AMETEK, Inc. (NYSE:AME) Shares Acquired by Price T Rowe Associates Inc. MD

Price T Rowe Associates Inc. MD increased its holdings in shares of AMETEK, Inc. (NYSE:AME) by 0.7% during the 1st quarter, HoldingsChannel.com reports. The institutional investor owned 6,536,231 shares of the technology company’s stock after purchasing an additional 44,899 shares during the quarter. Price T Rowe Associates Inc. MD’s holdings in AMETEK were worth $1,195,478,000 at the end of the most recent quarter.

Other large investors have also recently added to or reduced their stakes in the company. McGlone Suttner Wealth Management Inc. purchased a new position in AMETEK during the fourth quarter worth about $25,000. Wetzel Investment Advisors Inc. purchased a new position in AMETEK during the fourth quarter worth about $25,000. Turtle Creek Wealth Advisors LLC purchased a new position in AMETEK during the fourth quarter worth about $26,000. Rakuten Securities Inc. purchased a new position in AMETEK during the fourth quarter worth about $31,000. Finally, Washington Trust Advisors Inc. purchased a new position in AMETEK during the first quarter worth about $37,000. 87.43% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on AME shares. Oppenheimer upgraded AMETEK from a “market perform” rating to an “outperform” rating and set a $200.00 target price on the stock in a research report on Wednesday, May 22nd. Truist Financial reduced their target price on AMETEK from $210.00 to $204.00 and set a “buy” rating on the stock in a research report on Tuesday, July 2nd. StockNews.com downgraded AMETEK from a “buy” rating to a “hold” rating in a report on Tuesday, June 18th. Finally, Robert W. Baird cut their price objective on AMETEK from $173.00 to $171.00 and set a “neutral” rating on the stock in a report on Monday, May 6th. Four equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. According to MarketBeat.com, AMETEK has a consensus rating of “Moderate Buy” and an average price target of $181.20.

AMETEK Trading Up 2.2 %

Shares of AMETEK stock traded up $3.75 during trading hours on Friday, reaching $172.27. The stock had a trading volume of 864,601 shares, compared to its average volume of 996,840. The firm has a market capitalization of $39.88 billion, a price-to-earnings ratio of 30.28, a P/E/G ratio of 2.77 and a beta of 1.18. The company has a current ratio of 1.11, a quick ratio of 0.66 and a debt-to-equity ratio of 0.21. AMETEK, Inc. has a 1 year low of $136.89 and a 1 year high of $186.32. The firm has a 50 day simple moving average of $169.46 and a two-hundred day simple moving average of $172.48.

AMETEK (NYSE:AME) last announced its earnings results on Thursday, May 2nd. The technology company reported $1.64 EPS for the quarter, beating the consensus estimate of $1.59 by $0.05. The business had revenue of $1.74 billion for the quarter, compared to the consensus estimate of $1.78 billion. AMETEK had a return on equity of 17.74% and a net margin of 19.57%. The company’s revenue was up 9.0% on a year-over-year basis. During the same period last year, the business posted $1.49 EPS. As a group, equities research analysts anticipate that AMETEK, Inc. will post 6.81 earnings per share for the current year.

AMETEK Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, June 28th. Investors of record on Friday, June 14th were issued a dividend of $0.28 per share. The ex-dividend date of this dividend was Friday, June 14th. This represents a $1.12 annualized dividend and a dividend yield of 0.65%. AMETEK’s payout ratio is currently 19.68%.

Insider Activity at AMETEK

In related news, Director Steven W. Kohlhagen sold 1,470 shares of the firm’s stock in a transaction dated Wednesday, May 15th. The stock was sold at an average price of $170.20, for a total transaction of $250,194.00. Following the sale, the director now directly owns 26,249 shares in the company, valued at approximately $4,467,579.80. The sale was disclosed in a document filed with the SEC, which is accessible through this link. In other AMETEK news, Director Steven W. Kohlhagen sold 1,440 shares of the firm’s stock in a transaction that occurred on Wednesday, June 12th. The stock was sold at an average price of $173.93, for a total transaction of $250,459.20. Following the completion of the sale, the director now owns 24,809 shares in the company, valued at approximately $4,315,029.37. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Steven W. Kohlhagen sold 1,470 shares of AMETEK stock in a transaction that occurred on Wednesday, May 15th. The stock was sold at an average price of $170.20, for a total value of $250,194.00. Following the completion of the transaction, the director now owns 26,249 shares of the company’s stock, valued at approximately $4,467,579.80. The disclosure for this sale can be found here. 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.