Williams Financial LLC Purchases Shares of 34,965 AMETEK, Inc. (NYSE:AME)

Williams Financial LLC purchased a new stake in shares of AMETEK, Inc. (NYSE:AME) in the second quarter, according to its most recent filing with the Securities & Exchange Commission. The firm purchased 34,965 shares of the technology company’s stock, valued at approximately $6,040,000.

A number of other institutional investors have also made changes to their positions in AME. Wetzel Investment Advisors Inc. acquired a new position in shares of AMETEK in the fourth quarter valued at approximately $25,000. Rakuten Securities Inc. purchased a new position in AMETEK in the fourth quarter worth approximately $31,000. Washington Trust Advisors Inc. purchased a new position in AMETEK in the first quarter worth approximately $37,000. Headlands Technologies LLC purchased a new position in AMETEK in the first quarter worth approximately $43,000. Finally, Mendota Financial Group LLC purchased a new position in AMETEK in the first quarter worth approximately $50,000. 87.43% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on the stock. Truist Financial decreased their price target on shares of AMETEK from $204.00 to $201.00 and set a “buy” rating for the company in a research note on Friday, August 2nd. StockNews.com cut shares of AMETEK from a “buy” rating to a “hold” rating in a report on Tuesday, August 6th. Royal Bank of Canada lowered their target price on shares of AMETEK from $216.00 to $215.00 and set an “outperform” rating for the company in a report on Friday, August 2nd. TD Cowen lowered their target price on shares of AMETEK from $165.00 to $158.00 and set a “hold” rating for the company in a report on Monday, August 5th. Finally, Redburn Atlantic upgraded shares of AMETEK to a “strong-buy” rating in a report on Friday, August 2nd. Four analysts have rated the stock with a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, AMETEK presently has an average rating of “Moderate Buy” and a consensus target price of $186.29.

Insider Activity

In related news, Director Steven W. Kohlhagen sold 1,440 shares of the stock in a transaction dated Wednesday, June 12th. The shares were sold at an average price of $173.93, for a total value of $250,459.20. Following the sale, the director now directly owns 24,809 shares of the company’s stock, valued at approximately $4,315,029.37. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Insiders own 0.61% of the company’s stock.

AMETEK Stock Performance

AMETEK stock traded down $0.46 during trading hours on Friday, reaching $162.69. 1,039,517 shares of the stock were exchanged, compared to its average volume of 1,133,188. The stock has a market cap of $37.66 billion, a P/E ratio of 28.59, a P/E/G ratio of 2.57 and a beta of 1.18. The company has a debt-to-equity ratio of 0.20, a quick ratio of 0.66 and a current ratio of 1.26. AMETEK, Inc. has a 52-week low of $136.89 and a 52-week high of $186.32. The firm’s 50 day moving average is $167.07 and its 200 day moving average is $172.37.

AMETEK (NYSE:AME) last announced its quarterly earnings results on Thursday, August 1st. The technology company reported $1.66 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.64 by $0.02. The business had revenue of $1.73 billion during the quarter, compared to the consensus estimate of $1.78 billion. AMETEK had a net margin of 19.51% and a return on equity of 17.41%. The business’s revenue was up 5.4% compared to the same quarter last year. During the same quarter last year, the firm posted $1.57 EPS. Analysts predict that AMETEK, Inc. will post 6.78 EPS for the current fiscal year.

AMETEK Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, September 30th. Stockholders of record on Monday, September 16th will be issued a $0.28 dividend. The ex-dividend date of this dividend is Monday, September 16th. This represents a $1.12 dividend on an annualized basis and a dividend yield of 0.69%. AMETEK’s dividend payout ratio is presently 19.68%.

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.