Wasatch Advisors LP Acquires 117 Shares of AMETEK, Inc. (NYSE:AME)

Wasatch Advisors LP boosted its holdings in shares of AMETEK, Inc. (NYSE:AME) by 1.9% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 6,244 shares of the technology company’s stock after acquiring an additional 117 shares during the period. Wasatch Advisors LP’s holdings in AMETEK were worth $1,142,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in AME. Norges Bank bought a new position in AMETEK during the 4th quarter worth about $589,098,000. Morgan Stanley boosted its holdings in shares of AMETEK by 19.2% in the 3rd quarter. Morgan Stanley now owns 4,189,108 shares of the technology company’s stock valued at $618,983,000 after buying an additional 674,549 shares in the last quarter. Bank Julius Baer & Co. Ltd Zurich boosted its holdings in shares of AMETEK by 4,845.8% in the 4th quarter. Bank Julius Baer & Co. Ltd Zurich now owns 677,075 shares of the technology company’s stock valued at $111,643,000 after buying an additional 663,385 shares in the last quarter. Maren Capital LLC bought a new stake in shares of AMETEK in the 4th quarter valued at about $64,284,000. Finally, The Manufacturers Life Insurance Company boosted its holdings in shares of AMETEK by 52.9% in the 3rd quarter. The Manufacturers Life Insurance Company now owns 1,032,796 shares of the technology company’s stock valued at $152,606,000 after buying an additional 357,212 shares in the last quarter. 87.43% of the stock is currently owned by institutional investors.

Insider Activity

In other news, Director Steven W. Kohlhagen sold 1,440 shares of AMETEK stock in a transaction that occurred on Wednesday, June 12th. The shares were sold at an average price of $173.93, for a total transaction of $250,459.20. Following the completion of the transaction, the director now directly owns 24,809 shares of the company’s stock, valued at approximately $4,315,029.37. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In other news, Director Steven W. Kohlhagen sold 1,440 shares of AMETEK stock in a transaction that occurred on Wednesday, June 12th. The shares were sold at an average price of $173.93, for a total transaction of $250,459.20. Following the completion of the transaction, the director now directly owns 24,809 shares of the company’s stock, valued at approximately $4,315,029.37. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Steven W. Kohlhagen sold 1,470 shares of AMETEK stock in a transaction on Wednesday, May 15th. The shares were sold at an average price of $170.20, for a total transaction of $250,194.00. Following the completion of the sale, the director now directly owns 26,249 shares in the company, valued at approximately $4,467,579.80. The disclosure for this sale can be found here. Insiders own 0.61% of the company’s stock.

Analyst Ratings Changes

A number of research firms have recently weighed in on AME. Robert W. Baird lowered their price target on shares of AMETEK from $173.00 to $171.00 and set a “neutral” rating on the stock in a report on Monday, May 6th. StockNews.com cut shares of AMETEK from a “buy” rating to a “hold” rating in a report on Tuesday, June 18th. Truist Financial decreased their price objective on shares of AMETEK from $210.00 to $204.00 and set a “buy” rating for the company in a research report on Tuesday. Finally, Oppenheimer raised shares of AMETEK from a “market perform” rating to an “outperform” rating and set a $200.00 price objective for the company in a research report on Wednesday, May 22nd. Four investment analysts have rated the stock with a hold rating and eight have given a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $181.20.

AMETEK Stock Performance

AME traded up $0.53 during trading on Tuesday, reaching $166.10. 703,315 shares of the company’s stock were exchanged, compared to its average volume of 1,056,027. AMETEK, Inc. has a 1 year low of $136.89 and a 1 year high of $186.32. The company has a debt-to-equity ratio of 0.21, a current ratio of 1.11 and a quick ratio of 0.66. The stock has a market capitalization of $38.45 billion, a P/E ratio of 29.25, a price-to-earnings-growth ratio of 2.67 and a beta of 1.18. The company’s fifty day simple moving average is $170.36 and its 200-day simple moving average is $171.75.

AMETEK (NYSE:AME) last posted its quarterly earnings results on Thursday, May 2nd. The technology company reported $1.64 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.59 by $0.05. AMETEK had a net margin of 19.57% and a return on equity of 17.74%. The company had revenue of $1.74 billion during the quarter, compared to analyst estimates of $1.78 billion. During the same period last year, the firm posted $1.49 EPS. AMETEK’s revenue for the quarter was up 9.0% compared to the same quarter last year. As a group, research analysts predict that AMETEK, Inc. will post 6.83 earnings per share for the current fiscal year.

AMETEK Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, June 28th. Stockholders of record on Friday, June 14th were issued a dividend of $0.28 per share. This represents a $1.12 annualized dividend and a dividend yield of 0.67%. The ex-dividend date of this dividend was Friday, June 14th. AMETEK’s dividend payout ratio (DPR) is 19.68%.

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.