Empirical Financial Services LLC d.b.a. Empirical Wealth Management Buys Shares of 1,446 AMETEK, Inc. (NYSE:AME)

Empirical Financial Services LLC d.b.a. Empirical Wealth Management bought a new position in AMETEK, Inc. (NYSE:AME) during the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The firm bought 1,446 shares of the technology company’s stock, valued at approximately $238,000.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. M&T Bank Corp lifted its holdings in AMETEK by 0.5% during the fourth quarter. M&T Bank Corp now owns 15,442 shares of the technology company’s stock worth $2,547,000 after acquiring an additional 73 shares in the last quarter. Provence Wealth Management Group raised its position in shares of AMETEK by 5.5% during the fourth quarter. Provence Wealth Management Group now owns 1,435 shares of the technology company’s stock worth $237,000 after purchasing an additional 75 shares during the period. Metis Global Partners LLC lifted its holdings in shares of AMETEK by 0.5% during the 4th quarter. Metis Global Partners LLC now owns 15,934 shares of the technology company’s stock valued at $2,627,000 after purchasing an additional 82 shares in the last quarter. Lincoln National Corp grew its position in shares of AMETEK by 6.1% in the 3rd quarter. Lincoln National Corp now owns 1,436 shares of the technology company’s stock valued at $212,000 after purchasing an additional 83 shares during the period. Finally, B. Riley Wealth Advisors Inc. increased its stake in AMETEK by 4.6% during the 3rd quarter. B. Riley Wealth Advisors Inc. now owns 1,919 shares of the technology company’s stock worth $284,000 after purchasing an additional 85 shares in the last quarter. 87.43% of the stock is owned by institutional investors.

Insider Activity

In other AMETEK news, CFO William Joseph Burke sold 5,973 shares of the business’s stock in a transaction that occurred on Monday, February 12th. The stock was 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 owns 101,709 shares of the company’s stock, valued at $17,178,650.10. The sale was disclosed in a document filed with the SEC, which is available through this link. In other AMETEK news, Director Thomas A. Amato sold 780 shares of the firm’s stock in a transaction on Tuesday, March 26th. The stock was sold at an average price of $182.00, for a total transaction of $141,960.00. Following the completion of the sale, the director now owns 10,240 shares of the company’s stock, valued at approximately $1,863,680. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO William Joseph Burke sold 5,973 shares of the stock in a transaction dated 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 completion of the transaction, the chief financial officer now directly owns 101,709 shares in the company, valued at $17,178,650.10. The disclosure for this sale can be found here. Insiders sold a total of 59,881 shares of company stock valued at $10,689,758 in the last quarter. Company insiders own 0.61% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have weighed in on AME shares. KeyCorp lifted their price target 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. Royal Bank of Canada cut their price objective on shares of AMETEK from $192.00 to $188.00 and set an “outperform” rating on the stock in a research report on Wednesday, February 7th. Robert W. Baird lowered their target price on AMETEK from $173.00 to $171.00 and set a “neutral” rating for the company in a report on Monday. StockNews.com downgraded AMETEK from a “buy” rating to a “hold” rating in a research note on Saturday, March 2nd. Finally, Truist Financial began coverage on AMETEK in a research report on Thursday, March 14th. They set a “buy” rating and a $210.00 price objective for the company. Four research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. According to MarketBeat, AMETEK currently has an average rating of “Moderate Buy” and a consensus price target of $179.80.

AMETEK Stock Performance

AME opened at $169.90 on Friday. The business’s 50-day simple moving average is $179.07 and its 200 day simple moving average is $166.70. AMETEK, Inc. has a 52-week low of $136.89 and a 52-week high of $186.32. The company has a debt-to-equity ratio of 0.21, a quick ratio of 0.66 and a current ratio of 1.11. The firm has a market capitalization of $39.33 billion, a PE ratio of 29.86, a PEG ratio of 2.66 and a beta of 1.21.

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

AMETEK Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, June 28th. Shareholders of record on Friday, June 14th will be paid a $0.28 dividend. This represents a $1.12 dividend on an annualized basis and a yield of 0.66%. AMETEK’s dividend payout ratio is currently 19.68%.

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.