FORA Capital LLC Buys 20,780 Shares of AMETEK, Inc. (NYSE:AME)

FORA Capital LLC raised its stake in shares of AMETEK, Inc. (NYSE:AME) by 395.1% during the 3rd quarter, HoldingsChannel.com reports. The firm owned 26,039 shares of the technology company’s stock after acquiring an additional 20,780 shares during the quarter. FORA Capital LLC’s holdings in AMETEK were worth $4,471,000 as of its most recent filing with the SEC.

Other large investors have also made changes to their positions in the company. B. Riley Wealth Advisors Inc. lifted its position in AMETEK by 42.6% in the first quarter. B. Riley Wealth Advisors Inc. now owns 1,919 shares of the technology company’s stock worth $351,000 after purchasing an additional 573 shares during the period. Tidal Investments LLC lifted its holdings in shares of AMETEK by 15.1% during the 1st quarter. Tidal Investments LLC now owns 4,930 shares of the technology company’s stock worth $902,000 after acquiring an additional 646 shares during the period. Comerica Bank boosted its position in shares of AMETEK by 0.4% during the 1st quarter. Comerica Bank now owns 74,825 shares of the technology company’s stock valued at $13,685,000 after acquiring an additional 314 shares in the last quarter. Plato Investment Management Ltd increased its stake in AMETEK by 29,554.5% in the first quarter. Plato Investment Management Ltd now owns 9,786 shares of the technology company’s stock valued at $1,790,000 after acquiring an additional 9,753 shares during the period. Finally, EdgePoint Investment Group Inc. raised its position in AMETEK by 1.1% in the first quarter. EdgePoint Investment Group Inc. now owns 945,183 shares of the technology company’s stock worth $172,874,000 after purchasing an additional 10,428 shares in the last quarter. Institutional investors and hedge funds own 87.43% of the company’s stock.

AMETEK Trading Down 0.4 %

Shares of AME stock traded down $0.72 on Wednesday, reaching $196.30. 70,582 shares of the stock were exchanged, compared to its average volume of 1,151,176. The company has a debt-to-equity ratio of 0.18, a current ratio of 1.39 and a quick ratio of 0.84. AMETEK, Inc. has a one year low of $149.03 and a one year high of $198.33. The stock has a market cap of $45.41 billion, a PE ratio of 34.29, a P/E/G ratio of 3.22 and a beta of 1.16. The stock has a 50 day moving average price of $177.61 and a 200 day moving average price of $171.09.

AMETEK (NYSE:AME) last released its earnings results on Thursday, October 31st. The technology company reported $1.66 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.62 by $0.04. The company had revenue of $1.71 billion for the quarter, compared to the consensus estimate of $1.71 billion. AMETEK had a net margin of 19.27% and a return on equity of 16.88%. The company’s revenue was up 5.3% compared to the same quarter last year. During the same period in the prior year, the company posted $1.64 EPS. Equities research analysts forecast that AMETEK, Inc. will post 6.8 EPS for the current fiscal year.

AMETEK Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, December 20th. Stockholders of record on Friday, December 6th will be given a $0.28 dividend. The ex-dividend date of this dividend is Friday, December 6th. This represents a $1.12 annualized dividend and a dividend yield of 0.57%. AMETEK’s dividend payout ratio is currently 19.51%.

Insider Buying and Selling

In other news, Director Steven W. Kohlhagen sold 1,460 shares of the business’s stock in a transaction dated Wednesday, September 25th. The stock was sold at an average price of $171.59, for a total transaction of $250,521.40. Following the completion of the transaction, the director now directly owns 23,349 shares in the company, valued at approximately $4,006,454.91. The trade was a 5.88 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Tony J. Ciampitti sold 16,210 shares of the stock in a transaction that occurred on Friday, November 22nd. The shares were sold at an average price of $197.01, for a total transaction of $3,193,532.10. Following the completion of the sale, the insider now owns 49,490 shares in the company, valued at $9,750,024.90. This represents a 24.67 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 23,913 shares of company stock valued at $4,636,404 over the last three months. Company insiders own 0.61% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on AME. KeyCorp increased their target price on AMETEK from $205.00 to $215.00 and gave the stock an “overweight” rating in a report on Friday, November 22nd. Mizuho lifted their price objective on AMETEK from $190.00 to $200.00 and gave the company an “outperform” rating in a report on Friday, November 1st. Truist Financial upped their target price on shares of AMETEK from $219.00 to $221.00 and gave the stock a “buy” rating in a report on Friday, November 1st. TD Cowen lowered shares of AMETEK from a “hold” rating to a “sell” rating in a research report on Monday, October 7th. Finally, Royal Bank of Canada dropped their price objective on shares of AMETEK from $216.00 to $215.00 and set an “outperform” rating for the company in a report on Friday, August 2nd. One investment analyst has rated the stock with a sell rating, three have issued a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $199.29.

AMETEK 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.