Cerity Partners LLC Buys 35,485 Shares of AMETEK, Inc. (NYSE:AME)

Cerity Partners LLC grew its stake in AMETEK, Inc. (NYSE:AME) by 2,511.3% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 36,898 shares of the technology company’s stock after acquiring an additional 35,485 shares during the period. Cerity Partners LLC’s holdings in AMETEK were worth $6,084,000 at the end of the most recent quarter.

Several other hedge funds also recently modified their holdings of AME. McGlone Suttner Wealth Management Inc. acquired a new stake in AMETEK in the 4th quarter valued at about $25,000. Turtle Creek Wealth Advisors LLC acquired a new stake in AMETEK in the 4th quarter valued at about $26,000. Bruce G. Allen Investments LLC acquired a new stake in AMETEK in the 4th quarter valued at about $28,000. Covestor Ltd lifted its stake in AMETEK by 84.3% in the 1st quarter. Covestor Ltd now owns 212 shares of the technology company’s stock valued at $28,000 after purchasing an additional 97 shares during the last quarter. Finally, Resurgent Financial Advisors LLC acquired a new stake in AMETEK in the 4th quarter valued at about $28,000. Institutional investors own 87.43% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on the stock. Royal Bank of Canada cut their price objective on shares of AMETEK from $192.00 to $188.00 and set an “outperform” rating for the company in a research report on Wednesday, February 7th. KeyCorp raised their price objective on shares of AMETEK from $182.00 to $205.00 and gave the stock an “overweight” rating in a research report on Tuesday, February 27th. Truist Financial assumed 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. Finally, StockNews.com downgraded shares of AMETEK from a “buy” rating to a “hold” rating in a research report on Saturday, March 2nd. Three investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $180.78.

AMETEK Stock Up 0.0 %

Shares of AME opened at $179.08 on Wednesday. AMETEK, Inc. has a 12 month low of $133.12 and a 12 month high of $186.32. The firm’s 50 day moving average is $178.82 and its 200-day moving average is $163.94. The stock has a market capitalization of $41.41 billion, a PE ratio of 31.58, a P/E/G ratio of 2.87 and a beta of 1.22. The company has a current ratio of 0.98, a quick ratio of 0.59 and a debt-to-equity ratio of 0.22.

AMETEK (NYSE:AME) last announced its earnings results on Tuesday, February 6th. The technology company reported $1.68 EPS for the quarter, topping the consensus estimate of $1.62 by $0.06. AMETEK had a net margin of 19.91% and a return on equity of 17.96%. The company had revenue of $1.73 billion for the quarter, compared to analysts’ expectations of $1.73 billion. During the same period last year, the firm earned $1.52 earnings per share. The business’s revenue for the quarter was up 6.1% on a year-over-year basis. Equities research analysts forecast that AMETEK, Inc. will post 6.82 EPS for the current year.

AMETEK Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, March 28th. Stockholders of record on Friday, March 8th were issued a dividend of $0.28 per share. The ex-dividend date of this dividend was Thursday, March 7th. This is a boost from AMETEK’s previous quarterly dividend of $0.25. This represents a $1.12 annualized dividend and a dividend yield of 0.63%. AMETEK’s dividend payout ratio (DPR) is currently 19.75%.

Insider Transactions at AMETEK

In related news, CFO William Joseph Burke sold 17,437 shares of AMETEK stock in a transaction that occurred on Wednesday, February 14th. The shares were 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 $17,138,983.59. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, CFO William Joseph Burke sold 17,437 shares of AMETEK stock in a transaction that occurred on Wednesday, February 14th. The shares were 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 $17,138,983.59. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Steven W. Kohlhagen sold 1,400 shares of AMETEK stock in a transaction that occurred on Tuesday, March 12th. The shares were sold at an average price of $180.59, for a total transaction of $252,826.00. Following the completion of the transaction, the director now directly owns 28,054 shares in the company, valued at $5,066,271.86. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 59,881 shares of company stock valued at $10,689,758. 0.61% of the stock is currently owned by company insiders.

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.