Wallace Advisory Group LLC Has $216,000 Stake in AMETEK, Inc. (NYSE:AME)

Wallace Advisory Group LLC trimmed its holdings in shares of AMETEK, Inc. (NYSE:AME) by 5.5% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 1,296 shares of the technology company’s stock after selling 75 shares during the quarter. Wallace Advisory Group LLC’s holdings in AMETEK were worth $216,000 at the end of the most recent quarter.

Other hedge funds have also recently bought and sold shares of the company. Washington Trust Advisors Inc. bought a new stake in AMETEK during the first quarter valued at about $37,000. Family Firm Inc. bought a new stake in shares of AMETEK in the second quarter valued at about $39,000. Industrial Alliance Investment Management Inc. bought a new stake in shares of AMETEK in the second quarter valued at about $42,000. Headlands Technologies LLC bought a new stake in shares of AMETEK in the first quarter valued at about $43,000. Finally, Crewe Advisors LLC lifted its stake in shares of AMETEK by 168.8% in the second quarter. Crewe Advisors LLC now owns 293 shares of the technology company’s stock valued at $49,000 after buying an additional 184 shares during the period. 87.43% of the stock is owned by institutional investors and hedge funds.

AMETEK Trading Up 0.6 %

AME stock traded up $1.01 during midday trading on Friday, reaching $170.11. The company’s stock had a trading volume of 718,388 shares, compared to its average volume of 1,135,349. AMETEK, Inc. has a 52 week low of $136.89 and a 52 week high of $186.32. The stock has a market cap of $39.38 billion, a PE ratio of 29.90, a price-to-earnings-growth ratio of 2.81 and a beta of 1.17. 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 business’s 50-day simple moving average is $166.34 and its 200-day simple moving average is $170.64.

AMETEK (NYSE:AME) last announced its quarterly earnings data on Thursday, August 1st. The technology company reported $1.66 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 for the quarter was up 5.4% on a year-over-year basis. During the same period last year, the firm earned $1.57 earnings per share. As a group, sell-side analysts expect that AMETEK, Inc. will post 6.77 EPS for the current year.

AMETEK Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, September 30th. Investors of record on Monday, September 16th were given a $0.28 dividend. The ex-dividend date was Monday, September 16th. This represents a $1.12 annualized dividend and a yield of 0.66%. AMETEK’s dividend payout ratio is currently 19.68%.

Insider Activity at AMETEK

In related news, Director Steven W. Kohlhagen sold 1,460 shares of the business’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 sale, the director now directly owns 23,349 shares of the company’s stock, valued at approximately $4,006,454.91. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 0.61% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on the stock. Royal Bank of Canada reduced their target price on shares of AMETEK from $216.00 to $215.00 and set an “outperform” rating for the company in a research note on Friday, August 2nd. Robert W. Baird dropped their price target on shares of AMETEK from $171.00 to $166.00 and set a “neutral” rating for the company in a research report on Wednesday, August 7th. Truist Financial dropped their price target 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. StockNews.com lowered shares of AMETEK from a “buy” rating to a “hold” rating in a research report on Tuesday, August 6th. Finally, TD Cowen dropped their price objective on shares of AMETEK from $165.00 to $158.00 and set a “hold” rating for the company in a report on Monday, August 5th. Five equities research analysts have rated the stock with a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $186.29.

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.