First Trust Direct Indexing L.P. Has $1.01 Million Stock Position in AMETEK, Inc. (NYSE:AME)

First Trust Direct Indexing L.P. increased its position in AMETEK, Inc. (NYSE:AME) by 20.4% in the 1st quarter, HoldingsChannel.com reports. The institutional investor owned 5,526 shares of the technology company’s stock after purchasing an additional 936 shares during the quarter. First Trust Direct Indexing L.P.’s holdings in AMETEK were worth $1,011,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in AME. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main increased its position in shares of AMETEK by 11.2% during the fourth quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 1,669,394 shares of the technology company’s stock worth $275,266,000 after acquiring an additional 167,602 shares in the last quarter. Pacer Advisors Inc. grew its holdings in AMETEK by 161.0% during the fourth quarter. Pacer Advisors Inc. now owns 44,684 shares of the technology company’s stock worth $7,368,000 after buying an additional 27,562 shares in the last quarter. Tyche Wealth Partners LLC purchased a new stake in AMETEK in the 4th quarter valued at $6,275,000. Cim LLC bought a new position in AMETEK during the 4th quarter valued at $1,254,000. Finally, Nomura Holdings Inc. purchased a new position in AMETEK during the 4th quarter worth $768,000. 87.43% of the stock is owned by institutional investors.

AMETEK Stock Performance

NYSE AME opened at $166.30 on Friday. The firm has a market cap of $38.49 billion, a P/E ratio of 29.23, a price-to-earnings-growth ratio of 2.66 and a beta of 1.18. 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’s 50 day moving average is $169.62 and its 200-day moving average is $171.69. AMETEK, Inc. has a 12-month low of $136.89 and a 12-month high of $186.32.

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

AMETEK Announces Dividend

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

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on the stock. Truist Financial dropped their price target on shares of AMETEK from $210.00 to $204.00 and set a “buy” rating on the stock in a research report on Tuesday. StockNews.com cut shares of AMETEK from a “buy” rating to a “hold” rating in a research report on Tuesday, June 18th. Robert W. Baird decreased their price target on AMETEK from $173.00 to $171.00 and set a “neutral” rating for the company in a research report on Monday, May 6th. Finally, Oppenheimer raised AMETEK from a “market perform” rating to an “outperform” rating and set a $200.00 price objective on the stock in a research report on Wednesday, May 22nd. Four equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $181.20.

Insiders Place Their Bets

In other news, Director Steven W. Kohlhagen sold 1,440 shares of AMETEK stock in a transaction dated 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 owns 24,809 shares in the company, valued at $4,315,029.37. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. In related news, Director Steven W. Kohlhagen sold 1,440 shares of AMETEK stock in a transaction on 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 sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Steven W. Kohlhagen sold 1,470 shares of the company’s stock in a transaction that occurred 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 transaction, the director now directly owns 26,249 shares of the company’s stock, valued at approximately $4,467,579.80. The disclosure for this sale can be found here. 0.61% of the stock is currently owned by insiders.

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.