Aaron Wealth Advisors LLC Invests $227,000 in AMETEK, Inc. (NYSE:AME)

Aaron Wealth Advisors LLC acquired a new stake in AMETEK, Inc. (NYSE:AME) in the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor acquired 1,262 shares of the technology company’s stock, valued at approximately $227,000.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. State Street Corp grew its position in shares of AMETEK by 0.3% in the third quarter. State Street Corp now owns 9,220,376 shares of the technology company’s stock valued at $1,583,231,000 after purchasing an additional 24,072 shares in the last quarter. JPMorgan Chase & Co. grew its holdings in AMETEK by 3.7% in the 3rd quarter. JPMorgan Chase & Co. now owns 6,985,350 shares of the technology company’s stock valued at $1,199,454,000 after buying an additional 250,538 shares in the last quarter. Geode Capital Management LLC increased its stake in shares of AMETEK by 0.8% in the 3rd quarter. Geode Capital Management LLC now owns 5,401,656 shares of the technology company’s stock worth $924,308,000 after acquiring an additional 45,459 shares during the last quarter. EdgePoint Investment Group Inc. raised its holdings in shares of AMETEK by 87.9% during the 3rd quarter. EdgePoint Investment Group Inc. now owns 1,964,236 shares of the technology company’s stock worth $337,279,000 after acquiring an additional 918,737 shares during the period. Finally, Principal Financial Group Inc. boosted its position in shares of AMETEK by 72.0% during the 3rd quarter. Principal Financial Group Inc. now owns 1,680,309 shares of the technology company’s stock valued at $288,526,000 after acquiring an additional 703,501 shares during the last quarter. Hedge funds and other institutional investors own 87.43% of the company’s stock.

AMETEK Stock Up 2.2 %

Shares of NYSE AME opened at $184.73 on Wednesday. AMETEK, Inc. has a 12-month low of $149.03 and a 12-month high of $198.33. The stock has a market cap of $42.73 billion, a P/E ratio of 32.18, a PEG ratio of 2.61 and a beta of 1.16. The company has a current ratio of 1.39, a quick ratio of 0.84 and a debt-to-equity ratio of 0.18. The business’s fifty day simple moving average is $186.95 and its 200-day simple moving average is $175.35.

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

AMETEK Dividend Announcement

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

Insider Activity at AMETEK

In other news, insider David F. Hermance sold 6,243 shares of the company’s stock in a transaction on Friday, November 8th. The shares were sold at an average price of $190.99, for a total value of $1,192,350.57. Following the completion of the transaction, the insider now owns 36,731 shares in the company, valued at approximately $7,015,253.69. This represents a 14.53 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, insider Tony J. Ciampitti sold 16,210 shares of AMETEK stock in a transaction on Friday, November 22nd. The stock was sold at an average price of $197.01, for a total transaction of $3,193,532.10. Following the sale, the insider now owns 49,490 shares in the company, valued at $9,750,024.90. This represents a 24.67 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 29,200 shares of company stock valued at $5,707,620 over the last quarter. 0.61% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on AME shares. Robert W. Baird lifted their target price on shares of AMETEK from $166.00 to $186.00 and gave the stock a “neutral” rating in a research note on Monday, November 4th. KeyCorp lifted their price target on shares of AMETEK from $205.00 to $215.00 and gave the company an “overweight” rating in a research report on Friday, November 22nd. BNP Paribas upgraded AMETEK from a “neutral” rating to an “outperform” rating and set a $210.00 price objective for the company in a research report on Thursday, January 16th. Truist Financial lifted their target price on AMETEK from $221.00 to $222.00 and gave the company a “buy” rating in a research report on Thursday, January 16th. Finally, Mizuho increased their price target on AMETEK from $190.00 to $200.00 and gave the stock an “outperform” rating in a report on Friday, November 1st. One analyst has rated the stock with a sell rating, three have given a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $203.44.

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.