Emerald Advisers LLC Makes New Investment in AMETEK, Inc. (NYSE:AME)

Emerald Advisers LLC purchased a new position in shares of AMETEK, Inc. (NYSE:AME) in the second quarter, according to its most recent filing with the SEC. The firm purchased 748 shares of the technology company’s stock, valued at approximately $125,000.

A number of other large investors have also recently bought and sold shares of the business. Anchor Capital Advisors LLC acquired a new stake in AMETEK during the 2nd quarter worth about $456,000. Acadian Asset Management LLC boosted its position in shares of AMETEK by 11.0% during the 2nd quarter. Acadian Asset Management LLC now owns 430,709 shares of the technology company’s stock worth $71,786,000 after purchasing an additional 42,577 shares in the last quarter. Advisor OS LLC bought a new position in shares of AMETEK during the 2nd quarter worth about $1,705,000. Candriam S.C.A. boosted its position in shares of AMETEK by 2.2% during the 2nd quarter. Candriam S.C.A. now owns 16,877 shares of the technology company’s stock worth $2,813,000 after purchasing an additional 365 shares in the last quarter. Finally, North Star Asset Management Inc. boosted its position in shares of AMETEK by 0.6% during the 2nd quarter. North Star Asset Management Inc. now owns 171,588 shares of the technology company’s stock worth $28,605,000 after purchasing an additional 1,016 shares in the last quarter. 87.43% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other AMETEK news, Director Steven W. Kohlhagen sold 1,440 shares of AMETEK stock in a transaction that occurred on Wednesday, June 12th. The shares were sold at an average price of $173.93, for a total transaction of $250,459.20. Following the transaction, the director now owns 24,809 shares of the company’s stock, valued at approximately $4,315,029.37. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Insiders own 0.61% of the company’s stock.

AMETEK Price Performance

Shares of NYSE AME opened at $164.33 on Tuesday. AMETEK, Inc. has a fifty-two week low of $136.89 and a fifty-two week high of $186.32. The stock has a market cap of $38.05 billion, a price-to-earnings ratio of 28.88, a PEG ratio of 2.68 and a beta of 1.17. The company has a debt-to-equity ratio of 0.20, a quick ratio of 0.76 and a current ratio of 1.26. The firm’s 50-day simple moving average is $166.24 and its 200 day simple moving average is $171.98.

AMETEK (NYSE:AME) last posted its earnings results on Thursday, August 1st. The technology company reported $1.66 EPS for the quarter, topping the consensus estimate of $1.64 by $0.02. AMETEK had a net margin of 19.51% and a return on equity of 17.41%. The firm had revenue of $1.73 billion for the quarter, compared to analysts’ expectations of $1.78 billion. During the same quarter last year, the firm earned $1.57 EPS. The company’s quarterly revenue was up 5.4% compared to the same quarter last year. As a group, research analysts anticipate that AMETEK, Inc. will post 6.77 earnings per share for the current fiscal year.

AMETEK Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, September 30th. Shareholders of record on Monday, September 16th will be given a dividend of $0.28 per share. The ex-dividend date is Monday, September 16th. This represents a $1.12 annualized dividend and a dividend yield of 0.68%. AMETEK’s dividend payout ratio is currently 19.68%.

Analysts Set New Price Targets

A number of research firms have recently issued reports on AME. TD Cowen cut their price objective on shares of AMETEK from $165.00 to $158.00 and set a “hold” rating on the stock in a research report on Monday, August 5th. Oppenheimer raised shares of AMETEK from a “market perform” rating to an “outperform” rating and set a $200.00 price objective on the stock in a research report on Wednesday, May 22nd. Redburn Atlantic raised shares of AMETEK to a “strong-buy” rating in a research report on Friday, August 2nd. Robert W. Baird cut their price objective on shares of AMETEK from $171.00 to $166.00 and set a “neutral” rating on the stock in a research report on Wednesday, August 7th. Finally, Truist Financial cut their price objective on shares of AMETEK from $204.00 to $201.00 and set a “buy” rating on the stock in a research report on Friday, August 2nd. Four research analysts have rated the stock with a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, AMETEK presently has an average rating of “Moderate Buy” and a consensus target price of $186.29.

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.