HBE Wealth Management LLC acquired a new stake in AMETEK, Inc. (NYSE:AME – Free Report) during the 4th quarter, Holdings Channel.com reports. The fund acquired 6,025 shares of the technology company’s stock, valued at approximately $1,237,000. AMETEK comprises approximately 1.2% of HBE Wealth Management LLC’s holdings, making the stock its 18th largest position.
A number of other institutional investors and hedge funds have also modified their holdings of the business. Fort Washington Investment Advisors Inc. OH raised its stake in shares of AMETEK by 2.9% in the fourth quarter. Fort Washington Investment Advisors Inc. OH now owns 1,816 shares of the technology company’s stock worth $373,000 after purchasing an additional 51 shares during the last quarter. Parallel Advisors LLC boosted its position in shares of AMETEK by 2.0% during the third quarter. Parallel Advisors LLC now owns 2,766 shares of the technology company’s stock valued at $520,000 after buying an additional 53 shares during the last quarter. Biltmore Wealth Management LLC increased its holdings in AMETEK by 1.1% in the 3rd quarter. Biltmore Wealth Management LLC now owns 4,771 shares of the technology company’s stock worth $897,000 after buying an additional 54 shares in the last quarter. Brooklyn Investment Group raised its position in AMETEK by 3.2% in the 3rd quarter. Brooklyn Investment Group now owns 1,735 shares of the technology company’s stock worth $326,000 after buying an additional 54 shares during the last quarter. Finally, Cim LLC raised its position in AMETEK by 0.7% in the 3rd quarter. Cim LLC now owns 7,645 shares of the technology company’s stock worth $1,437,000 after buying an additional 56 shares during the last quarter. Institutional investors own 87.43% of the company’s stock.
AMETEK Price Performance
Shares of NYSE:AME opened at $218.19 on Friday. The firm’s 50 day moving average price is $224.65 and its 200-day moving average price is $206.90. AMETEK, Inc. has a twelve month low of $145.02 and a twelve month high of $242.05. The company has a quick ratio of 0.67, a current ratio of 1.06 and a debt-to-equity ratio of 0.10. The stock has a market capitalization of $49.98 billion, a PE ratio of 34.09, a price-to-earnings-growth ratio of 3.14 and a beta of 1.04.
AMETEK Increases Dividend
The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, March 31st. Stockholders of record on Monday, March 16th were given a dividend of $0.34 per share. This represents a $1.36 dividend on an annualized basis and a dividend yield of 0.6%. The ex-dividend date of this dividend was Monday, March 16th. This is a positive change from AMETEK’s previous quarterly dividend of $0.31. AMETEK’s payout ratio is presently 21.25%.
Insider Activity at AMETEK
In related news, Director Thomas A. Amato sold 530 shares of the firm’s stock in a transaction on Tuesday, March 24th. The stock was sold at an average price of $216.78, for a total value of $114,893.40. Following the transaction, the director directly owned 4,480 shares of the company’s stock, valued at approximately $971,174.40. This trade represents a 10.58% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 0.54% of the stock is owned by company insiders.
Wall Street Analysts Forecast Growth
A number of brokerages have recently issued reports on AME. KeyCorp raised their price target on shares of AMETEK from $235.00 to $260.00 and gave the company an “overweight” rating in a report on Wednesday, February 4th. Oppenheimer downgraded shares of AMETEK from an “outperform” rating to a “market perform” rating in a research report on Tuesday, January 27th. Morgan Stanley raised their target price on shares of AMETEK from $215.00 to $235.00 and gave the stock an “equal weight” rating in a report on Thursday, March 12th. Deutsche Bank Aktiengesellschaft assumed coverage on shares of AMETEK in a research note on Wednesday, January 21st. They set a “buy” rating and a $271.00 target price for the company. Finally, Truist Financial set a $265.00 price target on AMETEK in a report on Wednesday, February 4th. One equities research analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and four have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, AMETEK has an average rating of “Moderate Buy” and a consensus target price of $244.67.
View Our Latest Research Report on AME
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.
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