Exchange Traded Concepts LLC Purchases 25,153 Shares of AMETEK, Inc. (NYSE:AME)

Exchange Traded Concepts LLC increased its position in shares of AMETEK, Inc. (NYSE:AME) by 3,078.7% in the first quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 25,970 shares of the technology company’s stock after buying an additional 25,153 shares during the quarter. Exchange Traded Concepts LLC’s holdings in AMETEK were worth $4,470,000 as of its most recent SEC filing.

Other hedge funds have also modified their holdings of the company. Norges Bank acquired a new position in AMETEK during the fourth quarter valued at approximately $697,080,000. Capital World Investors boosted its position in AMETEK by 70.0% during the fourth quarter. Capital World Investors now owns 5,760,017 shares of the technology company’s stock valued at $1,038,301,000 after purchasing an additional 2,371,062 shares during the last quarter. Lazard Asset Management LLC boosted its position in AMETEK by 393.1% during the fourth quarter. Lazard Asset Management LLC now owns 1,215,087 shares of the technology company’s stock valued at $219,030,000 after purchasing an additional 968,661 shares during the last quarter. GAMMA Investing LLC boosted its position in AMETEK by 18,368.3% during the first quarter. GAMMA Investing LLC now owns 973,280 shares of the technology company’s stock valued at $167,540,000 after purchasing an additional 968,010 shares during the last quarter. Finally, American Century Companies Inc. boosted its position in AMETEK by 240.3% during the fourth quarter. American Century Companies Inc. now owns 1,125,068 shares of the technology company’s stock valued at $202,805,000 after purchasing an additional 794,473 shares during the last quarter. 87.43% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on the company. Robert W. Baird cut their price objective on AMETEK from $197.00 to $190.00 and set a “neutral” rating for the company in a research report on Wednesday, May 7th. Royal Bank of Canada raised their price objective on AMETEK from $194.00 to $201.00 and gave the company an “outperform” rating in a research report on Friday, May 2nd. Truist Financial lifted their price target on AMETEK from $196.00 to $200.00 and gave the stock a “buy” rating in a report on Monday, May 5th. Mizuho set a $212.00 price target on AMETEK in a report on Friday, May 16th. Finally, Wall Street Zen raised AMETEK from a “hold” rating to a “buy” rating in a report on Monday, May 12th. One investment analyst has rated the stock with a sell rating, three have given a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $197.89.

Insider Buying and Selling at AMETEK

In related news, Director Thomas A. Amato sold 710 shares of AMETEK stock in a transaction that occurred on Thursday, March 27th. The stock was sold at an average price of $176.64, for a total transaction of $125,414.40. Following the transaction, the director now owns 10,560 shares of the company’s stock, valued at $1,865,318.40. The trade was a 6.30% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Insiders own 0.57% of the company’s stock.

AMETEK Trading Up 0.9%

Shares of AME stock opened at $178.55 on Tuesday. The stock has a market cap of $41.22 billion, a price-to-earnings ratio of 30.11, a PEG ratio of 2.73 and a beta of 1.10. The stock has a 50-day moving average of $171.87 and a 200-day moving average of $177.96. The company has a current ratio of 1.24, a quick ratio of 0.75 and a debt-to-equity ratio of 0.15. AMETEK, Inc. has a 1-year low of $145.02 and a 1-year high of $198.33.

AMETEK (NYSE:AME) last announced its earnings results on Thursday, May 1st. The technology company reported $1.75 EPS for the quarter, beating the consensus estimate of $1.69 by $0.06. AMETEK had a return on equity of 16.94% and a net margin of 19.83%. The company had revenue of $1.73 billion for the quarter, compared to analyst estimates of $1.74 billion. During the same quarter in the prior year, the company earned $1.64 EPS. The firm’s revenue for the quarter was down .2% compared to the same quarter last year. On average, equities research analysts forecast that AMETEK, Inc. will post 7.15 earnings per share for the current year.

AMETEK Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, June 30th. Shareholders of record on Friday, June 13th will be paid a $0.31 dividend. The ex-dividend date of this dividend is Friday, June 13th. This represents a $1.24 dividend on an annualized basis and a yield of 0.69%. AMETEK’s dividend payout ratio (DPR) is presently 20.29%.

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.