Duality Advisers LP Takes Position in AMETEK, Inc. (NYSE:AME)

Duality Advisers LP acquired a new stake in AMETEK, Inc. (NYSE:AME) in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor acquired 9,162 shares of the technology company’s stock, valued at approximately $1,676,000.

Several other hedge funds also recently modified their holdings of AME. McGlone Suttner Wealth Management Inc. bought a new position in AMETEK in the fourth quarter worth $25,000. Wetzel Investment Advisors Inc. bought a new position in AMETEK in the fourth quarter worth $25,000. Turtle Creek Wealth Advisors LLC bought a new position in AMETEK in the fourth quarter worth $26,000. Bruce G. Allen Investments LLC acquired a new position in AMETEK during the fourth quarter worth $28,000. Finally, Rakuten Securities Inc. acquired a new position in AMETEK during the fourth quarter worth $31,000. 87.43% of the stock is owned by institutional investors.

Insider Activity

In related news, Director Steven W. Kohlhagen sold 1,470 shares of the firm’s stock in a transaction on Wednesday, May 15th. The shares were sold at an average price of $170.20, for a total value of $250,194.00. Following the completion of the transaction, the director now owns 26,249 shares of the company’s stock, valued at $4,467,579.80. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other AMETEK news, Director Steven W. Kohlhagen sold 1,440 shares of AMETEK stock in a transaction on Wednesday, June 12th. The shares were sold at an average price of $173.93, for a total value of $250,459.20. Following the sale, the director now directly owns 24,809 shares in the company, valued at approximately $4,315,029.37. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 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 owns 26,249 shares in the company, valued at $4,467,579.80. The disclosure for this sale can be found here. 0.61% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

Several research analysts have issued reports on AME shares. Truist Financial dropped their price objective on AMETEK from $210.00 to $204.00 and set a “buy” rating for the company in a research note on Tuesday, July 2nd. StockNews.com lowered AMETEK from a “buy” rating to a “hold” rating in a research note on Tuesday, June 18th. 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 research note on Monday, May 6th. Finally, Oppenheimer upgraded 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 analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $181.20.

AMETEK Trading Up 0.6 %

AME traded up $0.94 during midday trading on Friday, reaching $170.26. 493,343 shares of the company were exchanged, compared to its average volume of 1,054,251. AMETEK, Inc. has a one year low of $136.89 and a one year 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 stock has a market capitalization of $39.41 billion, a P/E ratio of 29.76, a PEG ratio of 2.66 and a beta of 1.18. The stock’s 50-day simple moving average is $168.87 and its 200 day simple moving average is $171.78.

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

AMETEK Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, June 28th. Stockholders of record on Friday, June 14th were paid a dividend of $0.28 per share. The ex-dividend date of this dividend was Friday, June 14th. This represents a $1.12 annualized dividend and a dividend 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.