Apollon Wealth Management LLC Decreases Stake in AMETEK, Inc. (NYSE:AME)

Apollon Wealth Management LLC cut its holdings in AMETEK, Inc. (NYSE:AME) by 0.8% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 11,785 shares of the technology company’s stock after selling 95 shares during the period. Apollon Wealth Management LLC’s holdings in AMETEK were worth $2,024,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of the business. JPMorgan Chase & Co. raised its holdings in shares of AMETEK by 48.4% in the 1st quarter. JPMorgan Chase & Co. now owns 7,075,565 shares of the technology company’s stock worth $1,294,121,000 after purchasing an additional 2,306,535 shares during the period. Bank of New York Mellon Corp raised its stake in shares of AMETEK by 34.6% in 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 buying an additional 926,657 shares during the period. Meridiem Investment Management Ltd. purchased a new position in shares of AMETEK during the 3rd quarter valued at $130,579,000. Principal Financial Group Inc. grew its stake in shares of AMETEK by 72.0% during the 3rd quarter. Principal Financial Group Inc. now owns 1,680,309 shares of the technology company’s stock worth $288,526,000 after acquiring an additional 703,501 shares during the period. Finally, James Hambro & Partners LLP purchased a new stake in AMETEK in the 3rd quarter worth about $60,188,000. 87.43% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other news, insider David F. Hermance sold 6,243 shares of AMETEK stock in a transaction on Friday, November 8th. The stock was sold at an average price of $190.99, for a total transaction of $1,192,350.57. Following the completion of the sale, the insider now directly owns 36,731 shares in the company, valued at approximately $7,015,253.69. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In related news, insider David F. Hermance sold 6,243 shares of AMETEK stock in a transaction that occurred on Friday, November 8th. The shares were sold at an average price of $190.99, for a total transaction of $1,192,350.57. Following the transaction, the insider now directly owns 36,731 shares of the company’s stock, valued at $7,015,253.69. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, Director Steven W. Kohlhagen sold 1,460 shares of the company’s stock in a transaction 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 sale, the director now owns 23,349 shares of the company’s stock, valued at approximately $4,006,454.91. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. 0.61% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

A number of research firms have recently commented on AME. Mizuho raised their price target on AMETEK from $190.00 to $200.00 and gave the stock an “outperform” rating in a report on Friday, November 1st. StockNews.com raised AMETEK from a “hold” rating to a “buy” rating in a report on Monday, November 4th. Robert W. Baird increased their price target on shares of AMETEK from $166.00 to $186.00 and gave the stock a “neutral” rating in a report on Monday, November 4th. TD Cowen cut shares of AMETEK from a “hold” rating to a “sell” rating in a research note on Monday, October 7th. Finally, Truist Financial upped their target price on shares of AMETEK from $219.00 to $221.00 and gave the stock a “buy” rating in a report on Friday, November 1st. One equities research analyst has rated the stock with a sell rating, two have given a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $197.86.

AMETEK Price Performance

Shares of NYSE:AME opened at $195.42 on Thursday. The firm’s 50 day moving average price is $171.87 and its 200-day moving average price is $169.36. The company has a quick ratio of 0.84, a current ratio of 1.39 and a debt-to-equity ratio of 0.18. The stock has a market capitalization of $45.20 billion, a PE ratio of 34.05, a price-to-earnings-growth ratio of 3.17 and a beta of 1.16. AMETEK, Inc. has a twelve month low of $149.03 and a twelve month high of $196.70.

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

AMETEK Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, December 20th. Investors of record on Friday, December 6th will be issued a dividend of $0.28 per share. The ex-dividend date of this dividend is Friday, December 6th. This represents a $1.12 annualized dividend and a yield of 0.57%. AMETEK’s payout ratio is presently 19.51%.

AMETEK Company 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.