Fulton Bank N.A. Raises Stock Holdings in AMETEK, Inc. (NYSE:AME)

Fulton Bank N.A. grew its stake in shares of AMETEK, Inc. (NYSE:AME) by 7.2% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 3,078 shares of the technology company’s stock after buying an additional 206 shares during the period. Fulton Bank N.A.’s holdings in AMETEK were worth $529,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in AME. Vanguard Group Inc. lifted its holdings in AMETEK by 0.3% during the fourth quarter. Vanguard Group Inc. now owns 25,578,270 shares of the technology company’s stock valued at $4,217,601,000 after purchasing an additional 84,832 shares in the last quarter. JPMorgan Chase & Co. boosted its holdings in AMETEK by 48.4% in the 1st quarter. JPMorgan Chase & Co. now owns 7,075,565 shares of the technology company’s stock worth $1,294,121,000 after buying an additional 2,306,535 shares during the period. Price T Rowe Associates Inc. MD increased its stake in AMETEK by 0.7% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 6,536,231 shares of the technology company’s stock worth $1,195,478,000 after buying an additional 44,899 shares in the last quarter. Bank of New York Mellon Corp raised its holdings in AMETEK by 34.6% during the second quarter. Bank of New York Mellon Corp now owns 3,602,753 shares of the technology company’s stock valued at $600,615,000 after acquiring an additional 926,657 shares during the period. Finally, Boston Partners lifted its position in shares of AMETEK by 3.0% in the first quarter. Boston Partners now owns 3,063,588 shares of the technology company’s stock valued at $560,278,000 after acquiring an additional 90,271 shares in the last quarter. 87.43% of the stock is currently owned by institutional investors.

AMETEK Price Performance

AMETEK stock opened at $166.92 on Wednesday. AMETEK, Inc. has a 52-week low of $136.89 and a 52-week high of $186.32. The company has a quick ratio of 0.76, a current ratio of 1.26 and a debt-to-equity ratio of 0.20. The firm’s fifty day moving average is $166.23 and its 200 day moving average is $170.34. The company has a market cap of $38.64 billion, a price-to-earnings ratio of 29.34, a PEG ratio of 2.81 and a beta of 1.17.

AMETEK (NYSE:AME) last announced its earnings results on Thursday, August 1st. The technology company reported $1.66 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.64 by $0.02. The firm had revenue of $1.73 billion for the quarter, compared to analysts’ expectations of $1.78 billion. AMETEK had a net margin of 19.51% and a return on equity of 17.41%. The business’s revenue was up 5.4% compared to the same quarter last year. During the same period in the prior year, the company earned $1.57 EPS. Sell-side analysts forecast that AMETEK, Inc. will post 6.77 EPS for the current fiscal year.

AMETEK Dividend Announcement

The business 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. This represents a $1.12 dividend on an annualized basis and a dividend yield of 0.67%. The ex-dividend date of this dividend was Monday, September 16th. AMETEK’s dividend payout ratio (DPR) is 19.68%.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on AME. Royal Bank of Canada cut their target price on AMETEK from $216.00 to $215.00 and set an “outperform” rating for the company in a research report on Friday, August 2nd. TD Cowen cut shares of AMETEK from a “hold” rating to a “sell” rating in a research report on Monday. Truist Financial dropped their target price on shares of AMETEK from $204.00 to $201.00 and set a “buy” rating for the company in a research report on Friday, August 2nd. Wolfe Research upgraded shares of AMETEK to a “hold” rating in a report on Wednesday, September 18th. Finally, StockNews.com downgraded shares of AMETEK from a “buy” rating to a “hold” rating in a report on Tuesday, August 6th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $190.83.

Insider Activity

In related news, Director Steven W. Kohlhagen sold 1,460 shares of the firm’s stock in a transaction on Wednesday, September 25th. The stock was 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 $4,006,454.91. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 0.61% of the company’s stock.

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.