AMETEK, Inc. (NYSE:AME) Shares Purchased by MorganRosel Wealth Management LLC

MorganRosel Wealth Management LLC lifted its holdings in AMETEK, Inc. (NYSE:AME) by 4.7% during the first quarter, Holdings Channel reports. The fund owned 3,825 shares of the technology company’s stock after buying an additional 170 shares during the quarter. MorganRosel Wealth Management LLC’s holdings in AMETEK were worth $700,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the business. Mayfair Advisory Group LLC increased its stake in shares of AMETEK by 3.4% in the first quarter. Mayfair Advisory Group LLC now owns 8,565 shares of the technology company’s stock worth $1,567,000 after acquiring an additional 283 shares during the period. Kingswood Wealth Advisors LLC grew its position in AMETEK by 16.6% during the first quarter. Kingswood Wealth Advisors LLC now owns 2,186 shares of the technology company’s stock valued at $400,000 after buying an additional 312 shares during the period. Global Assets Advisory LLC acquired a new stake in AMETEK during the first quarter valued at $3,301,000. Salem Investment Counselors Inc. grew its position in AMETEK by 93.3% during the first quarter. Salem Investment Counselors Inc. now owns 574 shares of the technology company’s stock valued at $105,000 after buying an additional 277 shares during the period. Finally, &PARTNERS acquired a new stake in AMETEK during the first quarter valued at $234,000. Institutional investors and hedge funds own 87.43% of the company’s stock.

Insider Transactions at AMETEK

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

Wall Street Analysts Forecast Growth

AME has been the topic of several analyst reports. Truist Financial initiated coverage on shares of AMETEK in a research report on Thursday, March 14th. They set a “buy” rating and a $210.00 price target on the stock. Oppenheimer upgraded shares of AMETEK from a “market perform” rating to an “outperform” rating and set a $200.00 price target on the stock in a research report on Wednesday, May 22nd. StockNews.com lowered shares of AMETEK from a “buy” rating to a “hold” rating in a research report on Tuesday, June 18th. Finally, Robert W. Baird dropped their price target on shares of AMETEK from $173.00 to $171.00 and set a “neutral” rating on the stock in a research report on Monday, May 6th. Four investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $181.80.

AMETEK Stock Performance

AME opened at $166.71 on Monday. The firm’s fifty day simple moving average is $170.61 and its two-hundred day simple moving average is $171.74. The company has a quick ratio of 0.66, a current ratio of 1.11 and a debt-to-equity ratio of 0.21. The company has a market cap of $38.59 billion, a price-to-earnings ratio of 29.30, a PEG ratio of 2.67 and a beta of 1.18. AMETEK, Inc. has a 52-week low of $136.89 and a 52-week high of $186.32.

AMETEK (NYSE:AME) last posted its quarterly earnings results on Thursday, May 2nd. The technology company reported $1.64 earnings per share for the quarter, topping the consensus estimate of $1.59 by $0.05. The firm had revenue of $1.74 billion for the quarter, compared to the consensus estimate of $1.78 billion. AMETEK had a net margin of 19.57% and a return on equity of 17.74%. The company’s revenue for the quarter was up 9.0% on a year-over-year basis. During the same period last year, the firm posted $1.49 earnings per share. Equities analysts anticipate that AMETEK, Inc. will post 6.83 earnings per share for the current fiscal year.

AMETEK Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, June 28th. Stockholders of record on Friday, June 14th were paid a $0.28 dividend. This represents a $1.12 annualized dividend and a dividend yield of 0.67%. The ex-dividend date of this dividend was Friday, June 14th. AMETEK’s dividend payout ratio is currently 19.68%.

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.