Prospera Financial Services Inc Purchases 121 Shares of AMETEK, Inc. (NYSE:AME)

Prospera Financial Services Inc increased its holdings in AMETEK, Inc. (NYSE:AME) by 6.9% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 1,878 shares of the technology company’s stock after buying an additional 121 shares during the quarter. Prospera Financial Services Inc’s holdings in AMETEK were worth $323,000 at the end of the most recent reporting period.

Several other large investors also recently added to or reduced their stakes in the business. Czech National Bank grew its position in shares of AMETEK by 8.6% during the 2nd quarter. Czech National Bank now owns 44,108 shares of the technology company’s stock valued at $7,353,000 after acquiring an additional 3,499 shares during the period. CWM LLC raised its stake in shares of AMETEK by 53.9% in the second quarter. CWM LLC now owns 10,594 shares of the technology company’s stock worth $1,766,000 after buying an additional 3,711 shares during the period. Swedbank AB bought a new position in shares of AMETEK in the first quarter worth about $3,833,000. Cetera Investment Advisers lifted its position in shares of AMETEK by 573.2% during the 1st quarter. Cetera Investment Advisers now owns 59,754 shares of the technology company’s stock valued at $10,929,000 after buying an additional 50,878 shares in the last quarter. Finally, Assenagon Asset Management S.A. increased its holdings in AMETEK by 68.2% in the 2nd quarter. Assenagon Asset Management S.A. now owns 152,132 shares of the technology company’s stock worth $25,362,000 after acquiring an additional 61,677 shares in the last quarter. 87.43% of the stock is currently owned by institutional investors.

Insider Activity

In other AMETEK news, Director Steven W. Kohlhagen sold 1,460 shares of the company’s stock in a transaction that occurred on Wednesday, September 25th. The stock was sold at an average price of $171.59, for a total transaction of $250,521.40. Following the sale, the director now directly owns 23,349 shares in the company, valued at $4,006,454.91. This represents a 5.88 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, insider David F. Hermance sold 6,243 shares of the firm’s stock in a transaction that occurred on Friday, November 8th. The shares were sold at an average price of $190.99, for a total value of $1,192,350.57. Following the completion of the sale, the insider now directly owns 36,731 shares of the company’s stock, valued at $7,015,253.69. The trade was a 14.53 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 0.61% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on AME shares. Truist Financial upped their price target on shares of AMETEK from $219.00 to $221.00 and gave the stock a “buy” rating in a research report on Friday, November 1st. TD Cowen downgraded shares of AMETEK from a “hold” rating to a “sell” rating in a report on Monday, October 7th. StockNews.com cut AMETEK from a “buy” rating to a “hold” rating in a report on Friday, November 15th. Wolfe Research raised AMETEK to a “hold” rating in a research note on Wednesday, September 18th. Finally, KeyCorp lifted their target price on AMETEK from $205.00 to $215.00 and gave the company an “overweight” rating in a research note on Friday. One research analyst has rated the stock with a sell rating, three have issued a hold rating, five have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $199.29.

AMETEK Price Performance

Shares of AMETEK stock opened at $197.38 on Monday. The firm has a market cap of $45.66 billion, a PE ratio of 34.39, a PEG ratio of 3.19 and a beta of 1.16. The stock has a 50 day moving average of $176.46 and a 200 day moving average of $170.72. The company has a current ratio of 1.39, a quick ratio of 0.84 and a debt-to-equity ratio of 0.18. AMETEK, Inc. has a 12 month low of $149.03 and a 12 month high of $197.83.

AMETEK (NYSE:AME) last posted its earnings results on Thursday, October 31st. The technology company reported $1.66 EPS for the quarter, beating analysts’ consensus estimates of $1.62 by $0.04. AMETEK had a return on equity of 16.88% and a net margin of 19.27%. The firm had revenue of $1.71 billion during the quarter, compared to the consensus estimate of $1.71 billion. During the same period in the prior year, the company earned $1.64 EPS. The company’s quarterly revenue was up 5.3% compared to the same quarter last year. On average, research analysts expect that AMETEK, Inc. will post 6.8 EPS for the current fiscal year.

AMETEK Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, December 20th. Stockholders of record on Friday, December 6th will be issued a $0.28 dividend. The ex-dividend date of this dividend is Friday, December 6th. This represents a $1.12 dividend on an annualized basis and a dividend yield of 0.57%. AMETEK’s dividend payout ratio (DPR) is presently 19.51%.

AMETEK Company 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.