Vanguard Group Inc. Increases Stock Position in AMETEK, Inc. (NYSE:AME)

Vanguard Group Inc. grew its stake in AMETEK, Inc. (NYSE:AME) by 0.2% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 25,639,693 shares of the technology company’s stock after buying an additional 61,423 shares during the period. Vanguard Group Inc. owned approximately 0.11% of AMETEK worth $4,689,500,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently made changes to their positions in AME. McGlone Suttner Wealth Management Inc. bought a new position in AMETEK in the fourth quarter valued at $25,000. Wetzel Investment Advisors Inc. purchased a new position in shares of AMETEK during the 4th quarter valued at about $25,000. Turtle Creek Wealth Advisors LLC bought a new stake in AMETEK in the 4th quarter worth approximately $26,000. Bruce G. Allen Investments LLC purchased a new stake in AMETEK in the fourth quarter worth approximately $28,000. Finally, Rakuten Securities Inc. bought a new position in AMETEK during the fourth quarter valued at approximately $31,000. Hedge funds and other institutional investors own 87.43% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have recently weighed in on AME. Oppenheimer upgraded shares of AMETEK from a “market perform” rating to an “outperform” rating and set a $200.00 price objective for the company in a report on Wednesday, May 22nd. StockNews.com lowered shares of AMETEK from a “buy” rating to a “hold” rating in a research report on Tuesday, June 18th. Truist Financial decreased their price objective on AMETEK from $210.00 to $204.00 and set a “buy” rating on the stock in a report on Tuesday, July 2nd. Finally, Robert W. Baird dropped their target price on AMETEK from $173.00 to $171.00 and set a “neutral” rating for the company in a report on Monday, May 6th. Four analysts have rated the stock with a hold rating and eight have given a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $181.20.

Insider Activity at AMETEK

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

AMETEK Trading Down 1.5 %

Shares of AMETEK stock traded down $2.57 during midday trading on Friday, reaching $169.16. 886,993 shares of the company’s stock traded hands, compared to its average volume of 1,057,747. The stock has a 50 day moving average of $169.26 and a 200-day moving average of $172.16. AMETEK, Inc. has a 12 month low of $136.89 and a 12 month high of $186.32. The company has a market cap of $39.16 billion, a PE ratio of 29.73, a price-to-earnings-growth ratio of 2.72 and a beta of 1.18. The company has a debt-to-equity ratio of 0.21, a quick ratio of 0.66 and a current ratio of 1.11.

AMETEK (NYSE:AME) last posted its earnings results on Thursday, May 2nd. The technology company reported $1.64 EPS for the quarter, topping the consensus estimate of $1.59 by $0.05. AMETEK had a net margin of 19.57% and a return on equity of 17.74%. The firm had revenue of $1.74 billion during the quarter, compared to analysts’ expectations of $1.78 billion. During the same period last year, the company posted $1.49 EPS. The company’s quarterly revenue was up 9.0% compared to the same quarter last year. As a group, equities analysts expect that AMETEK, Inc. will post 6.81 EPS 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 paid a $0.28 dividend. This represents a $1.12 dividend on an annualized basis and a dividend yield of 0.66%. The ex-dividend date of this dividend was Friday, June 14th. AMETEK’s payout ratio is presently 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.