B. Riley Wealth Advisors Inc. Lowers Position in AMETEK, Inc. (NYSE:AME)

B. Riley Wealth Advisors Inc. lessened its stake in AMETEK, Inc. (NYSE:AME) by 29.9% during the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 1,346 shares of the technology company’s stock after selling 573 shares during the quarter. B. Riley Wealth Advisors Inc.’s holdings in AMETEK were worth $222,000 at the end of the most recent reporting period.

Several other hedge funds have also recently modified their holdings of the stock. LPL Financial LLC raised its stake in AMETEK by 15.0% during the third quarter. LPL Financial LLC now owns 78,411 shares of the technology company’s stock valued at $11,586,000 after purchasing an additional 10,203 shares in the last quarter. Federated Hermes Inc. raised its stake in AMETEK by 21.1% during the third quarter. Federated Hermes Inc. now owns 1,296 shares of the technology company’s stock valued at $191,000 after purchasing an additional 226 shares in the last quarter. O Shaughnessy Asset Management LLC raised its stake in AMETEK by 2.9% during the third quarter. O Shaughnessy Asset Management LLC now owns 15,890 shares of the technology company’s stock valued at $2,348,000 after purchasing an additional 455 shares in the last quarter. Synovus Financial Corp raised its stake in AMETEK by 23.0% during the third quarter. Synovus Financial Corp now owns 3,863 shares of the technology company’s stock valued at $571,000 after purchasing an additional 722 shares in the last quarter. Finally, Tower Research Capital LLC TRC raised its stake in AMETEK by 144.0% during the third quarter. Tower Research Capital LLC TRC now owns 17,247 shares of the technology company’s stock valued at $2,548,000 after purchasing an additional 10,180 shares in the last quarter. Hedge funds and other institutional investors own 87.43% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on the stock. StockNews.com cut shares of AMETEK from a “buy” rating to a “hold” rating in a research report on Tuesday, June 18th. Truist Financial assumed coverage on shares of AMETEK in a research report on Thursday, March 14th. They set 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 price objective on the stock in a research report on Wednesday, May 22nd. Finally, Robert W. Baird cut their price objective on shares of AMETEK from $173.00 to $171.00 and set a “neutral” rating on the stock in a research report on Monday, May 6th. Four analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $181.80.

Insiders Place Their Bets

In other AMETEK news, Director Steven W. Kohlhagen sold 1,470 shares of the stock in a transaction dated Wednesday, May 15th. The shares were sold at an average price of $170.20, for a total transaction of $250,194.00. Following the transaction, the director now directly owns 26,249 shares in the company, valued at approximately $4,467,579.80. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other AMETEK news, Director Steven W. Kohlhagen sold 1,440 shares of the stock in a transaction dated Wednesday, June 12th. The shares were sold at an average price of $173.93, for a total transaction of $250,459.20. Following the completion of the sale, the director now directly owns 24,809 shares of the company’s stock, valued at $4,315,029.37. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Steven W. Kohlhagen sold 1,470 shares of the stock in a transaction dated Wednesday, May 15th. The shares were sold at an average price of $170.20, for a total transaction of $250,194.00. Following the sale, the director now directly owns 26,249 shares of the company’s stock, valued at $4,467,579.80. The disclosure for this sale can be found here. 0.61% of the stock is owned by company insiders.

AMETEK Trading Down 0.1 %

NYSE AME opened at $166.49 on Friday. The company’s 50-day moving average price is $171.05 and its 200-day moving average price is $171.57. The company has a current ratio of 1.11, a quick ratio of 0.66 and a debt-to-equity ratio of 0.21. The stock has a market cap of $38.54 billion, a PE ratio of 29.26, a PEG ratio of 2.70 and a beta of 1.20. AMETEK, Inc. has a 12 month low of $136.89 and a 12 month high of $186.32.

AMETEK (NYSE:AME) last issued its earnings results on Thursday, May 2nd. The technology company reported $1.64 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.59 by $0.05. AMETEK had a net margin of 19.57% and a return on equity of 17.74%. The company had revenue of $1.74 billion for the quarter, compared to analysts’ expectations of $1.78 billion. During the same period in the prior year, the business earned $1.49 EPS. The firm’s quarterly revenue was up 9.0% on a year-over-year basis. Equities research analysts forecast that AMETEK, Inc. will post 6.83 earnings per share for the current year.

AMETEK Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, June 28th. Shareholders of record on Friday, June 14th will be issued a dividend of $0.28 per share. This represents a $1.12 annualized dividend and a yield of 0.67%. The ex-dividend date of this dividend is Friday, June 14th. AMETEK’s payout ratio is 19.68%.

About AMETEK

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.