Crestwood Advisors Group LLC raised its stake in shares of AMETEK, Inc. (NYSE:AME – Free Report) by 2.8% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 7,707 shares of the technology company’s stock after buying an additional 211 shares during the quarter. Crestwood Advisors Group LLC’s holdings in AMETEK were worth $1,323,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other institutional investors have also added to or reduced their stakes in the company. Washington Trust Advisors Inc. purchased a new stake in AMETEK during the 1st quarter valued at approximately $37,000. Family Firm Inc. bought a new position in shares of AMETEK during the 2nd quarter valued at approximately $39,000. Headlands Technologies LLC bought a new position in shares of AMETEK during the 1st quarter valued at approximately $43,000. Industrial Alliance Investment Management Inc. bought a new position in shares of AMETEK during the 2nd quarter valued at approximately $42,000. Finally, Princeton Global Asset Management LLC bought a new position in shares of AMETEK during the 3rd quarter valued at approximately $44,000. 87.43% of the stock is owned by hedge funds and other institutional investors.
Wall Street Analyst Weigh In
A number of research analysts have recently commented on AME shares. Mizuho increased their target price on AMETEK from $190.00 to $200.00 and gave the company an “outperform” rating in a research report on Friday, November 1st. StockNews.com upgraded AMETEK from a “hold” rating to a “buy” rating in a research report on Monday. Wolfe Research upgraded AMETEK to a “hold” rating in a research report on Wednesday, September 18th. Royal Bank of Canada lowered their price target on AMETEK from $216.00 to $215.00 and set an “outperform” rating for the company in a research report on Friday, August 2nd. Finally, Robert W. Baird raised their price target on AMETEK from $166.00 to $186.00 and gave the stock a “neutral” rating in a research report on Monday. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating, six have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $197.86.
AMETEK Stock Up 1.2 %
NYSE:AME opened at $182.02 on Wednesday. AMETEK, Inc. has a twelve month low of $141.65 and a twelve month high of $186.32. The company has a market cap of $42.10 billion, a price-to-earnings ratio of 31.71, a price-to-earnings-growth ratio of 2.91 and a beta of 1.16. The stock has a fifty day simple moving average of $169.69 and a 200-day simple moving average of $168.91. The company has a current ratio of 1.39, a quick ratio of 0.84 and a debt-to-equity ratio of 0.18.
AMETEK (NYSE:AME – Get Free Report) last released its earnings results on Thursday, October 31st. The technology company reported $1.66 earnings per share for the quarter, topping 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 the consensus estimate of $1.71 billion. During the same period last year, the company earned $1.64 earnings per share. The business’s revenue for the quarter was up 5.3% compared to the same quarter last year. Analysts anticipate that AMETEK, Inc. will post 6.81 EPS for the current year.
AMETEK Announces Dividend
The firm also recently announced a quarterly dividend, which was paid on Monday, September 30th. Stockholders of record on Monday, September 16th were given a dividend of $0.28 per share. The ex-dividend date of this dividend was Monday, September 16th. This represents a $1.12 annualized dividend and a dividend yield of 0.62%. AMETEK’s dividend payout ratio (DPR) is 19.51%.
Insider Transactions at AMETEK
In other news, Director Steven W. Kohlhagen sold 1,460 shares of AMETEK stock in a transaction on Wednesday, September 25th. The stock was sold at an average price of $171.59, for a total transaction of $250,521.40. Following the completion of the sale, the director now directly owns 23,349 shares in the company, valued at approximately $4,006,454.91. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Corporate 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.
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