Absher Wealth Management LLC Takes Position in AMETEK, Inc. (NYSE:AME)

Absher Wealth Management LLC purchased a new position in shares of AMETEK, Inc. (NYSE:AME - Free Report) during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 7,138 shares of the technology company's stock, valued at approximately $1,226,000.

Other institutional investors have also recently made changes to their positions in the company. JPMorgan Chase & Co. grew its position in shares of AMETEK by 48.4% during the first quarter. JPMorgan Chase & Co. now owns 7,075,565 shares of the technology company's stock worth $1,294,121,000 after buying an additional 2,306,535 shares in the last quarter. Price T Rowe Associates Inc. MD raised its holdings in shares of AMETEK by 0.7% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 6,536,231 shares of the technology company's stock valued at $1,195,478,000 after purchasing an additional 44,899 shares in the last quarter. Bank of New York Mellon Corp lifted its position in shares of AMETEK by 34.6% during the 2nd quarter. Bank of New York Mellon Corp now owns 3,602,753 shares of the technology company's stock worth $600,615,000 after purchasing an additional 926,657 shares during the last quarter. Boston Partners grew its stake in shares of AMETEK by 3.0% during the first quarter. Boston Partners now owns 3,063,588 shares of the technology company's stock worth $560,278,000 after purchasing an additional 90,271 shares in the last quarter. Finally, Flossbach Von Storch AG raised its stake in AMETEK by 3.4% in the first quarter. Flossbach Von Storch AG now owns 2,673,507 shares of the technology company's stock valued at $488,984,000 after buying an additional 87,477 shares in the last quarter. Institutional investors and hedge funds own 87.43% of the company's stock.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on the company. Royal Bank of Canada cut their target price on AMETEK from $216.00 to $215.00 and set an "outperform" rating on the stock in a research report on Friday, August 2nd. Truist Financial upped their target price on shares of AMETEK from $219.00 to $221.00 and gave the company a "buy" rating in a report on Friday. Redburn Atlantic upgraded shares of AMETEK to a "strong-buy" rating in a research note on Friday, August 2nd. StockNews.com downgraded shares of AMETEK from a "buy" rating to a "hold" rating in a research note on Tuesday, August 6th. Finally, TD Cowen cut AMETEK from a "hold" rating to a "sell" rating in a research report on Monday, October 7th. One analyst has rated the stock with a sell rating, three have issued a hold rating, five have assigned a buy rating and one has issued 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 a consensus target price of $195.00.

AMETEK Stock Performance

Shares of AMETEK stock traded down $4.55 on Friday, reaching $178.79. 1,357,237 shares of the stock were exchanged, compared to its average volume of 1,141,259. The company has a current ratio of 1.26, a quick ratio of 0.76 and a debt-to-equity ratio of 0.20. The firm has a market capitalization of $41.40 billion, a PE ratio of 31.25, a PEG ratio of 2.77 and a beta of 1.17. AMETEK, Inc. has a 1-year low of $141.26 and a 1-year high of $186.32. The business has a fifty day moving average price of $168.95 and a two-hundred day moving average price of $169.00.

AMETEK (NYSE:AME - Get Free Report) last issued its earnings results on Thursday, October 31st. The technology company reported $1.66 earnings per share for the quarter, topping the consensus estimate of $1.62 by $0.04. AMETEK had a net margin of 19.51% and a return on equity of 17.41%. The company had revenue of $1.71 billion for the quarter, compared to analyst estimates of $1.71 billion. During the same period in the prior year, the business posted $1.64 earnings per share. The firm's revenue for the quarter was up 5.3% compared to the same quarter last year. As a group, research analysts anticipate that AMETEK, Inc. will post 6.76 earnings per share for the current fiscal year.

AMETEK Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, September 30th. Stockholders of record on Monday, September 16th were given a $0.28 dividend. The ex-dividend date was Monday, September 16th. This represents a $1.12 annualized dividend and a dividend yield of 0.63%. AMETEK's dividend payout ratio is currently 19.51%.

Insider Activity at AMETEK

In other news, Director Steven W. Kohlhagen sold 1,460 shares of AMETEK stock in a transaction dated Wednesday, September 25th. The shares were sold at an average price of $171.59, for a total transaction of $250,521.40. Following the completion of the sale, the director now directly owns 23,349 shares in the company, valued at $4,006,454.91. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Corporate insiders own 0.61% of the company's stock.

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.