AMETEK, Inc. (NYSE:AME) Shares Acquired by Provence Wealth Management Group

Provence Wealth Management Group grew its stake in AMETEK, Inc. (NYSE:AME) by 5.5% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,435 shares of the technology company’s stock after buying an additional 75 shares during the period. Provence Wealth Management Group’s holdings in AMETEK were worth $237,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of AME. Morgan Stanley raised its position in AMETEK by 19.2% in the 3rd quarter. Morgan Stanley now owns 4,189,108 shares of the technology company’s stock valued at $618,983,000 after purchasing an additional 674,549 shares during the last quarter. Bank Julius Baer & Co. Ltd Zurich raised its position in AMETEK by 4,845.8% in the 4th quarter. Bank Julius Baer & Co. Ltd Zurich now owns 677,075 shares of the technology company’s stock valued at $111,643,000 after purchasing an additional 663,385 shares during the last quarter. Qube Research & Technologies Ltd purchased a new stake in AMETEK in the 3rd quarter valued at $90,248,000. Adage Capital Partners GP L.L.C. raised its position in AMETEK by 84.9% in the 3rd quarter. Adage Capital Partners GP L.L.C. now owns 1,081,557 shares of the technology company’s stock valued at $159,811,000 after purchasing an additional 496,523 shares during the last quarter. Finally, The Manufacturers Life Insurance Company raised its position in AMETEK by 52.9% during the 3rd quarter. The Manufacturers Life Insurance Company now owns 1,032,796 shares of the technology company’s stock worth $152,606,000 after buying an additional 357,212 shares during the last quarter. Institutional investors and hedge funds own 87.43% of the company’s stock.

AMETEK Trading Up 2.0 %

AME traded up $3.22 during midday trading on Friday, hitting $166.56. The company’s stock had a trading volume of 2,065,100 shares, compared to its average volume of 956,196. The company has a current ratio of 1.11, a quick ratio of 0.59 and a debt-to-equity ratio of 0.21. The firm has a market cap of $38.51 billion, a P/E ratio of 29.27, a PEG ratio of 2.61 and a beta of 1.21. The firm has a 50-day moving average price of $179.88 and a two-hundred day moving average price of $165.94. AMETEK, Inc. has a 52-week low of $136.89 and a 52-week high of $186.32.

AMETEK (NYSE:AME) last issued its earnings results on Thursday, May 2nd. The technology company reported $1.64 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.59 by $0.05. AMETEK had a return on equity of 17.74% and a net margin of 19.57%. The business had revenue of $1.74 billion during the quarter, compared to analysts’ expectations of $1.78 billion. During the same quarter in the previous year, the business earned $1.49 EPS. The company’s revenue for the quarter was up 9.0% on a year-over-year basis. On average, research analysts anticipate that AMETEK, Inc. will post 6.82 earnings per share for the current year.

AMETEK Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, March 28th. Investors of record on Friday, March 8th were given a dividend of $0.28 per share. The ex-dividend date was Thursday, March 7th. This is a positive change from AMETEK’s previous quarterly dividend of $0.25. This represents a $1.12 annualized dividend and a yield of 0.67%. AMETEK’s payout ratio is 19.68%.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on AME shares. Truist Financial initiated coverage on shares of AMETEK in a research report on Thursday, March 14th. They set a “buy” rating and a $210.00 price objective for the company. KeyCorp increased their price target on shares of AMETEK from $182.00 to $205.00 and gave the company an “overweight” rating in a report on Tuesday, February 27th. StockNews.com downgraded shares of AMETEK from a “buy” rating to a “hold” rating in a report on Saturday, March 2nd. Finally, Royal Bank of Canada cut their price target on shares of AMETEK from $192.00 to $188.00 and set an “outperform” rating for the company in a report on Wednesday, February 7th. Three investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat, AMETEK currently has a consensus rating of “Moderate Buy” and an average price target of $180.78.

Insider Buying and Selling

In related news, Director Thomas A. Amato sold 780 shares of the business’s stock in a transaction that occurred on Tuesday, March 26th. The stock was sold at an average price of $182.00, for a total transaction of $141,960.00. Following the transaction, the director now directly owns 10,240 shares of the company’s stock, valued at approximately $1,863,680. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other AMETEK news, CFO William Joseph Burke sold 17,437 shares of the company’s stock in a transaction that occurred on Wednesday, February 14th. The stock was sold at an average price of $168.51, for a total value of $2,938,308.87. Following the transaction, the chief financial officer now directly owns 101,709 shares of the company’s stock, valued at approximately $17,138,983.59. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Thomas A. Amato sold 780 shares of the company’s stock in a transaction that occurred on Tuesday, March 26th. The shares were sold at an average price of $182.00, for a total value of $141,960.00. Following the completion of the transaction, the director now directly owns 10,240 shares in the company, valued at $1,863,680. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 59,881 shares of company stock valued at $10,689,758. Corporate 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.