Edgestream Partners L.P. Makes New Investment in AMETEK, Inc. (NYSE:AME)

Edgestream Partners L.P. acquired a new stake in AMETEK, Inc. (NYSE:AME - Free Report) during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 5,808 shares of the technology company's stock, valued at approximately $997,000.

Several other institutional investors have also recently modified their holdings of AME. Bank of New York Mellon Corp increased its stake in shares of AMETEK by 34.6% in the second quarter. Bank of New York Mellon Corp now owns 3,602,753 shares of the technology company's stock worth $600,615,000 after acquiring an additional 926,657 shares during the period. Meridiem Investment Management Ltd. acquired a new position in shares of AMETEK in the 3rd quarter valued at about $130,579,000. Principal Financial Group Inc. boosted its stake in shares of AMETEK by 72.0% in the third quarter. Principal Financial Group Inc. now owns 1,680,309 shares of the technology company's stock worth $288,526,000 after buying an additional 703,501 shares during the last quarter. D1 Capital Partners L.P. acquired a new stake in AMETEK during the third quarter worth about $79,782,000. Finally, James Hambro & Partners LLP purchased a new position in AMETEK during the third quarter valued at approximately $60,188,000. 87.43% of the stock is currently owned by hedge funds and other institutional investors.

AMETEK Price Performance

AME traded down $1.04 on Thursday, hitting $193.96. 1,386,671 shares of the company's stock were exchanged, compared to its average volume of 1,156,020. AMETEK, Inc. has a fifty-two week low of $149.03 and a fifty-two week 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. The stock has a market cap of $44.86 billion, a price-to-earnings ratio of 33.97, a P/E/G ratio of 3.17 and a beta of 1.15. The firm has a 50-day moving average price of $180.49 and a 200-day moving average price of $172.18.

AMETEK (NYSE:AME - Get Free Report) last issued its earnings results on Thursday, October 31st. The technology company reported $1.66 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.62 by $0.04. AMETEK had a return on equity of 16.88% and a net margin of 19.27%. The business had revenue of $1.71 billion during the quarter, compared to the consensus estimate of $1.71 billion. During the same period last year, the company earned $1.64 EPS. The company's revenue for the quarter was up 5.3% on a year-over-year basis. As a group, equities analysts anticipate 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 will be paid on Friday, December 20th. Stockholders of record on Friday, December 6th will be issued a dividend of $0.28 per share. The ex-dividend date of this dividend is Friday, December 6th. This represents a $1.12 dividend on an annualized basis and a dividend yield of 0.58%. AMETEK's dividend payout ratio is currently 19.51%.

Insider Activity

In related news, insider Tony J. Ciampitti sold 16,210 shares of the business's stock in a transaction on Friday, November 22nd. The stock was sold at an average price of $197.01, for a total value of $3,193,532.10. Following the sale, the insider now owns 49,490 shares in the company, valued at approximately $9,750,024.90. The trade was a 24.67 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Steven W. Kohlhagen sold 1,460 shares of the stock in a transaction dated Wednesday, September 25th. The stock was sold at an average price of $171.59, for a total value of $250,521.40. Following the transaction, the director now directly owns 23,349 shares in the company, valued at approximately $4,006,454.91. The trade was a 5.88 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 30,660 shares of company stock valued at $5,958,141. 0.61% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

AME has been the topic of a number of analyst reports. Mizuho raised their price objective on shares of AMETEK from $190.00 to $200.00 and gave the stock an "outperform" rating in a research note on Friday, November 1st. Wolfe Research upgraded shares of AMETEK to a "hold" rating in a research report on Wednesday, September 18th. Robert W. Baird increased 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. Truist Financial upped their price target on AMETEK from $219.00 to $221.00 and gave the stock a "buy" rating in a report on Friday, November 1st. Finally, KeyCorp raised their price objective on AMETEK from $205.00 to $215.00 and gave the company an "overweight" rating in a report on Friday, November 22nd. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat, AMETEK has an average rating of "Moderate Buy" and a consensus target price of $199.29.

AMETEK 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.