AlphaQuest LLC Acquires Shares of 21,330 AMETEK, Inc. $AME

AlphaQuest LLC acquired a new stake in AMETEK, Inc. (NYSE:AME) in the 3rd quarter, according to the company in its most recent filing with the SEC. The firm acquired 21,330 shares of the technology company’s stock, valued at approximately $4,010,000.

A number of other institutional investors and hedge funds also recently modified their holdings of AME. Darwin Wealth Management LLC purchased a new position in AMETEK in the second quarter valued at approximately $25,000. NewSquare Capital LLC increased its position in AMETEK by 129.7% in the second quarter. NewSquare Capital LLC now owns 170 shares of the technology company’s stock worth $31,000 after buying an additional 96 shares during the last quarter. TruNorth Capital Management LLC bought a new stake in shares of AMETEK in the third quarter valued at $31,000. SouthState Corp lifted its position in shares of AMETEK by 47.4% during the 2nd quarter. SouthState Corp now owns 202 shares of the technology company’s stock valued at $37,000 after buying an additional 65 shares during the last quarter. Finally, AdvisorShares Investments LLC bought a new position in shares of AMETEK during the 2nd quarter worth $39,000. 87.43% of the stock is owned by hedge funds and other institutional investors.

AMETEK Stock Performance

Shares of AME opened at $226.56 on Friday. AMETEK, Inc. has a 12-month low of $145.02 and a 12-month high of $226.68. The company has a current ratio of 1.16, a quick ratio of 0.72 and a debt-to-equity ratio of 0.14. The company has a market cap of $52.15 billion, a PE ratio of 35.74, a price-to-earnings-growth ratio of 3.03 and a beta of 1.04. The stock has a 50-day moving average price of $207.14 and a 200-day moving average price of $193.57.

AMETEK (NYSE:AME) last announced its earnings results on Thursday, October 30th. The technology company reported $1.89 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.76 by $0.13. The business had revenue of $1.89 billion during the quarter, compared to analyst estimates of $1.81 billion. AMETEK had a net margin of 20.50% and a return on equity of 16.66%. AMETEK’s revenue for the quarter was up 10.8% on a year-over-year basis. During the same period in the previous year, the business posted $1.66 earnings per share. As a group, equities analysts forecast that AMETEK, Inc. will post 7.15 earnings per share for the current fiscal year.

AMETEK Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, December 19th. Investors of record on Friday, December 5th were given a $0.31 dividend. The ex-dividend date was Friday, December 5th. This represents a $1.24 annualized dividend and a yield of 0.5%. AMETEK’s payout ratio is 19.56%.

Wall Street Analyst Weigh In

Several equities research analysts have commented on the stock. Melius Research set a $235.00 price objective on shares of AMETEK in a report on Monday, January 5th. Morgan Stanley increased their target price on AMETEK from $198.00 to $215.00 and gave the stock an “equal weight” rating in a research report on Monday, January 12th. KeyCorp raised their price target on AMETEK from $220.00 to $235.00 and gave the stock an “overweight” rating in a report on Tuesday, January 6th. Deutsche Bank Aktiengesellschaft initiated coverage on AMETEK in a research note on Wednesday, January 21st. They set a “buy” rating and a $271.00 price objective on the stock. Finally, Oppenheimer downgraded AMETEK from an “outperform” rating to a “market perform” rating in a research note on Tuesday. One analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and four have assigned a Hold rating to the company. According to data from MarketBeat, AMETEK presently has a consensus rating of “Moderate Buy” and a consensus price target of $229.82.

Insider Activity at AMETEK

In other news, insider Thomas C. Marecic sold 14,310 shares of the company’s stock in a transaction dated Monday, December 15th. The stock was sold at an average price of $202.11, for a total value of $2,892,194.10. Following the completion of the transaction, the insider directly owned 42,589 shares in the company, valued at approximately $8,607,662.79. This represents a 25.15% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO David A. Zapico sold 88,000 shares of the company’s stock in a transaction that occurred on Tuesday, November 25th. The stock was sold at an average price of $196.39, for a total value of $17,282,320.00. Following the completion of the sale, the chief executive officer directly owned 348,955 shares of the company’s stock, valued at approximately $68,531,272.45. This represents a 20.14% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 137,088 shares of company stock valued at $27,212,340 over the last 90 days. 0.57% of the stock is owned by insiders.

About AMETEK

AMETEK, Inc is a global manufacturer of electronic instruments and electromechanical devices that serves a broad range of industries. Headquartered in Berwyn, Pennsylvania, the company designs and produces precision instruments, electronic measurement devices, specialty sensors, and electric motors and motion control systems. Its product portfolio includes analytical and monitoring instruments, calibration equipment, power supplies, embedded electronics, and industrial motors and drives used for critical applications.

The company operates through two primary business platforms — an electronic instruments group focused on analytical, test and measurement and sensor products, and an electromechanical group that supplies motors, actuators, and related power and motion solutions.