Wallace Advisory Group LLC Has $216,000 Stock Holdings in AMETEK, Inc. (NYSE:AME)

Wallace Advisory Group LLC cut its position in shares of AMETEK, Inc. (NYSE:AME) by 5.5% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 1,296 shares of the technology company’s stock after selling 75 shares during the period. Wallace Advisory Group LLC’s holdings in AMETEK were worth $216,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also modified their holdings of AME. Stifel Financial Corp boosted its holdings in shares of AMETEK by 2.5% during the 4th quarter. Stifel Financial Corp now owns 50,138 shares of the technology company’s stock worth $8,268,000 after buying an additional 1,245 shares during the period. Rafferty Asset Management LLC grew its position in shares of AMETEK by 5.5% during the 4th quarter. Rafferty Asset Management LLC now owns 19,359 shares of the technology company’s stock worth $3,192,000 after purchasing an additional 1,012 shares in the last quarter. Tower Research Capital LLC TRC grew its position in shares of AMETEK by 67.7% during the 4th quarter. Tower Research Capital LLC TRC now owns 28,930 shares of the technology company’s stock worth $4,770,000 after purchasing an additional 11,683 shares in the last quarter. Oppenheimer & Co. Inc. grew its position in shares of AMETEK by 11.2% during the 4th quarter. Oppenheimer & Co. Inc. now owns 13,238 shares of the technology company’s stock worth $2,183,000 after purchasing an additional 1,329 shares in the last quarter. Finally, Cibc World Markets Corp grew its position in shares of AMETEK by 133.3% during the 4th quarter. Cibc World Markets Corp now owns 29,707 shares of the technology company’s stock worth $4,898,000 after purchasing an additional 16,973 shares in the last quarter. Institutional investors own 87.43% of the company’s stock.

Insiders Place Their Bets

In other AMETEK news, Director Steven W. Kohlhagen sold 1,460 shares of AMETEK 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 sale, the director now owns 23,349 shares of the company’s stock, valued at approximately $4,006,454.91. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 0.61% of the company’s stock.

AMETEK Stock Up 0.6 %

Shares of NYSE AME traded up $1.01 during mid-day trading on Friday, reaching $170.11. 718,388 shares of the company’s stock traded hands, compared to its average volume of 1,135,349. The stock has a market cap of $39.38 billion, a P/E ratio of 29.90, a PEG ratio of 2.81 and a beta of 1.17. The business has a 50-day simple moving average of $166.34 and a 200 day simple moving average of $170.64. AMETEK, Inc. has a 1-year low of $136.89 and a 1-year high of $186.32. The company has a debt-to-equity ratio of 0.20, a current ratio of 1.26 and a quick ratio of 0.76.

AMETEK (NYSE:AME) last issued 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. AMETEK had a net margin of 19.51% and a return on equity of 17.41%. The firm had revenue of $1.73 billion during the quarter, compared to analysts’ expectations of $1.78 billion. During the same period last year, the company earned $1.57 earnings per share. The business’s revenue was up 5.4% on a year-over-year basis. On average, analysts expect that AMETEK, Inc. will post 6.77 EPS for the current fiscal year.

AMETEK Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, September 30th. Investors of record on Monday, September 16th were issued a dividend of $0.28 per share. This represents a $1.12 annualized dividend and a yield of 0.66%. The ex-dividend date was Monday, September 16th. AMETEK’s dividend payout ratio (DPR) is presently 19.68%.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on AME. Truist Financial decreased their target price 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. StockNews.com lowered shares of AMETEK from a “buy” rating to a “hold” rating in a research report on Tuesday, August 6th. Wolfe Research upgraded shares of AMETEK to a “hold” rating in a research report on Wednesday, September 18th. Robert W. Baird reduced their price target 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, TD Cowen reduced their price target 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. Five investment analysts have rated the stock with a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target 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.