DAVENPORT & Co LLC Purchases 150 Shares of AMETEK, Inc. (NYSE:AME)

DAVENPORT & Co LLC lifted its position in AMETEK, Inc. (NYSE:AME) by 2.2% in the 4th quarter, HoldingsChannel.com reports. The fund owned 7,065 shares of the technology company’s stock after buying an additional 150 shares during the period. DAVENPORT & Co LLC’s holdings in AMETEK were worth $1,274,000 as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in AME. MassMutual Private Wealth & Trust FSB raised its holdings in shares of AMETEK by 4.5% in the 4th quarter. MassMutual Private Wealth & Trust FSB now owns 1,450 shares of the technology company’s stock valued at $261,000 after purchasing an additional 63 shares in the last quarter. Hutchens & Kramer Investment Management Group LLC raised its stake in AMETEK by 3.8% in the third quarter. Hutchens & Kramer Investment Management Group LLC now owns 1,764 shares of the technology company’s stock worth $298,000 after buying an additional 65 shares in the last quarter. AlphaMark Advisors LLC lifted its holdings in AMETEK by 2.1% during the fourth quarter. AlphaMark Advisors LLC now owns 3,348 shares of the technology company’s stock worth $604,000 after buying an additional 70 shares during the period. Geneos Wealth Management Inc. boosted its position in AMETEK by 42.9% during the 4th quarter. Geneos Wealth Management Inc. now owns 233 shares of the technology company’s stock valued at $42,000 after acquiring an additional 70 shares in the last quarter. Finally, Wallace Advisory Group LLC increased its holdings in shares of AMETEK by 5.8% in the 4th quarter. Wallace Advisory Group LLC now owns 1,371 shares of the technology company’s stock valued at $235,000 after acquiring an additional 75 shares during the period. 87.43% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of brokerages recently weighed in on AME. Mizuho upped their price objective on AMETEK from $190.00 to $200.00 and gave the stock an “outperform” rating in a research note on Friday, November 1st. Robert W. Baird decreased their price target on shares of AMETEK from $200.00 to $197.00 and set a “neutral” rating for the company in a research report on Wednesday. Truist Financial lifted their price objective on shares of AMETEK from $221.00 to $222.00 and gave the stock a “buy” rating in a research report on Thursday, January 16th. BNP Paribas raised shares of AMETEK from a “neutral” rating to an “outperform” rating and set a $210.00 target price for the company in a research report on Thursday, January 16th. Finally, Bank of America raised shares of AMETEK from a “neutral” rating to a “buy” rating and lifted their price target for the stock from $195.00 to $225.00 in a report on Monday, December 16th. One research analyst has rated the stock with a sell rating, three have given a hold rating, seven have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, AMETEK presently has an average rating of “Moderate Buy” and an average price target of $204.67.

AMETEK Trading Up 1.3 %

Shares of AMETEK stock opened at $182.64 on Friday. The firm’s 50 day simple moving average is $184.54 and its two-hundred day simple moving average is $176.61. The firm has a market capitalization of $42.25 billion, a price-to-earnings ratio of 31.82, a PEG ratio of 2.67 and a beta of 1.16. AMETEK, Inc. has a 12-month low of $149.03 and a 12-month high of $198.33. The company has a current ratio of 1.39, a quick ratio of 0.84 and a debt-to-equity ratio of 0.18.

AMETEK (NYSE:AME) last released its earnings results on Tuesday, February 4th. The technology company reported $1.87 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.85 by $0.02. AMETEK had a return on equity of 16.88% and a net margin of 19.27%. The firm had revenue of $1.76 billion for the quarter, compared to the consensus estimate of $1.82 billion. During the same period in the prior year, the firm earned $1.68 EPS. The firm’s revenue was up 1.8% on a year-over-year basis. Analysts predict that AMETEK, Inc. will post 6.8 EPS for the current year.

Insider Activity

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 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 position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, insider Tony J. Ciampitti sold 16,210 shares of the firm’s stock in a transaction that occurred 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 directly owns 49,490 shares in the company, valued at $9,750,024.90. The trade was a 24.67 % decrease in their position. The disclosure for this sale can be found here. Insiders own 0.61% of the company’s stock.

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.