AMETEK, Inc. (NYSE:AME) Shares Purchased by Salem Investment Counselors Inc.

Salem Investment Counselors Inc. boosted its holdings in shares of AMETEK, Inc. (NYSE:AME) by 93.3% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 574 shares of the technology company’s stock after buying an additional 277 shares during the quarter. Salem Investment Counselors Inc.’s holdings in AMETEK were worth $105,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. McGlone Suttner Wealth Management Inc. purchased a new position in AMETEK in the fourth quarter worth approximately $25,000. Wetzel Investment Advisors Inc. acquired a new position in AMETEK in the fourth quarter valued at approximately $25,000. Turtle Creek Wealth Advisors LLC acquired a new stake in AMETEK during the fourth quarter worth approximately $26,000. Bruce G. Allen Investments LLC purchased a new position in shares of AMETEK in the 4th quarter valued at $28,000. Finally, Rakuten Securities Inc. purchased a new stake in AMETEK in the fourth quarter valued at $31,000. Hedge funds and other institutional investors own 87.43% of the company’s stock.

Insiders Place Their Bets

In other AMETEK news, Director Steven W. Kohlhagen sold 1,470 shares of the business’s stock in a transaction dated Wednesday, May 15th. The stock was sold at an average price of $170.20, for a total transaction of $250,194.00. Following the completion of the sale, the director now directly owns 26,249 shares of the company’s stock, valued at approximately $4,467,579.80. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, Director Thomas A. Amato sold 780 shares of the company’s stock in a transaction on Tuesday, March 26th. The shares were sold at an average price of $182.00, for a total value of $141,960.00. Following the completion of the sale, the director now owns 10,240 shares in the company, valued at approximately $1,863,680. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, Director Steven W. Kohlhagen sold 1,470 shares of AMETEK stock in a transaction dated Wednesday, May 15th. The stock was sold at an average price of $170.20, for a total value of $250,194.00. Following the transaction, the director now owns 26,249 shares in the company, valued at $4,467,579.80. The disclosure for this sale can be found here. In the last quarter, insiders have sold 3,690 shares of company stock valued at $642,613. 0.61% of the stock is currently owned by corporate insiders.

AMETEK Stock Up 0.1 %

AME opened at $168.67 on Monday. The business’s fifty day simple moving average is $171.64 and its 200 day simple moving average is $171.41. AMETEK, Inc. has a 52 week low of $136.89 and a 52 week high of $186.32. The firm has a market cap of $39.04 billion, a P/E ratio of 29.64, a PEG ratio of 2.70 and a beta of 1.20. The company has a quick ratio of 0.66, a current ratio of 1.11 and a debt-to-equity ratio of 0.21.

AMETEK (NYSE:AME) last posted its quarterly earnings data on Thursday, May 2nd. The technology company reported $1.64 earnings per share for the quarter, beating analysts’ consensus estimates of $1.59 by $0.05. The business had revenue of $1.74 billion during the quarter, compared to analyst estimates of $1.78 billion. AMETEK had a net margin of 19.57% and a return on equity of 17.74%. During the same quarter in the previous year, the business posted $1.49 earnings per share. The company’s revenue was up 9.0% on a year-over-year basis. As a group, equities research analysts anticipate that AMETEK, Inc. will post 6.83 EPS for the current fiscal year.

AMETEK Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, June 28th. Investors of record on Friday, June 14th will be given a $0.28 dividend. This represents a $1.12 annualized dividend and a yield of 0.66%. The ex-dividend date of this dividend is Friday, June 14th. AMETEK’s dividend payout ratio (DPR) is presently 19.68%.

Wall Street Analyst Weigh In

A number of research firms have recently commented on AME. Robert W. Baird cut their target price on AMETEK from $173.00 to $171.00 and set a “neutral” rating on the stock in a research report on Monday, May 6th. KeyCorp increased their price target on AMETEK from $182.00 to $205.00 and gave the stock an “overweight” rating in a report on Tuesday, February 27th. Truist Financial began coverage on shares of AMETEK in a research note on Thursday, March 14th. They issued a “buy” rating and a $210.00 price objective on the stock. Oppenheimer upgraded shares of AMETEK from a “market perform” rating to an “outperform” rating and set a $200.00 target price for the company in a research note on Wednesday, May 22nd. Finally, StockNews.com cut AMETEK from a “buy” rating to a “hold” rating in a research report on Tuesday, June 18th. Four research analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $181.80.

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.