Moors & Cabot Inc. Buys 539 Shares of AMETEK, Inc. (NYSE:AME)

Moors & Cabot Inc. increased its holdings in shares of AMETEK, Inc. (NYSE:AME) by 2.9% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 18,861 shares of the technology company’s stock after purchasing an additional 539 shares during the quarter. Moors & Cabot Inc.’s holdings in AMETEK were worth $3,239,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in AME. Family Firm Inc. purchased a new position in shares of AMETEK in the 2nd quarter valued at $39,000. Industrial Alliance Investment Management Inc. acquired a new position in shares of AMETEK in the 2nd quarter valued at about $42,000. Princeton Global Asset Management LLC acquired a new position in AMETEK in the 3rd quarter worth about $44,000. Crewe Advisors LLC raised its holdings in AMETEK by 168.8% in the 2nd quarter. Crewe Advisors LLC now owns 293 shares of the technology company’s stock worth $49,000 after purchasing an additional 184 shares during the period. Finally, First Command Advisory Services Inc. acquired a new position in AMETEK in the 2nd quarter worth about $50,000. Hedge funds and other institutional investors own 87.43% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have recently issued reports on AME. Mizuho upped their price target on AMETEK from $190.00 to $200.00 and gave the company an “outperform” rating in a research report on Friday, November 1st. Truist Financial upped their price target on AMETEK from $219.00 to $221.00 and gave the stock a “buy” rating in a research note on Friday, November 1st. StockNews.com cut AMETEK from a “buy” rating to a “hold” rating in a research note on Friday, November 15th. TD Cowen lowered AMETEK from a “hold” rating to a “sell” rating in a report on Monday, October 7th. Finally, Wolfe Research raised AMETEK to a “hold” rating in a report on Wednesday, September 18th. One research analyst has rated the stock with a sell rating, three have given a hold rating, five have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $197.86.

Insiders Place Their Bets

In related news, Director Steven W. Kohlhagen sold 1,460 shares of the firm’s stock in a transaction that occurred on 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 owns 23,349 shares of the company’s stock, valued at $4,006,454.91. This trade represents a 5.88 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider David F. Hermance sold 6,243 shares of the firm’s stock in a transaction on Friday, November 8th. The stock was sold at an average price of $190.99, for a total value of $1,192,350.57. Following the completion of the transaction, the insider now owns 36,731 shares in the company, valued at approximately $7,015,253.69. This trade represents a 14.53 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 0.61% of the company’s stock.

AMETEK Stock Down 0.1 %

Shares of NYSE AME opened at $193.33 on Thursday. The stock’s fifty day moving average is $175.30 and its 200 day moving average is $170.32. The stock has a market capitalization of $44.72 billion, a P/E ratio of 33.68, a PEG ratio of 3.15 and a beta of 1.16. The company has a debt-to-equity ratio of 0.18, a quick ratio of 0.84 and a current ratio of 1.39. AMETEK, Inc. has a 52 week low of $149.03 and a 52 week high of $196.70.

AMETEK (NYSE:AME) last issued its earnings results on Thursday, October 31st. The technology company reported $1.66 earnings per share for the quarter, topping analysts’ consensus estimates of $1.62 by $0.04. AMETEK had a return on equity of 16.88% and a net margin of 19.27%. The business had revenue of $1.71 billion during the quarter, compared to the consensus estimate of $1.71 billion. During the same period in the previous year, the company posted $1.64 earnings per share. The firm’s revenue for the quarter was up 5.3% on a year-over-year basis. Sell-side analysts forecast that AMETEK, Inc. will post 6.81 earnings per share for the current fiscal year.

AMETEK Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 20th. Investors of record on Friday, December 6th will be paid a dividend of $0.28 per share. The ex-dividend date of this dividend is Friday, December 6th. This represents a $1.12 dividend on an annualized basis and a dividend yield of 0.58%. AMETEK’s payout ratio is 19.51%.

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.