Raymond James & Associates Raises Stake in AMETEK, Inc. (NYSE:AME)

Raymond James & Associates boosted its holdings in shares of AMETEK, Inc. (NYSE:AME) by 2.6% in the third quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 176,737 shares of the technology company’s stock after buying an additional 4,557 shares during the quarter. Raymond James & Associates owned 0.08% of AMETEK worth $30,347,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of AME. Washington Trust Advisors Inc. purchased a new position in shares of AMETEK during the first quarter worth $37,000. Family Firm Inc. purchased a new position in shares of AMETEK during the 2nd quarter valued at about $39,000. Industrial Alliance Investment Management Inc. purchased a new position in shares of AMETEK during the 2nd quarter valued at about $42,000. Headlands Technologies LLC purchased a new stake in shares of AMETEK in the first quarter worth about $43,000. Finally, Crewe Advisors LLC boosted 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 worth $49,000 after buying an additional 184 shares during the last quarter. 87.43% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at AMETEK

In other AMETEK news, Director Steven W. Kohlhagen sold 1,460 shares of the firm’s stock in a transaction that occurred 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 transaction, the director now directly owns 23,349 shares of the company’s stock, valued at $4,006,454.91. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.61% of the stock is owned by corporate insiders.

AMETEK Price Performance

NYSE:AME opened at $166.67 on Thursday. The stock has a 50 day moving average of $168.26 and a two-hundred day moving average of $169.35. AMETEK, Inc. has a 12 month low of $136.89 and a 12 month high of $186.32. The firm has a market cap of $38.58 billion, a P/E ratio of 29.29, a price-to-earnings-growth ratio of 2.77 and a beta of 1.17. The company has a current ratio of 1.26, a quick ratio of 0.76 and a debt-to-equity ratio of 0.20.

AMETEK (NYSE:AME) last issued its quarterly 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. The firm had revenue of $1.73 billion during the quarter, compared to analysts’ expectations of $1.78 billion. AMETEK had a return on equity of 17.41% and a net margin of 19.51%. The firm’s revenue for the quarter was up 5.4% on a year-over-year basis. During the same period in the previous year, the business earned $1.57 earnings per share. On average, analysts expect that AMETEK, Inc. will post 6.76 earnings per share for the current fiscal year.

AMETEK Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, September 30th. Investors of record on Monday, September 16th were given a dividend of $0.28 per share. The ex-dividend date of this dividend was Monday, September 16th. This represents a $1.12 dividend on an annualized basis and a yield of 0.67%. AMETEK’s payout ratio is presently 19.68%.

Analyst Ratings Changes

AME has been the subject of a number of analyst reports. Truist Financial boosted their price target on AMETEK from $201.00 to $219.00 and gave the company a “buy” rating in a report on Wednesday, October 9th. TD Cowen downgraded shares of AMETEK from a “hold” rating to a “sell” rating in a report on Monday, October 7th. StockNews.com downgraded shares of AMETEK from a “buy” rating to a “hold” rating in a research report on Tuesday, August 6th. Mizuho raised their target price on AMETEK from $180.00 to $190.00 and gave the company an “outperform” rating in a research report on Thursday, October 17th. Finally, Wolfe Research raised AMETEK to a “hold” rating in a report on Wednesday, September 18th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating, five have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, AMETEK presently has an average rating of “Moderate Buy” and an average price target of $193.29.

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.