SeaCrest Wealth Management LLC Decreases Position in AMETEK, Inc. (NYSE:AME)

SeaCrest Wealth Management LLC decreased its position in AMETEK, Inc. (NYSE:AME) by 6.4% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 5,121 shares of the technology company’s stock after selling 350 shares during the period. SeaCrest Wealth Management LLC’s holdings in AMETEK were worth $879,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also bought and sold shares of AME. JPMorgan Chase & Co. lifted its position in shares of AMETEK by 48.4% during the 1st quarter. JPMorgan Chase & Co. now owns 7,075,565 shares of the technology company’s stock valued at $1,294,121,000 after buying an additional 2,306,535 shares during the last quarter. Bank of New York Mellon Corp lifted its holdings in AMETEK by 34.6% during the second quarter. Bank of New York Mellon Corp now owns 3,602,753 shares of the technology company’s stock valued at $600,615,000 after purchasing an additional 926,657 shares during the last quarter. Principal Financial Group Inc. boosted its position in AMETEK by 256.3% during the second quarter. Principal Financial Group Inc. now owns 976,808 shares of the technology company’s stock worth $162,844,000 after purchasing an additional 702,674 shares during the period. Dixon Mitchell Investment Counsel Inc. purchased a new position in shares of AMETEK in the first quarter worth about $46,343,000. Finally, Sei Investments Co. raised its position in shares of AMETEK by 133.3% in the first quarter. Sei Investments Co. now owns 394,881 shares of the technology company’s stock valued at $72,223,000 after purchasing an additional 225,600 shares during the period. 87.43% of the stock is owned by institutional investors.

AMETEK Stock Performance

NYSE:AME opened at $169.71 on Thursday. AMETEK, Inc. has a twelve month low of $136.89 and a twelve month high of $186.32. The company has a quick ratio of 0.76, a current ratio of 1.26 and a debt-to-equity ratio of 0.20. The stock has a market cap of $39.28 billion, a P/E ratio of 29.83, a PEG ratio of 2.77 and a beta of 1.17. The business’s 50-day moving average price is $167.42 and its two-hundred day moving average price is $169.77.

AMETEK (NYSE:AME) last announced its earnings results on Thursday, August 1st. The technology company reported $1.66 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.64 by $0.02. The business had revenue of $1.73 billion during the quarter, compared to analyst estimates of $1.78 billion. AMETEK had a net margin of 19.51% and a return on equity of 17.41%. AMETEK’s revenue for the quarter was up 5.4% on a year-over-year basis. During the same period in the previous year, the business posted $1.57 earnings per share. As a group, equities analysts predict that AMETEK, Inc. will post 6.76 EPS for the current fiscal year.

AMETEK Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, September 30th. Shareholders of record on Monday, September 16th were paid a dividend of $0.28 per share. This represents a $1.12 annualized dividend and a yield of 0.66%. The ex-dividend date of this dividend was Monday, September 16th. AMETEK’s dividend payout ratio (DPR) is currently 19.68%.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on the stock. Redburn Atlantic upgraded shares of AMETEK to a “strong-buy” rating in a research note on Friday, August 2nd. Truist Financial lifted their price target on AMETEK from $201.00 to $219.00 and gave the company a “buy” rating in a research report on Wednesday, October 9th. Wolfe Research raised AMETEK to a “hold” rating in a report on Wednesday, September 18th. Royal Bank of Canada reduced their target price on AMETEK from $216.00 to $215.00 and set an “outperform” rating for the company in a report on Friday, August 2nd. Finally, TD Cowen downgraded shares of AMETEK from a “hold” rating to a “sell” rating in a report on Monday, October 7th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, AMETEK currently has a consensus rating of “Moderate Buy” and an average target price of $193.83.

Insider Transactions at AMETEK

In related news, Director Steven W. Kohlhagen sold 1,460 shares of the business’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 value of $250,521.40. Following the completion of the sale, the director now owns 23,349 shares in the company, valued at $4,006,454.91. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Company insiders own 0.61% of the company’s stock.

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.