Biltmore Wealth Management LLC Grows Position in AMETEK, Inc. (NYSE:AME)

Biltmore Wealth Management LLC boosted its position in AMETEK, Inc. (NYSE:AME) by 2.6% during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 4,913 shares of the technology company’s stock after purchasing an additional 126 shares during the period. AMETEK comprises 0.3% of Biltmore Wealth Management LLC’s portfolio, making the stock its 29th biggest holding. Biltmore Wealth Management LLC’s holdings in AMETEK were worth $844,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in AME. Washington Trust Advisors Inc. purchased a new position in shares of AMETEK during the 1st quarter worth about $37,000. Family Firm Inc. acquired a new position in AMETEK in the second quarter valued at approximately $39,000. Headlands Technologies LLC acquired a new position in shares of AMETEK in the first quarter worth about $43,000. Industrial Alliance Investment Management Inc. acquired a new stake in AMETEK in the second quarter valued at approximately $42,000. Finally, Crewe Advisors LLC increased its holdings in AMETEK by 168.8% in the 2nd quarter. Crewe Advisors LLC now owns 293 shares of the technology company’s stock worth $49,000 after acquiring an additional 184 shares in the last quarter. 87.43% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In related news, Director Steven W. Kohlhagen sold 1,460 shares of the company’s stock in a transaction on 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 sale, the director now directly owns 23,349 shares in the company, valued at approximately $4,006,454.91. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Insiders own 0.61% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on the company. StockNews.com lowered AMETEK from a “buy” rating to a “hold” rating in a research report on Tuesday, August 6th. TD Cowen cut their price objective on AMETEK from $165.00 to $158.00 and set a “hold” rating on the stock in a research report on Monday, August 5th. Wolfe Research upgraded shares of AMETEK to a “hold” rating in a report on Wednesday, September 18th. Robert W. Baird dropped their price target on shares of AMETEK from $171.00 to $166.00 and set a “neutral” rating on the stock in a research note on Wednesday, August 7th. Finally, Truist Financial dropped their price target on AMETEK from $204.00 to $201.00 and set a “buy” rating on the stock in a research note on Friday, August 2nd. Five analysts have rated the stock with a hold rating, four have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $186.29.

AMETEK Stock Up 0.6 %

Shares of NYSE:AME traded up $1.01 during midday trading on Friday, reaching $170.11. The company had a trading volume of 718,388 shares, compared to its average volume of 1,135,349. The stock has a market capitalization of $39.38 billion, a P/E ratio of 29.90, a PEG ratio of 2.81 and a beta of 1.17. The stock’s fifty day moving average price is $166.34 and its 200-day moving average price is $170.64. The company has a debt-to-equity ratio of 0.20, a current ratio of 1.26 and a quick ratio of 0.76. AMETEK, Inc. has a one year low of $136.89 and a one year high of $186.32.

AMETEK (NYSE:AME) last posted its earnings results on Thursday, August 1st. The technology company reported $1.66 EPS for the quarter, topping the consensus estimate 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 during the quarter, compared to analysts’ expectations of $1.78 billion. During the same quarter in the prior year, the firm earned $1.57 EPS. AMETEK’s quarterly revenue was up 5.4% on a year-over-year basis. Equities research analysts expect that AMETEK, Inc. will post 6.77 earnings per share for the current fiscal year.

AMETEK Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, September 30th. Stockholders of record on Monday, September 16th were issued a $0.28 dividend. The ex-dividend date was Monday, September 16th. This represents a $1.12 dividend on an annualized basis and a dividend yield of 0.66%. AMETEK’s dividend payout ratio is 19.68%.

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.