Price T Rowe Associates Inc. MD Increases Stock Holdings in AMETEK, Inc. (NYSE:AME)

Price T Rowe Associates Inc. MD increased its holdings in shares of AMETEK, Inc. (NYSE:AME) by 0.7% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 6,536,231 shares of the technology company’s stock after buying an additional 44,899 shares during the period. Price T Rowe Associates Inc. MD owned about 2.82% of AMETEK worth $1,195,478,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. McGlone Suttner Wealth Management Inc. acquired a new position in AMETEK in the 4th quarter valued at $25,000. Wetzel Investment Advisors Inc. acquired a new position in AMETEK in the 4th quarter valued at $25,000. Turtle Creek Wealth Advisors LLC acquired a new position in AMETEK in the 4th quarter valued at $26,000. Rakuten Securities Inc. acquired a new position in AMETEK in the 4th quarter valued at $31,000. Finally, Washington Trust Advisors Inc. acquired a new position in AMETEK in the 1st quarter valued at $37,000. Hedge funds and other institutional investors own 87.43% of the company’s stock.

AMETEK Trading Up 2.2 %

Shares of NYSE:AME traded up $3.75 during midday trading on Friday, reaching $172.27. 864,601 shares of the company’s stock were exchanged, compared to its average volume of 996,840. The firm’s 50 day simple moving average is $169.46 and its two-hundred day simple moving average is $172.48. AMETEK, Inc. has a fifty-two week low of $136.89 and a fifty-two week high of $186.32. The stock has a market cap of $39.88 billion, a price-to-earnings ratio of 30.28, a P/E/G ratio of 2.77 and a beta of 1.18. The company has a debt-to-equity ratio of 0.21, a current ratio of 1.11 and a quick ratio of 0.66.

AMETEK (NYSE:AME) last announced its earnings results on Thursday, May 2nd. The technology company reported $1.64 EPS for the quarter, beating analysts’ consensus estimates of $1.59 by $0.05. AMETEK had a return on equity of 17.74% and a net margin of 19.57%. The company had revenue of $1.74 billion during the quarter, compared to analysts’ expectations of $1.78 billion. During the same period last 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, sell-side analysts forecast that AMETEK, Inc. will post 6.81 EPS for the current fiscal year.

AMETEK Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, June 28th. Investors of record on Friday, June 14th were issued a dividend of $0.28 per share. This represents a $1.12 dividend on an annualized basis and a yield of 0.65%. The ex-dividend date was Friday, June 14th. AMETEK’s dividend payout ratio (DPR) is 19.68%.

Analysts Set New Price Targets

Several research analysts recently commented on AME shares. Truist Financial reduced 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. Robert W. Baird cut 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. StockNews.com downgraded AMETEK from a “buy” rating to a “hold” rating in a research note on Tuesday, June 18th. Finally, Oppenheimer raised AMETEK from a “market perform” rating to an “outperform” rating and set a $200.00 target price for the company in a research note on Wednesday, May 22nd. Four research 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 stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $181.20.

Insider Activity at AMETEK

In related news, Director Steven W. Kohlhagen sold 1,470 shares of the firm’s stock in a transaction dated 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 directly owns 26,249 shares in the company, valued at approximately $4,467,579.80. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, Director Steven W. Kohlhagen sold 1,470 shares of AMETEK stock in a transaction dated Wednesday, May 15th. The stock was 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 in the company, valued at approximately $4,467,579.80. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Steven W. Kohlhagen sold 1,440 shares of AMETEK stock in a transaction dated Wednesday, June 12th. The shares were 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 of the company’s stock, valued at approximately $4,315,029.37. The disclosure for this sale can be found here. 0.61% of the stock is currently owned by company insiders.

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.