Cwm LLC Raises Stake in AMETEK, Inc. (NYSE:AME)

Cwm LLC boosted its holdings in shares of AMETEK, Inc. (NYSE:AME) by 88.4% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 6,883 shares of the technology company’s stock after acquiring an additional 3,230 shares during the period. Cwm LLC’s holdings in AMETEK were worth $1,259,000 at the end of the most recent reporting period.

A number of other large investors also recently bought and sold shares of AME. Kestra Advisory Services LLC lifted its position in AMETEK by 487.9% during the 3rd quarter. Kestra Advisory Services LLC now owns 17,155 shares of the technology company’s stock valued at $2,535,000 after acquiring an additional 14,237 shares during the period. Rafferty Asset Management LLC increased its stake in AMETEK by 10.4% during the 3rd quarter. Rafferty Asset Management LLC now owns 18,347 shares of the technology company’s stock valued at $2,711,000 after purchasing an additional 1,735 shares in the last quarter. QRG Capital Management Inc. bought a new stake in AMETEK during the 3rd quarter valued at about $1,453,000. Envestnet Portfolio Solutions Inc. bought a new stake in AMETEK during the 3rd quarter valued at about $1,891,000. Finally, Envestnet Asset Management Inc. increased its stake in AMETEK by 38.7% during the 3rd quarter. Envestnet Asset Management Inc. now owns 271,235 shares of the technology company’s stock valued at $40,078,000 after purchasing an additional 75,733 shares in the last quarter. 87.43% of the stock is owned by hedge funds and other institutional investors.

AMETEK Stock Performance

AME opened at $170.90 on Thursday. The company has a current ratio of 1.11, a quick ratio of 0.66 and a debt-to-equity ratio of 0.21. The company has a market cap of $39.56 billion, a price-to-earnings ratio of 30.04, a PEG ratio of 2.70 and a beta of 1.20. The company’s 50 day moving average is $172.10 and its 200 day moving average is $171.14. AMETEK, Inc. has a 12-month low of $136.89 and a 12-month high of $186.32.

AMETEK (NYSE:AME) last posted its quarterly earnings data on Thursday, May 2nd. The technology company reported $1.64 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.59 by $0.05. The company had revenue of $1.74 billion for the quarter, compared to the consensus estimate of $1.78 billion. AMETEK had a net margin of 19.57% and a return on equity of 17.74%. The firm’s revenue was up 9.0% compared to the same quarter last year. During the same quarter last year, the firm posted $1.49 earnings per share. On average, equities research analysts predict that AMETEK, Inc. will post 6.83 EPS for the current year.

AMETEK Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, June 28th. Investors of record on Friday, June 14th will be issued a $0.28 dividend. This represents a $1.12 dividend on an annualized basis and a dividend yield of 0.66%. The ex-dividend date of this dividend is Friday, June 14th. AMETEK’s payout ratio is 19.68%.

Insider Buying and Selling

In related news, Director Steven W. Kohlhagen sold 1,470 shares of the firm’s stock in a transaction that occurred on Wednesday, May 15th. The shares were sold at an average price of $170.20, for a total value of $250,194.00. Following the transaction, the director now owns 26,249 shares of the company’s stock, valued at $4,467,579.80. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In other AMETEK news, Director Thomas A. Amato sold 780 shares of AMETEK stock in a transaction that occurred on Tuesday, March 26th. The shares were sold at an average price of $182.00, for a total transaction of $141,960.00. Following the transaction, the director now owns 10,240 shares of the company’s stock, valued at $1,863,680. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Steven W. Kohlhagen sold 1,470 shares of AMETEK stock in a transaction that occurred on Wednesday, May 15th. The shares were sold at an average price of $170.20, for a total transaction of $250,194.00. Following the transaction, the director now directly owns 26,249 shares in the company, valued at approximately $4,467,579.80. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 3,690 shares of company stock valued at $642,613. 0.61% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on AME. KeyCorp raised their price objective on shares of AMETEK from $182.00 to $205.00 and gave the company an “overweight” rating in a research note on Tuesday, February 27th. StockNews.com lowered shares of AMETEK from a “buy” rating to a “hold” rating in a research note on Tuesday. Robert W. Baird reduced their price objective on shares of AMETEK from $173.00 to $171.00 and set a “neutral” rating for the company in a research note on Monday, May 6th. Truist Financial initiated coverage on shares of AMETEK in a research note on Thursday, March 14th. They issued a “buy” rating and a $210.00 price target for the company. Finally, Oppenheimer upgraded shares of AMETEK from a “market perform” rating to an “outperform” rating and set a $200.00 price target for the company in a research note on Wednesday, May 22nd. Four analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $181.80.

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.