20.29%.

Insider Activity at AMETEK

In other AMETEK news, Director Thomas A. Amato sold 710 shares of the business’s stock in a transaction on Thursday, March 27th. The shares were sold at an average price of $176.64, for a total transaction of $125,414.40. Following the completion of the sale, the director now owns 10,560 shares in the company, valued at $1,865,318.40. The trade was a 6.30% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 0.57% of the company’s stock.

Analyst Ratings Changes

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

AMETEK Company Profile

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.