Moors & Cabot Inc. Increases Stock Holdings in AMETEK, Inc. (NYSE:AME)

Moors & Cabot Inc. lifted its stake in shares of AMETEK, Inc. (NYSE:AME) by 2.9% during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 18,861 shares of the technology company’s stock after acquiring an additional 539 shares during the period. Moors & Cabot Inc.’s holdings in AMETEK were worth $3,239,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also modified their holdings of AME. Lake Street Advisors Group LLC grew its holdings in AMETEK by 15.8% in the first quarter. Lake Street Advisors Group LLC now owns 1,709 shares of the technology company’s stock valued at $312,000 after purchasing an additional 233 shares during the last quarter. CANADA LIFE ASSURANCE Co lifted its holdings in AMETEK by 9.3% during the 1st quarter. CANADA LIFE ASSURANCE Co now owns 132,853 shares of the technology company’s stock worth $24,301,000 after buying an additional 11,327 shares during the last quarter. Pitcairn Co. bought a new position in AMETEK during the 1st quarter worth approximately $224,000. Natixis lifted its holdings in shares of AMETEK by 48.4% in the 1st quarter. Natixis now owns 19,186 shares of the technology company’s stock worth $3,509,000 after purchasing an additional 6,254 shares during the last quarter. Finally, CreativeOne Wealth LLC acquired a new stake in AMETEK in the 1st quarter valued at approximately $388,000. Hedge funds and other institutional investors own 87.43% of the company’s stock.

Insider Transactions at AMETEK

In related news, insider David F. Hermance sold 6,243 shares of AMETEK stock in a transaction on Friday, November 8th. The shares were sold at an average price of $190.99, for a total value of $1,192,350.57. Following the transaction, the insider now directly owns 36,731 shares in the company, valued at $7,015,253.69. This trade represents a 14.53 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Steven W. Kohlhagen sold 1,460 shares of AMETEK stock in a transaction dated Wednesday, September 25th. The stock was sold at an average price of $171.59, for a total value of $250,521.40. Following the sale, the director now owns 23,349 shares of the company’s stock, valued at approximately $4,006,454.91. This represents a 5.88 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.61% of the company’s stock.

Analyst Ratings Changes

Several analysts have recently commented on the company. Wolfe Research raised AMETEK to a “hold” rating in a research report on Wednesday, September 18th. StockNews.com cut AMETEK from a “buy” rating to a “hold” rating in a report on Friday, November 15th. Truist Financial increased their price target on AMETEK from $219.00 to $221.00 and gave the stock a “buy” rating in a research report on Friday, November 1st. Royal Bank of Canada cut their price target on AMETEK from $216.00 to $215.00 and set an “outperform” rating on the stock in a research note on Friday, August 2nd. Finally, Mizuho lifted their price target on AMETEK from $190.00 to $200.00 and gave the company an “outperform” rating in a research note on Friday, November 1st. One investment analyst has rated the stock with a sell rating, three have issued a hold rating, five have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, AMETEK presently has an average rating of “Moderate Buy” and an average target price of $197.86.

AMETEK Stock Down 0.1 %

Shares of AME stock opened at $193.33 on Thursday. The stock has a market cap of $44.72 billion, a P/E ratio of 33.68, a P/E/G ratio of 3.15 and a beta of 1.16. AMETEK, Inc. has a 12 month low of $149.03 and a 12 month high of $196.70. The company has a 50 day simple moving average of $175.30 and a two-hundred day simple moving average of $170.32. The company has a current ratio of 1.39, a quick ratio of 0.84 and a debt-to-equity ratio of 0.18.

AMETEK (NYSE:AME) last announced its quarterly earnings data 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. AMETEK had a net margin of 19.27% and a return on equity of 16.88%. The company had revenue of $1.71 billion during the quarter, compared to analyst estimates of $1.71 billion. During the same quarter last year, the business posted $1.64 EPS. The firm’s revenue for the quarter was up 5.3% on a year-over-year basis. On average, research analysts expect that AMETEK, Inc. will post 6.81 earnings per share for the current year.

AMETEK Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, December 20th. Shareholders of record on Friday, December 6th will be given a $0.28 dividend. The ex-dividend date is Friday, December 6th. This represents a $1.12 dividend on an annualized basis and a yield of 0.58%. AMETEK’s payout ratio is currently 19.51%.

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.