Norden Group LLC Invests $2.51 Million in AMETEK, Inc. (NYSE:AME)

Norden Group LLC purchased a new stake in shares of AMETEK, Inc. (NYSE:AME) during the 1st quarter, according to its most recent disclosure with the SEC. The fund purchased 13,710 shares of the technology company’s stock, valued at approximately $2,508,000.

Other institutional investors have also added to or reduced their stakes in the company. Norges Bank bought a new position in AMETEK in the 4th quarter valued at approximately $589,098,000. Morgan Stanley lifted its position in shares of AMETEK by 19.2% in the 3rd quarter. Morgan Stanley now owns 4,189,108 shares of the technology company’s stock worth $618,983,000 after purchasing an additional 674,549 shares during the period. Bank Julius Baer & Co. Ltd Zurich boosted its stake in shares of AMETEK by 4,845.8% in the 4th quarter. Bank Julius Baer & Co. Ltd Zurich now owns 677,075 shares of the technology company’s stock valued at $111,643,000 after purchasing an additional 663,385 shares during the last quarter. Maren Capital LLC acquired a new stake in shares of AMETEK during the fourth quarter worth $64,284,000. Finally, The Manufacturers Life Insurance Company raised its stake in AMETEK by 52.9% during the third quarter. The Manufacturers Life Insurance Company now owns 1,032,796 shares of the technology company’s stock worth $152,606,000 after buying an additional 357,212 shares during the last quarter. 87.43% of the stock is currently owned by institutional investors and hedge funds.

AMETEK Price Performance

Shares of NYSE:AME opened at $166.30 on Friday. 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 stock has a market cap of $38.49 billion, a PE ratio of 29.23, a price-to-earnings-growth ratio of 2.66 and a beta of 1.18. The stock’s fifty day simple moving average is $169.85 and its two-hundred day simple moving average is $171.73. AMETEK, Inc. has a 1-year low of $136.89 and a 1-year high of $186.32.

AMETEK (NYSE:AME) last announced its earnings results on Thursday, May 2nd. The technology company reported $1.64 EPS for the quarter, beating the consensus estimate of $1.59 by $0.05. AMETEK had a net margin of 19.57% and a return on equity of 17.74%. The company had revenue of $1.74 billion during the quarter, compared to the consensus estimate of $1.78 billion. During the same quarter in the prior year, the company posted $1.49 earnings per share. The firm’s revenue for the quarter was up 9.0% on a year-over-year basis. As a group, analysts forecast that AMETEK, Inc. will post 6.83 EPS for the current fiscal year.

AMETEK Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, June 28th. Stockholders of record on Friday, June 14th were issued a $0.28 dividend. This represents a $1.12 annualized dividend and a dividend yield of 0.67%. The ex-dividend date of this dividend was Friday, June 14th. AMETEK’s dividend payout ratio is presently 19.68%.

Analysts Set New Price Targets

AME has been the topic of a number of recent analyst reports. Oppenheimer raised AMETEK from a “market perform” rating to an “outperform” rating and set a $200.00 price objective on the stock in a research note on Wednesday, May 22nd. Truist Financial cut their price objective on shares of AMETEK from $210.00 to $204.00 and set a “buy” rating on the stock in a research report on Tuesday. Robert W. Baird decreased their target price on AMETEK from $173.00 to $171.00 and set a “neutral” rating for the company in a research report on Monday, May 6th. Finally, StockNews.com lowered AMETEK from a “buy” rating to a “hold” rating in a research report on Tuesday, June 18th. Four research analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $181.20.

Insider Activity at AMETEK

In other AMETEK news, Director Steven W. Kohlhagen sold 1,440 shares of the company’s stock in a transaction on Wednesday, June 12th. The stock was sold at an average price of $173.93, for a total value of $250,459.20. Following the completion of the transaction, the director now owns 24,809 shares in the company, valued at approximately $4,315,029.37. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other AMETEK news, Director Steven W. Kohlhagen sold 1,440 shares of the business’s stock in a transaction dated Wednesday, June 12th. The shares were sold at an average price of $173.93, for a total value of $250,459.20. Following the transaction, the director now directly owns 24,809 shares in the company, valued at $4,315,029.37. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director Steven W. Kohlhagen sold 1,470 shares of AMETEK stock in a transaction that occurred on Wednesday, May 15th. The stock was sold at an average price of $170.20, for a total transaction of $250,194.00. Following the completion of the sale, 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. 0.61% of the stock is currently owned by company insiders.

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.