PFG Advisors lifted its holdings in shares of AMETEK, Inc. (NYSE:AME – Free Report) by 10.0% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 35,411 shares of the technology company’s stock after purchasing an additional 3,224 shares during the period. PFG Advisors’ holdings in AMETEK were worth $6,657,000 at the end of the most recent reporting period.
Other hedge funds have also added to or reduced their stakes in the company. Darwin Wealth Management LLC acquired a new position in AMETEK in the second quarter valued at approximately $25,000. TruNorth Capital Management LLC acquired a new stake in shares of AMETEK during the 3rd quarter worth approximately $31,000. SouthState Corp grew its position in shares of AMETEK by 47.4% during the 2nd quarter. SouthState Corp now owns 202 shares of the technology company’s stock worth $37,000 after buying an additional 65 shares during the period. Grey Fox Wealth Advisors LLC bought a new stake in shares of AMETEK in the 3rd quarter valued at $39,000. Finally, Westside Investment Management Inc. lifted its position in shares of AMETEK by 100.0% during the 3rd quarter. Westside Investment Management Inc. now owns 224 shares of the technology company’s stock valued at $42,000 after acquiring an additional 112 shares during the period. 87.43% of the stock is currently owned by institutional investors.
AMETEK Stock Performance
Shares of AME stock opened at $222.02 on Monday. The company has a current ratio of 1.06, a quick ratio of 0.67 and a debt-to-equity ratio of 0.10. The firm has a fifty day simple moving average of $223.37 and a two-hundred day simple moving average of $203.00. AMETEK, Inc. has a 12 month low of $145.02 and a 12 month high of $242.05. The firm has a market capitalization of $50.84 billion, a PE ratio of 34.69, a price-to-earnings-growth ratio of 3.17 and a beta of 1.02.
AMETEK Increases Dividend
The business also recently declared a quarterly dividend, which will be paid on Tuesday, March 31st. Shareholders of record on Monday, March 16th will be paid a dividend of $0.34 per share. This is an increase from AMETEK’s previous quarterly dividend of $0.31. The ex-dividend date is Monday, March 16th. This represents a $1.36 dividend on an annualized basis and a yield of 0.6%. AMETEK’s dividend payout ratio (DPR) is presently 19.38%.
Insiders Place Their Bets
In other AMETEK news, insider Thomas C. Marecic sold 14,310 shares of the business’s stock in a transaction that occurred on Monday, December 15th. The stock was sold at an average price of $202.11, for a total transaction of $2,892,194.10. Following the completion of the sale, the insider directly owned 42,589 shares of the company’s stock, valued at approximately $8,607,662.79. The trade was a 25.15% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO David A. Zapico sold 28,390 shares of the stock in a transaction that occurred on Friday, December 12th. The stock was sold at an average price of $201.76, for a total value of $5,727,966.40. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders sold 49,088 shares of company stock valued at $9,930,020. Corporate insiders own 0.57% of the company’s stock.
Wall Street Analysts Forecast Growth
A number of equities research analysts have commented on the stock. Melius Research set a $235.00 price target on shares of AMETEK in a report on Monday, January 5th. Oppenheimer lowered shares of AMETEK from an “outperform” rating to a “market perform” rating in a report on Tuesday, January 27th. Wall Street Zen upgraded AMETEK from a “hold” rating to a “buy” rating in a research note on Sunday, February 22nd. Mizuho set a $235.00 target price on AMETEK in a research report on Wednesday, February 4th. Finally, Truist Financial set a $265.00 price target on AMETEK in a research note on Wednesday, February 4th. One equities research analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and four have issued a Hold rating to the company. Based on data from MarketBeat.com, AMETEK presently has a consensus rating of “Moderate Buy” and an average target price of $243.00.
Read Our Latest Research Report on AMETEK
AMETEK Company Profile
AMETEK, Inc is a global manufacturer of electronic instruments and electromechanical devices that serves a broad range of industries. Headquartered in Berwyn, Pennsylvania, the company designs and produces precision instruments, electronic measurement devices, specialty sensors, and electric motors and motion control systems. Its product portfolio includes analytical and monitoring instruments, calibration equipment, power supplies, embedded electronics, and industrial motors and drives used for critical applications.
The company operates through two primary business platforms — an electronic instruments group focused on analytical, test and measurement and sensor products, and an electromechanical group that supplies motors, actuators, and related power and motion solutions.
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