Absher Wealth Management LLC Purchases 1,047 Shares of AMETEK, Inc. (NYSE:AME)

Absher Wealth Management LLC lifted its stake in AMETEK, Inc. (NYSE:AME) by 14.7% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 8,185 shares of the technology company’s stock after buying an additional 1,047 shares during the period. Absher Wealth Management LLC’s holdings in AMETEK were worth $1,475,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently modified their holdings of AME. EdgePoint Investment Group Inc. lifted its position in shares of AMETEK by 87.9% during the 3rd quarter. EdgePoint Investment Group Inc. now owns 1,964,236 shares of the technology company’s stock worth $337,279,000 after buying an additional 918,737 shares during the last quarter. Meridiem Investment Management Ltd. bought a new position in AMETEK in the third quarter valued at about $130,579,000. Principal Financial Group Inc. lifted its holdings in shares of AMETEK by 72.0% in the third 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 last quarter. D1 Capital Partners L.P. acquired a new stake in shares of AMETEK in the 3rd quarter valued at approximately $79,782,000. Finally, Assenagon Asset Management S.A. increased its position in AMETEK by 434.5% during the 4th quarter. Assenagon Asset Management S.A. now owns 541,517 shares of the technology company’s stock worth $97,614,000 after purchasing an additional 440,197 shares in the last quarter. Institutional investors own 87.43% of the company’s stock.

Analyst Upgrades and Downgrades

AME has been the subject of a number of research reports. Truist Financial increased their price target on AMETEK from $221.00 to $222.00 and gave the company a “buy” rating in a research note on Thursday, January 16th. StockNews.com downgraded AMETEK from a “buy” rating to a “hold” rating in a research report on Wednesday. Mizuho boosted 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. BNP Paribas upgraded shares of AMETEK from a “neutral” rating to an “outperform” rating and set a $210.00 price objective for the company in a report on Thursday, January 16th. Finally, Bank of America raised shares of AMETEK from a “neutral” rating to a “buy” rating and boosted their target price for the stock from $195.00 to $225.00 in a report on Monday, December 16th. One analyst has rated the stock with a sell rating, three have issued a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $204.67.

AMETEK Stock Performance

Shares of AMETEK stock opened at $180.05 on Thursday. The business has a 50-day moving average price of $184.84 and a two-hundred day moving average price of $176.58. AMETEK, Inc. has a 1-year low of $149.03 and a 1-year high of $198.33. The company has a current ratio of 1.39, a quick ratio of 0.84 and a debt-to-equity ratio of 0.18. The company has a market cap of $41.65 billion, a P/E ratio of 31.37, a PEG ratio of 2.67 and a beta of 1.16.

AMETEK (NYSE:AME) last released its earnings results on Tuesday, February 4th. The technology company reported $1.87 EPS for the quarter, topping the consensus estimate of $1.85 by $0.02. The business had revenue of $1.76 billion during the quarter, compared to analysts’ expectations of $1.82 billion. AMETEK had a return on equity of 16.88% and a net margin of 19.27%. The firm’s revenue was up 1.8% on a year-over-year basis. During the same quarter last year, the firm posted $1.68 earnings per share. As a group, analysts anticipate that AMETEK, Inc. will post 6.8 EPS for the current year.

AMETEK Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, December 20th. Stockholders of record on Friday, December 6th were given a dividend of $0.28 per share. The ex-dividend date was Friday, December 6th. This represents a $1.12 dividend on an annualized basis and a dividend yield of 0.62%. AMETEK’s dividend payout ratio (DPR) is presently 19.51%.

Insider Activity

In other news, insider Tony J. Ciampitti sold 16,210 shares of the stock in a transaction that occurred on Friday, November 22nd. The stock was sold at an average price of $197.01, for a total value of $3,193,532.10. Following the completion of the sale, the insider now directly owns 49,490 shares of the company’s stock, valued at $9,750,024.90. This represents a 24.67 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, 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 value of $1,192,350.57. Following the transaction, the insider now directly owns 36,731 shares in the company, valued at approximately $7,015,253.69. The trade was a 14.53 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 29,200 shares of company stock worth $5,707,620 in the last three months. Company insiders own 0.61% of the company’s stock.

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.