Truvestments Capital LLC Buys Shares of 3,278 AMETEK, Inc. (NYSE:AME)

Truvestments Capital LLC purchased a new position in shares of AMETEK, Inc. (NYSE:AME) in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 3,278 shares of the technology company’s stock, valued at approximately $563,000.

Other hedge funds have also made changes to their positions in the company. B. Riley Wealth Advisors Inc. increased its holdings in AMETEK by 42.6% in the first quarter. B. Riley Wealth Advisors Inc. now owns 1,919 shares of the technology company’s stock valued at $351,000 after buying an additional 573 shares during the last quarter. Tidal Investments LLC raised its position in shares of AMETEK by 15.1% during the 1st quarter. Tidal Investments LLC now owns 4,930 shares of the technology company’s stock valued at $902,000 after acquiring an additional 646 shares in the last quarter. Comerica Bank lifted its stake in AMETEK by 0.4% during the first quarter. Comerica Bank now owns 74,825 shares of the technology company’s stock worth $13,685,000 after purchasing an additional 314 shares during the last quarter. Plato Investment Management Ltd boosted its holdings in AMETEK by 29,554.5% in the first quarter. Plato Investment Management Ltd now owns 9,786 shares of the technology company’s stock worth $1,790,000 after purchasing an additional 9,753 shares during the period. Finally, EdgePoint Investment Group Inc. increased its stake in AMETEK by 1.1% during the first quarter. EdgePoint Investment Group Inc. now owns 945,183 shares of the technology company’s stock valued at $172,874,000 after purchasing an additional 10,428 shares during the last quarter. Institutional investors and hedge funds own 87.43% of the company’s stock.

Analysts Set New Price Targets

AME has been the topic of several research reports. StockNews.com lowered shares of AMETEK from a “buy” rating to a “hold” rating in a research note on Friday, November 15th. Mizuho raised their target price on AMETEK from $190.00 to $200.00 and gave the company an “outperform” rating in a research note on Friday, November 1st. TD Cowen cut shares of AMETEK from a “hold” rating to a “sell” rating in a report on Monday, October 7th. 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 research report on Friday, November 1st. Finally, Robert W. Baird increased their price objective on AMETEK from $166.00 to $186.00 and gave the stock a “neutral” rating in a report on Monday, November 4th. One investment analyst has rated the stock with a sell rating, three have given a hold rating, five have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $199.29.

Insider Buying and Selling

In related news, Director Steven W. Kohlhagen sold 1,460 shares of the 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 completion of the transaction, the director now owns 23,349 shares in the company, valued at $4,006,454.91. This trade represents a 5.88 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Tony J. Ciampitti sold 16,210 shares of AMETEK stock in a transaction dated 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 transaction, the insider now directly owns 49,490 shares in the company, valued at $9,750,024.90. This represents a 24.67 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 23,913 shares of company stock worth $4,636,404. Corporate insiders own 0.61% of the company’s stock.

AMETEK Stock Performance

AME opened at $197.12 on Tuesday. AMETEK, Inc. has a 1-year low of $149.03 and a 1-year high of $198.33. The company has a market capitalization of $45.60 billion, a price-to-earnings ratio of 34.34, a price-to-earnings-growth ratio of 3.22 and a beta of 1.16. The business has a 50 day moving average price of $177.04 and a two-hundred day moving average price of $170.91. The company has a debt-to-equity ratio of 0.18, a current ratio of 1.39 and a quick ratio of 0.84.

AMETEK (NYSE:AME) last announced its quarterly earnings data on Thursday, October 31st. The technology company reported $1.66 earnings per share for the quarter, beating the consensus estimate of $1.62 by $0.04. AMETEK had a return on equity of 16.88% and a net margin of 19.27%. The business had revenue of $1.71 billion during the quarter, compared to analyst estimates of $1.71 billion. During the same quarter in the prior year, the firm posted $1.64 earnings per share. The company’s revenue was up 5.3% on a year-over-year basis. Research analysts predict that AMETEK, Inc. will post 6.8 EPS for the current fiscal year.

AMETEK Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, December 20th. Investors of record on Friday, December 6th will be issued a $0.28 dividend. The ex-dividend date of this dividend is Friday, December 6th. This represents a $1.12 dividend on an annualized basis and a dividend yield of 0.57%. AMETEK’s payout ratio is currently 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.