AMETEK, Inc. (NYSE:AME) Shares Sold by 1858 Wealth Management LLC

1858 Wealth Management LLC lessened its position in shares of AMETEK, Inc. (NYSE:AME) by 0.7% in the 3rd quarter, HoldingsChannel reports. The institutional investor owned 22,720 shares of the technology company’s stock after selling 149 shares during the period. AMETEK makes up approximately 3.2% of 1858 Wealth Management LLC’s investment portfolio, making the stock its 6th largest position. 1858 Wealth Management LLC’s holdings in AMETEK were worth $3,901,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also made changes to their positions in AME. Czech National Bank raised its stake in AMETEK by 8.6% in the 2nd quarter. Czech National Bank now owns 44,108 shares of the technology company’s stock valued at $7,353,000 after purchasing an additional 3,499 shares during the last quarter. Duality Advisers LP acquired a new position in AMETEK in the 1st quarter valued at about $1,676,000. CWM LLC raised its stake in AMETEK by 53.9% in the 2nd quarter. CWM LLC now owns 10,594 shares of the technology company’s stock valued at $1,766,000 after purchasing an additional 3,711 shares during the last quarter. American National Bank & Trust Co. VA acquired a new position in AMETEK in the 1st quarter valued at about $6,978,000. Finally, State Board of Administration of Florida Retirement System raised its stake in AMETEK by 3.3% in the 1st quarter. State Board of Administration of Florida Retirement System now owns 258,677 shares of the technology company’s stock valued at $47,312,000 after purchasing an additional 8,189 shares during the last quarter. Institutional investors and hedge funds own 87.43% of the company’s stock.

Insider Transactions at AMETEK

In related news, Director Steven W. Kohlhagen sold 1,460 shares of the firm’s stock in a transaction on Wednesday, September 25th. The shares were sold at an average price of $171.59, for a total transaction of $250,521.40. Following the completion of the sale, the director now directly owns 23,349 shares of the company’s stock, valued at approximately $4,006,454.91. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 0.61% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have commented on AME. Redburn Atlantic upgraded AMETEK to a “strong-buy” rating in a report on Friday, August 2nd. Mizuho lifted their price target on AMETEK from $180.00 to $190.00 and gave the company an “outperform” rating in a report on Thursday. Robert W. Baird lowered their price target on AMETEK from $171.00 to $166.00 and set a “neutral” rating for the company in a report on Wednesday, August 7th. Truist Financial lifted their price target on shares of AMETEK from $201.00 to $219.00 and gave the company a “buy” rating in a report on Wednesday, October 9th. Finally, Wolfe Research raised AMETEK to a “hold” rating in a research report on Wednesday, September 18th. One investment analyst has rated the stock with a sell rating, three have given a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, AMETEK presently has an average rating of “Moderate Buy” and a consensus target price of $193.29.

AMETEK Stock Down 0.3 %

Shares of NYSE:AME traded down $0.47 during midday trading on Monday, hitting $168.93. 310,757 shares of the company’s stock traded hands, compared to its average volume of 1,137,000. AMETEK, Inc. has a twelve month low of $136.89 and a twelve month high of $186.32. The company has a market cap of $39.10 billion, a PE ratio of 29.77, a P/E/G ratio of 2.77 and a beta of 1.17. The company has a debt-to-equity ratio of 0.20, a quick ratio of 0.76 and a current ratio of 1.26. The firm’s fifty day moving average price is $167.84 and its two-hundred day moving average price is $169.53.

AMETEK (NYSE:AME) last issued its earnings results on Thursday, August 1st. The technology company reported $1.66 earnings per share for the quarter, topping the consensus estimate of $1.64 by $0.02. The company had revenue of $1.73 billion during the quarter, compared to the consensus estimate of $1.78 billion. AMETEK had a return on equity of 17.41% and a net margin of 19.51%. The company’s revenue was up 5.4% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.57 earnings per share. On average, equities research analysts anticipate that AMETEK, Inc. will post 6.76 EPS for the current fiscal year.

AMETEK Announces Dividend

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

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.