Axxcess Wealth Management LLC Buys New Stake in AMETEK, Inc. (NYSE:AME)

Axxcess Wealth Management LLC bought a new stake in AMETEK, Inc. (NYSE:AME) in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm bought 1,444 shares of the technology company’s stock, valued at approximately $248,000.

A number of other institutional investors and hedge funds have also recently modified their holdings of AME. JPMorgan Chase & Co. grew its holdings in shares of AMETEK by 48.4% in the first quarter. JPMorgan Chase & Co. now owns 7,075,565 shares of the technology company’s stock valued at $1,294,121,000 after purchasing an additional 2,306,535 shares in the last quarter. Bank of New York Mellon Corp grew its holdings in shares of AMETEK by 34.6% in the second quarter. Bank of New York Mellon Corp now owns 3,602,753 shares of the technology company’s stock valued at $600,615,000 after purchasing an additional 926,657 shares in the last quarter. Meridiem Investment Management Ltd. purchased a new position in shares of AMETEK in the third quarter valued at $130,579,000. Principal Financial Group Inc. grew its holdings in shares of AMETEK by 72.0% in the third quarter. Principal Financial Group Inc. now owns 1,680,309 shares of the technology company’s stock valued at $288,526,000 after purchasing an additional 703,501 shares in the last quarter. Finally, James Hambro & Partners LLP purchased a new position in AMETEK during the third quarter worth $60,188,000. 87.43% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research analysts have commented on AME shares. Royal Bank of Canada dropped their price objective on shares of AMETEK from $216.00 to $215.00 and set an “outperform” rating for the company in a research note on Friday, August 2nd. Truist Financial lifted their price objective on shares of AMETEK from $219.00 to $221.00 and gave the stock a “buy” rating in a research note on Friday, November 1st. Redburn Atlantic raised shares of AMETEK to a “strong-buy” rating in a research note on Friday, August 2nd. Mizuho lifted their price objective on shares of AMETEK from $190.00 to $200.00 and gave the stock an “outperform” rating in a research note on Friday, November 1st. Finally, Wolfe Research raised shares of AMETEK to a “hold” rating in a research note on Wednesday, September 18th. One analyst has rated the stock with a sell rating, two have assigned a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $197.86.

AMETEK Stock Performance

AME stock opened at $193.85 on Friday. The company has a debt-to-equity ratio of 0.18, a current ratio of 1.39 and a quick ratio of 0.84. The business has a 50-day moving average price of $172.43 and a 200 day moving average price of $169.55. The company has a market capitalization of $44.84 billion, a P/E ratio of 34.05, a PEG ratio of 3.17 and a beta of 1.16. AMETEK, Inc. has a 1-year low of $149.03 and a 1-year high of $196.70.

AMETEK (NYSE:AME) last released its quarterly earnings data on Thursday, October 31st. The technology company reported $1.66 earnings per share for the quarter, beating the consensus estimate of $1.62 by $0.04. The firm had revenue of $1.71 billion during the quarter, compared to the consensus estimate of $1.71 billion. AMETEK had a return on equity of 16.88% and a net margin of 19.27%. The firm’s quarterly revenue was up 5.3% on a year-over-year basis. During the same period in the previous year, the company posted $1.64 earnings per share. As a group, equities research analysts forecast that AMETEK, Inc. will post 6.81 EPS for the current fiscal year.

AMETEK Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 20th. Investors of record on Friday, December 6th will be issued a $0.28 dividend. The ex-dividend date is Friday, December 6th. This represents a $1.12 annualized dividend and a dividend yield of 0.58%. AMETEK’s payout ratio is currently 19.51%.

Insider Activity at AMETEK

In other AMETEK news, Director Steven W. Kohlhagen sold 1,460 shares of the business’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 completion of the transaction, the director now directly owns 23,349 shares in the company, valued at approximately $4,006,454.91. The trade was a 5.88 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider David F. Hermance sold 6,243 shares of the business’s stock in a transaction dated Friday, November 8th. The stock was sold at an average price of $190.99, for a total transaction of $1,192,350.57. Following the completion of the transaction, the insider now owns 36,731 shares of the company’s stock, valued at $7,015,253.69. This represents a 14.53 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.61% of the stock is currently owned by corporate insiders.

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.