HB Wealth Management LLC Sells 266 Shares of AMETEK, Inc. (NYSE:AME)

HB Wealth Management LLC decreased its stake in AMETEK, Inc. (NYSE:AME) by 4.8% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 5,300 shares of the technology company’s stock after selling 266 shares during the period. HB Wealth Management LLC’s holdings in AMETEK were worth $955,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently made changes to their positions in AME. Merit Financial Group LLC purchased a new stake in AMETEK during the fourth quarter valued at about $258,000. Procyon Advisors LLC raised its holdings in shares of AMETEK by 7.8% during the 4th quarter. Procyon Advisors LLC now owns 2,146 shares of the technology company’s stock valued at $387,000 after buying an additional 155 shares in the last quarter. Argent Capital Management LLC lifted its position in AMETEK by 8.5% in the 4th quarter. Argent Capital Management LLC now owns 22,748 shares of the technology company’s stock worth $4,101,000 after buying an additional 1,788 shares during the last quarter. Park Avenue Securities LLC boosted its stake in AMETEK by 2.5% in the fourth quarter. Park Avenue Securities LLC now owns 6,588 shares of the technology company’s stock worth $1,188,000 after buying an additional 160 shares in the last quarter. Finally, Assenagon Asset Management S.A. raised its stake in shares of AMETEK by 434.5% during the fourth quarter. Assenagon Asset Management S.A. now owns 541,517 shares of the technology company’s stock worth $97,614,000 after acquiring an additional 440,197 shares in the last quarter. Hedge funds and other institutional investors own 87.43% of the company’s stock.

Wall Street Analysts Forecast Growth

AME has been the subject of a number of research reports. BNP Paribas raised shares of AMETEK from a “neutral” rating to an “outperform” rating and set a $210.00 target price on the stock in a report on Thursday, January 16th. Truist Financial raised their price objective on AMETEK from $221.00 to $222.00 and gave the company a “buy” rating in a research note on Thursday, January 16th. Mizuho increased their target price on AMETEK from $190.00 to $200.00 and gave the company an “outperform” rating in a report on Friday, November 1st. KeyCorp lifted their price target on AMETEK from $205.00 to $215.00 and gave the stock an “overweight” rating in a research note on Friday, November 22nd. Finally, TD Cowen lowered AMETEK from a “hold” rating to a “sell” rating in a research note on Monday, October 7th. One analyst has rated the stock with a sell rating, three have issued a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $203.44.

Insider Buying and Selling

In other AMETEK news, insider Emanuela Speranza sold 6,747 shares of the company’s stock in a transaction dated Tuesday, November 26th. The shares were sold at an average price of $195.90, for a total value of $1,321,737.30. Following the sale, the insider now owns 30,460 shares in the company, valued at approximately $5,967,114. This represents a 18.13 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider David F. Hermance sold 6,243 shares of AMETEK stock in a transaction that occurred on Friday, November 8th. The shares were sold at an average price of $190.99, for a total transaction of $1,192,350.57. Following the transaction, the insider now owns 36,731 shares of the company’s stock, valued at $7,015,253.69. The trade was a 14.53 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 29,200 shares of company stock valued at $5,707,620 over the last ninety days. Company insiders own 0.61% of the company’s stock.

AMETEK Stock Performance

Shares of AME stock opened at $184.73 on Wednesday. The firm has a market capitalization of $42.73 billion, a price-to-earnings ratio of 32.18, a PEG ratio of 2.61 and a beta of 1.16. The stock has a fifty day moving average of $186.95 and a 200 day moving average of $175.35. AMETEK, Inc. has a 52 week low of $149.03 and a 52 week high of $198.33. The company has a quick ratio of 0.84, a current ratio of 1.39 and a debt-to-equity ratio of 0.18.

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

AMETEK Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, December 20th. Investors of record on Friday, December 6th were given a dividend of $0.28 per share. The ex-dividend date of this dividend was Friday, December 6th. This represents a $1.12 annualized dividend and a dividend yield of 0.61%. AMETEK’s dividend payout ratio is presently 19.51%.

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.