Biltmore Wealth Management LLC Acquires 126 Shares of AMETEK, Inc. (NYSE:AME)

Biltmore Wealth Management LLC increased its holdings in shares of AMETEK, Inc. (NYSE:AME) by 2.6% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 4,913 shares of the technology company’s stock after buying an additional 126 shares during the period. AMETEK accounts for about 0.3% of Biltmore Wealth Management LLC’s investment portfolio, making the stock its 29th biggest holding. Biltmore Wealth Management LLC’s holdings in AMETEK were worth $844,000 at the end of the most recent quarter.

Several other large investors have also bought and sold shares of the business. JPMorgan Chase & Co. raised 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 purchasing an additional 2,306,535 shares during the period. Bank of New York Mellon Corp raised its holdings in shares of AMETEK by 34.6% during 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. Principal Financial Group Inc. lifted its position in AMETEK by 256.3% in the 2nd quarter. Principal Financial Group Inc. now owns 976,808 shares of the technology company’s stock valued at $162,844,000 after acquiring an additional 702,674 shares in the last quarter. Dixon Mitchell Investment Counsel Inc. acquired a new position in AMETEK in the 1st quarter worth $46,343,000. Finally, Sei Investments Co. increased its holdings in AMETEK by 133.3% during the 1st quarter. Sei Investments Co. now owns 394,881 shares of the technology company’s stock worth $72,223,000 after purchasing an additional 225,600 shares in the last quarter. 87.43% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at AMETEK

In related news, Director Steven W. Kohlhagen sold 1,460 shares of the company’s stock in a transaction dated Wednesday, September 25th. The shares were sold at an average price of $171.59, for a total value of $250,521.40. Following the transaction, the director now owns 23,349 shares in the company, valued at approximately $4,006,454.91. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.61% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

AME has been the subject of a number of recent research reports. TD Cowen reduced their price target on AMETEK from $165.00 to $158.00 and set a “hold” rating for the company in a research report on Monday, August 5th. Wolfe Research raised shares of AMETEK to a “hold” rating in a research report on Wednesday, September 18th. Redburn Atlantic raised shares of AMETEK to a “strong-buy” rating in a research report on Friday, August 2nd. Truist Financial decreased their price objective on AMETEK from $204.00 to $201.00 and set a “buy” rating for the company in a report on Friday, August 2nd. Finally, StockNews.com downgraded AMETEK from a “buy” rating to a “hold” rating in a research report on Tuesday, August 6th. Five investment analysts have rated the stock with a hold rating, four have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, AMETEK currently has a consensus rating of “Moderate Buy” and an average target price of $186.29.

AMETEK Stock Performance

NYSE:AME traded up $1.01 during mid-day trading on Friday, hitting $170.11. The stock had a trading volume of 718,388 shares, compared to its average volume of 1,135,349. AMETEK, Inc. has a twelve month low of $136.89 and a twelve month high of $186.32. 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 stock has a market cap of $39.38 billion, a price-to-earnings ratio of 29.90, a PEG ratio of 2.81 and a beta of 1.17. The company’s 50 day simple moving average is $166.34 and its 200 day simple moving average is $170.64.

AMETEK (NYSE:AME) last released its quarterly earnings data on Thursday, August 1st. The technology company reported $1.66 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.64 by $0.02. The company had revenue of $1.73 billion during the quarter, compared to analysts’ expectations of $1.78 billion. AMETEK had a return on equity of 17.41% and a net margin of 19.51%. The business’s revenue was up 5.4% on a year-over-year basis. During the same period last year, the firm posted $1.57 earnings per share. On average, equities research analysts forecast that AMETEK, Inc. will post 6.77 earnings per share for the current 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. This represents a $1.12 annualized dividend and a dividend yield of 0.66%. The ex-dividend date was Monday, September 16th. AMETEK’s payout ratio is presently 19.68%.

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.