Legacy Wealth Management LLC MS Acquires 120 Shares of AMETEK, Inc. (NYSE:AME)

Legacy Wealth Management LLC MS raised its holdings in shares of AMETEK, Inc. (NYSE:AME) by 4.2% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 2,974 shares of the technology company’s stock after acquiring an additional 120 shares during the quarter. Legacy Wealth Management LLC MS’s holdings in AMETEK were worth $536,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also recently made changes to their positions in the company. State Street Corp lifted its holdings in AMETEK by 0.3% during the 3rd quarter. State Street Corp now owns 9,220,376 shares of the technology company’s stock worth $1,583,231,000 after purchasing an additional 24,072 shares in the last quarter. JPMorgan Chase & Co. lifted its holdings in shares of AMETEK by 3.7% in the third quarter. JPMorgan Chase & Co. now owns 6,985,350 shares of the technology company’s stock worth $1,199,454,000 after buying an additional 250,538 shares in the last quarter. Geode Capital Management LLC boosted its position in shares of AMETEK by 0.8% in the third quarter. Geode Capital Management LLC now owns 5,401,656 shares of the technology company’s stock valued at $924,308,000 after acquiring an additional 45,459 shares during the period. EdgePoint Investment Group Inc. grew its stake in AMETEK by 87.9% during the third quarter. EdgePoint Investment Group Inc. now owns 1,964,236 shares of the technology company’s stock valued at $337,279,000 after acquiring an additional 918,737 shares in the last quarter. Finally, Dimensional Fund Advisors LP increased its holdings in AMETEK by 8.6% during the 2nd quarter. Dimensional Fund Advisors LP now owns 1,882,166 shares of the technology company’s stock worth $313,777,000 after acquiring an additional 148,447 shares during the period. Hedge funds and other institutional investors own 87.43% of the company’s stock.

AMETEK Price Performance

AME traded up $1.63 during midday trading on Monday, hitting $181.20. The stock had a trading volume of 44,676 shares, compared to its average volume of 423,908. The company has a market cap of $41.91 billion, a P/E ratio of 31.57, a price-to-earnings-growth ratio of 3.08 and a beta of 1.16. AMETEK, Inc. has a 1 year low of $149.03 and a 1 year high of $198.33. The business has a fifty day moving average of $187.38 and a 200 day moving average of $174.45. The company has a debt-to-equity ratio of 0.18, a quick ratio of 0.84 and a current ratio of 1.39.

AMETEK (NYSE:AME) last released its earnings results on Thursday, October 31st. The technology company reported $1.66 EPS for the quarter, beating the consensus estimate of $1.62 by $0.04. The company had revenue of $1.71 billion for the quarter, compared to analyst estimates of $1.71 billion. AMETEK had a net margin of 19.27% and a return on equity of 16.88%. The firm’s quarterly revenue was up 5.3% compared to the same quarter last year. During the same quarter last year, the firm earned $1.64 EPS. As a group, equities analysts forecast that AMETEK, Inc. will post 6.8 earnings per share for the current fiscal year.

AMETEK Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, December 20th. Stockholders of record on Friday, December 6th were paid a $0.28 dividend. This represents a $1.12 dividend on an annualized basis and a dividend yield of 0.62%. The ex-dividend date of this dividend was Friday, December 6th. AMETEK’s dividend payout ratio (DPR) is presently 19.51%.

Insider Activity at AMETEK

In other AMETEK news, insider Emanuela Speranza sold 6,747 shares of the company’s stock in a transaction that occurred on Tuesday, November 26th. The stock was sold at an average price of $195.90, for a total transaction of $1,321,737.30. Following the completion of the transaction, the insider now owns 30,460 shares of the company’s stock, valued at $5,967,114. This represents a 18.13 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider David F. Hermance sold 6,243 shares of the firm’s stock in a transaction on Friday, November 8th. The stock was sold at an average price of $190.99, for a total value of $1,192,350.57. Following the completion of the sale, the insider now directly owns 36,731 shares of the company’s stock, valued at $7,015,253.69. The trade was a 14.53 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 29,200 shares of company stock worth $5,707,620 in the last ninety days. 0.61% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

AME has been the subject of several analyst reports. StockNews.com downgraded shares of AMETEK from a “buy” rating to a “hold” rating in a report on Wednesday, January 1st. Wolfe Research upgraded AMETEK to a “hold” rating in a research report on Wednesday, September 18th. Mizuho raised their price target on AMETEK from $190.00 to $200.00 and gave the company an “outperform” rating in a report on Friday, November 1st. KeyCorp boosted their price objective on AMETEK from $205.00 to $215.00 and gave the stock an “overweight” rating in a report on Friday, November 22nd. Finally, Truist Financial upped their price objective on shares of AMETEK from $219.00 to $221.00 and gave the stock a “buy” rating in a research report on Friday, November 1st. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $202.50.

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.