Cooper Financial Group Buys 376 Shares of AMETEK, Inc. (NYSE:AME)

Cooper Financial Group boosted its stake in AMETEK, Inc. (NYSE:AME) by 7.0% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 5,771 shares of the technology company’s stock after purchasing an additional 376 shares during the quarter. Cooper Financial Group’s holdings in AMETEK were worth $1,040,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in AME. Oddo BHF Asset Management Sas bought a new stake in AMETEK in the 3rd quarter valued at about $3,724,000. Everence Capital Management Inc. bought a new stake in shares of AMETEK during the fourth quarter valued at approximately $999,000. BNP Paribas Financial Markets raised its position in shares of AMETEK by 23.2% during the third quarter. BNP Paribas Financial Markets now owns 355,828 shares of the technology company’s stock worth $61,099,000 after purchasing an additional 67,025 shares during the period. Sawgrass Asset Management LLC lifted its holdings in shares of AMETEK by 36.5% in the 3rd quarter. Sawgrass Asset Management LLC now owns 74,757 shares of the technology company’s stock worth $12,837,000 after purchasing an additional 20,001 shares in the last quarter. Finally, Taurus Asset Management LLC grew its position in AMETEK by 2.9% in the 3rd quarter. Taurus Asset Management LLC now owns 115,033 shares of the technology company’s stock valued at $19,752,000 after purchasing an additional 3,210 shares during the period. Institutional investors and hedge funds own 87.43% of the company’s stock.

AMETEK Price Performance

Shares of NYSE:AME opened at $176.48 on Tuesday. AMETEK, Inc. has a fifty-two week low of $149.03 and a fifty-two week high of $198.33. The company’s 50-day moving average is $187.80 and its 200 day moving average is $174.85. The company has a debt-to-equity ratio of 0.18, a quick ratio of 0.84 and a current ratio of 1.39. The company has a market capitalization of $40.82 billion, a P/E ratio of 30.75, a price-to-earnings-growth ratio of 3.08 and a beta of 1.16.

AMETEK (NYSE:AME) last released its earnings results on Thursday, October 31st. The technology company reported $1.66 earnings per share for the quarter, beating analysts’ consensus estimates of $1.62 by $0.04. The firm had revenue of $1.71 billion during the quarter, compared to the consensus estimate of $1.71 billion. AMETEK had a net margin of 19.27% and a return on equity of 16.88%. The company’s revenue was up 5.3% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.64 EPS. On average, equities research analysts forecast that AMETEK, Inc. will post 6.8 earnings per share for the current year.

AMETEK Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, December 20th. Stockholders of record on Friday, December 6th were given a dividend of $0.28 per share. The ex-dividend date was Friday, December 6th. This represents a $1.12 dividend on an annualized basis and a dividend yield of 0.63%. AMETEK’s dividend payout ratio is presently 19.51%.

Insider Transactions at AMETEK

In other news, insider David F. Hermance sold 6,243 shares of AMETEK stock in a transaction on Friday, November 8th. The stock was sold at an average price of $190.99, for a total value of $1,192,350.57. Following the completion of the transaction, the insider now directly owns 36,731 shares in the company, valued at approximately $7,015,253.69. The trade was a 14.53 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Emanuela Speranza sold 6,747 shares of the firm’s stock in a transaction dated Tuesday, November 26th. The stock was sold at an average price of $195.90, for a total value of $1,321,737.30. Following the completion of the transaction, the insider now owns 30,460 shares of the company’s stock, valued at approximately $5,967,114. This represents a 18.13 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 29,200 shares of company stock worth $5,707,620. 0.61% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on the stock. TD Cowen lowered shares of AMETEK from a “hold” rating to a “sell” rating in a research note on Monday, October 7th. Wolfe Research raised shares of AMETEK to a “hold” rating in a research report on Wednesday, September 18th. Truist Financial boosted their price objective on AMETEK from $219.00 to $221.00 and gave the stock a “buy” rating in a report on Friday, November 1st. Robert W. Baird lifted their target price on AMETEK from $166.00 to $186.00 and gave the company a “neutral” rating in a research report on Monday, November 4th. Finally, Bank of America raised AMETEK from a “neutral” rating to a “buy” rating and increased their price target for the company from $195.00 to $225.00 in a research report on Monday, December 16th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $202.50.

About AMETEK

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.