Eastern Bank Makes New $101,000 Investment in AMETEK, Inc. (NYSE:AME)

Eastern Bank bought a new position in AMETEK, Inc. (NYSE:AME) in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 586 shares of the technology company’s stock, valued at approximately $101,000.

A number of other institutional investors and hedge funds have also recently made changes to their positions in the stock. Whittier Trust Co. of Nevada Inc. lifted its holdings in shares of AMETEK by 8.8% in the third quarter. Whittier Trust Co. of Nevada Inc. now owns 3,784 shares of the technology company’s stock worth $650,000 after acquiring an additional 307 shares during the last quarter. James Hambro & Partners LLP bought a new position in shares of AMETEK in the third quarter worth about $60,188,000. Compass Ion Advisors LLC bought a new position in shares of AMETEK in the third quarter worth about $503,000. Schaper Benz & Wise Investment Counsel Inc. WI raised its holdings in AMETEK by 4.0% in the 3rd quarter. Schaper Benz & Wise Investment Counsel Inc. WI now owns 104,932 shares of the technology company’s stock valued at $18,018,000 after buying an additional 4,059 shares during the last quarter. Finally, Meridiem Investment Management Ltd. bought a new position in AMETEK in the 3rd quarter valued at approximately $130,579,000. Institutional investors own 87.43% of the company’s stock.

Insider Transactions at AMETEK

In other news, Director Steven W. Kohlhagen sold 1,460 shares of the firm’s stock in a transaction that occurred on 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 owns 23,349 shares of the company’s stock, valued at $4,006,454.91. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. Insiders own 0.61% of the company’s stock.

AMETEK Stock Performance

Shares of AME stock opened at $166.96 on Friday. The company has a market cap of $38.65 billion, a price-to-earnings ratio of 29.34, a price-to-earnings-growth ratio of 2.77 and a beta of 1.17. AMETEK, Inc. has a 52 week low of $136.89 and a 52 week high of $186.32. The company has a quick ratio of 0.76, a current ratio of 1.26 and a debt-to-equity ratio of 0.20. The firm has a 50 day moving average of $168.32 and a 200-day moving average of $169.33.

AMETEK (NYSE:AME) last announced its quarterly earnings data on Thursday, August 1st. The technology company reported $1.66 EPS for the quarter, topping the consensus estimate of $1.64 by $0.02. The company had revenue of $1.73 billion during the quarter, compared to the consensus estimate of $1.78 billion. AMETEK had a net margin of 19.51% and a return on equity of 17.41%. The company’s quarterly revenue was up 5.4% on a year-over-year basis. During the same quarter last year, the firm posted $1.57 EPS. On average, equities analysts forecast that AMETEK, Inc. will post 6.76 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 dividend of $0.28 per share. This represents a $1.12 annualized dividend and a dividend yield of 0.67%. The ex-dividend date was Monday, September 16th. AMETEK’s dividend payout ratio (DPR) is 19.68%.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on AME shares. Robert W. Baird dropped their price objective on shares of AMETEK from $171.00 to $166.00 and set a “neutral” rating for the company in a report on Wednesday, August 7th. Truist Financial raised their price objective on shares of AMETEK from $201.00 to $219.00 and gave the company a “buy” rating in a report on Wednesday, October 9th. TD Cowen lowered shares of AMETEK from a “hold” rating to a “sell” rating in a report on Monday, October 7th. StockNews.com lowered shares of AMETEK from a “buy” rating to a “hold” rating in a report on Tuesday, August 6th. Finally, Royal Bank of Canada lowered their price target on shares of AMETEK from $216.00 to $215.00 and set an “outperform” rating for the company in a report on Friday, August 2nd. One analyst has rated the stock with a sell rating, three have given a hold rating, five have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $193.29.

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.