Baker Tilly Wealth Management LLC Takes Position in AMETEK, Inc. (NYSE:AME)

by · The Markets Daily

Baker Tilly Wealth Management LLC acquired a new position in AMETEK, Inc. (NYSE:AME – Free Report) in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The fund acquired 1,652 shares of the technology company’s stock, valued at approximately $284,000.

Several other large investors have also recently bought and sold shares of the company. State of Alaska Department of Revenue raised its position in shares of AMETEK by 6.1% during the third quarter. State of Alaska Department of Revenue now owns 30,300 shares of the technology company’s stock worth $5,202,000 after acquiring an additional 1,735 shares during the last quarter. Smith Salley Wealth Management raised its holdings in AMETEK by 0.9% during the 3rd quarter. Smith Salley Wealth Management now owns 126,829 shares of the technology company’s stock worth $21,778,000 after purchasing an additional 1,118 shares during the last quarter. GHP Investment Advisors Inc. lifted its position in AMETEK by 13.8% during the 3rd quarter. GHP Investment Advisors Inc. now owns 56,731 shares of the technology company’s stock valued at $9,741,000 after purchasing an additional 6,882 shares during the period. Forsta AP Fonden boosted its stake in shares of AMETEK by 10.6% in the 3rd quarter. Forsta AP Fonden now owns 47,800 shares of the technology company’s stock valued at $8,208,000 after purchasing an additional 4,600 shares during the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. grew its position in shares of AMETEK by 21.9% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 13,538 shares of the technology company’s stock worth $2,329,000 after buying an additional 2,435 shares during the period. Institutional investors and hedge funds own 87.43% of the company’s stock.

AMETEK Trading Up 0.7 %

NYSE:AME opened at $168.05 on Tuesday. The business’s 50-day simple moving average is $168.48 and its 200-day simple moving average is $168.98. AMETEK, Inc. has a fifty-two week low of $136.89 and a fifty-two week 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. The stock has a market capitalization of $38.90 billion, a PE ratio of 29.53, a price-to-earnings-growth ratio of 2.77 and a beta of 1.17.

AMETEK (NYSE:AME – Get Free Report) last announced its quarterly earnings results on Thursday, August 1st. The technology company reported $1.66 earnings per share 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 for the quarter, compared to analyst estimates of $1.78 billion. During the same quarter in the previous year, the firm posted $1.57 earnings per share. The business’s revenue was up 5.4% on a year-over-year basis. Sell-side analysts expect that AMETEK, Inc. will post 6.76 earnings per share for the current fiscal year.

AMETEK Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, September 30th. Shareholders of record on Monday, September 16th were issued a dividend of $0.28 per share. This represents a $1.12 dividend on an annualized basis and a yield of 0.67%. The ex-dividend date of this dividend was Monday, September 16th. AMETEK’s dividend payout ratio (DPR) is presently 19.68%.

Insider Buying and Selling at AMETEK

In other news, Director Steven W. Kohlhagen sold 1,460 shares of the company’s stock in a transaction dated Wednesday, September 25th. The stock was sold at an average price of $171.59, for a total transaction of $250,521.40. Following the completion of the transaction, the director now directly owns 23,349 shares of the company’s stock, valued at $4,006,454.91. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 0.61% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on AME. TD Cowen cut shares of AMETEK from a “hold” rating to a “sell” rating in a research note on Monday, October 7th. Wolfe Research upgraded AMETEK to a “hold” rating in a research report on Wednesday, September 18th. Truist Financial upped their price objective on AMETEK from $201.00 to $219.00 and gave the company a “buy” rating in a report on Wednesday, October 9th. StockNews.com cut AMETEK from a “buy” rating to a “hold” rating in a report on Tuesday, August 6th. Finally, Robert W. Baird lowered their price target on AMETEK from $171.00 to $166.00 and set a “neutral” rating for the company in a research note on Wednesday, August 7th. One investment analyst has rated the stock with a sell rating, three have given a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $193.29.

Check Out Our Latest Stock Report on AME

About AMETEK

(Free Report)

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.

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