Ashton Thomas Private Wealth LLC Invests $61,000 in AMETEK, Inc. (NYSE:AME)

Ashton Thomas Private Wealth LLC bought a new position in AMETEK, Inc. (NYSE:AME) in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund bought 365 shares of the technology company’s stock, valued at approximately $61,000.

A number of other large investors have also recently added to or reduced their stakes in the stock. Ballentine Partners LLC boosted its holdings in shares of AMETEK by 1.9% during the 2nd quarter. Ballentine Partners LLC now owns 3,875 shares of the technology company’s stock worth $646,000 after buying an additional 71 shares during the period. Emerald Advisers LLC bought a new stake in AMETEK during the second quarter valued at about $125,000. Anchor Capital Advisors LLC acquired a new stake in shares of AMETEK in the second quarter valued at about $456,000. Acadian Asset Management LLC increased its stake in shares of AMETEK by 11.0% in the second quarter. Acadian Asset Management LLC now owns 430,709 shares of the technology company’s stock worth $71,786,000 after purchasing an additional 42,577 shares during the period. Finally, Advisor OS LLC acquired a new position in shares of AMETEK during the 2nd quarter worth about $1,705,000. Institutional investors own 87.43% of the company’s stock.

AMETEK Trading Up 0.4 %

Shares of NYSE AME opened at $167.51 on Monday. AMETEK, Inc. has a 1-year low of $136.89 and a 1-year high of $186.32. The company has a 50-day moving average of $166.25 and a two-hundred day moving average of $171.64. The company has a market cap of $38.79 billion, a PE ratio of 29.44, a P/E/G ratio of 2.71 and a beta of 1.17. The company has a current ratio of 1.26, a quick ratio of 0.76 and a debt-to-equity ratio of 0.20.

AMETEK (NYSE:AME) last posted its quarterly earnings data on Thursday, August 1st. The technology company reported $1.66 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.64 by $0.02. The firm had revenue of $1.73 billion for the quarter, compared to the consensus estimate of $1.78 billion. AMETEK had a return on equity of 17.41% and a net margin of 19.51%. The business’s revenue for the quarter was up 5.4% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.57 EPS. As a group, equities analysts expect that AMETEK, Inc. will post 6.77 earnings per share for the current fiscal year.

AMETEK Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, September 30th. Investors of record on Monday, September 16th will be given a $0.28 dividend. The ex-dividend date of this dividend is Monday, September 16th. This represents a $1.12 dividend on an annualized basis and a yield of 0.67%. AMETEK’s payout ratio is 19.68%.

Wall Street Analyst Weigh In

AME has been the topic of several recent analyst reports. Redburn Atlantic raised AMETEK to a “strong-buy” rating in a research report on Friday, August 2nd. StockNews.com cut shares of AMETEK from a “buy” rating to a “hold” rating in a research note on Tuesday, August 6th. TD Cowen cut their price target on AMETEK from $165.00 to $158.00 and set a “hold” rating for the company in a report on Monday, August 5th. Oppenheimer upgraded 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. Finally, Truist Financial reduced their target price on AMETEK from $204.00 to $201.00 and set a “buy” rating for the company in a research report on Friday, August 2nd. Four equities research analysts have rated the stock with a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, AMETEK currently has an average rating of “Moderate Buy” and an average price target of $186.29.

AMETEK Company 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.