Interval Partners LP Takes Position in AMETEK, Inc. (NYSE:AME)

Interval Partners LP purchased a new stake in shares of AMETEK, Inc. (NYSE:AME) during the first quarter, according to its most recent 13F filing with the SEC. The institutional investor purchased 82,250 shares of the technology company’s stock, valued at approximately $15,044,000.

Several other institutional investors and hedge funds also recently bought and sold shares of the business. Vanguard Group Inc. lifted its position in shares of AMETEK by 0.3% during the fourth quarter. Vanguard Group Inc. now owns 25,578,270 shares of the technology company’s stock worth $4,217,601,000 after acquiring an additional 84,832 shares in the last quarter. JPMorgan Chase & Co. boosted its stake in AMETEK by 48.4% in the 1st quarter. JPMorgan Chase & Co. now owns 7,075,565 shares of the technology company’s stock worth $1,294,121,000 after purchasing an additional 2,306,535 shares during the period. Price T Rowe Associates Inc. MD grew its holdings in AMETEK by 0.7% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 6,536,231 shares of the technology company’s stock valued at $1,195,478,000 after buying an additional 44,899 shares in the last quarter. Capital International Investors increased its position in shares of AMETEK by 5.0% during the fourth quarter. Capital International Investors now owns 4,196,755 shares of the technology company’s stock valued at $692,051,000 after buying an additional 198,777 shares during the period. Finally, Norges Bank purchased a new stake in shares of AMETEK in the fourth quarter worth about $589,098,000. 87.43% of the stock is owned by institutional investors.

Insider Transactions at AMETEK

In other AMETEK news, Director Steven W. Kohlhagen sold 1,440 shares of AMETEK stock in a transaction that occurred on Wednesday, June 12th. The stock was sold at an average price of $173.93, for a total value of $250,459.20. Following the transaction, the director now directly owns 24,809 shares of the company’s stock, valued at approximately $4,315,029.37. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other AMETEK news, Director Steven W. Kohlhagen sold 1,470 shares of the firm’s stock in a transaction on Wednesday, May 15th. The shares were sold at an average price of $170.20, for a total value of $250,194.00. Following the sale, the director now owns 26,249 shares of the company’s stock, valued at approximately $4,467,579.80. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Steven W. Kohlhagen sold 1,440 shares of the company’s stock in a transaction dated Wednesday, June 12th. The shares were sold at an average price of $173.93, for a total transaction of $250,459.20. Following the transaction, the director now directly owns 24,809 shares of the company’s stock, valued at $4,315,029.37. The disclosure for this sale can be found here. Company insiders own 0.61% of the company’s stock.

Analyst Ratings Changes

A number of analysts recently weighed in on the stock. Robert W. Baird decreased their target price on shares of AMETEK from $173.00 to $171.00 and set a “neutral” rating on the stock in a report on Monday, May 6th. Oppenheimer raised shares of AMETEK from a “market perform” rating to an “outperform” rating and set a $200.00 price target on the stock in a report on Wednesday, May 22nd. StockNews.com raised AMETEK from a “hold” rating to a “buy” rating in a research note on Monday. Finally, Truist Financial decreased their target price on AMETEK from $210.00 to $204.00 and set a “buy” rating on the stock in a research note on Tuesday, July 2nd. Three analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $181.20.

AMETEK Price Performance

Shares of NYSE AME traded up $0.45 during trading hours on Tuesday, reaching $172.35. 878,335 shares of the stock traded hands, compared to its average volume of 1,049,737. The company’s 50-day simple moving average is $169.52 and its two-hundred day simple moving average is $172.60. The company has a market capitalization of $39.89 billion, a P/E ratio of 30.51, a price-to-earnings-growth ratio of 2.77 and a beta of 1.18. AMETEK, Inc. has a 52-week low of $136.89 and a 52-week high of $186.32. The company has a quick ratio of 0.66, a current ratio of 1.11 and a debt-to-equity ratio of 0.21.

AMETEK (NYSE:AME) last posted its quarterly earnings results on Thursday, May 2nd. The technology company reported $1.64 EPS for the quarter, topping the consensus estimate of $1.59 by $0.05. AMETEK had a net margin of 19.57% and a return on equity of 17.74%. The firm had revenue of $1.74 billion for the quarter, compared to the consensus estimate of $1.78 billion. During the same period last year, the firm posted $1.49 earnings per share. The business’s revenue was up 9.0% compared to the same quarter last year. Equities research analysts forecast that AMETEK, Inc. will post 6.81 EPS for the current year.

AMETEK Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, June 28th. Stockholders of record on Friday, June 14th were paid a dividend of $0.28 per share. The ex-dividend date of this dividend was Friday, June 14th. This represents a $1.12 dividend on an annualized basis and a dividend yield of 0.65%. AMETEK’s dividend payout ratio (DPR) is currently 19.68%.

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.